What’s the state of Television Media Sales? AdMall‘s eighth annual white paper on the subject is out, and it finds that the state of the industry is good year over year. But, there’s a lot of room for improvement.
How so? More than 3 in 4 managers say their sales team’s results were up in 2017, while 44% failed to meet their sales goal in 2017.
As the media landscape becomes increasingly fractured and segmented, television media executives, TV sales managers and sales reps are facing similar obstacles.
AdMall’s survey offers insights from respondents that show revenue will likely grow despite the challenges.
When AdMall polled 478 television media executive managers, sales managers and sales reps from March 10 to April 8, 2018, responses were positive in forecasting overall revenue growth for 2018 and acknowledging that it is getting easier to sell digital.
The State of Media Sales reveals six challenges and opportunities as a battle guide to achieving success in 2018.
The biggest revenue increases are expected to be from local-direct small businesses. Other growth opportunities are expected in native advertising, programmatic /
self-buys, agency buys, event sponsorships, and co-op promotions / non-traditional revenue.
Less growth is anticipated from national brands and major accounts.
Respondents expect most sales growth to come from the following local industries: political, health care (non-pharma), local business services, recruiting, automotive, education, banking / investments, and real estate.
Perhaps the biggest challenge, as presented by AdMall, is the hiring and retention of quality salespeople.
“TV sales managers and executives are finding it harder to hire quality salespeople,” the study reads. “This becomes an even bigger problem when managers report turning over nearly 20% of their staff in one year. One likely contributor to this issue is lack of training or professional development.”
- Nearly 79% are finding it harder to hire quality salespeople
- Managers report turning over nearly 20% of their staff last year
What’s the opportunity? “Devise and implement a formal on-boarding process,” AdMall suggests. “Better training can mold new hires into ideal sales reps. And, don’t forget about ongoing training – even for seasoned sales reps. Professional development will help retain the good talent you do find. Managers must also be mindful of company culture, improving it to create a place where people want to work.”
AdMall also offers suggestions on growing and retaining accounts, finding time to coach and mentor sales associates, finding AEs the proper time to sell, and discovery how “easy” it is to sell digital.