Verizon issued a press release discussing their growth as an independent publisher and touting the strength of their brand.
In one sense, they are absolutely correct in the strength of their brand. Last year, they spent more promoting their brand than any other company in the US. They spent something north of $800 million on brand advertising.
So does that translate into operating a strong independent Yellow Pages publishing arm?
While I can't claim any inside information, my observations tell me that it has been much more difficult than Verizon's letting on.
Yellow Book has a list on its website showing several markets that Verizon has either abandoned or sold to a competitor. Is it a small percentage? Well, when you are one of the largest directory publishers in the world, it is a small percentage.
If you are a small business owner who has invested a major portion of your annual advertising budget in an abandoned market, it is much more meaningful.
I'm not here to throw stones at Verizon. Quite the contrary. I am a long-term shareholder.
However, as an advocate for local advertisers, it is important to be able to systematically evaluate directories before investing in any of them.
Here's the rule. . .
If a directory has great content that is easy to use, the directory will be used by consumers.
If the directory is under-developed (industry-speak for lousy ad sales), it will not be used regardless of the brand on the cover.
The next YP Commando Newsletter will deal with simple methods of selecting a directory for your advertising. Make sure you sign up.