I first wrote this article 5 years ago.
Ironically, the industry is CHANGING- AGAIN.
What are you doing to take advantage? Did you and your business learn your lesson from the last go-around?
Will you simply "take the money?" How will you ensure longevity through the next "slowdown?" (It will happen)
WIll you take the opportunity to INVEST IN YOUR FUTURE by building content, looking at marketing options, and "build the fence" around your herd?
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The industry is changing.
Right now.
The question is, will you be AHEAD of the CURVE or BEHIND it?
Gone are the days of “panic buying,” of backordered AR-15s, Handguns with magazines greater than ten rounds, and .223 and 9mm ammo.
Ammunition prices are going DOWN almost weekly.
Yes, a Trump victory was good for the industry in the LONG RUN, but in the short term you’re going to see a lot of brutal wake-up calls. You’ll see people change companies, you’ll see some layoffs, and, yes, some decreases in business.
Can this be avoided?
The short answer is “yes,” provided the right steps are taken and taken QUICKLY.
Companies that have advertising budgets had better be increasing them and increasing the number of methods they use to push their brands. Those companies that have no or limited budgets had better decide whether they want to be in business very much longer.
You see, there are always companies ready to take YOUR customers.
They don’t care anout YOU. They care about THEM- and if they start running the marketing race before you do, you will have a lot of catching up to do, if you catch them at all.
Think it can’t happen to you?
Ask Harris Publications what they think.
That is, if you can track down anyone that used to work there.
Harris is no more.
Since 1977 Harris published a wide variety of special interest magazines over the years, including newsstand mainstream magazines SLAM, Guitar World, XXL, King, Revolver, and Woman. At the time of its closure, the company's portfolio also included Naturally, Danny Seo; Great Backyards; Celebrity Hairstyles; Juicy; Rides; Who's Who in Baseball; Guns & Weapons, Combat Handguns, Guns of the Old West, Knives... and several others.
At the end of April 2016, Harris released this statement:
“It is with great sadness that we are announcing the closing of Harris Publications. For nearly 40 years, Harris Publications has been a mainstay in enthusiast publishing.
We are extremely grateful for the tremendous contributions of our employees, past and present. The hard work and dedication of our creative, sales, circulation and operations teams and the talents of our freelance editors, writers, photographers and designers are what allowed us to continue delivering thoughtful and beautiful magazines to our readers.
The magazine publishing industry has been through turmoil in the face of the rapid ascendance of digital media, changing consumer content preferences, magazine wholesaler struggles and consolidation in the supply chain. We have tried mightily to persevere against these forces, but have been unable to overcome these challenges.”
This was a diversified, 40 year old, DOMINATING company for many, many years.
Based on this knowledge, I can’t help but ask- Do you believe that Harris Publications is the only publishing company to experience these challenges? Where have you invested YOUR marketing dollars?
I hope you have limited your exposure in print.
I have subscriptions to, at last count, 16 outdoor-related print publications. Most of them are in a pile they were placed in when they arrived in the mail- still unopened, many “special editions” still wrapped in plastic.
The subscription price for what most consider the “big four” outdoor publications is less than 50% of what it was 25 years ago- yet their advertising prices still fetch quite a premium.
When was the last time you bought a magazine from a “newsstand?” A book store?
…and that’s exactly the point.
Television isn’t that great a solution, either. One of the largest providers of outdoor television has begun running “old West” reruns on Friday nights.
I and many others know exactly why this is. Their “market” has gone digital!
I “cut the cord” on cable over a year ago. We watch local news occasionally free via an antenna and “stream” everything else.” Sometimes I stream hunting and fishing, but I am SHOCKED that many of the “big brands” out there don’t make their shows available on the web.
Some very smart entrepreneurs are taking their place.
So, what is a company in the outdoor/firearm/hunting/archery/fishing space to do?
The short answer is, you need to go digital…
…and you had better DIVERSIFY.
Think “Craigslist” and newspaper advertising.
Yellow Pages and Adwords.
This is not something that’s “coming.” It’s ALREADY HERE.
The good news is, we can help.