16 May How Much does TheKnot.com Take from You?
Local advertising is The Holy Grail for online players, from Facebook and Google to small local operators in your community. It’s also the turf you own.
Yesterday readers of this blog met Wendy Benton, a single mother of four and formidable local competitor in Fayetteville, N.C. Today you meet a national online competitor that wants to fly under the radar and eat your lunch.
But first, a question: Did your 2012 ad revenue grow by at least 15 percent?
The national bridal portal, TheKnot.com, took in $50 million in local online advertising revenue in 2012, up 15 percent from 2011. In fact, local ad revenue was the company’s largest revenue segment, among its most profitable and fastest growing, according to the company’s annual report.
TheKnot.com sells more than 22,500 local vendors on its site. The average sale per vendor is $2,400. This is, without question, revenue you used to own or at least should have owned.
Take Oklahoma City as an example. At last count, 86 Oklahoma City-area vendors paid to appear on TheKnot.com. At the average of $2,400 per vendor, that’s $206,400 that TheKnot.com takes out of OKC and away from local media outlets there! You can check this out for yourself here.
Big and small, competitors are using online to take our turf away. Isn’t time we fought back?
Curious to know how much TheKnot.com takes from you? Email me and I’ll send you the numbers.