In the current TV and radio ad sales environment, you’re under constant pressure to increase sales, without increasing the size of your sales team. You’re likely also feeling pressure from agencies and advertisers to lower prices and CPMs, while Wall Street continues to push for revenue growth. Seems impossible, right? The solution to this problem lies in both your sales team’s work day and how they spend their time.
Given that there are only so many hours in a day, do you know what percentage of your sales team’s time is actually spent selling? If you’re like most TV or radio companies, a significant amount of your sales team’s time is devoured by gathering data and going through inefficient internal approval processes. Why? Every minute your sales team spends consolidating data is another minute they’re not gaining valuable face-time in front of clients.
From translating client emails into avails, to understanding current pricing and available inventory, to finally, manually building a schedule that meets the needs of the advertiser. To top it all off, add in time-consuming and inconsistent evaluation and approval process before returning the initial response back to the client. All of this effort drastically eats away at what limited time they have in a day.
While all of this seems unavoidable, as it’s just the way it’s always been, it doesn’t have to be. What if your sales team could leverage one system for all of this information, and instantly have access to data – including Customer Relationship Management (CRM), inventory, pricing, ratings, and qualitative research data – all by entering in only the most basic information for a specific client?
What if this all-in-one application also utilized an advanced mathematical algorithm to instantaneously build optimized proposal schedules that meet – or even exceed – your advertisers’ requests, while simultaneously maximizing the remaining value of your inventory?
By moving your sales team from a reactive to a proactive world, you’re freeing up their time to do what they do best…Sell! In this new world, AEs have more face-time with clients to better understand their needs and strategies, and you’re happy because you’re now able to enforce better packaging to maximize the value of your prime inventory.
By switching to a proactive approach, we’ve seen results like these. For a local radio station group, 10-20% improvements in sales efficiency were seen after implementing a system such as this one. For a network broadcaster, a 4% revenue uplift in their prime inventory segments. That’s what happens when you increase sales efficacy without increasing risk.
Contact us to learn more how Revenue Analytics can help improve your sales process.