Not All Google Touches Turns to Gold
Google’s test to see if its auction advertising model would carry over to print has hit a major setback. According to BusinessWeek, Google has failed to raise much interest for the print ads it offered on a test basis, earlier this year.
The tepid demand became evident in some of the winning bids, which were recognized earlier this month. Nicholas Longo, CEO of CoffeeCup Software, which makes tools for creating Web sites, wound up paying just $4,000 for each of three half-page ads in Martha Stewart Living. It was a long shot: The magazine’s rate card pegs the price of a half-page ad at more than $59,000. Neither Google nor Martha Stewart Living would say what Google originally paid for the space, but it didn’t get a similar discount.
Google says it is pleased with the data collected but, the fact that advertisers didn’t trip over themselves to sign-up for Google Print, suggests the companies hopes of transferring its successful auction model to offline ads, will not be a smooth process.