The New York Times Company Launches Ricochet, A New Social Media Advertising Program
NEW YORK & PALO ALTO, Calif., Apr 26, 2012—The New York Times Company announced today the launch of Ricochet, a new approach to digital marketing. SAP, along with media agency Mindshare, is the first company to utilize this new marketing solution.
Developed in The New York Times Company's Research & Development lab, and commercialized by the Times Company's newly formed R&D Ventures group, Ricochet is a new model of digital marketing that blends media buying with a brand's social media and owned media strategies. R&D Ventures evolved out of the R&D lab and brings promising new product concepts to market.
Here is how Ricochet works: A brand selects articles from any of the Times Company's Web sites that are consistent with the brand's content strategy. The Ricochet Platform (patent pending) then creates a unique Web address that binds the brand's advertising to those articles for a set duration. During that duration the brand can share the Ricochet links through any of its owned media channels and across social media including Facebook, Twitter, eNewsletters, Google+ and more.
In conjunction with media agency Mindshare Worldwide, SAP is the first advertiser to utilize the product. SAP's use of Ricochet for its ad campaign will feature articles from NYTimes.com. An example of one of the SAP-selected articles can be viewed here. Here is that same article, as it appears to anyone who navigates to the page without using the Ricochet link: http://bits.blogs.nytimes.com/2012/04/19/supercomputing-rented-by-the-hour/.
SAP plans to use the service to balance its marketing approach across both push and pull marketing by attracting the right kind of customers with The New York Times's respected content and then providing a targeted advertising message--all delivered through SAP's Web properties and social accounts. The service will be utilized by SAP's official social media accounts as well as by key influencers within the company. The service will also tie into SAP's new "Run Like Never Before" global advertising campaign launched last week.