More E&P Revenue Exclusives
Hearst Magazines has launched AURA, a revolutionary, first-party ad targeting tool that utilizes proprietary AI-enabled technology and multi-dimensional contextual, behavioral and commerce signals to connect advertisers to their most valuable and engaged customers at scale.
In the fast-paced world of news media sales, traditional tactics can feel like a tired script. However, what if there’s a more powerful approach? E&P columnist Richard E. Brown delves into a topic that's been on his mind lately: his approach to selling sponsorships in the news media industry — an approach that frames the news organization as the “hero” in a hero's journey tackling community issues.
Ad Sales Life
In his early days working with newspaper ads, one pizza restaurant taught E&P columnist Richard E. Brown invaluable lessons about sales, time management and the true essence of value. This wasn’t a fancy pizzeria; it was a run-of-the-mill establishment with a couple of branches across town. However, interactions with the owner opened Brown's eyes to a new perspective on advertising.
Sometimes, what’s old is new again. Warner Bros. Discovery seems to think so, as it has turned to programmatic guaranteed in its latest attempt to capture more ad dollars.
Trust is a foundational element in news media, spanning decades and sometimes even centuries, especially concerning editorial concepts and community connectivity. However, regarding the revenue side of news media, trust is the linchpin for businesses deciding which advertising medium and sponsorship relationships to work closely with to help shape their narrative and value.
In news media advertising, organizations often spend too much time analyzing rates and comparing them to similar-sized outlets. It’s important, but sometimes, focusing too much on rate hinders the ability to assess an opportunity directly. Before immediately delving into pricing considerations, it’s crucial first to identify opportunities aligned with your organization’s goals.
Sleete on Sales
There's a controversial scene in"The Wizard of Oz" where, after receiving a "brain" in the form of a diploma, the Scarecrow famously says: “The sum of the square roots of any two sides of an isosceles triangle is equal to the square root of the remaining side!” Which know-it-alls have noted, is incorrect. That's a right triangle. In sales, there are two math formulas that Jeff Sleete holds as important, that he dusts off and brings out to share annually. Here is this year’s take ...
Implementing new revenue streams, from events to newsletters to podcasts to philanthropy — and even T-shirts — has been the goal of many news publishers for several years. Some don’t require much investment, while others require a major commitment in money and staff time. Some have worked, and others haven’t.
Ad Sales Life
Discipline serves as the foundation for creativity to thrive. The key is consistently maintaining focus on creating vibrant communities through insightful reporting while having the creativity to celebrate the positivity within the community. This ensures the development of resourceful content and attracting revenue sponsorship opportunities.
As the entire world seemingly rushes to embrace the latest iteration of generative AI, whether ChatGPT, Bard or the many similar apps, media sales teams must take a more measured approach. That starts with realizing it is a tool and is not the answer to all needs and challenges. Additionally, the parameters of its use and protections from its erroneous and malicious misuse are not yet set.
Ad Sales Life
Richard E. Brown, senior director of retention for The Daily Beast and a columnist with Editor & Publisher, is convinced that 2024 will be a year dedicated to strengthening the bond between advertisers and audiences, fostering a culture of continuous improvement and collaboration. He says this commitment will ensure that "the future of local news media remains vibrant and aligned with the diverse needs of the communities served. Furthermore, emerging trends complement this dedication, promising continued growth and a positive, sustainable trajectory."
E&P's January "Revenue Roundup"
If a picture is worth a thousand words, newspapers have delivered both types of content for over a century. Television took content one step further with motion, sound and color. Today, video content has exploded across multiple TV platforms and escaped from the TV environment to be available almost everywhere and created by almost anyone.