Advertising volume and revenue are the measures against which most publishers determine their degree of success. That makes identification, development and management of new sources of advertising revenue as well as the retention of existing sources one of publishing’s most important challenges.
Lexicon offers a rigorous, integrated approach to advertising sales management, including strategies to:
- Identify market changes and ways to keep in step with them
- Optimize the structure of your sales force
- Improve your publication’s effectiveness as an advertising vehicle
- Analyze rate card structures
- Translate facts and perceptions about your publication into advertiser benefits
- Identify prospects, judge how they should be approached, and determine which merchandising services they should be offered
By understanding your market and competition, as well as how advertisers and consumers make decisions, Lexicon gives you the power to maximize your demographic foundation and think beyond it – indeed, to tune in to your advertiser’s vision. By knowing how your advertisers differ, you can develop appropriate market options to meet their needs and value to their business.
We show you how to better understand your buyer’s motivations, business climate and positioning. You and your team will do more than “sell space”. You’ll offer solutions to marketing problems, opportunities to find new markets, develop alternate avenues of distribution, and create innovative promotions. By helping advertising prospects solve their marketing problems, they’ll become loyal customers.
As we work with you to expand the conceptual scope of your marketing program, we help form and respond to vital questions, the answers to which precede enhanced and consistent growth. They include:
- Where are your best prospects?
- Why do advertisers buy your competition?
- Can you achieve “prime buy” status for your publication?
- Can you leverage problems faced by the competition into added revenue?
- What gaps exist in your advertising targeting?
- How important is editorial content to your advertisers?
- What kind of response does your potential advertising community expect?
- How can you educate potential advertisers about your readers (their consumers)?
- What kind of “value added” enhancements interest potential advertisers?
Once these questions are answered, we can begin helping you develop the selling tools necessary to translate information into revenue, including:
- Media kits and rate cards
- Cover wraps, bind-in cards, and house ads
- Direct mail promotions to advertise and media buyers
- Space ads for advertising trade publications
- Merchandising programs
In addition, Lexicon can help you help your advertiser qualify leads and enhance their market targeting by creating value packages such as:
- Joint promotions
- Special issues, supplements, and sections
- Special distributions and event tie-ins, Advertorials
Once a knowledge base is established and the most appropriate sales tools are created, Lexicon will help you develop effective advertising management systems. We can help you find and implement solutions for sales performance tracking by publication and by sales reps, to allow for the most accurate budgeting and forecasting possible. Account management can be enhanced by creating high-incentive commission structures, and by providing reps with status reports and follow-up reminders.
The production process can also be integrated with ad management, thanks to computer-generated production rundowns, reader service automation, automatic generation of special manufacturing charges, and press imposition layouts to free up color in books with limited color pages. Lexicon can also help you implement the latest in dumping technologies, to help your managing editors and production coordinators cope with valuable late-closing ads.
Structure…segmentation…competitive analysis…marketing materials…value-added programs…ad systems…production integration: Lexicon has knowledge and experience from which your team can profit. Wherever enhanced advertising sales and management strategies are required, Lexicon can help you find your advantage.