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Jared Launius and Hojong Kim with RJI fellow Peter Meng

Jared Launius and Hojong Kim with RJI fellow Peter Meng. It starts with a problem…. Newspapers have lost an estimated $16 billion in classified ad revenues since the advent of Craigslist 15 years ago Fact: this has helped contribute to the closing of several newspapers

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Jared Launius and Hojong Kim with RJI fellow Peter Meng

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  1. Jared Launius and Hojong Kim with RJI fellow Peter Meng

  2. It starts with a problem… • Newspapers have lost an estimated $16 billion in classified ad revenues since the advent of Craigslist 15 years ago • Fact: this has helped contribute to the closing of several newspapers • Opinion: as a side-effect, it has impacted the quality of news, particularly local news

  3. …and it’s difficult to address • Craigslist leaves approximately $6 billion on the table every year • Fact: It would take an estimated $1 billion in advertising to take them head on • Opinion: that is a lot of money

  4. AdFreeq: an introduction • A white-label site operated and branded through local online publications, primarily newspapers • Cloud-based – operates and updates in real time using ads in system, on social media • Offers free and low-cost ads to sellers • Offers reliable, instant products to buyers

  5. So, back to that problem… • Isn’t a 1 vs. 1 battle • “Instead of David vs. Goliath, it’s thousands of Davids vs. one Goliath.” • Ads can bring in revenues for publications • Users have access to system they can trust

  6. Our involvement • Goals revolved around getting product ready for the market • Conduct research on both host and consumer markets • Discover best way to organize ad categories • Work with potential clients • Produce and develop content to market the product

  7. Research …of potential users …of potential hosts What we wanted to know What’s their current system? Proprietary? Custom? Free? Paid-for? What are their levels of satisfaction with their current models? What social media does the publication already integrate to push content? • What we wanted to know • How receptive are users to using a classified system that charges? How much will they pay? • Do users already use social media to buy and sell products? • Does it matter to them who’s running the system?

  8. Survey of potential users Conducted on SurveyMonkey • 308 respondents • 67 percent were female • 94 percent were college age • Disseminated over J-school ListServ and over social media

  9. What we learned from users

  10. What we learned from users

  11. What we learned from users

  12. What we learned from potential hosts • Survey was conducted thanks to help from RJI • Sent nine-question survey to over 5,000 publications • 285 took survey • 50% were rural publications and 50% were weeklies

  13. What we learned from hosts

  14. What we learned from hosts What is the average price per week to post a classified ad in your publication? Also, please indicate whether you offer free classified ad postings. • $35 for 35 words or 7 lines for 2 insertion in English or Punjabi papers / Classified Display ad $45 for B&W and $ 55 for Color per insertion of 3.25"(W) x 2" (H). • $15.00 plus tax plus free on our web site. • $37.50 and yes we do off FREE classified ads on Tue, Wed, and Thur. • $15.36 for a 20 word ad free lost and found ads free ads for giveaways. • $19.95 line ad $37.45 1x1 classified display for two issues. • $50 is the average. We offer a free ad for private party merchandise items valued under $500. 1 per month allowed. The ad size is a 1/4" depth (we have a 4 column format). • $50.96 for a 4-line ad. We do offer a Grandma's Attic feature for articles selling for under $500. The price of ad is based on the asking price of the item. $25 and under are FREE. • We offer free private party ads. Paid private party ads start at $5/week. Commercial classified ads start at $15.70 per week. • Average price $20 However, we do offer some free classifieds. • Depends on the category Merchandise- $22.50 Auto-$39.50 Real Estate-$59.50 Pets/Announcements/ -$39.50. • That is a difficult question to answer as we have some private party ads that cost as little a $10 on and then employment ads that are very expensive. No FREE ads – • The cost great depends on what type of advertising you are doing. There are different rates for private party vs. commercial businesses vs. recruitment.

  15. What we learned from hosts

  16. What we learned from hosts

  17. Classified taxonomies • Studied and analyzed taxonomies from some 15 different classified sites • Used that research to build a list of our own that could potentially be used as a model for AdFreeq to organize its items

  18. Involvement with clients • Originally planned to work with and manage clients in test markets • Were able to make several connections via survey

  19. Supporting content • Developed a substantial amount of content for Peter to use at fairs, presentations, etc. • Made site mock-ups, research summaries, infographics based on our research, animations and posters

  20. Supporting Content

  21. Supporting Content

  22. What we learned

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