Friday, May 25, 2018

Think like the advertiser to grow your revenue


We always need to consider the audience (the advertiser) when creating our advertising rates and options, and we need to see how print and online can work together.

If I were an advertiser, I would want some specific information:

With fewer issues of the print product, I get fewer opportunities to appeal to eyeballs. I vaguely care about the publication's goal of more in-depth coverage, but when it comes to my sparse ad dollars, I really care about getting some sort of return (beyond the good feeling of supporting the school). Do the four, or six, or whatever publication dates connect to any major events that might help me target my ads? For instance: Would that Dec. 15 issue be a good fit for a "pick up that last minute gift" sort of ad? Is the March issue the best choice to market my prom offers?

Is there any way to give me a heads up on the focus of a particular issue? When we publish twice a semester, the trend is to "theme" most issues, starting with an idea WAY up the ladder of abstraction (like love or "your voice" or patriotism or stress...) and then including a variety of coverage that investigates the esoteric ideas at a much more grounded level. If I were a business that had some connection with a particular theme, I might be more motivated to be part of that issue. Do I need student workers? I need to advertise in issue 1, but I may have lots of turnover, so continual ads may be good for me.
Why be stingy with the social media "shout-outs? I might gladly pay a reasonable rate for a commitment of a social media post each WEEK. But I also want to know how this will work. Do I share a message (and an image or two) with your staff, which then posts? Does the staff create a message, based on information I supply? My business may or may not have its own social media accounts, so how can they work together with the school media program?
I am interested in eyeballs, ultimately, so can you share how many social media followers you have (that can help me decide on whether this is worthwhile)? If your Facebook or Instagram feed, for instance, consistently reaches 600 students, that is great market penetration and I might want to know if I can ONLY advertise on your Facebook or Instagram page (or perhaps on ALL your social media accounts). That might be worth a lot more to me than a print ad that appears four times per year.
Can you share with me the number of papers that get picked up each issue? Is there any way to estimate the number of readers there are each issue? Some research shows that each copy of a school magazine is viewed by up to 3 or 4 people (shared at home or with friends from another school, for instance). Do any papers get distributed through professional offices or Hy-Vee, or the local libraries, or other places that might welcome free publications? Circulation numbers translate to eyeballs.
Can you share any numbers from Google Analytics that could indicate how many times the home page is viewed each week or month? With SNO, you can include ads on INSIDE pages (beyond the homepage) that might generate more readership. This matters if people are arriving at your website often by clicking on a link to a particular piece of coverage they find through social media (and that is the overwhelming trend). No one bookmarks websites anymore, so you might think about where on your site any display ad will receive the most eyeballs.
Can I count on students to actually create at least some of my ads? I don't have the expertise, and normally hire someone to do this. Having that service included is attractive.

That's a lot to think about, I know. The key is to START with the audience in mind, and create ad programs that can create additional revenue for the advertiser (or increase usage, in the case of some services, like Planned Parenthood or Scouts, or even a church, if that is allowed in your ad policy).

I must admit that for most of my advising career, I tended to start with OUR needs in mind, and I think we missed chances to be better partners with our community.

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