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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