Advertising as we know it has been evolving and changing…
That’s an understatement. We are constantly bombarded with advertisements on every type of medium we hear or see. Whether we are listening to the radio or Pandora, watching an online video, TV, or the news, browsing Facebook, reading the newspaper or a magazine, or one of the other media outlets – we are continually bombarded with ads. This is because a majority of revenue a media publisher receives is from selling advertising and media buys to merchants.
Marketing and advertising continue to change before our eyes and my belief is that the most important forms of advertising for any company nowadays comes from time-specific promotions, geo-targeted advertising, and user generated recommendations. The internet and our socially connected world has been shaking up the advertising industry for over 20 years now.
Most of us prefer to take a recommendation from someone that we know, like, and trust – over some stranger advertising on a website. When an advertisement gets in front of us at the right time, the ad ceases to be annoying and becomes a helpful tool.
Advertisements have been annoying people for a long, long time and it won’t be slowing down anytime soon. Successful advertising has been evolving before our eyes with a focus on user generated recommendations, geo-targeting, and time specific promotions. These factors are a large reason why businesses continue to run daily deal and coupon promotions.
Daily deal promotions are designed to be very time specific; meaning the business can target the promotion during periods that maximize their effect promotion. It can be easily geo-targeted so only people nearby the business see the promotion. User generated traffic and recommendations have been a cornerstone of successful websites, and daily deals thrive from user generated recommendations.
The first example that comes to my mind is SweetJack.com. Anytime I turn on the radio in Atlanta, I hear ads for SweetJack, which is owned by Cumulus, and have actually been pushed to check them out and even buy an offering from them.
Here are 5 ways that newspapers and other media publishers are winning with daily deals and coupons.
1. Advertising Frequency
When a newspaper or media publisher runs their own daily deal site, it allows them to get in touch with their audience more often by offering valuable services at a discount and increasing their bottom lines. This can enable the publisher to spend less time interrupting their viewers and listeners, and more time building a specific subscriber base that is interested to be emailed deals. The publisher could allow the user to select which types of deals they would like to be emailed about and even the frequency of emails.
2. Offering Timely & Relevant Deals
One of the missions of a media publisher is to provide timely and relevant content to their audience. Likewise, their advertising and media buying models can work most effectively when they provide timely, relevant and related deals to their audience and target market. When done properly, this can generate more loyalty, engagement and trust from the audience.
3. The “Pieces” Are Already in Place
Newspapers and other media publishers have been offering advertising to businesses for a long time. By running a daily deal promotion, it allows the media publisher to implement a new form of advertising for their merchants / advertisers to try out.
Having an active audience and good-standing merchant relationships are two of the core ingredients needed to run a daily deal. Newspapers and media publishers typically have both of those. By running time specific promotions in a daily deal type of format, businesses continue to see an increase in sales conversion rates due to psychological triggers such as timer and unit countdowns.
4. Deal “Brokering” & Aggregating
Newspapers and media publishers can successfully run their own deal site and see success in doing so, but one component that is not being capitalized upon enough is the act of brokering deals to other daily deal sites. Media publishers can take their existing merchant relationships and offer to run a deal promotion to their audience. Rather than stopping there, they could then offer to broker the same deal to a wide range of other daily deal sites that are actively looking for quality deals to run. When done properly, the media publisher could cut themselves in on those brokered deals and generate even more revenue. There are no shortages of daily deal websites operating around the globe, and brokering deals that are already being structured to other avenues can be a superb way to grow bottom lines.
On the flip side, publishers could aggregate deals from other daily deal sites and promote those deals to their audience. Most deal sites offer an affiliate commission, and I would imagine that many of them would be willing to cut a larger media publisher a heftier commission.
5. List-Building
Newspapers and other media publishers have been in the business of striving to grow large audiences for centuries. Many of them do not have an active email database or as large of a social media presence as they could have. Deal sites specialize in growing a list of geo-targeted, responsive subscribers. By successfully, implementing a daily deal component, the media publisher can segment their subscriber base and build a more engaged loyal following.
Send us an email at support@hcdesk.com to set up a time to discuss how our team here at DailyDealBuilder.com can help you further monetize your audience.
Feel free to leave us a comment below and make moves today,
Marc D. Horne
(800)794-7192
support@hcdesk.com
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