Home' Local Media Today : June 2013 Contents 6 | LOCAL MEDIA TODAY | June 2013
By Nancy Lane, president,
Local Media Association
The LMA/Blinder Group Revenue Sum-
mit, held in Chicago last month, brought
together eighty local media executives for
what turned out to be a dynamic, interac-
tive and highly valued conference. The
feedback for this fifth annual event has
been fantastic with many saying this was
the best conference they attended either
ever, or in many years.
Why such amazing feedback? Because this
conference focuses solely on driving reve-
nue tomorrow and nothing is more impor-
tant than that right now.
It is hard to pick just 15, but here they are in no particular order:
1. Nothing is more important to your long-term success than attracting top talent.
In order to do this, you must be constantly recruiting even when you don’t have
open positions. It is a lot easier to fire a non-performer when you have someone
great waiting in the wings. What are you doing to have a line of people waiting/
wanting to join your company? (From the Kirk Davis keynote address).
2. Use inside sales to sell digital agency services. At Propel, they are having great
success with an inside staff of 26. Successful categories include: pest control,
HVAC, electricians, lawyers and more. (From Digital Agency panel).
3. Compensation should be based on total revenue, digital and new business. Kirk
Davis, COO, GateHouse Media recently revamped the company’s sales compen-
sation structure to include these three core components. Time is set aside each
week for reps to prospect new business. Early results are impressive.
4. Change the culture and amazing things will happen. Chris Edwards from Fusion
Farm (Cedar Rapids market) created a place where employees are free to think and
create value for themselves, their companies and their clients. It is working as they
now have a digital agency staff of 45 and growing.
5. Use inside sales to sell digital. At Deseret Digital, they now have an inside sales
department that sells “affordable, high share of voice” products (average sale is
$275-$300/month). They now are producing $500,000/month from this depart-
ment. According to speaker Todd Handy, “if you don’t have an inside sales depart-
ment, start one tomorrow.” The cost of sales for this department is 15%.
6. Email is at the center of all revenue-generating products. Do you know the per-
centage of email addresses to the number of occupied households in your market?
You need to. To grow your email database, “set goals, create an annual plan and
audit your current offerings.” A recent Second Street client developed a five-year
plan that includes growing their database by 5,000/names per year to reach their
goal. Email is generating big dollars for many small and medium local media com-
panies. For example, email will deliver $3 million for the Quad City Times this year
($2 million from deals; $500K from contests and $500K from traditional email.)
(From Matt Coen, Second Street.)
7. For Facebook, charge for likes delivered. In Austria, they are charging fifty cents
per like that they deliver. Some clients are authorizing budgets as high as $10,000.
This is cheaper for the client than running a Facebook paid campaign.
8. Native advertising is about to explode. In Austria, they are producing microsites
for clients and tying them into contests. These are usually three-month campaigns
that are cross promoted on the client’s web site and Facebook page. Editorial is
involved in this process and controls the content (this is a trend seen throughout
Europe.) Campaigns are generating $15,000-$30,000. (From Andre Eckert’s pre-
9. Naming digital agency as a separate brand opens up opportunities beyond the
core geographical market. There is a debate on this subject. When launching digi-
tal agency services, is it best to affiliate the brand with the newspaper or create
a separate identity? All of the panelists on the digital agency panel opted for the
separate name/branding. At Strawberry Fields (affiliated with The Elkhart Truth),
they see this as a way to go after business in four-five adjoining markets. Fusion
Farm in Cedar Rapids feels the same way. Propel, like the others, leverages the
print name when it is advantageous and sells as a separate brand at other times.
Thank You to our Gold Sponsor
William Scott, President/CEO • email@example.com
Kelly Benish, VP of Sales & Marketing • firstname.lastname@example.org
Top 15 Takeaways from the
LMA/Blinder Revenue Summit
GateHouse Media President and COO
Kirk Davis delivering the keynote.
CONTINUED ON PAGE 7
Links Archive May 2013 July 2013 Navigation Previous Page Next Page