Because of the nature of branded content, account executives should consider all the possible revenue sources from advertisers and brands to make the sale. Here are some places to seek out additional client funding for a branded content campaign.
Sponsorship Dollars
When coronavirus came into the picture, countless events were canceled throughout the country. While that is unfortunate, it does leave money unspent. Brands can effectively use their sponsorship budget to fund a branded content campaign with you as a publisher.
We asked Jared Merves, CRO for Distributed Media Lab, how he would start this conversation with clients.
"I would highly recommend that you're out talking to your clients and your prospects and asking them, what are their sponsorship goals, how have they been impacted, if they're engaged and they're committed to sponsoring where they believe their audience will be since that physical event is canceled. A sponsorship with your media property could be a really great way for them to re-spread and reallocate those dollars and for you to gain revenue."
Cause Marketing Dollars
90% of consumers say that they want companies to tell them how they are supporting causes and making a difference. - Cone Communications CSR Study
Several brands have a cause marketing team or a dedicated group of employees who work on corporate philanthropy. No matter the market size, clients have budgets for the causes they’re committed to. Ask advertisers what causes or community endeavors they support and who makes decisions on cause marketing budgets. This can lead to a great strategic partnership between brand, nonprofit and publisher.
"This could be community programs like a shelter or it could be strategic partnerships with a large non-profit like habitat for humanity or meals on wheels," Merves explained.
PR Dollars
Often, public relations departments consider branded content to be in their budget since it is PR’s job to build brand reputation. Therefore, account executives should get in touch with the public relations arm of a brand when seeking out a sale.
Does this sound great but wondering how your company can get started?
The Branded Content Project has created products that may be a perfect fit for your advertisers looking for a solution for their sponsorship, cause marketing, and public relations budgets.
Your next step is to contact our team and we can help you build a plan!
Julia Campbell - julia@brandedcontentproject.com
Liz Hayes - liz@brandedcontentproject.com
The Branded Content Project is designed through a strategic partnership between the Local Media Association, the Local Media Consortium, and the Facebook Journalism Project to help facilitate additional growth, engagement, and revenue success for more publishers of all shapes and sizes.