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BizReport : Advertising : April 06, 2009
WeddingMapper.com debuts auction based ad platform
Despite the down economy there is one spending category that likely won't take a tremendous hit in the coming year: weddings. Why? Because women plan for their big day for years and simply aren't willing to skimp. To that end online wedding planning site WeddingMapper.com has launched an auction based advertising platform which could help wedding-based businesses stay afloat.
The platform works like this: a business bids for low cost advertising space on local websites to reach wedding-minded couples. There are about 10,000 local websites in the WeddingMapper network; the business then sets a budget for the campaign and then places bids against other local vendors in similar markets. The top three bidders in each market are given premium ad space.
How is this better than an existing model? Because of the 'similar market' strategy. In many wedding based services prices are based on similar regions rather than cities. As all marketers know there are very few regions with similar income and spending ratios so basing this on comparable cities makes more sense and can help marketers hold down their budgets.
Although many wedding businesses - such as florists and caterers - will want to remain ultra local, other wedding businesses - such as stationers or gown retailers - can afford to spread their advertising wings a bit more for the possibility of engaging more consumers.
Tags: online advertising, online marketing, online shopping, wedding planning, weddings
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They seem well positioned to make a dent in some pretty large pocketbooks from major players in the wedding industry like TheKnot. They're definitely a company I'll keep an eye on...