Have you ever thought of building a wall of advertisers for your media company?
Several years ago I was running a media company, it had been in the community for over 30 years and had a fantastic reputation. The people that worked for it were passionate and wanted the media company to succeed.
Even though it was a successful business with excellent ratings the sales strategy was a shambles.
It did not have any direction, no sales systems, no tools to measure sales, no consistent advertiser sales promotions, nothing. Sadly sales people were leaving, it was not a fun place to work.
I was hired by a consultant with a clear directive: Grow sales. We all agreed at the beginning that we had to do something different, which was fun, but also had some real benefits for the media company.
We decided among other initiatives to set up a Wall of Success.
The first action we had to take was to monitor every other media company in the area, what we were wanting to do was to find out who all the advertisers that were not advertising on our media company.
We set about listening, watching and reading every advertising medium we could and collate a massive list of potential leads we could get our hands on. The local radio, TV and newspaper company were monitored over a one month period.
Once we had completed that task we went thorough the list of over 200 and settled on 100 clients we wanted to do business with. They all had to fit our audience and business profiles.
From that list we then selected 30-40 clients who did not advertise with us, put them through a detailed analysis to see if they were a good fit for us. Once we had done that we would aggressively market to them over the next 12 months.
Our goal was to have those clients advertising with us within 12 months; they would be either a long-term client, or be using us consistently to fit in with their advertising needs.
We then wrote every advertiser we had selected,on a large board in my sales office. Each time we got a client to air who was on our “wall of success” we celebrated with a bell ringing ritual and checked the client off the board. We made a point at the end of the working week to “celebrate with the sales people had achieved their goal of getting these clients to advertise.
It actually took us 15 months to get them all, but that one idea turned our business around.
* Create a top 40-50 clients who fit your profile of an ideal client
* Write them up on board
* Allocate them to members in your team
* Build sales strategies around the acquisition of those clients
* Set a time frame
* Celebrate every new success.