Our initiative was to uncover new opportunities to increase print revenue.
Fairfax Media New Zealand audited frequency plans across its publications and found inconsistency across markets. Some markets had no frequency plan in place and existing plans had no consistent branding. Back-end systems and processes were also vastly different from plan to plan.
Frequency plans smooth revenue and guarantee cashflow throughout the year. They also help to reduce the need for distress space rates that affect yield.
We adopted an initiative to introduce AdPlan as the preferred frequency plan brand for Fairfax Media across the majority of New Zealand markets. Our goal was to arrest decline in print advertising revenue, while focusing on becoming a sustainable digital business. We set an ambitious goal of delivering NZ$2,000,000 of new revenue in year one.
Execution: The first markets we targeted were those that either lacked a frequency programme or had a weak brand or sales performance in their market. The latter were replaced with the AdPlan brand.
In markets that had strong frequency programmes and brands in place, existing brands were retained. To assist and grow their revenue base, AdPlan elements were introduced where appropriate.
The AdPlan brand was updated and a new look and feel was established. Processes, products, materials, and programmes were developed and streamlined to ensure ease of introduction from market to market. This included site management, rep analysis, target setting, and rep training.
The team leading this initiative successfully worked with local managers and teams at each site in the implementation and execution stages of each programme to ensure that the sales teams were supported and motivated to sell.
Since July 2014, AdPlan has been introduced across 11 titles or markets. The goal in those markets was to secure the existing advertisers already in the local programme and drive substantial new or “at risk/unsecured” business into mastheads in all markets.
Results: The results of the campaign have been phenomenal. Our goal was to generate NZ$2 million in new business in the first year, and within six months AdPlan had already achieved NZ$1.877 million of new revenue, as well as NZ$1,233 million of revenue converted from existing frequency programmes.
By the end of year one, the new revenue total was NZ$4,939,231 — nearly two and a half times the original target! We also earned another NZ$2,342,104 converted from other programmes, bringing the total to a whopping NZ$7,281,334 from the AdPlan initiative, far exceeding all expectations!