Contests — and the revenue opportunity that they offer — are changing in big ways.
The Local Media Association recently produced a report examining how media companies are using first-day data collected from contests to drive new products and additional revenue.
Here are four things you will learn in the report:
1. Second Street Media, which is featured in the report, shared a great acronym any sales force could get behind: ABCD: Always Be Collecting Data. They suggest using a variety of avenues to obtain emails like newsletters, website exit/entry and promotions.
2. One publisher in Illinois is effectively using their first data to create additional newsletters. They used their Athlete of the Week feature as a way to get people to opt in to a new high school sports newsletter.
3. Data like zip codes or birth dates can lead to new products like birthday email campaigns or helping advertisers target a specific demographic.
4. Creativity with contests rules. Sure, it’s a good idea to do the ones that always work year in and year out like Pets and Babies but ones that are very local to your market and are creative have the potential to get your audience or new audiences very engaged.