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.
Background
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?
Mission Statement
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.
Recent Comments
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Hey Jesse!!
Great to hear you are coping with all this... its those that can adapt the quickest that manage to weather the storm and future proof business when all this is over. I think you have ticked that box ! Always been impressed with your ability to see the issues your audience has and develop and adapt to meet their needs.
Hope you are staying well and safe.😁
Thanks Helen!
I'm doing great - all the stuff I enjoy doing is at home anyway haha!
I'm guessing tennis is all on hold. Must be a mixed blessing
Yes tennis is on hold, although he has his own tennis centre in the garden so has to make do with that. He's got me to feed balls, I don't think it could become my second job .... Im rubbish at it! So we have been in lockdown for 2 weeks now, the PM is in ICU. Its not good, but we are healthy and have to wait it out.
Hi Jesse,
That is brilliant. It will work out both for the client and yourself. What a fabulous freebie your clients will have.
That is an awesome idea.
Haha, shame you are not in London Lol.
Keep us in the loop how you go with this fantastic freebie.
Yes, we are all in this together not sure I could offer a freebie like that though. It is amazing and so are you :)
Take care and stay safe.
Debs :)
Thank you!
You don't have to offer freebies to help out, you could simply give people assistance or advice in going digital, set up a delivery support network, community outreach program... all kinds of things that you can offer as part of your online life - as long as you also look after yourself at the same time.
So true.
I think the only help I am giving right now is for oldies that cannot get out and young Mums. Etc.
I do like to keep small business owners informed in the UK that Gov has now set up help for those with small Bricks and Mortar Businesses.
Thank you for the extra tips :)
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A wonderful idea and gesture, Jesse!
Stay safe!
Jeff
Thank you Jeff!
There is an element of self-interest to it though; The longer we can keep my industry afloat, the longer my clients keep making sales, the better my business weathers the crisis
I can certainly understand that, my friend! Hope it works out alright!
Jeff