The April 2015 edition of Media Sales Monthly looks at the 2015 State of Media Sales, optimization for your banner ads, and mistakes in sales negotiations.
Hello there, and WELCOME to the April 2015 edition of Media SALES Monthly.
In December and January, Media Sales Today polled 305 media sales MANAGERS and EXECUTIVE managers to get their input on the State of Media sales for 2015. The 6th annual study finds that although most sales teams generated more sales in 2014 than in 2013, 46% came up SHORT in meeting their annual sales GOALS. In spite of this, responses were positive in forecasting overall revenue GROWTH for 2015 as well as foreseeing growth in DIGITAL advertising – SPECIFICALLY, 50% forecast revenue GROWTH of 6% or MORE in 2015.
The BIGGEST revenue increases are expected to be from local-DIRECT small businesses. Other growth opportunities are expected in AGENCY buys, EVENT sponsorships, PROMOTIONS and non-TRADITIONAL revenue. LESS growth is anticipated from MAJOR accounts and NATIONAL brands. Respondents expect most sales growth to come from the automotive, health care, real estate, recruitment and employment, retail, and restaurant industries.
You can download the full white paper at Media Sales Today under the “features” tab.
[SEGMENT 2: SELLING DIGITAL]
You talk to clients about WHEN and WHERE their banner ads should run. But have you advised them on the CONTENT and COLOR of their ads? Well doing so could drastically improve RESULTS, according to a new Rocket Fuel study.
Researchers measured a 31% higher conversion rate for ads with a RED background. ORANGE was 2nd and yellow, 3rd. And ANIMATED banner ads drive a 7% increase in conversion rates for most verticals. But keep in MIND the OPTIMAL LENGTH of an animation cycle is 6-9 seconds. LONGER ones can turn consumers OFF.
Regarding human FACES, the biggest increases in conversion rates are linked to showing a MAN’S face. A WOMAN’S face drives a 25% increase – while showing BOTH men and women is linked to a 15% DROP.
It might be a NO-BRAINER, but be sure to include the LOGO and/or PRODUCT in the ad. Conversion rates can be 5% higher, especially when it’s placed in the LOWER LEFT corner of the ad.
Share these design tips with CLIENTS to ensure banner ads placed in your media are more EFFECTIVE.
[SEGMENT 3: SALES TIP]
You’ve FINALLY done it. Your client is ready to sign the CONTRACT. But you still have to NEGOTIATE. Norm Brodsky, writing for Inc. Magazine, points out that the way you handle THIS part of the interaction is MORE important than anything you’ve done so FAR. You might assume you know EXACTLY what the client’s worried about. After all, you’ve probably MET with her and answered the many QUESTIONS she had while pitching her. But Brodsky cautions against making any ASSUMPTIONS and encourages you to LISTEN CLOSELY to what the client’s telling you NOW.
Just like CLIENTS, SALES reps have expectations too. You’ve invested TIME in this relationship and are eager to WRAP it up. But DON’T think about yourself. The BEST strategy, is to “shut up and LISTEN.” Get the CLIENT to start talking. Pay attention to the specific CONCERNS he or she is voicing. That puts you in the DRIVER’S seat. Once you KNOW the biggest CONCERNS, then you can decide which CONCESSIONS will result in the biggest success for YOU while still keeping the CLIENT happy.
That’s it for THIS edition of Media Sales Monthly… I’m Doug Lessells.
Written and directed by Beth Frederick