This speech was given by Jedd Gould, of Mediabids, to the Suburban Newspaper Association and Southern Newspaper Publishers Association’s Strategic Revenue Summit yesterday.
Advertiser’s Expectations Have Changed, So Should You
10 years ago
Mediabids launched and we have been doing per-response advertising in addition
to our conventional online marketplace sales for the past 4 years.
I have been
asked to speak a little bit about response-based advertising and there are
specific methods that we have developed at Mediabids to handle the demand we
have for per-response advertising in print. Not all of these may be right for
your publication but here is how we do it:
–
We
typically work with advertisers who are willing to pay for an unlimited amount
of response.
–
Response
is typically defined as a call, a web visit or a text.
–
Response
based advertising is heavily reliant upon tracking of the response generated by
an ad. At Mediabids we got into charging advertisers on a per response basis because
we saw the need for tracking and better understanding the results that print
ads were generating.
–
Every
ad that we place has a unique identifier, so we know what each publication is
generating.
o
In
2009 we placed 66,350 per response ads for more than 500,000 total insertions.
o
Every
single ad we placed had a unique phone number.
o
We then track using the data generated from
800 numbers to determine what a publication is owed.
o
Advertisers
typically pay based on either a per-call or per-sale basis and the amounts vary
depending on the type of product and the anticipated volume.
–
We
give publications the choice of which advertisers they want to run, we resize
the ad to their specifications, insert the uniq
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