print this articleNews consumers practicing ‘brand promiscuity’
Are you “playing the field” when it comes to news consumption? A report released this month by McKinsey & Co. thinks so, finding that the average news consumer has a relationship with some 16 different brands. Based on online surveys with 2,100 respondents, the report found that consumers are also not platform-specific and rely on all five (TV, radio, Internet, newspaper, magazine). That would imply news companies that continue to be so general as to be everything to all people are fighting a losing battle.
The report also implies that newspapers’ reluctance to sacrifice quality for speed and convenience is not as good a business strategy as it used to be. “When asked to explain which sources of news were most useful,” the report states, “respondents expressed a preference for those offering convenience, comprehensiveness or timeliness rather than quality.”
That’s not to say that you can serve low-quality information quickly to capture market share. But it probably means that making speed a higher priority will pay off in attracting new audiences.
You can read the full report if you’re willing to register on the site. Its title is a bit misleading (“What consumers want from online news”) since it mostly breaks down how consumers currently get their news. But it is interesting data to ponder as this evolution continues to play out before us.
Posted by MarkBriggs on Monday, August 06, 2007
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