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I would like some suggestions on selling advertising space.1 of 1 people found this helpful
Tell us more. You will starting in late April.
Do you have a Business and Marketing Plan??
Do you know about SCORE?? SCORE has a Virtual Learning Center
that includes "ADVERTISING YOUR BUSINESS (ALL FREE).
Hope this helps, LUCKIEST
Thanks LUCKIEST. Yes, I am well aware of SCORE and all that it does for small (and large) businesses and have used them before on our current business. I do have a Marketing Plan. The business is a Community and Business Event Listing Service in Maine. Businesses, Non-Profits, Community organizations can submit their event (i.e. Bake Sale, Bean Supper, Car Wash, Fundraiser, Walk/Run etc.) and it will get posted to the site for viewing of a wider community than local print advertising can provide them with. My hope is that a greater awareness of events will be generated by not only local residents, but people who visit the State looking for events and things to do as well.
My website will be launching in the next couple of weeks and I know that advertising is somewhat based on viewership. I'm looking for ideas on the best way to approach the ad sales since it is not my forte'.
Thanks for the response.
First, you need to determine how many visitors you are getting to the site and should also be able to provide a detailed description of who those visitors are so potential customers can determine whether your site is a good place for them to run an ad. You can survey visitors to gain a better understanding of who they are, what they buy, and where they shop and then present data in a "media kit" or on a page designed for potential advertisers. Demographic and/or "firmographic" data are often critical to potential advertisers who are considering buying ad space. I sometimes advise people on what type of advertising they should do and would never counsel a client to buy ad space without a good media kit that includes plenty of data on site users.
Second, you need to decide how you are going to charge for the ad space. Will it be pay-per-click or do you have some other payment structure? You also need to consider what type of ads you can sell. Will they be banner ads, pop ups or some other type?
Consider hiring a consultant to help you get started out or partner with an organization that can help you. The ad business can be pretty complicated so it pays to do your homework before launching a program and partner with others who are knowledgeable.
Good luck with the new business!
ResearchSight: Thank you very much for your input. I value your honesty. Our other business is a web development business, so I am aware of obtaining the statistics for site visitors and where they come from, but it was very helpful to know about the Media Kit. I have the specifics as to what the pricing will be and what type of ads are available. I'm hoping to launch the site in April and will be able to gather enough information by end of May to pull together a Media Kit.
Regarding working with a partner or hiring a consultant - All funding for this project are coming from me, so this business will start small with plenty of growing room. Taking your information into consideration, instead of hiring a consultant I think I would like to find a Mentor who could help me over some of the larger bumps I may encounter. This may prove to be a better working relationship without the legal ties.
Thanks again for the advice.
Suggestions on selling advertising space.1 of 1 people found this helpful
This might help. Today's N Y Times (Mar 31) Business has a story
ONLINE CHAT AS INSPIRED BY REAL CHAT
INTERESTING and maybe could give you some ideas,
*Your last paragraph "*Regarding working with a partner or hiring a consultant
Taking your information into
consideration, instead of hiring a consultant I think I would like
find a Mentor who could help me over some of the larger bumps I may
This may prove to be a better working relationship without
the legal ties.
As A SCORE Counselor, I would be happy to help MENTOR you,
LUCKIEST: Thank you - I will take your offer into consideration as I progress further in the next week or so.
That makes sense to me-- mentors are great. Feel free to send a link when you're done with the site if you'd like-- it would be neat to see it. Good luck...
Try the old proven method....call every business appropriate to the ad space. Ask...ask...ask!!!!
Try what few understand.
Don't sell, rather, eliminate those who don't choose our invitation to "buy" your product or service.
Challenge....You will need to have a widget that when demonstrated, illustrated, teased with or lured by, that your prospect (suspect unless you have qualified him first, oh, I'm sorry, His/Her) to quantify needs, desires and can afford it.
Otherwise, you will enter the turf of sounding like a salesperson that does not know how to take "NO!" for an answer....remember, sales is a numbers games. Babe Ruth, didn't hit much over 300, if that ...and he made the hall of fame.
So, if you are too "sensitive" to take NO after NO, .....AND you don't appreciate getting, at least, some kind of response, (your biggest challenge) even if it is a NO!........
KNOW THIS....as long as you are selling to your correct target market, and you are providing a NEED, or perception of need,.and you can create desire for the same and your prospect has money to pay for it NOW.....you will not fail.
10 calls to talk to one suspect (not a prospect/qualified yet),
Out of those 10 that took one full 8 hour day of smiling and dialing, you will have warmed up NO LESS than three warm leads.
You should close 50% of those "warm leads" within the first, second or third sales cycle. This is just average work.
If you are not able, willing, smart and strategic to boot....then advertising space you may have to purchase yourself as in "business for sale." Best of luck.
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I would like to know if anyone can give me ideas on what the best solution for selling advertising space would be? I am launching a new business in late April and there will be ad space available. I haven't had to sell ad space before, so I'm looking for suggestions and ideas on a cost effective method that works. Any and all suggestions are greatly appreciated.