The time has come for the newspaper and media companies to help themselves and their sales
departments drive more revenue at a higher rate. Year after year, it has become increasingly difficult for sales to lure businesses into spending their dollars on display advertising thanks, in large part, to the performance marketing opportunities.
Many advertisers have lost sight of the place where their market is most easily found, the hyperlocal news space. According to the National Newspaper Association (NAA), local newspapers (those with a daily circulation of 15k or less) are highly popular and important sources of information for communities across the nation, with 69% of respondents reporting that “newspapers provided valuable local shopping and advertising information.”
Given these types of statistics, it makes sense for businesses to advertise within the local media sphere.
Media companies must re-establish how they treat advertisers and local merchants and find more
enticing ways to help them market and promote their businesses, in turn, strengthening the relationship.
Publishers need to cultivate a teamwork strategy of not only providing advertising space but also
offering a means of active promotion for advertisers beyond the scope of simple banner ads. Below are
a few potential avenues to facilitate this process:
Leveraging online coupons is a great way to provide advertisers with a greater ROI for their marketing
dollars. Publishers can offer online coupons as a more stable method of increasing their bottom line,
opening their business up to service providers and other advertisers that are not very likely to succeed
as a daily deal. With coupons, advertisers can track how many people download or print each coupon
as well as have a steadier pace of customers.
Local media is the most logical seller of daily deals. They already have sales teams in place who
have a relationship with local merchants, and they have a very loyal database of local consumers who
can benefit from the offering of deals. Publishers who have already made inroads into the daily deal
marketplace have seen fantastic results despite the recent negative press encompassing the deal space.
Publishers that are offering more detailed analytics on the ads on their sites are seeing increased advertising, and are having an easier time selling space to businesses. SMBs who are weary of advertising with their local publishers can’t afford to ignore actionable data on their existing and potential customers. Publishers who offer coupon marketplaces, deals, and contests have such data at their finger tips, ultimately making it easier to advertise on their sites.
When local media companies make web ads available to their print advertisers is it intrinsically opens the door to much more active form of advertising which in turn increases the value of the publisher with their readership.