NA papers repeat winners as CityXpress presents Golden Auction Awards for January-June 07

. October 2, 2007

CityXpress Corp., the leading provider of event auctions to newspapers in the Americas, Europe, Australasia and Africa, today announced the winners of its coveted bi-annual Golden Auction Awards for January-June 2007. The list includes three North American newspapers which are each claiming their third award, as well as first-time winners from the U.S. and international markets.
The Golden Auction Awards honor newspapers that conduct the most successful auctions, as measured by a set of key performance criteria: total revenue generated, percentage of items sold, and lowest ad discount ratio. The awards are presented to North American and international newspapers in each of four circulation bands. In addition, the newspaper generating the overall highest revenue is recognized annually.
The winning newspapers are:
North America
• The Star Tribune, Minneapolis, Minn., circulation over 250,000
• Edmonton Journal, Edmonton, Alta., Canada, circulation 125,000-250,000
• Leader-Post, Regina, Sask., Canada, circulation 50,000-125,000
• Sioux City Journal, Sioux City, Iowa, circulation under 50,000
• Helsingin Sanomat, Helsinki, Finland, circulation over 250,000
• Göteborgs-Posten, Göteborg, Sweden, circulation 125,000-250,000
• Nerikes Allehanda, Örebro, Sweden, circulation 50,000-125,000
• Östersunds-Posten, Östersund, Sweden and Sundsvalls Tidning, Sundsvall, Sweden (tie), circulation under 50,000
The Star Tribune, the Edmonton Journal and the Leader-Post are leaders among Golden Auction Award winners, with three prizes each in their respective circulation bands. All of the other winning newspapers are claiming their first awards.
“These three-time winners are excellent examples of clients who have learned from their auction experience and made the program work effectively and consistently in their markets. They demonstrate that auctions have lasting value for newspapers which commit to the program year after year,” said Phil Dubois, president and CEO of CityXpress Corp. “We salute all of our winners for their dedication and hard work.”
Among North American newspapers, The Star Tribune sold 75 percent of products offered in its auction and attracted 45 new advertisers, while the Edmonton Journal earned more than $1.2 million USD ($1,372,229 CAD) in revenue. With weekday circulation of 60,000, the Leader-Post generated an impressive $761,120 USD ($863,761 CAD) in revenue while selling 76 percent of its auction products. The Sioux City Journal sold 94 percent of its auction products to earn $87,320 in revenue.
“We have now done five auctions and each year we build upon what we know about how they work in our market, especially about what sells and what doesn’t sell,” said Lori Sebastian, The Star Tribune’s marketing project manager. “We also rely on CityXpress to enhance the tools it provides to help us stage successful auctions. It’s a great partnership and it continues to work well for us.”
“We have enhanced our auction product by changing our marketing strategies and by focusing on quality products,” said Les Wagman, advertising director of the Leader-Post. “We had our sales people focus on new and incremental business and we ended up with higher quality products that sold for a higher price.”
“The model that CityXpress offers is easy to implement, easy to control and easy to manage from the back end. All these factors helped us to have a great auction experience,” said Charlie Pankey, retail advertising manager of the Sioux City Journal. “The customer service level that CityXpress offers our industry is second to none. We look forward to our next venture together.”
Among international newspapers, Helsingin Sanomat sold 93 percent of products offered to earn $418,996 USD (€315.277) in Finland’s first newspaper auction. Göteborgs-Posten’s first auction sold 90 percent of its products to generate $432,816 USD (3 002 956 krona) in revenue, while Nerikes Allehanda earned $405,163 USD (2 811 099 krona) and achieved an ad credit discount of 31 percent, also in its first auction. Tied for top performance among newspapers under 50,000 circulation, Östersunds-Posten sold 89 percent of its auction products, while Sundsvalls Tidning earned $244,753 USD (1 196 061 krona) in revenue.
In general, the key factors in the success of an event auction are offering the right mix of attractive products, strategic promotion of the auction through a variety of channels, and a well-prepared and organized team, said Dubois.
All newspapers that conduct a CityXpress auction are eligible for the bi-annual awards, which are based on auctions held between January and June and between July and December. Each winning newspaper will receive a crystal gavel from CityXpress in recognition of its outstanding auction performance.
Newspaper auctions are online events staged by newspapers with goods and services provided by local retailers in exchange for exposure through the auction and advertising credits that are earned if the retailer’s items sell. Auctions help newspapers attract new advertisers and generate incremental revenue from existing advertisers, while boosting in-store traffic for vendors and producing good deals for consumers.
To date, CityXpress has staged more than 700 auctions with newspapers in 16 countries, generating more than $170 million in revenue for our clien

Category: Auction News

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