I attended an AOP forum this week where, amongst others, Jim Mullen, Head of Digital Commercial for News International, shared the story of Sun Bingo, a huge revenue earner for NI. What can you learn from his experience if you want to develop new revenue sources on your site and you don’t quite have the Sun’s Budget? Here’s some useful tips…
1. Know your reader
Take the time to research your reader; don’t offer services that don’t match their needs or their perception of your brand. Keep asking them for feedback on the offer and your customer service. Offer offline options as an alternative.
2. Be ruthlessly focussed, and make sure you are unique
Just do one or two offers really well. If you use white-label technology make sure you add a unique element
3. Exploit your media strengths
Editorial creativity is your secret weapon – use it to find your unique spin on the offer. Cross-promote with your other media assets, and use your new offer to generate stories – eg Sun Bingo winners are featured in the paper.
4. Choose partners with care
Set high standards of customer service for your partner. Take time to choose a partner you can work with long-term
5. Take a long term view
This isn’t a quick win. You have to build trust with consumer and learn over time.
Do share your successes in creating new revenue sources – just comment below
Penmaen Media advise media businesses on using digital to grow their revenues. To find out more look at www.penmaen.media