The Right-Brain 'Art' of Sales vs. the Left-Brain 'Analytic' – Musings on Media from the 'Sell' Side, with Occasional Forays into Music…and Wine
High-Traffic / Low-CPM = Massive Sales Oppt’y
While at the recent Social Media firm that I headed the Autos sales effort for, we experienced something very similar to what is outlined in the title of this post: we had huge traffic, and pretty low CPM’s as we were launching. Our CPM’s were coming in under initial projections, partly due to the cliff-drop of both the economy…and Auto sales with it. That and the fact that Social Media had [and still has] a lot of skeptics. Since ours was really a ‘derived’ set of assets based on the main players, the effort we pursued needed re-doubling with that in mind, as well.
Some great new data from eMarketer outlines the conundrum very well.
But what we also saw, is what is outlined in this 10/9 piece from the Center for Media Research, linked here, which was showing that pretty high Engagment rates and Time Spent figures were starting to emerge.
So, with so much being written [everywhere] about Social Media, successful uses of the medium starting to be realized, and more importantly, the knowledge of these successes starting to filter ‘out there’ into the marketplace, why do I say that this is a massive sales oppt’y, and how do we on the Sales side then proceed?
While we will always want to provide good [or great] value to our important clients, the disconnect between these elements is quite large. This means that it is likely that of these variables, it is indeed CPMs that will rise first.
On the Sales side, some ways to address this issue, make sure you are capturing these added revenues, and keeping your clients happy are:
~De-emphasize the ‘Billions’ of Impressions/Page Views that your site/destination/property/ network has. It instantly cheapens your offering in the eyes of your Agency/Client, not to mention having their eyes glaze over. [The same thing applies if your VP/CRO insists that you spend 45 min’s presenting every nook & cranny about your Web entity. While self-serving, it gets you nowhere. Don’t allow this if you can. And if you are a VP/CRO, don’t expect this of your team.]
~Along these lines, try to understand what your client might want, and narrow down a few Custom suggestions for them, not only to add focus to your meeting, but may end up as thought-starters. Always a good thing.
~Build up your ‘Tie-In’ to the metrics above; i.e. Engagement, Time Spent, Demographics, and others. This should help them perceive your value, and want to buy, as your CPMs migrate on an upward path.
This just touches on the subject. There will always be more to discuss on this topic…!