I just gave away $5,000 in free advertising per month
This sounds crazy, right? But it's true. At the end of my work day today, I gave away $5,000 worth of free advertising per month. Here's why.
My primary site is a digital magazine in a very specific Business to Business tech niche, monetized through advertising. It's event season in my industry, and all events are canceled due to the pandemic. This has actually been great for business, as old, large companies finally shift away from face-to-face marketing and towards digital advertising.
So if social distancing is good for business, why am I giving my product away for free?
Last year, I created a mission statement (check it out: https://my.wealthyaffiliate.com/rkingsley/blog/whats-your-mi... ). This is designed not only to help me in running my business, but to keep me supporting the industry that pays me.
The top bullet point is "add value to my audience and the greater niche ecosystem." The second is "Add value to my clients and partners." So, when my clients and partners can no longer gain business through event based marketing, their business suffers. When my audience can no longer attend events to learn what they need to learn, the entire niche ecosystem suffers.
Paying it Forward
This industry has been kind to me. Today, it became clear that in Australia social distancing is here to stay. This will be devastating to business and the economy if we don't all do our part to minimize the impact.
My contribution has been to reach out to my clients and partners and offer free ad spaces to promote their digital events in lieu of face-to-face marketing. The more clients I can get them, the better our industry will hold up. The better the industry holds up, the longer I stay in business.
That's not to say I'm working entirely for free - I still have my existing contracts paying me!
The additional free ad spaces came out to just under $5,000 per month, until social distancing is finished with. I'm happy to put my money where my mouth is, and try to support the economy that supports me.
Cheers to you all! We're all in this together, let's leverage the digital economy and all help out to keep the world running.