Who Killed Global Yellow Pages?
by Willy Lim
The End of the Road for Yellow Pages?
I just read the Channel News Asia report that Global Yellow Pages experiences a huge 45.8% fall in net profit for Q3.
Global Yellow Pages said that the decline in revenue is in part due to the economic recession. This may be true, but I think to a very small extent. Businesses STILL advertise. The question is really where are businesses spending their advertising dollars now.
The article "Marketers to Spend More on Social Media as Usage Skyrockets" stated that 66% of marketers intend to invest in social media in the next 12 months. Our recent survey results, which are published in the Straits Times article "Asian firms go big on Twitter and Facebook", shows that 80% of local businesses intend to spend more on social media marketing in the future.
To me, telephone directory listings had this coming towards them with the rise of social media. People no longer search for businesses using these hard copy telephone directories. Without a change in business direction and model, Global Yellow Pages and all other telephone directory listings will go the way of the telegram.
2010 is going to be the year social media becomes mainstream media.
And like how email killed telegram, social media will kill telephone directory listings.
What are your views?
Do you think Yellow Pages still have a place in the business world?