May 25, 2020
First and foremost, businesses need to evaluate their online competitors and then identify unique strengths that your organisation has to get succeed in the market. Create a ground-breaking strategy based on the unique strengths and competitive market of the brand.
Have a look at the Strategies!
Builds traffic through sponsorship: Here, a partnership is developed between a media company and a leading online classified site. It creates traffic to increase the number of buyers and sellers on their exchange. There is a very less risk associated with this strategy. Companies opting this strategy have to compete with well-established online competitors.
Thus, the partnership provides the online competitors access to the traffic of the company’s website. Companies have to pay some amount of fee for the traffic and if the traffic reached a particular level, it is a bonus.
The partnership between Sales & Marketing and Online Classifieds: The sole purpose of this strategy is not just to generate traffic. The partnership is established on the capabilities of media houses. The sales and marketing capability helps in advertising the company’s partner. This strategy is somewhat like similar to the above strategy as it also faces tough online competition. Besides this, they also derive hefty sales and marketing skills.
Develop an online classified site of your own brand: The Company has the power to select its own technology to develop an independent online classified site. You can develop a technology or purchase it from a special online classified software company. Even so, the ability of the company is to select or develop and then maintaining its own classified software makes a remarkable new level of danger.
This method concludes that online competition is bounded. The company has distinctive strengths in technology, sales & marketing or some distinctive market awareness upshot in a successful online classified launch.
Create a personalized network for your Online Classified Site: Here, various traditional media organisations or a media holding organisations which possess various traditional media create their own network. The risk is higher in this strategy. The risk is both in the selection and maintenance of the technology platform. The risk developed by linking various distinctive media houses having different strengths and goals for the online classified website.
Choosing this strategy reveals a quick change in the market where media companies have a huge stake in the traditional classified market. They possess a powerful traditional classified brand, a powerful sale and marketing team and a credible technology. Merging these strengths result in building the required scale to compete with larger brands.
Conclusion: All strategies include several ways to apprehend potential online classifieds options. However, every media houses have to personalize and modify the strategy to their distinctive strengths and market situations. The time competition shifts in the market and new strengths starts to establish; one must review and evolve the continuous classified strategy to remain in front of the market.
Previously, Classified ads were considered as the oldest form of advertising product or services. However, the dynamics are changed with the change in technology. Every business has a different vision for the classified sites. It could be through PC, mobiles, bulletin board or in print. The only goal of classified advertising is to take people together to create value and accomplish the mission which is quite similar to the goal of the media houses.