Getting the revenue engine humming: sell solutions, not space
In today’s environment, selling advertising has become more challenging. And, it’s not just about the economy although that is a driving factor. Ultimately, the issue is that the ways to connect advertisers to consumers at the right time with the right message has become increasingly complex; yet at many traditional media companies today the sales process has changed little.
Within this industry we recognize that media use is changing and that we need new and versatile ways to deliver content and messages to a attention-deprived and at times fickle audience. However, we also need to consider the plight of our advertisers that are trying to do the same thing with far less tools and know-how than media companies can offer.
So, what does all this mean? While consumer needs and their media use is changing, advertiser needs are changing. There are exponentially more options for marketing than there used to be and in many cases with far slimmer profit margins and budgets. The Internet and mobile provide interesting new options that they may not understand. And, worst of all, traditional media reps approach them selling space, not solutions. They talk about column inches, 30 second spots, and sections or day parts, impressions or runs. Today’s environment demands that we become far more creative, and offer real solutions to our clients.
How can sales managers lead their teams through this transition? The short answer is training, training and more training. But, it has to be the right skill-building approach. Your training program should address several key areas including:
· Proper needs assessment skills – talk to your advertisers about their goals, their marketing needs, their ideal customer set instead of selling them space and mass audience
· A shift in thinking and solid sales technique foundation – from inbound to outbound, order taking to selling, a farmer to a hunter, sales people need to shift from servicing clients (which worked well alone when marketing was a less complex process) to achieving their goals and helping them grow their businesses
· Measuring success – it is a truism that what you measure moves. Part of your training program should be to measure success and progress on an ongoing basis long after the training session. Identify gaps in skill set and address them. Most managers understand that rewarding success is critical to motivate sales teams, but many companies are less equipped to properly measure success
· Flexibility in offerings – be creative in finding solutions that meet your advertisers’ needs, not rigid in your packaging
· Outbound strategies & advertiser diversification – not only is a more aggressive, outbound strategy important to all media companies, it is particularly critical when reaching out to new advertiser bases
At the AIM Group, we offer several different kinds of sales training options, creating customized programs for our clients either as standalone engagements or as part of a product / initiative launch. We also have exciting new pay for performance agreements where we train and then assist your reps in the initial sales – we only get paid if you make money. This offers an exciting opportunity for getting your revenue engine humming even with a limited budget. If you would like information about any of our programs, just let me know.
In our next two installments, we’ll cover understanding your prospects’ needs and business and other aspects of your sales strategy that are critical to success. Training is important, but there is more you can do to get the most out of your investment.
And, don’t forget, we’re still looking for your comments on your best hyperlocal sales strategies. Join the discussion today!
