I learned a secret about newspapers several years ago that I’m going to share with you: they are starving for circulation!
Duh, Gonzo! Tell us something we don’t know.
Here’s what you might not know. Newspapers are so starving for circulation that if you play them right you can renew your subscription for far less than the renewal form they sent you last month.
A few years ago I let my ten-dollar-month subscription lapse to the local newspaper. I walked out in my robe each morning to pick up my daily collection of newspapers, fully expecting to see that particular paper gone one day. But there is was—without fail—every morning.
Finally the phone rang one afternoon.
“Mr. Gonzo, we noticed you have not renewed your monthly subscription.”
“That’s right. I find I don’t read your paper and I have no birdcage I need to line.”
“Well, Mr. Gonzo, if you want to give us a credit card number, we would be happy to renew it over the phone for $39.99 for a full year.”
This is where I did the quick math. That’s a third of what I’m paying now. I sensed an opening.
“That’s still a lot of money.”
“Alright, don’t tell anyone, but today the boss said I can let go of a couple of annual subscriptions for $19.99 a month. I have one left and I will give it to you if you renew right now.”
More quick math. That’s one-sixth of what I’m paying now.
“Deal!”
The lesson here was that if the local paper was willing to do this, what about the big guys? What about The Los Angeles Times and The Wall Street Journal? Turns out they play the same game. I have annual subscriptions to both papers and by letting them lapse each year I force that phone call. I pay far less than the best offer they make me in print.
Of course the bad news is that newspapers are going out of business left and right, and for all except a few businesses, they are losing their value every day as an advertising vehicle.
But I’ll take the trade-off in lower subscription rates. I like my morning newspaper.
Comments