Here’s something that most media companies acknowledge, but don't fully appreciate.
Unlike most businesses, you haven’t got one customer. You’ve got TWO.
And all too often, there’s way more focus on one, at the expense of the other.
Let me explain:
Head onto most local media websites, and you’ll find a website that’s almost entirely focused on the listeners, readers or viewers.
Which is understandable – without them, there’s no audience to sell, and no advertising revenue.
The problem is, with media sales getting more and more competitive, it’s not good enough just to focus on that one customer type – you’ve got to be catering to the advertisers too.
When you consider that the business can only run as a result of the advertising revenue, it stands to reason that you need to undertake a great deal of activity to bring that revenue in.
In many other B2B industries (which is what media sales is), it seems they are far more inclined to allocate time and money to marketing, as preparation for the sales process.
But, because media businesses have this duality of customer, and a sales team, it’s very easy to forget marketing to your advertisers.
I’d encourage you to look at your activity over the last few months – how much of it has been audience focused, and how much of it has been focused on getting more advertisers?
Do you have a separate B2B website that serves to position and present your advertising services, and acts as the cornerstone for delivering regular content, targeted exclusively at your advertisers?
It seems this type of marketing asset is the exclusive domain of other B2B categories, with maybe an exception of the more sophisticated local media companies. But, it needn't be that way.
If you’re weighted too heavily in favour of your listeners or readers, then maybe it’s time to enhance your B2B marketing, to help support the sales effort and bring more revenue in?
