After a recent lively one-on-one conversation with Greater Public CEO Joyce MacDonald, Vice President and General Manager of Jacobs Media, Paul Jacobs, answered some additional questions from station colleagues across the system about corporate support efforts in the wake of challenges from the past year.
Q: Should I be selling digital packages via SOV (Share of Voice) or CPM (Cost Per Thousand) models?
Jacobs: In my experience, I always prefer SOV. (Do you see a pattern of my desire to stay away from ratings pricing?) Unless a digital package has a hefty number of impressions, it’s hard to generate a good rate and make it worthwhile. I prefer multi-channel digital packages that are long on concept and heft, and short on delivery pricing, whenever possible. Now, with agencies, that can be a challenge. CPMs work best for display ads, and less so for higher concept packages.
So to me, the best digital packages are those that are based on a concept that’s perceived as valuable by the client, not because of the numbers it delivers primarily, but the concept is in alignment with the brand’s values. And then the concept is supported with multi-pronged support, like email, website, push messaging, social media, etc., that features the sponsor. It’s the combination of the heft of support and the value of the concept that drives value.
In other words, I like fewer, bigger SOV-type packages than trying to sell a bunch of smaller ones based on CPM.