Embrace; Don’t Fear Bezos’ Washington Post Buy

Embrace; Don’t Fear Bezos’ Washington Post Buy

Should we be scared that Amazon’s Jeff Bezos has bought the Washington Post?

Certainly not.

I love how Amazon has improved my life pursuits. In recent weeks, I bought print cartridges, CDs and a Bushnell golf rangefinder from the site. I read my Chicago Sun-Times and Chicago Tribune on my tablet and smartphone’s Kindle app.

There’s no argument that Amazon has simplified and become a valuable asset in so many aspects of our lives.

Based on what Bezos’s innovation success with Amazon, I am excited and optimistic about this opportunity for the news business.

There are many benefits for the readers as L. Gordon Crovitz points out in his Wall Street Journal column.

I am particularly impressed with his thoughts

  • While newspaper advertising revenues are declining, more people are consuming news. Convenient access is paying off.
  • Circulation for US newspapers rose 5% in 2012, the first increase in a decade and this is attributable to readers’ response to all access paid subscriptions including all digital versions. Find your audience and satisfy them is powerful.
  • Amazon is the king of customer satisfaction and you can expect this to continue as Bezos reshapes the paper. Customers want to be valued.
  • Reliance on readers creates a valuable feedback mechanism, and as a data monster, Amazon eventually could produce a more personalized newspaper. How exciting would that be for readers and advertisers?

Convenience, satisfaction, valued relationships and personalization sound like the soul of any successful enterprise, and the basis for a new valuable asset for marketers.

Let’s hope that this is the beginning of the next evolution of the newspaper business.

Are you scared or excited about this development?

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