|Marcus Webb, international digital director, Time Out, UK, spoke to delegates at the 3rd Asia-Pacific Digital Magazine Media Conference currently being held in Seoul, Korea about the route to profitable websites.
The Time Out brand, in 37 cities across 25 countries, prides itself on its relationship between consumers and sellers, and bringing those two worlds together is "key to our success", said Webb.
So how is that success achieved? "We have created one global technology platform. Every product is generated out of it, and we also license this tool", said Webb. It certainly seems to be working, with Time Out's digital revenues growing 50 per cent every two years since 2007.
Webb described the importance of managing digital advertising, and said that Time Out employs experienced ad traffickers to manage online ad campaigns. This allows advertisers to target audiences effectively, according to their destination. "Knowing your data is key to serving ads and serving your market", he said. "Use standard ad units such as MPUs and megabanners." Webb also described how the company is generating revenue from sponsorship, saying that apps (iPhone and iPad) really help to deepen the integration for sponsors.
"Put effort into video, mobile and social media advertising" said Webb, "that's where we're seeing growth." The company's ecommerce activity generated £3.7m in 2011, from a total of 71,000 transactions. Time Out's ecommerce revenue was up 300 per cent in 2010-11.