Business - Written by Alan Majer on Friday, December 12, 2008 16:54 - 7 Comments
The score: Craigslist 7, traditional media 2
Having used craigslist for all kinds of things (from giving away old televion sets to procuring IT services), I consider myself a vetran user. However, even I was surprised to learn just how much Craigslist trounces its traditional media competitor – classified ads.
This week, we’re renting out our upstairs apartment. So we placed a 1-week classified ad, as well as posting it in the for-rent section on craigslist.
First some background – In the past, we’ve always had the best success with local newspaper ads. A few hundred dollars on an ad is a good deal when it means you don’t leave a suite empty for a month - classifieds were a great source of leads for the money. In contrast, we hadn’t had much luck with craigslist in the past, too few responses and no real qualified renters.
My, how times have changed. Our local newspaper advertising cost us $325 for a week of ads. Cost of our craigslist posting: zero, zip nada. Here’s how they compared:
- Cost: $325
- Time before listing went live: 1.5 days
- Results (viewings): 2 viewings one late this week, one scheduled for next monday
- Results (completed applications): zero
- Cost: free
- Time before listing went live: 5 minutes
- Results (viewings): 6 viewings scheduled within 24 hours (and one more later in the week)
- Results (applications): Three sets of completed applications
All I can say is: Craigslist, you are amazing, wow!
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