Promotional spending is big business. Newspapers can increase revenue, engagement, data collection and advertiser growth through reader promotions, advertiser promotions, and by hosting a “Best of the Best” event. Here are some helpful hints:
- Hype the promotion - offer a unique “experiential” prize package to quiz, sweepstakes, photo contest, etc. winners. Instead of simply awarding two concert tickets, include dinner, limousine ride, hotel accommodations, meet and greet with the band, and signed merchandise.
- The bigger the prize, the more information registrants are willing to share – this is valuable to grow your database and provide targeted messaging for your own products, and for those of your advertisers.
- Work with advertisers to develop wraparound advertising programs – a local YWCA may promote health and fitness, followed by child care services, followed by summer camp options. Preplan to extend the promotions throughout the year.
- Launch a “Best of the Best” promotion with corresponding event, and maximize the number of business categories that will be voted on. Offer reward dollars to new advertisers/participants that can be applied toward a future ad campaign.
- Change the conversation with advertisers from trying to sell products, to selling customer acquisition and marketing sales leads.