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Alexander Group Media Sales eBook
 

Alexander Group Media Sales eBook

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Digital media’s continued rise demands the attention and understanding of media sales leaders in order to drive value-based sales strategies.

Digital media’s continued rise demands the attention and understanding of media sales leaders in order to drive value-based sales strategies.

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    Alexander Group Media Sales eBook Alexander Group Media Sales eBook Presentation Transcript

    • Atlanta | Chicago | San Francisco | Scottsdale | Stamford An Alexander Group eBookMedia Advertising SalesTransforming Your Sales Model to the NewRealitiesThis eBook is an excerpt from a comprehensive Media Advertising Industry Briefingprepared by the Alexander Group for Media Sales ExecutivesIf you would like more details, we invite you to schedule a full briefing. Learn more.
    • © 2013 The Alexander Group, Inc.® 2A New Role for Media SalesThe media industry ischanging faster than a6-second video♦ Advertising clients demandgreater ROI♦ Publishers seek greater shareof ad spendAGI explores how to create agile coverage and incentivemodels that add value for customers while growing salesAdding new productswithout killing profit?Role of productspecialists?Leveraging inside salesteams?Digital’s increasing importance can not beunderestimated by media sales leaders implementingclient-centric, value-based sales strategies
    • © 2013 The Alexander Group, Inc.® 3Advertising Changes Over the YearsNew technology in the early years was few and far between19th Century• Direct marketing• Local ads in localpapers• Billboards and signsEarly 20th CenturyRise of Consumerism• National advertisers• Mass circulation magazines• Radio broadcasting• Motion pictures1941• First television ad1950s• Product focused• Spokespersons• ProductdemonstrationsRise of Consumerism Mad Men Era1960s• Creative revolution
    • © 2013 The Alexander Group, Inc.® 4Advertising Changes Over the YearsThe rate of change increased dramatically in the last 30 years1970s• Product positioning,e.g., Cola Wars1981• MTV Launches1980s• Infomercials & homeshopping networks• Cable TV• Remote Control,VCRDigital EraConsolidation1990s• Integrated marketingcommunication• Internet advertising(banner ads)21st Century• Internet, digitaltelevision, mobilecommunications• Social media
    • © 2013 The Alexander Group, Inc.® 5Industry Trends Impacting Sales ModelsThe Digital ImperativeEvolution to Integrated MediaProduct InnovationSelling New Products to Existing CustomersProliferation of Media Consumption Platforms– More CompetitionValue Chain EvolutionWho Creates Value?
    • © 2013 The Alexander Group, Inc.® 6Sales Go-to-Market ChallengesDetermining Who Creates Value31 Customer-Centric Sales TacticsThe Demand for ROIWhen to Use Specialists42 Targeting & the Coverage Agility Model5 Compensation
    • © 2013 The Alexander Group, Inc.® 7Transforming to a Customer-Centric Sales Approach1Companies must understand each customers’ needs andalign a solution to fit.Successful execution involvesseveral key challenges – andmanagement orchestrationDigital ad sales buyers want not just options, but tailored solutionsImportant for sales reps tofocus on their needs but…De-emphasis on repssimply providing ideas,options, and support
    • © 2013 The Alexander Group, Inc.® 8New Products Continue To Be Introduced, Driving Sales CoverageProduct Life Cycle & Coverage ConsiderationsWhat is theproduct visionas its salesdecline?How are newproductsintegrated inrep’s portfolio?When does anew productbecome a coreproduct?Coverage Model Implications• Product Specialists• Lead Generator• Field Sales Rep• Inside Sales Rep• Customer Service• E-channel2
    • © 2013 The Alexander Group, Inc.® 9Determining Who Creates ValueIntegrated MediaNamed and TerritoryAccount ExecutivesAccount Coordinator /AssistantInside SalesPure Play Digital MediaNamed AccountExecutivesAccount ManagerOptimizationLarger Companies with Broader Portfolios Use More SpecialistRoles (e.g., Product, Category, Strategist, etc.)Used to increase productivity ina variety of ways from LeadGen, Co-Selling with Field,and End-to-End Selling Inside SalesPredominately leveragedfor End-to-End SellingSpecialistsSource: AGI 2012 Media Advertising Sales Study3Roles vary across different types of Media companies
    • © 2013 The Alexander Group, Inc.® 10Determining Who Creates ValueSkill Set Deliver game-changing consumer insights to identifyand create opportunities for strategic client partnerships Inspire strategic thinking & consumer understandingacross the brand portfolio that leads to change or newcourses of action (resulting in higher performance) Create influential ideas & insights that are a catalyst forbreakthrough thinking & outcomes across brand portfolio Develop a reputation for fact-based initiatives / ideas /insights that align with the client brand value driversacross the brand portfolio3The Rep of the future:
    • © 2013 The Alexander Group, Inc.® 11NoUnrelatedYesYesWhen to Use SpecialistsDo reps call the same point of contact?Does selling the focused product requireknowledge beyond the rep’s capacity?Are products sold unrelated or related?Is the sale of this product / solution acritical concern of management?YesRelatedNoNoDo not specializeUseSpecialistsCreate aDiscreteSales Force4Companies with Broad Portfolios Wrestle with Coverage
    • © 2013 The Alexander Group, Inc.® 12Key Compensation Issues• Challenge keeping plans up to date withever-changing marketplace and strategies• Too reliant on legacy product-basedcommission mechanics to drive client centricsales tactics• Lack of sufficient focus on new products• Challenge aligning plan costs to new offering costs (e.g., digital, network)Integrated Media Pure Play Digital Media5
    • © 2013 The Alexander Group, Inc.® 13How Can Sales Media Executives Adapt Efficiently and Effectively?The Alexander Group provides executives at Media companies withactionable data, insights and solutions to upgrade their sales strategies.Sales Analytics and Benchmarks: How do you compare to industry andbest practice benchmarks for cost, productivity, and compensation?Sales Coverage: What sales roles are Media Advertising Sales companiesdeploying against different customer types?Sales Productivity: What are the most profitable sales channels? Whereare the key areas of investment in the industry? What are the big gaps insales force execution?Sales Compensation: What are the trends in pay practices andcompensation strategy? Do your plans align with your sales strategy andincentive design best practices?
    • © 2013 The Alexander Group, Inc.® 14Want to Know More?Schedule a full briefing today to learnmore details about the AlexanderGroup Media ViewPoint BriefingRachel Parrinello is the Sales Compensation Practice Director in the SanFrancisco office managing the western region and overseeing the Firm’s salescompensation benchmarking initiatives. Rachel focuses on designing incentivecompensation plans, quota programs, and sales reward programs for sales,customer service, and professional services jobs across several key industries.Matt Bartels is a Principal in the Alexander Group’s Chicago office and a leader inthe firms Media and Advertising verticals. Matt has a proven record of workingwith clients to develop actionable growth oriented strategies around salessegmentation, go-to-market solutions and productivity enhancements. In addition,Matt has expertise in global and domestic compensation design.