Nextdoor is launching a new ad product called Local Deals. While the company has shown ads from local businesses for some time those have come largely through partners; this is the first broad-based self-service offering for small businesses (SMBs) on the site.
Simple ad creation. In order to set up a Local Deal, SMBs need to create free Business Page. They are then guided through the simple ad-creation process in a wizard. They choose a radius from a business location using a slider and adjust to reach or opt-out of specific neighborhoods. They pick an expiration time frame (e.g., 14 days), create a redemption code, upload images from their phones/computers or provided stock images, enter payment credentials and publish.
Pricing right now is fixed (impression-based) and depends on the number of neighborhoods targeted and the population density of those areas. There s no bidding and competition doesn t impact pricing, according to Nextdoor s Head of Product, Tatyana Mamut.
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