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Media Owners - Get Ready for 2013's Perfect Storm



Practical Tips & Tactics for Advertising Sales....

Economic and advertising revenue forecasts for 2013 so far indicate various challenges for global and local Australian markets including a drawn-out Federal election campaign and the uncertainty this brings.  In a media landscape already going through a structural evolution this may mean more competition for budgets where marketers are increasingly looking for certainty on their advertising return on investment.

To reach commercial goals in this climate, media owners and their advertising sale staff, should be well prepared to generate revenue by adopting a pro-active,Advertising Sales Plans for 2013 responsive and best practice approach by delivering a well developed sales proposition to advertisers.

Here we list 10 practical tips & tactics which media owners can put in place and consider in preparation for the year ahead.....

Diversify Revenue Streams – developing, managing, optimising and evolving multi-tier revenue streams, both within advertising and beyond advertising, is increasingly important for publishers of all sizes.

Publish Across Multiple Platforms – consumers increasingly require content to be served across multiple media and social platforms such as iPad, Facebook and the fastest growing sector – mobile.  Have you identified your audiences multi-platform usage - with opportunities to then create a platform and apply corresponding advertising and revenue options?

Your Competitive Market – do you have a strong ongoing understanding of your competitive market and your place in it? – your advertisers will!  Are you promoting your 'unique selling points' (USPs) effectively and can you counter your potential advertiser's objections based on your well researched competitive knowledge?

Audience Statistics - Quantitative Data – marketers are looking for more certainty surrounding the reach of their advertising. Media owners should as a matter of priority develop transparent and accurate practices on the reporting of audience statistics and where possible provide market standard audited figures.

Have You Surveyed Your Audience Lately? – qualitative audience data is an important sales tool for your team to present to advertisers as a compliment to audience statistics or quantitative data.  Audience surveys can help define your primary and secondary markets and may also uncover other potential advertising sales markets.  What audience insights and behavioural data can you currently offer your advertisers? 

Review your Sales Collateral – is your media kit giving advertisers the information they require in a concise and compelling format?  If it’s any longer than 4-5 well thought out powerpoint slides you’re saying too much.

Internal Resources & Systems – ensure any inbound leads and sales which you are generating are maximised through consistent and professional internal systems - this may include the implementation of a CRM system (customer relationship management), sales training for your team and attendance at various industry events and workshops.

Update Market Knowledge – in a media and advertising landscape which continues to evolve, fragment and change almost on a daily basis, gaining an understanding of the broader market will benefit busy sales teams and advertising clients -

Communicate to Advertisers – in the same way you communicate relevant information and updates to your consumer audience or readership how do you regularly communicate to your other key stakeholder market – your advertising client base?

And Finally – RUN, RIGHT NOW - to every possible opportunity to reach potential advertising buyers.  In the least your details should be listed and updated in all relevant, quality advertising and business directories – including MediaScope.

These points are not definitive as each media owner has their own unique set of circumstances, however 2013 is already shaping up as a highly challenging year where media owners will need work harder and smarter to reach revenue goals.

Even with the best possible advertising sales team and well developed sales proposition in place, your media platforms should be continually grown and optimised to offer advertisers effective reach to their target market.

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Further Resources

  •  - Advertising Sales Centre - for media owners and advertising sales professionals - a growing range of articles, guides, profiles and practical tips on managing and growing advertising sales
  • - Tailored Services - MediaScope offers a range of well-regarded services for media owners to help with all segments of the ad sales process.  Full outline of services here

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