I think many of us were surprised to learn that nearly two dozen trade publications owned by Reed Business Information were shut down last week. Among the closures were such venerable industry-leading titles as Plant Engineering Professional Builder Trade Show Week Purchasing Consulting Specifying Engineer and Converting.

The demise of a trade publication or two is not surprising as more and more people migrate to the Internet for their industry news. But the closing of so many industry icons in one fell swoop underscores just how rapidly and profound the migration from print to digital is occurring. Even the surviving trade magazines have been making this transition over the last several months. It’s much easier and convenient to gain most of the information you need from a vast array of industry resources with a few clicks of the mouse.

The other major “take-away” I get from the closing of all these publications is that companies now have ad dollars they should reallocate to social media. As we all know social media is the fastest growing and can be one of the most effective methods of engaging your customers and prospects. Many companies have been hesitant to jump into the social media stratosphere in part due to lack of budgets and/or staff. Now is the time to use those dollars that were allocated to print ads in publications that no longer exist to retain a social media agency and/or hire an internal social media expert. Please give me a call if you would like to discuss (a free consultation) what is involved with launching and/or enhancing your social media program (312.332.4650 ext.22).

P.S. A shout out to my trade publication friends: I think select trade publications will continue to thrive (print and digitally) and serve as valuable marketing tools. They are certainly our partners and their value extends to our social media efforts as well.