17 Oct If This Works for CVS, What Does It Mean To Newspapers?
“Today our paper weekly circulars are like Model-T Fords – you can have any color as long as its black. They’re not customized at all,” said the Chief Marketing Officer of CVS Rob Price at Ad Age’s CMO Strategy Summit in San Francisco.
CVS is not idly standing by, waiting for the Model-T to become extinct, however. Instead, the drug store chain is aggressively experimenting with personalized deals for its shoppers, according to The New York Times.
CVS is supporting the new concept with television commercials and email campaigns with the message, “What’s Your Deal?”
Watch and listen to Price describing the strategy to Advertising Age.
Free Standing Inserts (FSIs) are one of the last strongholds for newspapers in many markets. The CVS campaign represents both a serious threat and an opportunity.
We are biased, of course, but at CTW we believe every newspaper with Free Standing Inserts should publish Jill Cataldo’s couponing columns in print and videos online. It’s a great way to help readers save money and make the most of what the paper has to offer.
In addition, newspapers need to recognize that weekly circulars need to be modernized or they will go the way of the Model-T. We need to find ways to make FSIs more personal, more targeted and more relevant to seek ways to attract/retain subscribers, and soon.