With the continued rise in the value of social media and the resulting ability to hyper-target ads, many publications have now realized the gold mine on which they are sitting.
When newspaper subscribers or website visitors give their email addresses to these companies, they often “opt in” to receive certain emails. Maybe it’s a weekly sports update, or daily business headlines; these subscribers have now opened themselves up to be advertised to in a whole other way. Because the reader can choose what emails he wants, based on his interests and preferences, he effectively self-selects his demographic. If he indicates an interest in local restaurants and entertainment, proprietors of such goods may rightfully believe that this reader will be likely to take an interest in their offerings as well.
Some news sites have even gone so far as to offer their subscribers “opportunities from our advertisers.” These emails are completely taken over by an advertiser and go out to the site’s opt-in list on the advertiser’s behalf. I wanted to go over some of the ways that advertisers and news sites are working together to bring relevant content to interested consumers locally.
Newsday has three such opportunities. There are eight themed enewsletters that go out either Monday through Friday, or once a week. All of these newsletters allow for a 3.5×3” cube ad near the top of the email. They can be targeted to subscribers in specific zip codes and paid for by the thousand. Newsday also offers an email message called AdMail, which allows advertisers to completely take over an email with their own text and images. Though the advertiser will never be given the subscriber list, they will receive a click-through report informing them of who and how many took interest in their ad. Newsday AdMails can only be targeted by county and go to about 60,000 subscribers in Suffolk and 45,000 in Nassau at $50/thousand.
The third option for advertisers looking to reach Newsday subscribers is the new Daily Deal program. This is a collective buying opportunity, similar to Groupon. The advertiser offers a product or service for at least 50% off and splits the resulting proceeds with the email agent. Newsday’s version goes to over 10,000 subscribers and includes a free half-page print ad and banner ads on the website during the day their deal is scheduled to run (only one advertiser deal per day). There is no up-front cost to the advertiser, though the program is what is known as a “loss leader,” since vendors end up only receiving roughly 25% of the usual price for an item.
The LI Press also offers banner ads in their weekly KIOLI (Keep It On Long Island) newsletter, which goes to 50,000 subscribers, and takeover AdMail messages that can target specific groups of people. The AdMail groups can be customized by zip code, gender, age and interests. Depending on the specificity of the list, the cost per thousand can be as high as $100 or more, but this price is supported by the quality of the targets. Unlike the Newsday AdMail, which is sometimes wasted on too broad a demographic, the LI Press AdMails really target those likely to have the greatest interest. Of course, these ads also include the valuable click-through reports.
The LI Pulse offers their Executive Eblasts, which go to the “über consumer[s] and VIPs of the region,” but are, in our opinion, overpriced at over $1,500 per email to a single list of about 7,800 subscribers ($192/thousand).
Any of these options provides a cost-effective way to target the consumers most likely to become your customers. For more information, or for help structuring a comprehensive marketing plan, contact PRMG.