Media strategy: significant deficits
Media managers rate digitization and changing media usage as the strongest influencing factors for media management. According to a recent study by the Malik Management Zentrum St. Gallen, almost two-thirds of publishers are feeling the effects of substitution. At the same time, print is losing ground.
The study demonstrates how persistently stagnant advertising spending, new digital offerings and changing usage are changing the industry. “The companies’ responses to the strategic challenges are the same: more of the same is being made, everyone is improving quality, everyone is developing new products. Overall, the measures are strongly based on existing customers or products. “Brand maintenance” and “additional offers” are also very popular with managers, an increased customer benefit should bind the reader permanently,” says the study.
The publishers countered the processes with defensive measures instead of systematically focusing on the identified strategic challenges. There is a lack of a common view of the situation. Those questioned complained about the lack of agreement on goals and target groups; middle managers in particular saw deficits here that made it difficult to act effectively.
The study clearly shows that the publishers have so far not prepared enough structurally for the new challenges. Only half of the publishers see themselves organized in such a way that it is possible to react flexibly to new challenges. The majority of those surveyed also recognize clear shortcomings in cross-departmental cooperation in the company and in the innovation processes. The media managers see possible solutions in freedom for creativity, entrepreneurship and personal initiative.
You can read more about “media management in transition” in the current issue of absatzwirtschaft.