Innovative Revenue Generation Strategies at Daily Herald
Daily Herald implemented several novel revenue-generating initiatives involving low-risk job fairs, engaging events, enhanced print listings, and a premium position optimization program. These innovative strategies resulted in increased revenue streams and improved sales performance. The partnerships, promotions, and enhancements introduced showcased a proactive approach towards driving profitability and sustainability in a competitive newspaper industry landscape.
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Low Risk Low Effort Job Fairs Newspaper of Origin: Daily Herald Description: Partnership between Daily Herald and Shaw media with job fair vendor who does job fairs nationally and entered into promotional partnership. They handle sales and we market and promote. Judging Category: New Idea Events Results: Each party will net $10,000. No sales Commissions, no events team hours required. Promotional expense limited because used existing remnant space of unsold premium positions in print, and online. 2-3X Per year
Events Best of the Best Readers Choice Newspaper of Origin: Daily Herald Description: Reader s Choice Event Readers Choice has been a staple and anchor of our Special Sections Budget, with a section goal each year of $100,000-$110,00. In effort to refresh and increase revenue we added a Best of the Best banquet to Celebrate the winners. Judging Category: New Idea / Event Results: $26,000 sold in combination of sponsorships and ticket sales. Goal for 2017 $45,000. Contact Info: Pete Rosengren, 847-427-4645. Prosengren@dailyherald.com
Print Enhanced Listings Sales Revenue Newspaper of Origin: Daily Herald Description: After seeing our Chamber division make substantial revenue from running list with a small enhancement package for advertisers who didn t buy a display ad in the books, we explored with our own sections. Judging Category: New Idea Print Results: Though automation we have run these lists in (3) sections so far, which generated $18,000 in incremental, passive revenue. Contact Info: Pete Rosengren, 847-427-4645. Prosengren@dailyherald.com
Premium Position Optimization Program Newspaper of Origin: Daily Herald Description: Created within layout system a daily report telling the reps what premium positions are available for sale. Judging Category: Sales Results: Premium bookings up from 30% STR to 60% in 90 days Contact Info: Pete Rosengren, 847-427-4645. Prosengren@dailyherald.com
