Print advertising has become an increasingly tough sell in recent years. The magazine industry has been forced to think outside the box and develop ways to incorporate several types of media into their magazine brands. When trying to increase advertising sales, publishers can either sell more to existing clients or concentrate on prospects and build their client base.
Find New Advertisers
Finding new advertisers is no easy task. It takes a lot of cold calling and prospecting and, chances are, it will take a lot of no's to hear one yes. Publishers can start by researching prospective clients online. Contact information can usually be found on company websites, but it still might take considerable time to find the right advertising contact.
Another way to find new clients is to talk with advertising agencies. Many times, ad agencies represent related clients and it doesn't hurt to ask if any of their other clients might be interested in advertising as well.
Studying the competition's advertisers is a good way to find advertising leads. But thinking outside the box here can separate a creative publisher from one following the same old routine. For example, look at companies that advertise in publications or websites in related markets or industries. Could they benefit from advertising outside their primary industry? A magazine with a solid audience profile can target these types of businesses based on their demographics.
Network, network, network. This sounds trite, but networking can result in all sorts of new leads. Social network marketing has opened a lot of doors for finding new clients online. As part of a magazine's multimedia strategy, publishers should have active company presences on social utilities like Twitter and Facebook. This gives the magazine a relationship with readers, existing advertisers, and potential new clients.
Sell More to Existing Advertisers
As the magazine industry continues to change, publishers are finding ways to expand ad offerings into multiple mediums. The most common way to do this is by improving the magazine website. By offering online advertising, magazine publishers can use the web as a complementary tool instead of a competitive one.
Taking the online approach a step further can include adding a digital edition, an e-newsletter, offering email blasts, and even virtual events. Because web products do not cost a lot to the publisher, they are fairly profitable. Reducing print advertising rates to get clients in the door is something most publishers try unsuccessfully to avoid. Online advertising can act as a bonus product to print advertising, and can be thrown in to sweeten the deal for a client who's on the fence.
Another way to increase sales to existing advertisers is adding a special publication. For example, an industrial publication might choose to do an annual buyer's directory. The incentive for advertisers is that this would be very resourceful publication that manufacturers would keep on hand the entire year, meaning more potential exposure for their ad. The downside is these issues can cost significantly more to print.
Conclusion
Magazine advertising is not dead, it's evolving. By working with advertisers to develop more advertising options and taking a multimedia approach, publishers can increase sales and withstand tough economic times.
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