City paid BocaJump 8x above market rates
I truly wanted BocaJump to succeed but it looks like they’ve thrown in the towel. The only satisfying thing about Mike Bailey’s post is that he finally revealed his site traffic, which allows us to finally calculate the actual CPM rates paid by the City of Elgin to BocaJump for advertising.
According to Bailey, the site served up 750,000 page views over its lifetime. According to the taxpayer watchdog group Elgin Octave, the city has paid BocaJump $60,000 up through June of this year. I don’t know if any further payments have been made after June, so it’s possible that that amount can be higher. In any case we’ll just use $60,000.
The City of Elgin did not advertise from site inception either, so the actual page views is going to be less than 750,000. But we’ll just use that number.
Well, the math is simple. CPM or cost per thousand impressions is simply $60K/750 = $80. So the city paid BocaJump a CPM rate of $80. For reasons stated above this is an estimate, not a hard number.
For this amount, the City of Elgin received a small 300×250 run-of-site banner ad.
If you go to the advertiser section of the Chicago Tribune website you can buy the same 300×250 ad, geotargeted to the Northwest Suburbs for $10 CPM.
$10 Tribune vs $80 BocaJump.
Hmmm…which would you choose?
You can go to the Daily Herald, Courier News/ Sun-Times and get similar numbers. Generally speaking, local news advertising rates are not going to exceed $20 CPM. So no matter where you go, it’s going to be a lot less than what the City of Elgin paid BocaJump.
It doesn’t matter anymore now that BocaJump will be relegated to the Wayback Machine but it does go into the folder of clippings that people keep in their minds when they think about government waste, inefficiency or worse.