In the media business, it is said that content is king, but advertising is the real key to longevity and success. Magazines that have succeeded not only produce great articles and insightful commentary but have learnt to strike a balance between the editorial and promotional. No matter how amazing the content, if a publication is unable to secure enough advertising, which is the primary source of revenue for most magazines, its future as a self-sustaining entity is uncertain. And with every segment of the media field being so crowded, it is imperative that a publication develop a sound strategy for attracting advertisers. Here are some basic rules on how to sell magazine advertising.
- Skill level:
- Moderately Challenging
Other People Are Reading
Things you need
- A computer with an Internet connection
- A phone
- Copies of competing magazines
Research your competition. Make a list of similar publications in your area and nationally and read through them to identify the type of advertisers you would like. These publications can be a good resource and will likely be your competition when approaching businesses.
Research your market. Create a list of types of businesses you will approach, using the ads from similar publications as your guide. Then find specific companies within each category.
Develop your advertising package. Your advertising package is the detailed magazine information that you present to your potential advertisers. This should include an opening letter, description of the magazine, how many readers you have, the sections, frequency of publication, information on the types of readers your magazine attracts and details on the specific ad packages.
Write your sales pitch. This is the opening script you will use when contacting potential advertisers and can be used over the phone, in person or via e-mail. You should condense the most important details from your ad package, including the type of magazine, number of readers and ad specials.
Contact potential advertisers. This can be done by e-mail, phone or in person. Use your sales pitch as your guide and be prepared to use more than one method. Selling ads is a difficult business and perseverance and patience are essential.
Create an account form for each new advertiser. The form should include the business name and contact info along with the type and size of ads. Use this form to keep a running total of for each advertiser, including the amount of money due for each ad and payment dates.
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