Performance Management
Leadership, will provide
Performance management: Addressing three critical problems at the Los Angeles Tribune
A decline in advertising revenue
A loss of advertising revenue is one of the most critical concerns for the Tribune, given that without advertising the paper cannot function in either the short or the long-term. Unfortunately, because fewer people are reading print newspapers, advertisers are shifting online to venues which offer larger audiences and which are often free. The paper must convey the unique value of advertising through the Tribune to advertisers, given its audience and general outreach (Chapter 3, 145).
In the short-term, calculating the needed increase in overall revenue is of paramount importance. In the long-term, given the likely trends regarding advertising in the newspaper world, the desire to advertise in print at all will likely evaporate. Instead of fighting these trends, the Tribune must grow its online advertising base. Offering a dynamic website presence with videos, additional story content, and features that attract web-surfers that might not normally be drawn to newspapers online, along with current print Tribune readers is extremely important.
Increasing website traffic means that advertisers will be more interested in the paper. However, metrics must be kept regarding website traffic, to make an effective case to advertisers that the Tribune is a worthy venue for them...
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