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As the market for advertising page stagnates and web CPM’s decline, publishers are looking for areas of growth to pump some life back into the media world. Marketing Services might be just what the doctor ordered.
In addition to publishers being “Anytime/Anywhere” from a content and advertising perspective we are heading towards be “everything” that your client needs which is a partner that has already mastered the market they are looking to serve. Implementing a marketing services strategy won’t be right for every market – especially those dominated by business coming in from traditional advertising agencies. Markets with small to medium business that sit on the cusp of needing an agency are really the target that happens to up the majority of B2B advertisers.
Publishers willing to put the time and effort into creating an internal marketing services agency will reap the rewards. Internal marketing service agencies offer the opportunity to create deeper and more meaningful relationships with existing clients. As we work with clients from an agency perspective we are able to access areas of their marketing budget that we have never been able to tap into before (sales automation, brand strategy…). Publishers can realize a new and steady revenue stream from marketing service retainer fees while gaining market share via a tighter and more integrated relationship with the client.
Integrating a marketing services platform into a publishing group isn’t for the faint of heart. Publishers need to be willing to invest in the concept by hiring the necessary talent and creating partnerships with outsourced companies that have the tools a full service agency needs. Internal education and training is also a big hurdle. To take an existing rep selling advertising pages and training them on a completely new subject and sales strategy is a daunting task but very necessary for the sales team’s survival.
Our business is becoming a commodity that requires less strategic selling, market knowledge and runs the risk of going tele sales or worse -online order forms. There is such a wealth of knowledge held by our sales forces, it would be a shame to see this connection with an industry fade away for many reasons. Integrating a solid marketing services agency could not only help breathe life back into business but our front line resources as well.
Great article! Great call to action for publishers and an opportunity to add value to their clients. Also, a way to increase revenues by selling additional agency services. Smaller publishers, which might not have the means to build a full agency team might want to consider partnering with an existing advertising agency
Thank you! I think that smaller publishing houses can white label agency services through a network of smaller and highly focused agencies that can’t compete for the same business that the publisher able to bring in. Of the outsourced companies, one might focus on web marketing while another focuses on sales automation.