Gaining magazine sales advantage through data
In the current advertising landscape, the journey from marketer to consumer is evermore complex with evermore choices, Rich said. A recent Goldman Sachs survey, suggested publishers who recycle or have undifferentiated content will struggle, whereas those with premium content, native advertising and partnerships will do well.
People will always want to hear a great story well told, Rich said. “People will always gravitate to outstanding content, whether that’s cave paintings or up-to-date digital stories.”
More and more, if you are building long term brand equity, Millward Brown suggest that print is more successful than TV or online in driving increases in persuasion metrics. According to Time Inc.’s data, magazine ROI ranges from 4.0x to 17.0 x (sales lift to ad spend).
“We have a growing concern about programmatic, about the use and planning, but we need a new way of selling that story,” Rich said. “We must become trusted sales advisors. The new sales person has a very distinct insight.”
The solution sale would take 11 per cent longer than traditional sales methods, but over time would generate greater efficiency and effectiveness, Rich said.
Going forward, ad sales operations must provide insight-led value, who are able to marry print, experiential, digital and sales together. “Sales roles must evolve for solutions,” he said. “To bring the right solution at the right time.”
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