All athletes will tell you that strong core muscles are absolutely necessary if you plan on being a competitive threat. Having a strong core foundation in your sales team is just as fundamental to your media company.
Pricing, packaging, and process are the core of any successful program, including your engagement campaigns program.
Pricing, Packaging and Process. The 3 P’s for your Promotional core muscles! #secondstreetsummit
— Nathan (@NathanAHusker) June 6, 2016
For many teams, they’re building their packages and pricing without really taking into account their annual revenue goals. Then, they’re stuck wondering why they’re struggling to reach their revenue target.
You need to start by looking at your annual goal, breaking it down, and then figuring out where each package should be priced. Once you know the amount you need to charge for each campaign, you can build valuable sales packages that not only produce quality results for advertisers, but will also allow you to reach or surpass your own company’s goals.
Establishing these packages and prices ahead of time will streamline your sales process and build the confidence of your team. When you know exactly what you can deliver, it’s easy to confidently talk to your advertisers.
But what do you do when an advertiser is only interested in specific parts of your sales package?
At the Greeley Tribune, Mollie Lee works with her team to maintain a set of specific packages with a variety of different aspects. This way, when they identify an advertiser’s goals, she can quickly choose the pricing package that works best for them.
— Second Street (@secondstreet) June 6, 2016
Mollie thinks of their pre-defined sales packages as a sports shake. Think of these shakes as containing a little bit of everything like fruits, protein powder, and kale. And while you may not like the kale, you know it’s good for you, so you mix it in anyway.
Mollie Lee on promotions packages: “Think of them as sports shakes. Don’t let them pull the kale out. Its good for you!” #secondstreetsummit
— Sarah Sinclair (@sarahsin) June 6, 2016
While an advertiser may not be interested in including an email opt-in, you know it’s good for them, so it’s part of your package. Your goal is to provide them the most value.
Take the time to define your established campaign packages up front. Not only will you be more effective in what you can deliver, but you’ll be able to provide more value. Just because they don’t want it, doesn’t mean they don’t need it. Keep the kale.
Keep the kale! It’s good for you! Don’t let your advertisers scale down your packages. #secondstreetsummit
— Lauren Siegert (@gemini8200) June 6, 2016