I've worked in media for over 20 years and it doesn't cease to amaze me how some media channels haven't changed in their approach to creating value when at times there is no or little value. When you are buying advertising here are some red flags to watch out for:
1) The media rep says we are so busy and running into sold out inventory but we still have some avails.
This is a common tactic. Albeit there will be times when a radio, tv station or billboard is in a sold out situation. However this is not the case all the time especially not when you happen to show interest in a buy or request a proposal. When I worked in radio as a sales rep we had 2 inventory structures. The sales managers inventory to the team and the REAL inventory. A sales manager would say to the team we are 95% sold out when in reality we would be 50-70% sold out... real estate development housing works in the same way....you'll see a sign which says a 70% sold out display on the lawn....sometimes that sign doesn't change for over a year. When a media says they are in a close to sold out situation it could be they want you to move quickly to avoid disappointment....if you ever come across this statement that "We are close to sold out" or "Ou inventory is filling up fast" you should think twice. First off do you want to be on a station where the commercial islands are just jammed packed with other sponsors and your message gets lost?? Secondly, by walking away you are sending a message that you do not buy under these conditions. When a media creates a false sense of inventory they have a self justified right to increase rates. It's a false value created by a false demand. As an agency we know there is always a way to negotiate a better rate or more efficient schedule for the same investment. There is always an alternative to the main streams to deliver highly effective cost per thousands without falling into the trap of tactics. If the station is still a good fit for your business and the investment is in line with your ROI and the CPM or CPP is in line then start your branding campaign at a timeline when there is no price pressure. Wait til the price is right. If your campaign is based on urgency or a sale you may have no other option than to but pay the piper.
2) A media may sell a sponsorship with an exorbitant value attached to the promotion or sponsorship.....you'll be apprised you can have it for a fraction of the cost. Decide with caution and don't fall into this pressure trap either. Radio, TV stations will typically run a promotion using their promotional or programming inventory. At times there may be an opportunity for clients to piggy back as a sponsor or to "own" the promotion. A station will place a value up to 2 to 3 times of there promotional inventory based on their top rate card price for a commercial...eg. If a 30 second commercial spot is sold at top rate card for $100, the station will place a value of $250 on their promotional occasion...
Within this promotional spot as a business you may receive a name mention or a tag line.....in no way is it worth a $250 value based on this case scenario. So a tv or radio station will offer a client a category exclusive sponsorhip for "XX" amount of dollars based on the promo value. If the media is providing this promotion in exchange for product for prizing then it could be worth it depending on the exposure....each opportunity needs to be assessed on an individual basis based on awareness ROI. Don't pay for a promotion until you consult with an unbiased party such as an advertising agency to determine the true ROI value. The amount you invest in whether it be cash or product investment (cash) may be better invested in a regular airtime schedule with that media or in another media.
3) We are the number 1 station with seniors who love to ride bikes on a Tuesday while eating hot dogs. Ok..so you get my point. Every media is number 1 in something. You have to carefully compare apples to apples when considering where to place your ad dollars. An experienced agency has the knowledge and expertise to analyze media schedules based on target demographic, location, reach, frequency while dovetailing your specific creative and marketing objectives.
4)Selling you more or not enough for an efficient campaign. There are sales reps which will sell you too much and reps who won't sell you enough. Buying and selling media is an art form. It's a delicate process of understanding weighing a number of variables from budget, audience, reach, frequency and of course the message. If one of these are out of kilter it could mean a waste of time and money.
Media can create awareness and drive calls and traffic to your website
or retail location...just remember it can't close the business...that's
what your business and your people are supposed to do. Contrarily, I have worked with clients who said they "Tried" a certain media and had no success. No response. Once I dig a little deeper I eventually find out what the real issue was. Sometimes the campaign works and the client's phone rings but the business has poor front lines, or there is a customer service issue or no one is there to answer the phone...or sometimes it's the schedule where the rep didn't give them enough frequency or the campaign ran short. Sometimes it's the creative. Creative needs to be compelling creating an emotive response....remember it's not always about price as we know...customers do not always pay based on price they pay based on convergent factors where emotion meets logic...when your business has solved a problem for the consumer or has created an emotively empathetic response which at times is priceless.
Tuesday, September 6, 2016
Media SellingTactics and Startegies You Should Know
I've worked in media for over 20 years and it doesn't cease to amaze me how some media channels haven't changed in their approach to creating value when at times when there is no or little value. When you are buying advertising here are some red flags to watch out for:
1) The media rep says we are so busy and running into sold out inventory but we still have some avails.
This is one of the most common tactics. Albeit there may me times when a radio, tv station or billboard is in a sold out situation but not all the time and not when you happen to show interest in a buy or request a proposal. When I worked in radio as a sales rep we had to inventory structures. The sales managers inventory to the team and the REAL inventory. A sales manager would say to the team we are 95% sold out when in reality we would be 50-70% sold out... real estate development housing works in the same way....you'll see a sign which says 70% sold out display on the lawn....for a few years. On another note when a media says they are in a sold out situation it is an obvious mention for you to move quickly to avoid disappointment....if you ever come across this statement that "We are close to sold out" you should walk away. First off do you want to be on a radio station where the commercial islands of just jammed packed with other sponsors and your message gets lost?? Secondly, by walking away you are conditioning the media rep that you do not buy in these conditions. When a media creates a false sense of inventory they have a self justified right to increase rates. A false value created by a false demand. As an agency we know there is always a way to negotiate a better rate and that there is always an alternative to the main streams to deliver highly effective cost per thousands without falling into the trap of tactics. If the station is still a good fit for a client and the investment is in line with your ROI and the CPM or CPP is in line then start your campaign at a timeline when there is no price pressure. Wait til the price is right.
2) A media may sell a sponsorship with an exorbitant value attached to the promotion or sponsorship.....but wait you can have it for a fraction of the cost. Don't fall into this trap either. Radio, TV stations will typically run a promotion using their promotional or programming inventory. At times there may be an opportunity for clients to piggy back as a sponsor or to "own" the promotion. A station will place a value up to 2 to 3 times of there promotional inventory based on their top rate card price for a commercial...eg. If a 30 second commercial spot is sold at top rate card for $100, the station will place a value of $250 on their promotional occasion...
Within this promotional spot as a business you may receive a name mention or a tag line.....in no way is it worth a $250 value based on this case scenario. So a tv or radio station will offer a client a category exclusive sponsorhip for "XX" amount of dollars based on the promo value. If the media is providing this promotion in exchange for product for prizing then it could be worth it depending on the exposure....each opportunity needs to be assessed on an individual basis based on awareness ROI. Don't pay for a promotion until you consult with an unbiased party such as an advertising agency to determine the true ROI value. The amount you invest in whether it be cash or product investment (cash) may be better invested in a regular campaign or in another media.
3) We are the number 1 station with seniors who love to ride bikes on a Tuesday while eating hot dogs. Ok..so you get my point. Every media is number 1 in something. You have to carefully compare apples to apples when considering where to place your ad dollars. An experienced agency has the knowledge and expertise to analyze media schedules based on target demographic, location, reach, frequency while dovetailing your specific creative and marketing objectives.
4)Selling you more or not enough for an efficient campaign. There are sales reps which will sell you too much and reps who won't sell you enough. Buying and selling media is an art form. It's a delicate process of understanding weighing a number of variables from budget, audience, reach, frequency and of course the message. If one of these are out of kilter it could mean a waste of time and money.
I have worked with clients who said they "Tried" a certain media and had no success. No response. Once I dig a little deeper I learn to find out what the real issue was. Sometimes the campaign works and the client's phone rings but the business has poor front lines, or there is a customer service issue...or sometimes it's the schedule where the rep didn't give them enough frequency or the campaign ran short. Sometimes it's the creative. Creative needs to be compelling creating an emotive response....remember it's not always about price as we know...customers do not always pay based on price they pay based on convergent factors where emotion meets logic...when your business has solved a problem for the consumer or has created an emotively empathetic response which at times is priceless.
1) The media rep says we are so busy and running into sold out inventory but we still have some avails.
This is one of the most common tactics. Albeit there may me times when a radio, tv station or billboard is in a sold out situation but not all the time and not when you happen to show interest in a buy or request a proposal. When I worked in radio as a sales rep we had to inventory structures. The sales managers inventory to the team and the REAL inventory. A sales manager would say to the team we are 95% sold out when in reality we would be 50-70% sold out... real estate development housing works in the same way....you'll see a sign which says 70% sold out display on the lawn....for a few years. On another note when a media says they are in a sold out situation it is an obvious mention for you to move quickly to avoid disappointment....if you ever come across this statement that "We are close to sold out" you should walk away. First off do you want to be on a radio station where the commercial islands of just jammed packed with other sponsors and your message gets lost?? Secondly, by walking away you are conditioning the media rep that you do not buy in these conditions. When a media creates a false sense of inventory they have a self justified right to increase rates. A false value created by a false demand. As an agency we know there is always a way to negotiate a better rate and that there is always an alternative to the main streams to deliver highly effective cost per thousands without falling into the trap of tactics. If the station is still a good fit for a client and the investment is in line with your ROI and the CPM or CPP is in line then start your campaign at a timeline when there is no price pressure. Wait til the price is right.
2) A media may sell a sponsorship with an exorbitant value attached to the promotion or sponsorship.....but wait you can have it for a fraction of the cost. Don't fall into this trap either. Radio, TV stations will typically run a promotion using their promotional or programming inventory. At times there may be an opportunity for clients to piggy back as a sponsor or to "own" the promotion. A station will place a value up to 2 to 3 times of there promotional inventory based on their top rate card price for a commercial...eg. If a 30 second commercial spot is sold at top rate card for $100, the station will place a value of $250 on their promotional occasion...
Within this promotional spot as a business you may receive a name mention or a tag line.....in no way is it worth a $250 value based on this case scenario. So a tv or radio station will offer a client a category exclusive sponsorhip for "XX" amount of dollars based on the promo value. If the media is providing this promotion in exchange for product for prizing then it could be worth it depending on the exposure....each opportunity needs to be assessed on an individual basis based on awareness ROI. Don't pay for a promotion until you consult with an unbiased party such as an advertising agency to determine the true ROI value. The amount you invest in whether it be cash or product investment (cash) may be better invested in a regular campaign or in another media.
3) We are the number 1 station with seniors who love to ride bikes on a Tuesday while eating hot dogs. Ok..so you get my point. Every media is number 1 in something. You have to carefully compare apples to apples when considering where to place your ad dollars. An experienced agency has the knowledge and expertise to analyze media schedules based on target demographic, location, reach, frequency while dovetailing your specific creative and marketing objectives.
4)Selling you more or not enough for an efficient campaign. There are sales reps which will sell you too much and reps who won't sell you enough. Buying and selling media is an art form. It's a delicate process of understanding weighing a number of variables from budget, audience, reach, frequency and of course the message. If one of these are out of kilter it could mean a waste of time and money.
I have worked with clients who said they "Tried" a certain media and had no success. No response. Once I dig a little deeper I learn to find out what the real issue was. Sometimes the campaign works and the client's phone rings but the business has poor front lines, or there is a customer service issue...or sometimes it's the schedule where the rep didn't give them enough frequency or the campaign ran short. Sometimes it's the creative. Creative needs to be compelling creating an emotive response....remember it's not always about price as we know...customers do not always pay based on price they pay based on convergent factors where emotion meets logic...when your business has solved a problem for the consumer or has created an emotively empathetic response which at times is priceless.
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