Many of the startups today make money out of online advertising. Why, we are no exception. Not only startups, behemoths like Google and Facebook too rely on online ads for their billions of dollars, and provide ads as a platform for others to use and make money. But here is one online startup whose source of revenue is offline advertising–actually that is the sole business of MyAdCorner.
MyAdCorner provides you a platform to advertise in various newspapers across India. The print advertising industry is highly fragmented, and booking an offline ad, if you have experienced it, is a tedious process. Getting a quotation from newspapers, following up with the ad content, negotiating prices, payment, everything is a hassle. Every publication you need to advertise on needs to be contacted individually. MyAdCorner provides a one-stop booking platform for SMEs and individual advertisers.
MyAdCorner has direct tie-ups with more than 100 newspapers in 175 cities across India, and act as an advertising agency where they get commission from every ad booking provided. Since they place ad orders in bulk, they are able to provide heavy discounts on the advertising fees.
Started in September 2010 by IIT Delhi graduates Prateek Srivastava and Rohit Garodia, MyAdCorner currently houses 50 employees in various fields including Engineering, Product, Analytics, Sales & Marketing. The Noida-based company behind the product called Adception Infotech Pvt Ltd was funded by Singapore-based CCube Angels earlier this year. Prateek adds:
We are adding more than 1000 advertisers (paying customers) on a monthly basis. We got funded from few individuals who really liked our business model and have invested in us. It includes people from Silicon Valley (USA) [sic], New York, Singapore & India. Most of them are serial entrepreneurs themselves.
Apart from letting you post ads to various publications across the country, MyAdCorner also helps you in ‘media planning and buying’. Based on your business and target audience, it helps you to decide your target audience, budget, cities to advertise, which newspapers to choose etc, and also help in designing your ad creatively for maximum impact and branding response. The compose-ad-page has different styling options and templates to help you draft and edit your ad in a WYSIWYG editor. There is also an Advertisement Tips section that acts like a form to discuss the process of creating and placing an ad.
With no one else providing such an exhaustive list of advertisements, the future looks bright, as Rohit believes:
We have served more than 66,000 ads – 4,167 advertisers – 100 newspapers – 175 cities. We are sitting at a potential goldmine as we see more than 1,000 new advertisers (paying customers) getting added on our website on a monthly basis. Not only this, our penetration into smaller towns is increasing. We are hoping that this platform will become the preferred destination for any SME advertiser in India. We are increasing our penetration into Tier-2 towns by making ground booking agents vis-a-vis affiliates.
A very interesting and intelligent concept, I must say, that creates yet another link between the online and the offline world, and fills in the inadequacies of the offline world rather than competing with offline services like ecommerce does.
If you want to advertise in certain newspapers about property, vehicles, matrimonials, jobs, or personal or company announcements, try MyAdCorner and let us know your experience.