The 90’s are calling. They want their sales team back.
In the decade of grunge music and Titanic, accessing the internet meant waiting for someone to get off the landline so you could dial up AOL through your 2400 baud rate modem. Your sales team was on the phone, making cold calls, and driving around to attract clients in person. Print media, like newspapers, direct mail and trade magazines, were the advertising options available to reach audiences.
Today, consumers wouldn’t have the patience for the screeching sounds and slow speed of dial up. Advertisers want to be where their audiences are. Print isn’t dead but your sales team needs to offer more opportunities to keep their clients coming back for more.
Bring your sales team up to speed with a modern approach to sales, building trust and earning love for your brand.
Demonstrate Thought Leadership
To earn the trust of your clients, they rely on you to think outside the box while solving their biggest challenges. If your sales team can demonstrate a clear understanding of how to reach an audience through existing and updated avenues, your client’s interest will be peaked. If your sales team can offer success stories and can replicate those successes for your clients, your clients will want to work with you. Thought leadership improves your brand affinity through sharing ideas, educating, and engaging with clients who want to trust their media partners.
Attract through Inbound Approach
An inbound approach to sales differs from the old approach of cold calls or elevator pitches. Inbound attracts clients who are already interested in what your publishing team is selling. Clients learn about your business through channels such as internet searches or social media. Once they find your business online, they learn more about your brand, how you solve their challenges, and the benefits of working with you. They move from being interested to wanting to learn more to ready to talk to someone. An inbound approach certainly isn’t going to replace the value of cold calls but it will definitely amplify your sales opportunities.
Keep Them Interested
Demonstrating thought leadership through your online presence and social media channels will get clients interested in what you have to offer. Once they’ve signed up to learn more, the next step is to keep them interested. If your website has a blog or if you’re using social media, update it regularly with articles, case studies or information - especially if you’re hoping to attract clients from a certain vertical. Another resource to consider is a newsletter that goes out to your clients on a regular basis such as monthly. Clients reading your newsletter will begin to trust in your knowledge as you educate them on industry challenges or opportunities.
Partner through Consulting
Advertisers want to trust where they’re spending their dollars. No longer can your sales team just “sell” and expect their clients to stick around. Publishers need to be able to work with advertisers as a credible partner and resource, guiding them through growth and new opportunities to reach a wider audience. Your sales team’s approach to selling must meet this new demand and your company must have the resources and tools to make it easier.
LaunchPad Media Management’s portal offers a user-friendly and always-available system for your modern sales team to stay connected with their publishing clients. With order creation, easy changes and helpful templates, LaunchPad was developed exclusively for the publishing industry sales professional. Contact management and reporting are build right into the system so your sales team has instant access to records, invoices, sales history and more.
To learn more about the modern sales abilities of LaunchPad Media Management, request a demo.
Making Media Planning Easier in 2018
While the world of publishing continues to change, creating pain points for media companies, some old inefficient habits die hard. For many publishers, media planning is still handled the “old school” way, through disparate systems that can be difficult to manage. The very point of media planning is to create a clear and valuable path of reaching an audience.
Shouldn’t the media planning process be just as clear and valuable?
Media Planning Old School
Media companies are planning copy and editorial through discordant systems such as Excel spreadsheets and email. Freelancers, art directors, editors, and photographers are communicating in silos, duplicating efforts and, unfortunately, know no other way of managing their processes. With so many touch points throughout media planning, these disconnected systems could lead to missed deadlines or production runs. Editors must work harder to manage, and even micromanage, the flow of information and planning.
Brand Marketing Challenges
Brands want media companies to help them find new ways to reach fans. They seek to work with media companies that have their fingers on the pulse of trends and diverse channels to capture the attention of a more discerning audience. The best way for a publisher to offer this to clients is to overcome the breaking points within their own management system. Between the creative side and the technology side of media planning, there is a centralized place where strategic intention and organization exists.
Centralize Media Planning
The solution to these challenges is to centralize media planning. From a single interface, editorial and production is available at any time to those given proper access. LaunchPad Media Management offers editors the ability to:
Editors also have the ability to clone stories or media types to easily create a new story. Assignments are initiated through the LaunchPad portal and editors can review work from anyone assigned. Assignment deadlines show up as notifications on associated dashboards and customizable reports can also be generated.
Centralizing the tasks associated with media planning bridges the gaps associated with the old school way of media planning. With new technology, publishers are able to move into the fast-paced world of digital agencies and create campaigns to help brands meet their audience’s ever-changing demands.
To request a demo of the LaunchPad Media Management tool, click here.
A publishing or media company’s very existence is dependent on their ability to stay relevant. Today’s advertising community understands that they are competing for an audience to notice and be moved to take action. Changes in the way audiences consume information have led publishers to work more like digital or creative agencies, providing cross-platform access to clients to help reach a more discerning audience. As with any growth, there are growing pains.
Publishing industry pain points are actually opportunities for media companies. Here are challenges to tackle head on.
Finding the Balance
Although the U.S. consumer spends 5 hours per day on mobile devices, readers are still choosing print media that is relatable and engaging. The publisher that understands how to provide information to digital readers, and offer print media that is absorbing and educational, is the publisher that wins. That publisher requires the proper tools, for print and digital, so they can meet audiences where they are.
Being Everything to Everyone
To stay relevant and useful, media companies are not only offering print ads but also email blasts, event planning, digital content, and more. Publishers are essentially becoming agencies, in some cases acquiring agencies, to fulfill a multitude of audience-grabbing needs for their clients. Sales teams must understand these diverse channels, and have immediate access to data, to be able to serve a client that wants a multiplatform campaign.
Too Many Systems
Publishers manage their contracts, media planning, inventory and more through various disparate systems, email, and paper. These items can easily be lost, misplaced, or overlooked. Coordination is required to manage an ad or content from the sale to the publication, especially in the digital age.
Another way that media companies save money is to rely on a remote workforce. Freelancers, contractors, and other contributors must also be efficiently managed, as well as the content they provide. Emails and Excel worksheets are slowing down productivity and publishers must find a fast, secure and competent solution to remain profitable.
Measurements and Analytics
The driving influence for success is centered in the Editorial Department. Editorial expense should be based on ROI, not budgets. Every story, blog, writer, contributor and freelance needs to be measured. These analytics, and the success of the company, can only be improved if they are measured and tracked with regularity.
Introducing a New Solution
LaunchPad’s Media Management software meets the needs of publishing industry pain points because it was developed specifically for media companies. The portal began as a CRM for a media salesforce and expanded to tie in other uses required in the publishing space.
The LaunchPad solution offers the following:
I often find myself becoming an extension of the management team of the companies we serve. A task I gladly accept with my finance background and strong desire to analyze data.
Recently I was working with a management team to analyze some integrated packages they launched in 2017. During our analysis, I saw some numbers that raised a few flags that I thought would be important to further discuss and understand. In short when analyzing one of the magazines we saw that roughly 60% of the ad pages were sold through integrated packages however they only made up 35% of the revenue. How was this going to affect the profits of that issue? Why such a large spread in what the market is willing to pay for an ad page versus what we have discounted our pages in packages?
I think what this is telling us is that yes indeed integrated packages are getting people in the door but in many cases I see the large discounts being offered not always necessary. The market is telling us what a single page is worth and we should consider this when allocating revenue in our integrated packages. Offer discounts but not to the point that your profits are being sacrificed.
Are you able to get this type of analytics reporting out of your current software? If not, give us a call and we can show you how with LaunchPad it is possible.
As you may have noticed recently Conde Nast has been in the news more than I can remember. Recently it was about their commitment to grow print revenue in 2017 not only with their existing titles but with the launch of new titles. This week they announced a fairly large organizational shake-up that is dropping the traditional "Publisher" title and replacing it with a more encompassing title for todays media landscape. If this is something you are interested in doing let us not only give you some ideas on structures we see working well but let us help you in re-organizing LaunchPad to mimic the new structure. READ ON (AdWeek)
This past weekend we had the honor of sponsoring another successful CRMA event. In attendance for LaunchPad was Mark Migilore, Senior Vice President, and below are some of his highlights and recaps from the weekend.
1. Building Brand Value
Bruce Turkel illustrated his seven rules with memorable, entertaining anecdotes and exceptionally clear and simple real world examples. Emphasis on creating a brand that makes your business more valuable regardless of who your customer is, why your brand identity is more important to your continued success than the function of the product or service your sell.
2. Reinvigorating the Spirit of Your Organization
Keynote Guest Speaker: Bob Danzig, former CEO of Hearst Newspapers, grew up in foster care, joined the Navy and was awarded a Journalism Fellowship to Stanford University, ultimately rising to the rank of CEO of Hearst at the age of 44. Bob served on the board of Hearst for 21 years, served as the Dean of the Hearst Leadership Program for 15 years, has authored 11 books and has delivered inspirational keynotes to over 1 million people, designated as a “Hall of Fame Speaker” by the National Speakers Association. Bob donates 100% of his speaking proceeds to foster care.
Bob Danzig discussed how to reinvigorate the spirit of your organization and “invite excellence” through the leadership and celebration of success
3. Maximizing Revenue & Minimizing Drama
This session dug into the evolution of employee toxicity that can cause a rise in drama and a decline in revenue.
4. Forecasting & Planning
This group discussion focused on the critical task of properly forecasting sales, budgeting expenses, planning new initiatives, creating branding opportunities, launching new events and expanding or contracting staff accordingly.
Thank you Mark for the recap and if you have further questions about the content of a session please reach out to Mark to further discuss. Mark can be reached at 214-969-7300 ext 150.
We will see all CRMA members in Houston May 20-22.
Over the past several years we have seen an increase in the digital offerings from our customers. Everyone is trying to figure out the right formula to keep their advertisers engaged and increase their dollar spend. For many years it was a lack of reporting back to the customer that was stymying re-purchases. Then once a publisher was able to get back reports to the agency or advertiser there was a disagreement between the numbers reflected by publisher versus what the agency/advertiser was showing. Today it seems that some of the offerings provided by publishers are somewhat complicated and require more creative work by the agency/advertiser. This article published today by the Wall Street Journal does a good job of breaking down Programmatic Native Ads and why technology may be the limiting factor in the quick adoption.
Link to Wall Street Journal Article
City Regional Magazine publishers and staff completed a very successful 2 day conference in Denver, CO (May 22-23 2016).
Industry leaders held various seminars addressing the needs of all departments. Especially interesting was the emphasis on enhanced editorial content and tailoring eNewsletters to individual audience member's interests.
Needless to say, 2017 will see a greater outreach of local events and audience driven initiatives.
Sonoma Magazine, D Magazine and Washingtonian won the coveted general excellence awards in their circulation categories in the 31st Annual National City and Regional Magazine Awards competition. For a complete list of award recipients, click the button below: