For 40 years and running, local marketing powerhouse Diamond Studios has looked for better ways for small businesses to get results from their advertising. Now, they are on the cusp of a breakthrough that looks to change the advertising landscape.
That breakthrough has come in the form of a mobile app Diamond Studios calls MyCity SmartCard.
A business trades its goods or services for advertising with a media outlet: a radio station, a newspaper, magazine, or a TV station. The media outlet then uses the SmartCard app to recoup their advertising revenue from that business.
With the SmartCard app, the media outlet offers these goods and services at a discount to its audience. The catch? Only through the SmartCard app can audience members get the discounted products and services.
To use their SmartCard, consumers link the SmartCard app to an existing credit or debit card to fund their purchases. That's it. When the media outlet offers a great deal on an item or service the consumer wants, he or she can snap it right up.
The end user—the customer—wins because he or she gets a full-valued product or service at a generous discount.
The business wins because it gets full-value advertising on local media for only the price of the hard costs they spend to produce or sell the item. Plus, for the first time ever, they get guaranteed traffic from customers. The only time it costs a business is when a customer responds.
And, of course, the media outlet wins because instead of advertising through social media or online search ads, businesses will advertise with them instead.
It benefits both buyers and sellers. It provides information to consumers about new products available and the advantages of buying and using the advertised goods or services. It's also a low-cost way for consumers to get information; they only need to see the information when they’re exposed to it.
Consumers often become aware of a product through advertising, he says, and since the introduction of a new product can lead to lower prices of similar products, consumers all around benefit from advertising.
But, again, which ads will the consumers of the future benefit from? How can traditional media even compete with the monolith that social media and search advertising has become?
Finally, traditional media companies have something to put them on an even playing field with the online advertising boom, with MyCity SmartCard's appeal to today's mobile generation, traditional advertising can once again claim its position as the kingpin of the marketing world.
The Advertising business can pose some tough challenges today. While media outlets generate revenue by selling ads to merchants, it's becoming more difficult to get merchants to commit to buying ongoing monthly ads.
It's time for a smart, simple solution. It’s time for Smartcard! Smartcard is a “Pay As You Go Advertising” solution where there is no advertising cost to the merchant until the customer makes a purchase.
Smartcard is not a new product to sell, but rather a valuable technology that can be used to help monetize all your existing advertising products.
Think about how many new merchants you could get, and those you could re-connect with, if you could tell them:
That's a guarantee that no one in the advertising world has ever made!
With as few as 500 active smartcard app users, you could easily generate $30,000 in new revenues.
You win because you sell more advertising and gain new and former merchants to advertise. Merchants win because they get guaranteed traffic from their advertising money. Your audience wins because they get a full valued product or service at a discount.
When you were getting merchants, how did you incentivize your sales force and how are you commissioning them since it was a few months after the trade commitment that money started flowing into the company?
When did the advertising trade start for the merchant, after the contract commitment, or after the app went live?
What was the average merchant commitment?
What were the biggest obstacles getting merchants and how did you overcome them?