The media sales industry faces a significant challenge: securing quality appointments with prospects ready to do business.
Media salespeople excel when engaging with prospects, identifying needs, and selling solutions, but the current system forces them to spend excessive time cold calling. This inefficiency leads to only one or two quality appointments a week, hindering even the most talented sellers from achieving better results.
The process needs a fundamental change to improve outcomes.
The Evolution of Media Sales: From Jack-of-All-Trades to Strategic Specialists
Historically, media salespeople have been responsible for every step of the sales process:
- Finding prospects
- Securing appointments
- Identifying needs
- Solving problems
- Selling solutions
This expectation for a single person to master all aspects of the sales cycle is neither efficient nor effective. It prevents sales professionals from developing expertise and leads to frustration as they spend countless hours cold calling, hoping to land an appointment, only to meet with uninterested prospects.
Currently, media sales operations focus primarily on the end result: total billing. Managers often measure outputs like the number of proposals generated, the total amount pending, the closing ratio, and the size of the ask.
While some managers try to monitor weekly activity by counting the number of appointments, this approach only perpetuates the cycle of frustration. More time spent cold calling means less time selling, which is counterproductive.
Given the current state of the business, where all Account Executives (AEs) are expected to handle both transactional and new business development, the solution lies in spending time smarter. Media salespeople should focus on:
Super-Serving Key Accounts
Top-tier clients represent the most significant portion of revenue and potential for growth. By super-serving these key accounts, salespeople can deepen relationships, better understand client needs, and deliver more customized and effective solutions.
This involves regular check-ins, proactive problem-solving, and tailored strategies to help these clients achieve their business goals. Salespeople can ensure long-term loyalty and sustained revenue by investing time and resources into these relationships.
Reducing Time with Secondary Accounts
Not all accounts contribute equally to the bottom line. By strategically reducing the time spent on secondary accounts that offer minimal growth potential or revenue, salespeople can reallocate their efforts to more fruitful endeavors.
This does not mean neglecting these accounts entirely but managing them efficiently with less frequent touchpoints and more streamlined processes. Automation and digital tools can assist in maintaining these relationships without extensive time investment.
Targeted Prospecting
Prospecting should be a strategic and thoughtful process. By focusing on select categories where salespeople have a genuine interest and passion, they are more likely to engage meaningfully with prospects.
Additionally, looking at areas where others in the industry have found success can provide valuable insights and increase the likelihood of positive outcomes.
Finally, targeting prospects that align well with the media company’s core consumer base ensures that the solutions offered are relevant and effective, increasing the chances of a successful partnership.
- Passion for Prospects' Businesses: When salespeople are genuinely interested in the industries they are targeting, their enthusiasm and knowledge can be compelling to potential clients. This passion translates into more authentic and persuasive interactions.
- Success in the Category: Learning from successful case studies and benchmarks within specific categories allows salespeople to adopt best practices and proven strategies. This not only boosts confidence but also provides credible evidence to prospects of what is possible.
- Fit with Core Consumers: Identifying prospects that resonate with the media company's audience ensures that advertising efforts are more likely to yield results. This alignment between the prospect's offerings and the media's audience enhances the relevance and appeal of proposed solutions.
Leveraging Technology and Data
In addition to these strategic focuses, leveraging technology and data analytics can significantly enhance the efficiency and effectiveness of media sales efforts.
CRM systems, marketing automation tools, and data analytics platforms can help salespeople track interactions, identify patterns, and optimize their strategies.
By utilizing these tools, salespeople can make informed decisions, prioritize high-potential leads, and personalize their approach to each prospect.
Continuous Learning and Adaptation
The media landscape is constantly evolving, and so should the skills and knowledge of media salespeople. Continuous learning through training programs, industry conferences, and professional development opportunities is crucial.
Staying updated on the latest trends, tools, and techniques ensures that salespeople can adapt to changes and maintain a competitive edge.
Conclusion
Media salespeople can work more efficiently and effectively by focusing on super-serving key accounts, reducing time with secondary accounts, and engaging in targeted prospecting.
This strategic approach allows them to leverage their strengths, develop deeper expertise, and achieve better sales outcomes.
Additionally, embracing technology and committing to continuous learning will enhance their capabilities and ensure long-term success in the ever-changing media sales landscape.
