ONLINE AUCTIONS AS ADVERTISING REVENUE IN THE MEDIA MIX
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ONLINE AUCTIONS AS ADVERTISING REVENUE IN THE MEDIA MIX
Ginger Rosenkrans
Abstract: Online auctions hosted by newspapers to enhance the media mix are relatively new compared to other models of online
advertising. This study examined the Ventura County Star newspaper's open-cry, "going-going-gone" deadline, 12-day local
online auctions for seven months. During these same months, the Ventura County Star deployed online banner ads. This
research study investigated the effectiveness of the Ventura County Star newspaper's local online auction format by the
advertising revenue generated from local auctions for seven months compared to concurrent revenue generated from online
banner ads during the same time frame. In addition, it examined local online auctions' page impressions to investigate how much
traffic was increased to the site. Based on the metrics provided by Netgravity software, findings demonstrated that local online
auctions' revenue surpassed banner ad revenue and traffic was increased to the site.
The Internet has evolved into an essential medium for advertising spending. Technological innovations have also
businesses and advertisers since some of the first online ads made the Internet an attractive medium for advertisers
began to appear on Web sites in 1994 (Adams 1995; Hyland (Jupiter Communications 2000; Shen 2002).
1998; Reed 1999). Online advertising revenue totaled $2.3
As an advertising medium, the Internet offers the elements of
billion in the first quarter of 2004, which was the highest
other media and much more. Banner ads can include not only
quarterly total on record since PricewaterhouseCoopers and
graphics and texts, but also streaming video and audio (Shen
the Internet Advertising Bureau began tracking revenues in
2002). Rich media technologies, such as Flash, Shockwave, and
1996 (Internet Advertising Bureau 2004).
Java, can be used to deliver dynamic and interactive banner
According to Jupiter Research, online advertising spending ads. Such interactive and personalization technologies have
will climb to $19 billion per year by 2010; a 41% increase made the Internet an effective and accountable medium with
(Mucha 2005). Online advertising is increasingly becoming a unlimited creativity.
part of the media mix for many companies. Advertisers across
Banner ads are still the dominant type of Internet advertising
all media posted surges in their online advertising presence
(Internet Retailer 2002; Li, Daugherty, and Biocca 2002). The
since 2002, and a slate of media companies reported large
most popular ad format deployed on Web sites during April
growth in advertising revenue during 2003 (Booker 2004;
2003 was the full banner ad format (i.e., 468x60), capturing
Martin and Ryan 2003). Internet advertising revenue reached
33% of all ad formats (Nielsen Netratings 2003). Banner ad
$7.3 billion in 2003 (Booker 2004; Internet Advertising Bureau
impressions increased 39% to 32.9 billion in January 2002
2003). In a research study conducted by Millward Brown, 56%
from 23.6 billion in April 2001 (Internet Retailer 2002). In
of 300 senior-level marketing executives said their marketing
addition to banner ads, deploying online auctions is an area of
and media budgets increased in 2004, and 60% of them
Internet advertising that has increased in interest. According
expected further increases in 2005 (Emarketer 2004).
to Forrester Research, online auctions will grow to $54.3
The number of online users and technological innovations are billion in 2007 (Johnson, Delhagen, and Dash 2002). In a
fueling the growth of Internet advertising spending (Shen Nielsen Netratings and Harris Interactive Report, 6.2 million
2002). About 62% of Americans go online to access the Web online purchases were made at auction sites in 2001, up from
or send and receive e-mail; up from 54% in 2000 (Pew 5.1 million purchases in May 2000 (Business Wire 2001).
Research 2002). Jupiter forecasts that the online population Nielsen Netratings reports that auctions are the third largest e-
will swell to 194 million users by the end of 2005, which is an commerce category in the number of purchases trailing books
increase from 104 million users in 1999 (Jupiter and apparel (Business Wire 2001).
Communications 2000). This represents a North American
Online auctions are emerging as a recognized type of Internet
online presence of 68% in 2005, which is an increase from 38%
advertising that has the potential to increase revenue for
in 1998. With 68% of the North American population online
newspapers' online presence (Goodman 2003). The newspaper
in 2005 (Internet World Stats 2005), the Internet is an
industry has gained momentum in its online sector. For
attractive medium for advertisers who want to diversify their
Journal of Interactive Advertising, Vol 6 No 1 (Fall 2005), pp. 14‐28.
© 2010 American Academy of Advertising, All rights reserved
ISSN 1525‐2019
15 Journal of Interactive Advertising Fall 2005
example, advertising revenues for the second quarter of 2003 Research questions regarding one newspaper's strategy for
at the New York Time's online edition, New York Times using online auctions are proposed. This study was designed
Digital (NYTD), were $21.6 million (Morrissey 2003). This to address the following research questions:
was a 22% increase compared to the same quarter in 2002.
RQ1: Does Ventura County Star's local online auction
Knight Ridder, which publishes 31 newspapers, reported
format increase advertising revenue?
revenues of $19.3 million--a 36% increase in the second
quarter. Similarly, Tribune Co., which owns the Los Angeles RQ2: Does Ventura County Star's local online auction
Times and the Chicago Tribune, stated its online revenues format bring in more advertising revenue than banner
were up 15%. Moreover, local newspaper chains are showing advertising revenue during the same time period?
growth in online revenues (Morrissey 2003; Zollman 2003).
RQ3: Do the Ventura County Star's online auctions
generate traffic to its Web site?
According to Hays Goodman (2003), associate editor of The
International Journal of Newspaper and Technology, REVIEW OF LITERATURE
newspapers that host local online auctions provide another Overview of Auctions and Online Auction Activity
sales channel and an opportunity to increase advertising
revenue. Newspapers that host local online auctions as a Most business transactions are conducted through a posted
method to generate revenue, however, are at their infancy. price, a negotiation process, or an auction (Pinker, Seidmann,
That is, until February 6, 2002, when CityXpress, a developer and Vakrat 2001). Traditionally, auctions have been
of revenue-generating solutions for media companies, commonly applied to sell unique and unusual items, such as
introduced an auction program designed to support print and art or celebrities' property (Wang 2002). With the Internet,
online auctions by newspapers for local retailers (Canada auctions have entered the online medium to sell commodities
News Wire 2003). Its program was one of the first online ranging from low-price CDs to expensive real estate. Some of
auction models employed to generate new advertising revenue the earliest online auctions began in 1995 with Onsale and
for newspapers. eBay launching their online auction sites (Pinker, Seidmann,
and Vakrat 2001). Presently, there are hundreds of Web sites
Online auctions have not been studied to the extent that other dedicated to online auctions. In addition, the Pew Internet and
areas of the Internet have been investigated (Becherer and American Life Project reported that 22% of Internet users have
Halstead 2004; Gilkeson and Reynolds 2003). Popular media participated in online auctions as of December 2002 (Madden
provide most online auction information, and little empirical 2003). This reflected an 85% growth from 13 million users
research appears in academic literature (Becherer and who participated in online auctions as of March 2000, to 24
Halstead 2004). Although online auctions represent one of million users who participated in online auctions as of
many online advertising models, it is a growing sector that December 2002.
warrants further research (Becherer and Halstead 2004; Wang
2002). Strategies used by online sellers of different sizes (e.g., Compared to face-to-face selling and negotiating methods,
large and small retail companies) and in various industries online auctions are efficient (Wang 2002). The philosophy
should be examined. The newspaper industry has only begun behind auctions is to allow the consumers to determine the
using online auctions as part of the media mix (Canada News true value for the product. Bidders believe that they can
Wire 2003). In an effort to examine online auctions used by accurately evaluate the items they bid on and auctioneers
newspapers, this research investigated the effectiveness of the believe they can receive the highest winning bids for the items
Ventura County Star newspaper's online arm deploying local they sell. Additionally, online auctions are valuable for selling
online auctions as part of its media mix to enhance advertising merchandise based on effective pricing methods (Klein and
revenue. This research investigated the effectiveness of the O'Keefe 1999). According to a report from Forrester Research,
Ventura County Star newspaper's local online auction format it is expected that more than 80% of global trade will be
by the advertising revenue generated from local auctions for conducted online and auctions will account for 25% of all
seven months compared to concurrent revenue generated online sales (Tung, Gopal, and Whinston 2003). The online
from online banner ads during the same time frame. This auction is a relatively new business model and phenomenon
research investigated the effectiveness of online auctions as for the Internet and researchers are still searching for new
part of the media mix for newspapers.
16 Journal of Interactive Advertising Fall 2005
strategies that can facilitate online auctions (Pinker, with the smallest winning bid is replaced by the new bid. If
Seidmann, and Vakrat 2001; Shneiderman 2000; Wang 2002). many offers are equal and at the minimum winning bid level, a
time priority is applied to determine the bid to be displaced
Auction Types
when a new and higher offer is received. The last bid at the
Online auctions are characterized in two ways: third party minimum winning bid level is the first to leave the auction
auction sellers (e.g., Amazon.com, eBay) that auction products winner's list. This process continues until the auction closes.
and services for others, and direct auction sellers that deploy The auction terminates after or on the pre-announced closing
their own online auctions through their corporate Web site time. The winning bidders pay the amount they last bid to win
(Becherer and Halstead 2004). Most online auctions are a the auction. Some of the central factors that auctioneers can
blend of many categories or types. Beam and Segev (1998) control in Yankee auctions are the bid increment, the auction
analyzed 100 Business-to-Consumer (B2C) and Consumer-to- duration, and the lot size.
Consumer (C2C) online auctions using different search
The bid increment is a significant factor in explaining
engines, while Lucking-Reiley (2000) analyzed 142 B2C and
variations of auction revenue. For example, at the final stage of
C2C auctions selected in a similar way. Both studies
the auction, usually two bidding levels are apparent (Bapna et
discovered that the formats or classifications of online
al. 2002). Either all bids, at a minimum, would be at the lower
auctions are limited and traditional.
level or all bidders are at the higher level. The difference
There are four basic online auctions: Open-Cry (English), between the two bid levels is equal to the bid increment. From
Dutch, Sealed-Bid First Price, and Vickrey (second price) an auctioneer's perspective the greater number of bidders at
(Beam and Segev 1998; Becherer and Halstead 2004; Lucking- the higher bid level, the greater the revenue.
Reiley 2000; Wang 2002). In open-cry auctions, bidding starts
Auction Intermediaries
with an open price and proceeds to higher bids until no bidder
is willing to increase the bid. This format is advantageous to An auction intermediary or host performs many functions.
sellers because products and services can be unloaded for the They communicate supply and demand orders, transform
highest possible price point. Dutch auctions are descending- orders into transactions, and provide liquidity for the market
price auctions. Bidding begins at a high price and is (Pinker, Seidmann, and Vakrat 2001). Additionally,
progressively lowered until a buyer takes the offer. This intermediaries provide the infrastructure to conduct the
auction format is useful for determining the prices bidders auction online and they serve as a trusted third party that will
would be willing to pay for a product or service. The Sealed- not manipulate the auctions to anyone's advantage. For
Bid First Price is an auction where a bid is sealed and hidden example, CityXpress sets up local newspapers to serve as a
from other bidders. The highest bidder wins the bid and pays host/intermediary auction site for local suppliers and bidders
the exact amount of the final bid. In Vickrey auctions, the (Zollman 2003). By choosing a local newspaper's online arm
winner pays the price equal to the second highest bid, or the with an online auction component, suppliers are using a
highest unsuccessful bid. Generally, the Open-Cry (English) trusted, credible source and are directly marketing to its local
auction is the dominant type of online auction. consumers. A local newspaper's online site that serves as an
auction intermediary opens its site to others, which increases
An emerging B2C distribution channel is known as a Yankee
revenue by collecting fees from sellers and increasing the
auction, which has its roots in the English auction (Bapna et al.
liquidity of the market for its own auction.
2002). This type of auction sells multiple identical units of a
good to multiple bidders using an ascending and open auction eBay is one example of an auction intermediary that has
mechanism. The auction is progressive; however, each new bid substantial revenue. During the fourth quarter of 2002, eBay
does not have to be greater than the previous bid because there generated $47.6 million (Goldsborough 2002). It has two fees
are multiple units available. The set of winning bids consists of that it charges sellers: (1) an insertion fee and (2) a final value
the top N bids, where N is the number of units up for auction. fee (Elab 2000). The basic insertion fee runs $0.25 to $2.00 and
Either the new bid has to be equal to the minimum bid among depends on the value of the product. Additionally, an insertion
the winning bids or it has to be equal to the minimum winning can be bold faced for $2.00, run in a category-featured auction
bid plus a pre-specified minimum bid increment. When for $9.95, or run in a featured auction for $49.95. The final
consumers have bid for the entire lot size, a new bid will have value fee is a commission on the final price of the item
to be greater than the smallest winning bid. Then, the winner auctioned. It includes 5% of the amount at the close of the17 Journal of Interactive Advertising Fall 2005
auction up to $25, 2.5% of the bid at auction close from $25.01 auction with hopes of attracting enough bidders to generate a
to $1,000, and 1.25% of the balance of current high bids high selling price. If the auction is too short and few bidders
greater than $1,000.01. If there are no bids, then the seller is participate, then the final price is likely to be lower than if
not charged a final value fee. ebay's advertising strategy more bidders had participated. In a research on coin auctions
includes banner ads at portals and alliances with other Web on eBay, it was found that longer auctions led to higher prices
sites to increase its brand equity. (Lucking-Reiley et al. 1999). Conversely, long auctions can
also reduce the value of the product and reduce the seller's
Auctions as a Marketing Tool
revenue (Lucking-Reiley et al. 1999). The buyer also can be
There are many benefits of using online auctions to sell affected by costs associated with the length of the auction
products or services. For example, a company can use an (Pinker, Seidmann, and Vakrat 2001). Usually, a buyer/bidder
online auction as a marketing tool (Pinker, Seidmann, and chooses to participate in an online auction because it is the
Vakrat 2001). An auction can generate traffic to the company's only venue in which the product can be found or because the
main Web site as well as build brand recognition. A site's product is cheaper than purchasing it through a conventional
traffic is measured using impressions, which are an estimate of venue. When bidders select an auction in order to save money,
how many pages are served in a specific time period (Bhat, they are trading the extra effort and cost involved in
Bevans, and Sengupta 2002). They are a good indicator of a participating in the auction, the risk of fraud, and a possible
Web page's exposure. Online auctions that sell hard-to-get delay in receiving the product or service against the benefit of
items like the latest technology gadget or an exotic vacation saving money. The longer the duration of the auction, the
travel package can be used to attract traffic to a site (Pinker, greater the delay the bidders face and the probability they will
Seidmann, and Vakrat 2001). be outbid. A deadline influences the bidding process. Two
As online auctions become more prevalent, a differentiation approaches are used in handling the deadline in online
strategy is important. Brand equity, which is how people feel auctions: (1) a rigid deadline or (2) a "going-going-gone"
and think about a brand relative to its competition over time, deadline. A rigid deadline enforced by the sponsoring party
can be created through online auctions by executing a clear does not accept bids beyond the deadline. eBay, which is a
brand positioning strategy while building strong brand C2C auction and acts only as an intermediary, enforces a rigid
customer relationships. For bidders, online auctions represent deadline (Elab 2000; Pinker, Seidmann, and Vakrat 2001). A
interactivity that often allows them more control over price rigid deadline increases the phenomenon in which buyers
and an increased level of learning about a product category, a place bids in the final minutes or seconds of an auction so
company's products, or services (Becherer and Halstead 2004). other bidders will have no time to out bid them. A "going-
going-gone" approach allows the auction to continue past the
Revenue Generated from Online Auction Duration original deadline as long as there has been recent (i.e., within
Online auctions tend to last longer than face-to-face auctions 5-10 minutes) bidding activity.
(Pinker, Seidmann, and Vakrat 2001). Internet auctions can Newspapers and Online Auctions
last days or weeks. Bidders are not required to be present and
can bid from almost anywhere; therefore, it is practical to Online sellers who have deployed Internet auctions are diverse
conduct online auctions over longer periods of time. The in product categories, objectives, and strategies. Some of the
duration of an online auction, however, determines the reasons companies have deployed online auctions are: (1) to
number of bidders, which ultimately affect the financial test prices to see what the market will accept, (2) to keep
outcome. customer acquisition costs low, (3) to sell quality products at
an appealing price, (4) to sell overstocked products, (5) to
One of the reasons companies launch their own online generate traffic to a company's main Web site, (6) to acquire
auctions is to increase sales and revenue (Becherer and new customers, and (7) to generate excitement about the
Halstead 2004). The potential for the online auction host site's company's online site by involving customers in a more
revenue is substantial. Traditional auctions begin with a fixed interactive environment (Becherer and Halstead 2004; Pinker,
number of bidders and once the auction starts, new bidders Seidmann, and Vakrat 2001). Becherer and Halstead (2004), in
cannot join (Pinker, Seidmann, and Vakrat 2001). Internet an exploratory study on the characteristics of online auction
auctions, however, begin with an announcement describing sellers and their online advertising strategies, recommend
the rules, the product, and the duration/end time of the18 Journal of Interactive Advertising Fall 2005
further examination of the strategies of sellers in various reserve price or minimum price for the item. Then, readers bid
industries and various sizes of industries. on each item through a Web browser or telephone call. The
highest bidder who exceeds the reserve price wins the item.
Jade Cusick, Vice President of NFO Ad Impact, examined
The advertiser then receives an advertising credit equal to the
online newspapers and online advertising (Phipps 2000).
retail value of the item if it is sold. Retailers benefit from
According to Cusick, local online newspapers have at least
increased online traffic and the opportunity to move a
three factors that make their sites attractive to other industries:
different mix of services and goods. Most of the advertising for
(1) brand--almost everyone knows the newspaper, (2) local
online local auctions is done through print, online banner ads,
business connections--an established sales force with
and radio.
connections to local advertisers, and (3) community
connections--makes forming strategic partnerships easy Although local online auctions are relatively new (i.e., began in
(Phipps 2000). June 2002) compared to other models of online advertising
(i.e., began in 1994), they are garnering increased advertising
A company can sell its products or services through an auction
revenues as well as attracting, retaining, and reactivating
intermediary, building brand equity and revenue for the
advertisers for newspapers (Martineau 2004). Newspapers can
company. Local newspapers and their Web sites can serve as
generate between $4 and $9 per paid daily newspaper
intermediaries as well as appeal to readers and advertisers
subscriber. For example, a newspaper with 20,000 paid
because they can offer unique expertise in the immediate
subscriptions can derive about $80,000 worth of revenue from
community (Goodman 2003). By providing local content,
an auction. The Hamilton Spectator, a newspaper with a
local newspapers can differentiate their own product from
circulation of 110,000, generated $2.6 million in revenue from
those of competitors. Additionally, a local newspaper's Web
its local online auction in 2003. The Grand Forks Herald in
site can serve existing readers, appeal to former residents,
North Dakota held an online auction for one week in the
attract new online readers from outside their circulation area,
summer of 2002 and earned $95,000 in ad revenue (Robins
and appeal to advertisers.
2002; Scripps 2003). According to Tom Kuchera, advertising
Determining the return on online advertising investment is director for Grand Forks Herald in North Dakota, the $95,000
one of advertisers' biggest challenges (Arnold 2003), due in in revenue was significant for a paper that generates $12
part to the problem of quantifying the effectiveness of a million in advertising revenue annually. In a 2003 Denver
function that is so inherently qualitative. Online advertising's News Agency two-week local online auction hosted by
proponents tout online advertising as the most accountable of CityXpress, advertising revenue was $580,000 with a net profit
all media, noting that it provides a wealth of data not available of $138,000-a 23.7% margin (Denver Newspaper Agency
with offline elements of the marketing mix, from impressions 2003). In addition, 215,000 visitors placed 9,700 bids.
(i.e., page views) to click-throughs and downloads. These Furthermore, the auction attracted 48 new advertisers, which
metrics are measurable and the means to measure was a 23% increase in new advertising clients.
impressions, response rates, click-through rates, and responses
In addition to the Denver News Agency, the Hamilton
to promotional offers have become sophisticated.
Spectator, and the Grand Forks Herald acquiring increased
New merchandise auctions that combine online bidding with advertising revenue, the Orange County Register newspaper,
print promotion and advertising are generating newspaper with a daily circulation of 307,000, held its first online local
revenue (Robins 2002). CityXpress of Vancouver, British auction with CityXpress in 2003 (Scripps 2003). The
Columbia, provides a platform for media companies, such as promotion included ads in the paper, community weekly
newspapers, to generate advertising revenue by using their papers, rack cards, direct mail pieces, and banner ads on
existing local sales force to sell joint print and online packages. myOC.com and OCRegister.com. A total of 750 items were
CityXpress provides a service that manages all aspects of an offered at the advertisers' minimum acceptable prices, and
online auction. The company helps newspapers conduct more than 1,800 services and goods were offered at a value of
online auctions through the use of its in-house hosted software $2.2 million. The newspaper netted $105,000 in one week. The
and online sales assistance. The financial model involves results of these auctions reflect the potential for online
advertisers providing goods and services in exchange for newspapers to increase their Return on Investment (ROI).
newspaper space (Goodman 2003). The retail value for each
item is set, with the newspaper having the right to determine a19 Journal of Interactive Advertising Fall 2005
Online Advertising Effectiveness degree of the effectiveness of ads is influenced by the medium
in which it is placed (Bendixen 1993).
According to industry experts, it is difficult to produce a
universally acceptable definition of effective advertising (Rice The online medium offers researchers the opportunity to
and Bennett 1998) even though there is a large body of perform tasks such as evaluating tactics and promotional
literature on measuring advertising effectiveness (Kuen-Lee, strategies (Forrest 1999). There is a panoply of ways to
Stout, and Leckenby 1990; Stewart and McGann 1992). The measure online advertising effectiveness. Software can provide
core of advertising effectiveness is discovering how it response rate metrics such as page impressions, ad
influences consumers in making a choice of one brand or impressions, clicks, and conversions (Anfuso 2005; Dainow
product over another (Sheth 1974). 2004; Roche 2005). Advertisers have an advantage in
advertising online over traditional methods because of the
Some experts believe that the development of the Positioning
tracking possibilities. Metrics can be used for evaluating
Advertising Copy Testing (PACT) established a good
exposure, popularity, stickiness, user loyalty, reach, and
foundation for effective copy testing (PACT Agencies 1982).
behavioral responses (Anfuso 2005; Bhat, Bevans, and
According to PACT principles, a good copy testing system: (1)
Sengupta 2002; Dainow 2004; Maity and Peters 2005; Roche
provides measurements that are relevant to the objectives of
2005).
the advertising; (2) requires agreement about how the results
will be used in advance of each specific test; (3) provides One of the best measures of advertising responses on the Web
multiple measurements; (4) is based on a model of human is the click-through rate because the rate represents a
response to communication; (5) allows for consideration of behavioral response and conversion (Anfuso 2005; Briggs
whether the advertising stimulus should be exposed more than 1997; Lawrence 2000). The conversion rate is the percentage of
once; (6) recognizes that the more finished a piece of copy is, users who follow through on an action and occurs when an
the more soundly it can be evaluated; (7) provides controls to Internet user follows through on an action within a site, such
avoid the biasing effects of the exposure context; (8) takes into as clicking on an ad, requesting to opt-in for a newsletter, or
account basic considerations of sample definition; and (9) completing a credit card payment process (Carrabis 2005;
demonstrates reliability and validity. Dainow 2004). Banner ads are usually charged on cost per
thousand (CPM) impressions or click-throughs. Impressions,
Many theories exist about the effectiveness of traditional
which are also known as page views (i.e., how many times a
advertising. Several share the common assumption that
Web page is viewed), measure an ad's reach to an audience in
advertising works by changing consumers' attitudes toward
terms of visibility of the ad on a Web page (Bhat, Bevans, and
brands (Miller and Berry 1998; Vakratsas and Ambler 1999).
Sengupta 2002). They are an estimate of how many pages are
The AIDA (Attention, Interest, Desire, Action) model states
served in a specific time period and are a good indicator of a
that brand awareness is required before interest in a brand
Web page's exposure. Click-throughs measure the number of
(Miller and Berry 1998). Stewart and Furse (1986) found in
clicks divided by the number of ads requested or clicked on by
their study of 1,000 commercials that feelings-based
users during a time period.
advertisements are associated with greater brand recall than
are fact-based ads. They state, "The single most important Banner Ads
advertising executional factor related to persuasiveness of a
Banner ads are one of the most prevalent online ad models
commercial is the presence of a brand-differentiating message"
(Hoffman and Novak 2000; Mangani 2004). There are two
(Stewart and Furse 1986, p. 119). Rossiter and Percy (1987)
types of banner ads: run-of-site and targeted (Mangani 2004).
purport that their model demonstrates that the cognitive
Run-of-site banner ads are randomly placed anywhere within
dimension uses the concept of perceived risk or involvement
a Web site and they are usually used for products and services
attached to the purchase of the brand. Their model was based
that have universal appeal. Examples include discount
on an interaction of brand awareness seen as recognition
telephone rates and travel services. Targeted banner ads are
opposed to recall based and brand attitude shown in the
displayed when searches arc carried out for predefined
traditional cognitive and affective components of attitude. In
subjects. For example, if a user looks up Marriot Hotels the
addition, research has shown that creative elements and
user is likely to see a banner ad displayed by a hotel.
content of ads determine whether it will be effective and the20 Journal of Interactive Advertising Fall 2005
Banner ads generally appear in different sizes, with 90% of AdRelevance revealed that large banner ads placed on an
them ranging from 120-500 pixels wide and 45-120 pixels uncluttered site make a startling impact (AdRelevance 2000).
high. The median is 460 pixels wide and 60 pixels high. Online ad placement closely mimics print; thus, many online
Advertising banners, which are small rectangular images with ad sites are tackling banner blindness by enlarging the banners
clickable graphics and text, appear on sponsored content sites, deployed. For example, ZDNet's Skyscraper runs 120x800 and
sponsored directories, and entry portal sites. Many ad IGN.com's Avalanche runs 120x800. These large banner ads
networks charge advertisers based on the number of banner ad are in need of a rate standard. For example, most standard-
click-throughs or CPM impressions (Menn 2000). sized banners cost advertisers $30.52 for 1,000 online
impressions ($30.52 CPM).
Designing banners for interactive advertising could potentially
meet any of three basic advertising goals: cognition, affect, or Online advertising space is sold both through the traditional
behavior (Hofacker 1999). Advertising banners could be pay-per-view model (PPV), which involves the advertiser
designed to facilitate awareness of the product or service even paying a unit price (CPM-Cost Per Thousand) for banner
if consumers do not click on it. Additionally, banner ads could impressions, and through the pay-per-click model (PPC) or
focus on emotions, which could draw consumers to the ad's cost-per-click model (CPC), where the advertiser sustains a
site (Singh and Dalal 1999). Most banner ads are designed to cost-per-action (CPA) when the consumer sees the banner
get consumers to click-through, and the real ad campaign is and clicks on it. In addition, there are pricing models that are
launched when they arrive at the site (Hofacker 1999). The hybrids of these two (Mangani 2004).
banner ad is one link on a three-link chain. The first link is the
Methods, Sample, and Procedure
page that hosts the banner. The second link is the execution of
the banner, and the third link is when the visitor clicks on the Online auctions represent one of many online advertising
banner and is swept away to the ad's site. models and it is a growing area that warrants further research
(Becherer and Halstead 2004; Wang 2002). Further, the
In addition to employing banner ads with interactivity to hook
strategies used by online sellers of different sizes (e.g., large
users' attention, Li and Bukovac (1999) studied the
and small retail companies) and in various industries need to
effectiveness of banner ad size and type on viewer cognition.
be examined (Becherer and Halstead 2004). In an effort to
How viewers attend to ads is affected by three factors:
examine online auction strategies used by newspapers, this
stimulus, individual, and situational. Their study focused on
research investigated the effectiveness of the Ventura County
the stimulus factor, which included the following categories:
Star newspaper (about 94,000 daily circulation) deploying
message distinctiveness, image size, and user mode. Li and
local online auctions as part of its media mix to enhance
Bukovac (1999) found that the distinctiveness of a banner ad
advertising revenue. The overall purpose of this research was
could attract viewers' initial attention away from the rest of the
to investigate the effectiveness of the Ventura County Star
Web page content. The study also showed that large banner
newspaper's local online auction format by the advertising
ads attract viewer's attention. Another finding suggested that
revenue generated from local auctions for seven months
banner ad size and user mode interacted to affect the click-
compared to concurrent revenue generated from online
through rate. Large banner ads had a higher click-through rate
banner ads during the same time frame. It also examined
for Web surfers than information seekers, which highlights the
whether the local online auctions increased Web site traffic by
importance of user mode on effectiveness of banner ads.
examining the local online auctions' page impressions. Page
Additionally, the study's results indicate the animated banner
impressions are an estimate of how many pages are served in a
ad impact on recall is consistent with research on message
certain time period and are a good indicator of a site's
distinctiveness; however, the study did not measure separate
exposure (Bhat, Bevans, and Sengupta 2002).
recall scores for animated objects and still objects within a
banner ad. This warrants further study. Furthermore, the To measure advertising revenue generated from local auctions
study only used one banner ad and did not examine the hosted by venturacountystar.com for seven months, metrics
interaction of multiple banner ads of different types to unearth were gathered through Scripps' Netgravity software and
results of banner ad distinctiveness and recall. compared to banner ad revenue during the same time period.
A descriptive analysis was used in this study to compare
In addition to Li and Bukovac's (1999) study that indicated
advertising revenue generated by banner ads and advertising
large banner ads attract viewers' attention, a study done by
revenue generated by online auctions on21 Journal of Interactive Advertising Fall 2005
venturacountystar.com during the same time fame. This was 1,000 impressions or page views. Table 1 provides a sample of
compared in percentages and revenue dollars. Netgravity costs for popular online ad units.
software was also used to capture the number of page
Table 1. Commonly Used Online Advertising Units and
impressions for the local online auctions and banner ads and
Sample Costs
this was presented in the number of impressions and
percentages.
Ventura County Star's Online Banner Ad and Auction
Format
One of Ventura County Star's goals is to increase advertising
revenue by becoming a host site for advertisers and by
deploying online banner ads and local online auctions to
generate revenue. The Ventura County Star and its online site,
venturacountystar.com, are owned by The E.W. Scripps
Company (Scripps 2003). The E.W. Scripps Company is listed
on the New York Stock Exchange with the ticker symbol SSP.
The Ventura County Star is a daily newspaper that serves
Ventura County, CA, with a daily circulation of about 94,000
(Staff Reports 2005). In addition to its newspaper, the Ventura
County Star has an online presence at
http://www.venturacountystar.com. As of September 2004
venturacountystar.com reached over 100,000 registered users
(free registration), and nearly six million visitors accessed the
Web site in September 2004 (Owens 2004). In addition, the
Ventura County Star's Web site was awarded a general
excellence award for its size in the fifth annual Online
Journalism Awards (Macchiarella 2004). The awards are a
joint project of the Online News Association and the
University of Southern California Annenberg School for Ventura County Star's Online Media department began online
Journalism. auctions to increase advertising revenue and to drive more
traffic to its site. The software costs to run the local online
The newspaper operates an online site that deploys online
auctions were absorbed by the newspaper's operational costs
banner ads and measures the impressions and revenue
(Owens 2005). New Media Director Howard Owens (2005)
generated from the banner ads each month. The metrics are
asserts that the software and hardware costs were operational
captured by DoubleClick's NetGravity, which is server
costs that did not cost the newspaper additional funds to
software that allows Web sites, such as venturacountystar.com,
deploy online auctions.
to deliver and track online ads. Ventura County Star's site
deploys five kinds of banner ads (1) sponsorship buttons The Ventura County Star's online auction model involved
(small spot/static banner ads) placed at the bottom of the page; bartering. Bartering is a popular trend in broadcast radio and
(2) standard banner ads (468 x 60) placed on the top or television (Arens 2006; Belch and Belch 2004; Lane, King, and
bottom of every page; (3) small banner ads (115x60) placed at Russell 2005). Generally, it involves acquisition of broadcast
the top and bottom of every other page; (4) section sponsors time by an ad agency or advertiser in exchange for
(e.g., business section); and (5) ad spots, which are placed on merchandise or operating capital. It does not involve any cash.
the left hand side of the page. The Ventura County Star obtains advertisers who provide
products or services for bidding in exchange for print
A four-week reach of a banner ad on venturacountystar.com
advertising and banner advertising. Auctioneers provided
was included in its online ad campaign. Frequency was
goods or services for online bidding in exchange for online
determined by how many impressions a banner ad acquired
and print advertising by the Ventura County Star. For
each month. The Ventura County Star charged $4-4.50 per22 Journal of Interactive Advertising Fall 2005
example, if a local hotel provided a two-night's stay for link to a full page descriptive page; (4) full page detail on the
bidding, the Ventura County Star exchanged print and online auction Web site with a link to the business' site and bidding
banner advertising to promote brand awareness, online history for the package; and (5) a 120 x 60 animated banner
auction awareness, and to attract bidders (Wanamaker 2003). rotating on every online auction page for businesses whose
If a golf shop provided athletic apparel for bidding, the packages exceeded a combined $750 retail value.
Ventura County Star ran ads in the newspaper to promote the
To further encourage participation in the online auction from
golf shop.
local merchants, the Ventura County Star offered a 75% retail
The open-cry, "going-going-gone" deadline local online value guarantee of return, which was known as Star Rewards
auctions ran for 12 days and included multimedia advertising Auctions (Scripps Online Auctions 2003). For example, when
made up of print and online exposure from: (1) the Ventura an advertiser gave the Ventura County Star a $50 dining
County Star newspaper, (2) The Bremerton Sun (Seattle) certificate and the final bid amount was $28, the Ventura
newspaper, (3) Abilene Reporter News, (4) San Angelo County Star gave that advertiser $37.50 (not $28) of online
Standard Times, (5) Wichita Falls Times Record News, (6) advertising (e.g., banner ad) value.
Evansville Courier and Press, (7) HGTV.com, and (8)
Some of the auction item recommendations given by the
FoodNetwork.com (Scripps Online Auctions 2003). In
Ventura County Star included certificates for dining, hotel
addition, a sponsor was highlighted each day in a display ad.
stays, day spas, retreat spas, hair salons, nail salons, resorts,
The Ventura County Star ran print advertisements in its paper
bed and breakfasts, special events, golf packages, and theme
to promote the online auction. The ¼ - ½ page ads ran 11-19
parks. The Scripps Online Auction Letter to Businesses (2003)
days to promote the online auctions-an $18,000 advertising
stated, "If online auctions items look good to the sales rep and
value (about $1,200 per ad). This was one way the Ventura
have some mass appeal, then it will have mass appeal" (p. 1).
County Star generated bidders. In addition to promoting the
Included in the letter's guidelines for sales, each sales
online auction in the newspaper, in-house banner ads were
representative that brought a certificate to the auction
showcased on the Ventura County Star's site at
coordinator was responsible for bringing in an accurate item
http://www.venturacountystar.com. Kip Wanamaker, Sales
description, an accurate business description, an accurate
Representative for the Ventura County Star, said it was one
advertiser URL, and photos taken with a camera. Sales
way to leverage the use of the paper and its site (Wanamaker
representatives were informed that auction item photos were
2003). Furthermore, e-mail newsletters to registered members
taken off the advertiser's Web site. If photos or scanned
of the Ventura County Star's networks (e.g., 1,102,000
material were not brought to the auction coordinator by the
registered members of HGTV, FooodTV.com and
due date, stock photos were used. All auction items and
DIYnet.com) were notified by e-mail about the auction.
descriptions were printed by the auction coordinator and
In summary, the auction was promoted in three ways: (1) on given to the sales representatives to read and to note any
the Web sites of three popular networks (3,360,000 unique corrections if needed. The Ventura County Star stated clearly
visitors of HGTV.com, FoodTV.com, and DIYnet.com); (2) e- that it was the sales representatives' responsibility to "bridge
mail newsletter about the auction sent to registered members the gap between the advertiser and the auction coordinator"
of HGTV.com, FoodTV.com, and DIYnet.com; and (3) (Scripps Online Auctions 2003, p.1).
banner ads on seven regional Web sites for 20 days (i.e.,
The Ventura County Star's online auction's advertising
Ventura County, CA, Metropolitan Denver area, Kitsap
revenue was generated from the money received from the
County, WA, Corpus Christie, Abiline, San Angelo and
winning bidders for products or services. Exhibit 1 shows a
Wichita Falls, TX). Businesses were promoted in five ways: (1)
sample of August's auction products and services hosted by
newspaper advertising (i.e., 20 consecutive days of newspaper
the Ventura County Star. Exhibit 2 is a sample of detailed bid
promotional ads with logo to 2,230,000 readers in Ventura
information.
County, CA, Denver, CO, Kitsap County, WA, Corpus
Christie, Abiline, San Angelo and Wichita falls, TX); (2)
auction Web site sponsor pages with a photo of the business'
location, name, and link to the full page in the auction; (3)
auction Web site browser page with a photo of the business'
location, name, short description, current bid amount, and23 Journal of Interactive Advertising Fall 2005
Exhibit 1. Sample of August's Online Auction Products for RESULTS
Bidding
The Ventura County Star's online site, venturacountystar.com,
deployed an open-cry, "going-going-gone" deadline, 12-day
local online auction during the following months: January,
March, April, May, June, July, and August. During these same
months, the Ventura County Star deployed online banner ads.
The revenue and impressions (i.e., page views) generated from
the online banner ads were captured by Netgravity software
and the impressions (i.e., page views) and revenue generated
from the local online auctions were also captured by
Netgravity software. Table 2 provides a breakdown of banner
ad impressions and revenue for the 12 days during each
month for local online auctions and banner ads.
Table 2. Auction and Banner Ad Impressions and Revenue
Exhibit 2. Sample of Detailed Bid Information
Auction impressions for seven months (12 days each month)
totaled 15,056. Banner ad impressions for seven months (12
days each month) totaled 92,831,294. Overall impressions
totaled 92,846,350. Auction impressions increased the site's
exposure and traffic by 1.67%. Total revenue for the auctions
during the seven months was $46,568. Total revenue for
banner ads during the same seven months was $33,893.
Average auction revenue during the seven months was $6,652
while the average banner ad revenue was $4,841. Table 3
shows the impressions and revenue of Ventura County Star's
auctions and banner ads for 12 days during the seven months,
and Table 4 shows the mean auction and banner ad revenue
during the seven-month time period (12 days each month).
Table 3. Total Impressions and Revenue for Auctions and
Banner Ads24 Journal of Interactive Advertising Fall 2005
Table 4. The Mean Auction and Banner Ad Revenue revenue. This answered the first research question: Does
Ventura County Star's local online auction format increase
revenue? In addition, this study answered the second research
question: Does Ventura County Star's local online auction
format bring in more advertising revenue than banner
advertising revenue during the same time period? The seven
Examples of some of the auction suppliers included various local online auctions garnered higher revenue than banner ads
amusement park admissions; hotels, inns, and resorts; a host for four of the seven months and the overall online auction
of books and products from FoodTV.com; golf shirts; dinners revenue exceeded banner ad revenue. The online auction
at various restaurants; golf at various courses; photo sittings; revenue was $46,568, which exceeded overall banner ad
artwork; professional football game admission; helicopter revenue of $33,893. Online auction revenue generated 26%
skiing; hotel and casino packages; retreats; bike tours; fishing more total revenue than the total banner ad revenue.
trips; rugs; workout gyms; presidential library admissions; and
more. Examples of some banner ads included American Although banner ads generated more overall impressions (i.e.,
Airlines, Better Business Bureau, Camarillo Travel, California page views) than the local online auctions, the overall revenue
Wine Club, Better Kitchens, Albertsons, Alfresco, Embassy was lower (i.e., $33,893) than auction revenue ($46,568).
Suites, Moorpark Country Club, Opolo Vineyard, Old Creek Auction revenue spiked during the month of May to $10,698
Ranch Winery, Sterling Travel, Steve Thomas BMW, Wild from $7,835 in June; however, May had fewer impressions
Horse, Comstock Loans, Careers at the Court, Wades Wines, than in June. There was an increase in auction revenue from
Western Pacific Housing, and more. months one to four, and following the spike in May, there was
a slight decrease from months five through seven. Online
INTERPRETATION OF RESULTS auction impressions increased site traffic by 1.67%. This
Newspapers' online versions, not bound by static sheets of answered the third research question: Do the Ventura County
processed pulp and ink, are pursuing innovative formats to Star's online auctions generate traffic to its Web site?
enhance the media mix and to increase advertising revenue Although the local online auctions' overall impressions were
and traffic to their online site. One innovative type of online 15,056, the impressions metric could indicate that some of the
advertising format for newspapers is the local online auction. impressions were conversion events. Conversion rate and
Research in the area of newspapers deploying local online revenue are essential to online profitability (Roche 2005).
auctions, however, is still at an embryonic stage. This study Conversion is a site's ability to persuade users to take desired
contributed to the growing field of research examining online action on the site (Anfuso 2005). The number of impressions
auctions by examining strategies employed by online sellers of (i.e., 15,056) indicates that the revenue generated (i.e.,
different sizes (e.g., large and small retail companies) and in $46,568) is a result of how consumers are getting from a page
various industries. This study investigated how one impression to the point of conversion (i.e., winning bids that
newspaper, the Ventura County Star, launched local online generate revenue). A percentage of the winning bidders
auctions for the first time and measured their effectiveness by comprised the impressions metrics and contributed to the
comparing online auction advertising revenue to advertising revenue (i.e., conversion). The overall banner ads impressions
revenue generated from banner ads during the same time (i.e., 92,831,294) did not indicate conversion because revenue
frame. It also examined the local online auctions' page generated from the impressions were based on CPMs and not
impressions and banner ad impressions to investigate how conversion events.
much traffic was generated. This study provided the metrics
(i.e., impressions and revenue) of an open-cry, "going-going- Limitations and Suggestions for Future Research
gone" deadline, 12-day local online auction held at Growth in the use of online auctions to sell products and
venturacountystar.com during January, March, April, May, services suggests that this area needs more systematic and
June, July, and August. Metrics were compared to banner ads extensive investigation, especially since literature reviews
deployed during the same months the auctions were deployed. indicate that online auctions have not been studied as
Based on the metrics provided by Netgravity, the local online extensively as other areas of online advertising (Becherer and
auction revenue increased online advertising revenue by Halstead 2004; Gilkeson and Reynolds 2003; Wang 2002). This
$46,568, which was a 134% net increase in online advertising study contributes to the growing need to examine the various25 Journal of Interactive Advertising Fall 2005
online auction formats within different industries, with impressions to the actual number of bidders and revenue or
specific focus on the newspaper industry and with one comparing actual number of bidders and banner ad click-
newspaper's approach to using local online auctions as part of throughs. Additionally, a study can investigate branding
its media mix to increase revenue and site traffic effects of local online auctions deployed by newspapers.
Because the use of local online auctions as part of the media Newspapers that are not using local online auctions could be
mix is newly emerging for newspapers, this study posed some limiting their growth by ignoring this component in the media
limitations. Some of the limitations to this study were: (1) mix and the potential revenue and Web site traffic that
diversity of auction products, (2) number of online auctions accompanies it. An investigation of other online auction types
deployed, (3) dates of online auctions deployed, and (4) daily applied to newspapers could be investigated to examine
circulation of newspaper. revenue, impressions, and conversions. In addition, a
comparison of local online auctions' effectiveness could be
Based on this study's results, newspapers that deploy local
employed to other online advertising formats besides banner
online auctions have the potential to increase online
ads.
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