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Elevate your media sales game: embracing data for a competitive advantage
In the dynamic world of media sales management, the adage of “trust your gut” and relying solely on manual spreadsheets to make decisions is rapidly becoming a relic of the past. The role of a modern sales manager demands a sophisticated approach that incorporates data analysis as a fundamental pillar of success. This evolution is not merely a choice but a necessity. With the fast-paced landscape of today’s sales environment, sales managers who aspire to lead and thrive must embrace the array of tools available.
Transitioning from old-school sales management methods to a new, data-centric paradigm can be daunting. However, the good news is that third-party software solutions have emerged as indispensable allies for sales managers, promising to streamline processes, enhance efficiency, provide valuable insights, and ultimately save precious time.
Inventory Management
Having a pulse on the status of your inventory is critical. An accurate view of your inventory is no longer optional; it’s imperative. Your ability to gauge the remaining opportunity within a quarter and determine the most effective pricing strategies can mean the difference between achieving your forecast or falling short. Your team may have all the pending you need to hit your goals, but those numbers will be hard to hit if you can’t clear the spots.
Relationship Management
Speaking of pending, a CRM system is a must-have to track client activity and potential. That being said, a CRM is only as good as the data your team puts in it. Accurate pending and activity is crucial to evaluating team performance and understanding where opportunity exists. A media-specific CRM is even better. So often, CRMs have been used for management to “keep an eye on Account Executives.” Implementing a system with this perception in your organization leads to poor adoption and incomplete information, ultimately making the tool worthless. Finding a CRM that prioritizes Account Executives fosters proactive customer engagement, allowing businesses to understand better their client’s needs and preferences and ultimately increasing customer satisfaction and loyalty.
Forecasting
There is constant pressure from corporate to turn in accurate forecast numbers. Most stations get a basic report from corporate with same day last year data to use as a forecasting tool. While those numbers can be helpful, third-party forecasting tools are available that consider so much more. These sophisticated tools can delve deep into historical data, track evolving trends, and account for anomalies, such as political spending or special events. By doing so, they empower sales managers to provide forecasts that are not just accurate but also insightful and actionable.
Pricing
Pricing is the most important piece of the puzzle. You can only hit your goals if you’re pricing your inventory correctly. Finding that sweet spot between what you need to charge and what the market is willing to bear can be challenging. Furthermore, equipping your sales team with the skills to negotiate effectively can make all the difference in maximizing revenue. Third-party pricing software can save you invaluable time by automating rate card creation and tracking market demand fluctuations.
Is It Worth It?
One of the core challenges sales managers face when venturing into data-driven decision-making is the investment of time. The process can be labor-intensive, from gathering and inputting data to interpreting the results and, most importantly, taking action based on those insights. Time is a precious commodity, and finding the right balance between data analysis and other essential tasks can be a complex puzzle.
When considering the adoption of third-party software, it’s critical to assess how much time it will actually save you. If the software requires extensive manual data entry and still demands significant time for interpretation, the promised time-saving benefits may not be realized. Moreover, the added complexity might outweigh the potential advantages if the software necessitates switching between multiple programs to share data.
The ShareBuilders Difference
Fortunately, there are solutions that address these concerns head-on. The ShareBuilder Platform has recently launched as a comprehensive solution for sales managers seeking a seamless and efficient approach to data analysis. This all-in-one platform eliminates the need to toggle between different systems or spend hours grappling with data. ShareBuilders, with over 20 years of experience in broadcast sales, recognizes that a sales manager’s time is invaluable and strives to make data analysis a straightforward and efficient process.
The ShareBuilders Platform goes even further by pairing you with a skilled consultant. This partnership is designed to streamline the process, turning what might take hours to figure out on your own into a concise, weekly 30-minute call with your consultant. This collaborative effort is invaluable in dissecting your forecast while identifying areas of concern and opportunity within your inventory. As a result, you receive an updated rate card, which is adjusted weekly based on changes to the forecast and inventory. This dynamic approach ensures that your pricing strategies remain agile and competitive. The rates on our rate card will help you maximize inventory. However, our clients understand better than we ever could that sometimes there are reasons that those rates won’t work, even if math says they will. For that reason, we offer the ability to edit rate cards before you export them to your team.
On the CRM front, the ShareBuilder Platform is built exclusively for media sales teams and is designed by media sales professionals who understand the industry’s unique needs. Custom integration with all major traffic systems ensures seamless data flow, while Zapier connectivity opens the door to over 5,000 other platforms for added versatility. If your specific requirements remain unmet, ShareBuilders provides an integration team ready to create custom solutions that align with your objectives. As a final touch, ShareBuilders is the only media sales platform with a dedicated mobile app, allowing your sales team to update activity or pending on the go effortlessly. We built our CRM with an AE-first mentality, making it as easy as possible to put customer engagement at the forefront of business activity.
Data analysis has emerged as the linchpin of success in the ever-evolving landscape of media sales. Integrating third-party software solutions, such as the ShareBuilder Platform, not only simplifies the process but also ensures that the promise of efficiency is fully realized. This modern approach to sales management empowers you to make data-driven decisions, capitalize on emerging opportunities, and navigate the intricacies of pricing with confidence. Embracing these tools is not just a choice; it’s a competitive advantage for any sales manager looking to excel in today’s media sales environment.
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