Turning trust into money

10_– 12 October 2011, Vienna, Reed Messe Wien

Session: Innovative AdvertisingTitle: Turning trust into moneySpeaker: Grig Davidovitz, CEO, RGB Media, Israel

Media Port

TURNING TRUST INTO MONEYA NEW REVENUE MODEL FOR

ONLINE NEWSPAPERS

Grig DavidovitzOctober 2011

Mittwoch, 12. Oktober 2011

Turning Trust into Money: A New Revenue Model for Online Newspapers | Grig Davidovitz

Google

Doesn’t try to blindly convert eyeballs into money

Google

Doesn’t try to blindly convert eyeballs into moneyDeveloped a revenue model that is connected to it’s core business and unique advantage: SEARCH

Google

Doesn’t try to blindly convert eyeballs into moneyDeveloped a revenue model that is connected to their core business and unique advantage: SEARCH

Google

Doesn’t try to blindly convert eyeballs into moneyDeveloped a revenue model that is connected to their core business and unique advantage: SEARCHThe principle: “We know what you’re searching for, and we can match the best ads for your search”

Google

Newspapers

The need: to develop an revenue model that leverages the core business/unique advantage of newspapers.

What is the newspapers’ core business/unique advantage?

C R E D I B I L I T Y

“Truth agents” of the society (core business).

A primary source of information about the world (core business).

More credible than most other sites (unique advantage).

Integrating newspapers in the customer’s cycle

How can credibility be turned into revenue?Turning Trust into Money: A New Revenue Model for Online Newspapers | Grig Davidovitz

How can credibility be turned into revenue?

First question: What is the best value for money in the category?

Second question: What is the best price for the products/services recommended?

Third question: How can I buy?

Newspapers: best agents to answer the first question

Newspapers: best agents to answer the first question• Have credibility

Newspapers: best agents to answer the first question• Have credibility• Have the information/methodology to obtain it

Newspapers: best agents to answer the first question• Have credibility• Have the information/methodology to obtain it• Have the SEO juice

After answering the first question - answer the next

Reader → Consumer = Revenue

Newspapers: best agents to answer the first question• Have credibility• Have the information/methodology to obtain it• Have the SEO power

An example

First question: What is the best laptop?

An example

Google - Searches/month in the US

An example

Best laptop: 246,000

An example

Best laptop: 246,000Laptop reviews: 110,000

An example

Best laptop: 246,000Laptop reviews: 110,000Laptops: 1,830,000

An example

Solution: create landing pages according to the users’ queries

An example

Solution: create landing pages according to the users’ queries

An example

Solution: create landing pages according to the customers’ queries

An example

Solution: create landing pages according to the customers’ queries

(Once establishing brand recognition, users will also start coming directly to the review section)

An example

Solution: different ecommerce links, including links from price comparison sites

An example

Third question: How to buy?

An example

Solution: Monetization links

An example

1. Price comparison

An example

1. Price comparison

2. Amazon and other affiliates

An example

1. Price comparison

2. Affiliates (Amazon)

3. Contextual ads (AdSense, etc)

An example

1. Price comparison

2. Affiliates (Amazon)

3. Contextual ads (AdSense, etc)Highly effective - not everybody buys!

How to create the content?Turning Trust into Money: A New Revenue Model for Online Newspapers | Grig Davidovitz

1. Many times it already exists

How to create the content?

... but - is this the right headline?

2. Rearrange information that was already created

2. Rearrange information that was already createdBest theater shows, according to the existing expert ranking

3. Ask your expert to create the content

3. Ask your expert to create the contentWhat are the best laptops?

4. Aggregate

5. Buy it

4. Aggregate

5. Buy it

4. Aggregate

5. Buy it

Best theater shows, according to the existing expert ranking

4. Aggregate

5. Buy it

Best theater shows, according to the existing expert ranking

4. Aggregate

5. Buy it

What about existing actionable content?Turning Trust into Money: A New Revenue Model for Online Newspapers | Grig Davidovitz

What about existing actionable content?

Monetization widget

Every article with relevant products/services has a monetization widget that enables users to act on what they read

Monetization widget

Fly to PortoExpedia - from 195

BA - from 295

IBERIA - from 255

Packages to Porto

Monetization widget

BA - from 295

IBERIA - from 255

Packages to Porto

Experiment: 2% click through rate (+ 5% conversion rate)

Monetization widget

BA - from 295

IBERIA - from 255

Packages to Porto

Aggressive AdSense implementation

Monetization widget

BA - from 295

IBERIA - from 255

Packages to Porto

But... Accidental consumption is NOT the main stream of revenue

Monetization widget

BA - from 295

IBERIA - from 255

Packages to Porto

But... Incidental consumption is NOT the main revenue stream

Monetization widget

BA - from 295

IBERIA - from 255

Packages to Porto

Not enough!

But... Incidental consumption is NOT the main revenue stream

AdvantagesTurning Trust into Money: A New Revenue Model for Online Newspapers | Grig Davidovitz

Advantages

1. Creating a new, substantial revenue stream

Advantages

Average online newspaper RPM in US: $8-10

Advantages

Average online newspaper RPM in US: $8-10Average review site RPM in US: $40

Advantages

In some verticals (online brokers, fitness equipment): over $100

Advantages

On top of display!

In some verticals (online brokers, fitness equipment): over $100

Advantages

2. Diversifying the monetization model

Advantages

Pay per View

Pay per Click Pay per Action

Advantages

Pay per View

The risk for the advertiser

Advantages

Pay per View

Maximal

Advantages

Pay per View

Maximal

Advantages

Pay per View

Maximal ZERO!

Advantages

3. Access to a new pie: the sales pie

Advantages

Traditional revenue sources

Advantages

Advertising pie

Online - GoogleOnline - othersAll the rest

Advantages

Advertising pie

+ Selling information

Advantages

Traditional revenue sources The new revenue model

Advertising pie

Advantages

Traditional revenue sources The new revenue model

Advertising pie

Sales pie

Advantages

4. Solving one of the biggest problems online: too much information to choose from

Advantages

What is the best laptop for me?

Advantages

?Who can I trust

Advantages

4. Solving one of the biggest problems today: too much information to choose from

Advantages

5. Improving the user experience

Advantages

I wanna buy this book!

It starts happening...Consumer Search was acquired by The New York Times for 33 million dollars

The New York Times holiday gift guide

Fashion Telegraph

(if it were a newspaper)

TURN TRUST INTO MONEY

A NEW REVENUE MODEL FOR

ONLINE NEWSPAPERS

(if it were a newspaper)

Turning trust into money

Business

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