Pressboard Introduces the Cost per Read
Our new performance model makes content marketing accountable
Today is an exciting day here at Pressboard. For the last few months we’ve been hard at work building a marketplace to connect brands and publishers around their stories. In that time we’ve been fortunate to work with some of Canada’s most influential storytellers and brands. Brands such as TELUS and Best Buy have been leveraging the Pressboard platform to find stories, integrate their brands and measure story performance across dozens of influential publishers at once. The stories that have been produced from these collaborations have been read and shared by thousands of Canadians. We know this because we are able to measure each story, and every single read. This granular analysis of stories is what has led to today’s introduction of our performance based model.
Pressboard campaigns make use exclusively of a “Cost per Read” model, meaning that campaign budgets are set and evaluated based on a guaranteed number of reads generated from each publisher. This is in contrast to the Cost per Thousand Impressions (CPM) or Cost per Click (CPC) models currently used for display advertising and native ad units.
Content is fundamentally different than banner advertising, and requires a new form of measurement. Stories, whether they are sponsored or editorial in nature, are created to be read and shared. The Cost per Read model aligns with the content goals for both publishers and brands, to have people spend time with their stories. There is very little value for the brand in the passive impressions being made on the story headline alone. Our platform analyzes how long a reader is spending with each story, whether they scrolled from top to bottom and any follow up actions they may take. It’s a much more robust metric that offers greater insight and accountability.
Companies such as YouTube, Chartbeat, Upworthy and Medium have been proactively moving towards viewing time and attention as the preferred performance indicator. We are taking it one step further by using the Read as not only an indicator, but as the currency with which campaigns are valued.
This is just the beginning, but we believe that it’s a great place to start.