One of the most important decisions in establishing a digital ad sales program for your association is how to price your inventory. The model that you use will impact how attractive your publication is to advertisers as well as how much non-dues revenue you will be able to generate.
Associations tend to steer away from selling ads on a pay-per-click (PPC) basis, and as an advertising sales agency, AdBoom typically recommends that clients avoid this model as well. Here's why.
The Problem with Pay-Per-Click
In PPC, you only receive revenue when a reader of your digital publication clicks the advertisement. The assumption is …
They are being hunted: companies that market to an association's membership, that is. Within a short span of time, the same association may approach a single prospect with a host of opportunities:
Association publishers may offer print and digital advertisements.
Conference promoters may try to sell a company an exhibition table.
The association's education team may pitch sponsorship opportunities.
While each can drive revenue for an association, they also have the potential to pull resources and dollars away from one another and to exhaust the interest and goodwill of a prospect. This is the concept of cannibalization.
Don't let the fear of cannibalizing your advertisers …
When it comes to ABC’s show “Shark Tank,” this writer confesses to being late to the party. I only began watching this season and I’m hooked. (Get it, hooked). Bad pun aside, the show provides an excellent primer into business subjects like marketing, pitching, funding, and the benefit of strategic partnerships. It’s also a lot like pitching ad sales to potential clients. Like the entrepreneurs on the show, advertising sales representatives generally have a short time to make a big impression. They’re going to have to be passionate, but prepared to answer tough questions about the product and its value. There …
In sales, perhaps more than any profession, first impressions can make or break your potential to get your desired outcome. A client’s initial reaction to seemingly minor things, like your body language, can peak their interest or scare them off. It can build your credibility or make you come off as sleazy and untrustworthy during your ad sales presentations. It can get you closer to earning your next ad sales client or closer to the front door.
Here are a few of our suggestions for making introductions that impress:
Show the gatekeeper some love: The receptionist or assistant to the decision maker wields power often underestimated with …
As usual Zig Ziglar got it right. There are really only five basic reasons your prospects aren’t buying print or digital ads: need, money, hurry, desire, and trust. If you don’t land a sale, you have not successfully overcome one of these common concerns.
Can your ad sales team effectively counter each of these sales objections? Great comebacks won’t win them all, but refined lead generation and qualification can filter out the best ad sales prospects and increase results for your efforts.
Know your ideal client and tailor responses and marketing to them. Here are some strategy suggestions for overcoming basic sales objections:
Need: When money is tight, …
As ad sales professionals we tend to have a love/hate relationship with discounts. Certainly discounting is an effective sales method. It is an easy way to boost sales volume quickly. It is a great way to garner interest or motivate a buyer to at least try your product. Inversely, it is also a quick way to cut into profits or commission margin. Like any other marketing or sales technique, discounting should be done with a strategy that keeps ROI in mind. Here are some discounting dos and don’ts:
Discount Often: Customers will be less willing to pay regular prices if they know …
It happens to the best of us. Few things are scarier for an ad sales rep than being caught totally unprepared for your ad sales presentations. Perhaps you forgot your laptop in the car that is at the shop being repaired this week, grabbed the wrong presentation materials rushing out the door, or you happen upon a great lead on the train ride home. These incidents don’t have to thwart your chances for getting the sale. In fact, played correctly, this can show your potential client-to-be how well you work under pressure. Your smartphone or tablet armed with the right …
AdBoom Advertising's services include ad sales management, training, and recruitment. Companies often come to us with interest in our training but concerns about the obstacles standing in the way.
Below, we've outlined some of the challenges to training an in-house advertising sales rep. We've also outlined ways that we help clients overcome them. Read on, and then get in touch to see how we can support your work.
"Taking our team out of the field or off the phone will cost us sales."
AdBoom Advertising's training rarely lasts more than a few days. Likely, the investment of time now will yield dividends with …
AdBoom is an advertising sales agency. When we're pitching opportunities to prospects on behalf of clients, we prefer to be in person. This isn't always possible due to circumstances or budget, however.
As a result, we've developed different resources to connect effectively with prospects even when we're not in the same room. A big part of our work selling advertising remotely is video conference software.
AdBoom uses video conference tools for product demonstrations, tutorials, sales presentations, and remote meetings with team members and clients. Whether the other party is across the country or across the world, we can manage an effective ad sales …
Fathers teach us a lot as we grow up. We've found that the same life lessons we learn from Dad can actually be quite useful when it comes to our work as an ad seller.
Look out for the best interest of our clients and advertisers. We think it's essential to consider the real value that we are creating. In a previous post ("Is Your Advertising Representative Thinking Long-Term?"), we talked about thinking strategically and not just transactionally. Just like Dad looked out for us, we think it's our responsibility to look beyond the short-term win.
Pay attention to what clients need. Time, attention, …
During an early season episode of Mad Men, John Slattery’s character, Roger Sterling, offered this advice about business: "I don’t know if anybody’s ever told you that half the time, this business comes down to 'I don’t like that guy.'" The same wisdom applies to your advertising representative's approach to prospective ad sales.
Part of AdBoom Advertising's work in advertising sales representation is to show why your ad products have greater value and offer greater opportunity. Often, however, the differentiating factor that helps companies sell ads better is the relationship between the advertising representative and the prospects. Top-performing salespeople understand the difference between …
AdBoom Advertising can utilize your in-house database of leads to sell ads for your publications. We add this resource to the other systems in which we've invested: up-to-date competitive intelligence, prospecting data, decision-makers for advertising agencies and businesses, and more.
Whether we are maintaining your systems or you continue to oversee them, these databases can become divas. They need attention, care, and upkeep because…
Contacts change. People leave their jobs, companies move locations, and businesses shut their doors.
Systems fall out of date. Software requirements may call for security upgrades or patches.
Internal processes change. The information you decide to track and the people who become …