Monthly Archives: November 2015
Greetings DMIers. One of the big conundrums with our digital media concepts is the revenue section. Most of you are using advertising in some way as a revenue source. Advertising is appropriate as long as its implemented in effective ways that do not turn off members of your market.
There are many details that you’ll need to think through in terms of your advertising plans. Some of those topics include:
- What types of advertising will you use?
- Where in your product will those ads appear and how often (ad inventory)?
- In the case of sponsored content, how are you going to be transparent to your market in the labeling of these paid-for spots?
- How much are you going to charge for each category of ad you’re going to sell?
To help get us started on that last bullet, take a look at some of these resources:
- Quirk’s Online Advertising Guide: this is helpful to think of the different areas, sizes and options in web pages for advertising.
- Digiday’s 2013 article showing how much it costs to run certain types of ads on well-known sites.
- Promise Media offers a section identifying how to develop online ad rates, rates cards and more.
- Association Media Publishing has a great list of key terms you need to be familiar with in the online advertising area. Some of these terms are also covered in Briggs but not all of them.
We’ll chat more about this in class as we continue to develop our Money & Marketing plans
Greetings DMSers. Nice job with the mini-pitches yesterday about your markets. Our next one will be Thursday, Nov. 12 and will focus on revenue generation. You’ll have 3 minutes total to talk up how you’re going to monetize your concept.
Since we’re focusing on The Pitch (remember it’s two parts: the verbal and the deck), I want to share some resources that can help in the development of your story:
The exact pitch deck strategy I’ve used to raise $125M since 2011 by Mitchell Harper. While some of his content is beyond the scope of our class exercise, several tips are really worth using.
He has another post, How to nail your investor pitch and walk away with multiple term sheets, with great advice also. Check out #5 through #9, which all apply in some way to our assignment.
Finally, I mentioned a great piece in This American Life about a journalist pitching an investor on the streets of San Francisco. Listen to that one here. Dive into the “I’ve got 99 problems and a pitch is one” segment. Great storytelling.
Tomorrow is all open lab time to work on the Money & Marketing Plan and your product mockup.