Selling A National Regional Magazine Network


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Selling A National Regional Magazine Network

  1. 1. Selling: Best Practices SEA 2009
  2. 2. Consider this brand and the variety and value it brings to its customers. <ul><li>What does publishing magazines and Internet content have to do with Starbucks? </li></ul>Starbucks sells a commodity product, at premium prices ; that is what we want to do. Starbucks illustrates the potential of great vision to build a business and to insulate you against price competition.
  3. 3. <ul><li>“ We’re not in the coffee business serving people, we’re in the people business serving coffee.” </li></ul>
  4. 4. What business are we in? <ul><li>You are no longer in the magazine business selling advertising, you are in the media business selling magazine ad pages and…online...and any other content related product or service your coop is creating. </li></ul>
  5. 5. They started with a strong sense of mission that continues And that is why people READ your magazines.
  6. 6. What business are we in? <ul><li>Day-to-day happenings often hinder our ability to see the big picture resulting in missed opportunities to increase or win business </li></ul><ul><li>Step back </li></ul><ul><ul><li>What we are dealing with? </li></ul></ul><ul><ul><li>What opportunities exist to modify or redirect our actions to gain more business? </li></ul></ul>
  7. 7. YOUR MEDIA BRAND [statewide, regional & national] <ul><li>Not a logo; not a name </li></ul><ul><li>Perception in the minds of </li></ul><ul><li>your readers </li></ul><ul><li>your advertiser decision-makers </li></ul><ul><ul><li>Clients </li></ul></ul><ul><ul><li>Agencies </li></ul></ul>
  8. 8. Your brand is a recognized value proposition <ul><li>For readers: </li></ul><ul><li>“ Worthwhile ” </li></ul><ul><li>Time-saver </li></ul><ul><li>Relevant </li></ul><ul><li>Useful & interesting </li></ul><ul><li>Informative & insightful </li></ul><ul><li>Solution provider </li></ul><ul><li>Authoritative & credible </li></ul><ul><li>A community to belong to </li></ul><ul><li>Accessible </li></ul><ul><ul><li>how & when I want it </li></ul></ul><ul><li>For marketers : </li></ul><ul><li>“ Worth the money” </li></ul><ul><li>Has relationship with my customers, prospects </li></ul><ul><li>Is a known & respected brand </li></ul><ul><li>Can change readers’ minds; cause actions </li></ul><ul><li>Effective & efficient </li></ul><ul><li>Good/fair business partner </li></ul><ul><li>Wants to help me </li></ul><ul><li>Delivers as promised </li></ul><ul><li>Single source for range of marketing solutions </li></ul>
  9. 9. Brand asset – real value <ul><li>Opens doors (and minds) </li></ul><ul><li>Puts you on an advertiser’s short list – ‘must’ </li></ul><ul><li>Protects your market share when advertising is reduced. </li></ul><ul><li>Strengthens your negotiating power </li></ul><ul><ul><li>Your publication is not a commodity. </li></ul></ul>
  10. 10. Advertising sales in the extended brand media world <ul><li>Regional and national can be viewed as online…an up-sell opportunity, leveraging brand trust. </li></ul><ul><li>Regional and national [again, like online] ads build reach, frequency. </li></ul><ul><li>The National Country Market network leverages unique content and an unduplicated audience. </li></ul>
  11. 11. What distinguishes companies that SELL successfully? <ul><li>Forward-thinking strategy </li></ul><ul><li>Commitment to proven best practices. </li></ul>
  12. 12. Best Practices for Advertising Sales: Internal <ul><li>Create and maintain a consensus that advertising content is valuable to the reader and to the organization [assuming appropriate advertising categories and companies are solicited and sold]. </li></ul><ul><li>Create advertising policies/guidelines that are appropriate for the market served. Maintain consistency while enforcing the policies/guidelines. </li></ul><ul><li>Set viable expectations for sales and then apply adequate resources to meeting goals. </li></ul>
  13. 13. Best Practices for Advertising Sales: External <ul><li>Have a game plan. </li></ul><ul><ul><li>What categories belong in the magazine [statewide/regional/national] and what are specific companies to prospect for each of the categories? </li></ul></ul><ul><ul><li>Take risks – try to bring in new categories </li></ul></ul>
  14. 14. Best Practices for Advertising Sales: External <ul><li>Use a consultative sales approach: probe and listen </li></ul><ul><ul><li>Discover – engage and prospect beyond traditional boundaries </li></ul></ul><ul><ul><li>Diagnose – consensus on your advertiser’s challenge and objective </li></ul></ul><ul><ul><li>Design – collaborative understanding and creation of solution </li></ul></ul><ul><ul><li>Deliver – implement and measure the advertiser’s return on investment </li></ul></ul>
  15. 15. Best Practices for Advertising Sales: External <ul><li>Create a hypothesis with each advertising prospect/customer about how they can sell more product or services </li></ul><ul><li>Understand and be able to communicate the dynamics of your brand to your clients, i.e. competitive factors, trends, best practices </li></ul>
  16. 16. Best Practices for Advertising Sales: External <ul><li>Be aware of what media or combination of media works best for specific client objectives so they can leverage their ad spend [print/online…statewide/regional/national] </li></ul><ul><li>Understand how ads and campaigns are being evaluated by the client (success) is critical </li></ul>
  17. 17. Best Practices for Advertising Sales: External <ul><li>Collect market research for readers and advertisers </li></ul><ul><li>Set rates according to market opportunity and inventory (try to work away from a value added approach to print when selling online) </li></ul><ul><ul><li>Stay on rate card. Price is often viewed as an indication of quality; offering deep discounts can affect your brand image over the long run. </li></ul></ul>
  18. 18. Best Practices for Advertising Sales: External <ul><li>Create and use media promotion materials that define positioning of brand, audience, stats, pricing, ad programs and integrated options </li></ul><ul><ul><li>Always provide context. For statements made think: as compared to what? </li></ul></ul>
  19. 19. Think like advertisers; they want to reach all of their market, which is your market. Your issue readership Your market size. Know and trust your brand Your annual readership Your circulation Your Web site
  20. 20. And the National/Regional network gives you the chance to reach a much larger part of your market with regularity for advertisers.
  21. 21. Summary Page  <ul><li>Opens doors </li></ul><ul><li>Protects market share </li></ul><ul><li>Strengthens negotiating power </li></ul>A Strong Brand <ul><li>Are built on forward thinking </li></ul><ul><li>Follow best practices </li></ul><ul><li>Involve taking some risks </li></ul>Successful Sales <ul><li>Leverage state brand and successful selling to sell more regional & national </li></ul><ul><li>Step up the committment and partnership with NCM </li></ul><ul><li>Common content – one page per pub per issue </li></ul><ul><li>Bring advertising into the awards program </li></ul>Selling Regional & National Increasing sales for your publication by…
  22. 22. ? Questions? ? ?
  23. 23. 607 Greenwich Street Falls Church, VA 22046 703.536.2635 [email_address]