Keeping your digital newspaper solution simple yet flexible is the key to obtaining a substantial and consistent ROI from both your subscription revenue and your advertisers.
The digital space can be overwhelming in terms of how to reap benefits from creating a digital edition, especially if your community is small. But case studies have proven that the smaller your community, the more opportunities you have to create additional streams of revenue using your digital edition as the driver. These can be implemented simply and easily, several times throughout the year.
All you need is the flexibility to add interactive features such as video, photo galleries, maps or online reader polls (to name a few) to create significant advertising incentives using your digital edition.
Here are three extremely powerful examples of digital ROI incentives taken from case studies that have proven to be top winners for local digital newspapers, no matter where you are located.
1. Advertiser Social Media Packages
Local papers have begun to sell advertising social media packages as a bundled offer to local businesses for incredible additional ROI’s throughout the year. This is a simple yet powerful opportunity for your paper to generate a great return for the business as well as a huge buzz for your digital edition.
A local jewelry store wanted to increase sales in its local community, but did not know how to create a buzz with their local clients. The local paper proposed they purchase a social media package that ran for a three month period. The paper announced in their print edition that the jewelry store was holding a contest with a significant prize for the winners. All the details for entering were done through the digital version of the newspaper, and one of the requirements was to like the Facebook page of the jewelry store. The jewelry store ended up with a huge jump in their online presence, as well as hundreds of new customers during their off-season. The newspaper ended up with a very satisfied advertiser and one additional advertising revenue stream for the year.
2. Print-To-Digital Contest
Holding a print-to-digital contest is perfect for your niche sections, such as cars or bridal. You can hold online contests periodically throughout the year without actually holding a live event, all the while driving your readers to indulge in your digital edition that your advertisers reap additional large ROI’s from.
You hold a bridal contest for brides-to-be to win a number of gifts for their weddings. You announce the contest in your print edition, sending each contestant to enter via your digital edition. In the section you use for their entries you showcase the advertisers who are giving away the gifts to the winners, and allow them to take part in choosing the winners. The advertisers receive additional ad revenue they weren’t expecting as a result, as well as raise awareness of their product in a very short amount of time.
3. Fan Base Growth Through Digital
Taking reader polls can serve as a very powerful tool for gathering reader insight, as well as increase your digital growth. You can do these several times throughout the year, putting a new and fun spin on it each time to keep your readers interested and engaged.
You announce in your print edition that you are holding a contest and giving away a prize for all readers who participate in your current reader poll. The poll must be taken via your digital edition. You choose an advertiser who is willing to provide the prize, and showcase them in the section where the readers take the poll. In the end, you have new, fresh reader insight as well as an additional advertising ROI.
Having a simple yet powerful digital version of your paper can allow you to take your whole business model to the next level of engagement. No matter how small your community may be, when you include your readers in online events, providing them with value as well as asking for their participation, you can summon more traffic than you ever thought possible.