Today I caved in and decided it’s time to create new ad formats for Keto List Singapore. “Caved in” because I was initially unsure if customers are willing to pay for more expensive ad formats. Or rather, I lacked confidence that people would even want to pay for ads, lest more expensive ads! But after having more than a handful ask me about it, I took it as a signal from the market. I didn’t think it will work, but as part of a marketing experiment, I decided to include 2 lines in my emails and messages asking new and existing ad buyers whether they would be interested to have different ad formats. The response seems quite positive, but with n not being a representative sample size in any rigorous way, of course. But my entrepreneur’s gut feel after these feedback – it’s worth a try.

So I did. I created a new Advertise page, and listed out the new ad packages:

Featured ads, $15-$30 for 1 month: Listings get a bump up the list so that users see them first. So far this is the ad product that had seen the most revenue. I recently tested a Boosted feature ad as well—a bump up to the top 4 in the list—and there were also buyers, especially ecommerce traders who just launched their store and needed the exposure.

Banner ads, $60 for 1 month: Visually prominent banner ad on the home page before the start of the listings. Visitors see the banner ad even before they get to the listings. Great for marketing campaigns or product launches. This was most frequently enquired, and might have the most potential.

Omni ads, $120 for 1 post each on all of Keto List’s social media channels - Facebook page, Twitter account, Telegram group, Telegram channel, newsletter. This omni-channel ads and posts are going into grey area for me. Unlike the first two which are more static ads, Omni is an active ad where I have to post ‘sell-sy’ stuff to people’s emails, chat apps and social media feeds. I’m not sure if it will be well-received, to be honest. But I’m thinking of ways to make it less like noise and provide more value.

And a Bundle package, where ad buyers can buy all of the packages mentioned above in one bundle at a discounted price of $200 for 1 month.

I’ll be honest here: I had NO CLUE how to price these packages. I just went with a double multiplier on each tier since it felt ‘right’, though I have no evidence nor calculation algorithm to back it up. Is it too expensive for ad buyers compared to their other paid ad channels? Or am I under-charging? I have seriously no clue whatsoever. But I got to start somewhere, so in the spirit of iteration and prototyping, I went with it and will stay open-minded to change if the market so deemed.

Indie makers who have paid ad products, and folks here who had bought ads before: So what do you think? Does the pricing make sense? Am I over or under? Help?!