At the upcoming May 1-2 Digital Revenue Summit, Gordon Borrell, CEO of Borrell Associates, will speak on the most lucrative opportunities for local media companies. He’ll show the audience where the money is and where it’s going.
We caught with Borrell to learn more about what he’s seeing in local media.
What areas today are you seeing that have the biggest revenue upside for media companies?
It’s definitely in the Digital Services category, and of course packaging digital media and marketing services with some sort of traditional media product. Digital Services, especially around social media, are definitely the fuel that’s help driving print and broadcast sales.
What advertising categories are really taking off that sales staffs should be paying attention to?
We’re seeing an interesting uptick in real estate and of course in political advertising this year. It’s too easy to write off political advertising as something a small newspaper, TV, or radio station can’t really tap. But that’s fallacy. There is so much money being spent at the regional and local level, and it takes only a little energy to tap it. There also seems to be a lot of activity in the Home Services or Home Improvement category.
If sales staffs were able to focus on one thing right now, what you do you think it should be?
Becoming experienced and perhaps certified marketing experts. Everyone is now looking for that expertise, not so much just one type of advertising or another to purchase. They want ideas. They want expertise. They want a well-rounded view of what they can do to market a product or Implement a contest or other type of promotion. So sales reps have to be these super experts when it comes to marketing.
What are you seeing with political ad dollars so far this year? Any advice to sales staffs on how to maximize this category?
From national on down to hyperlocal, people want to place their marketing messages with trusted media. They’re a little spooked by some of the fake news and questionable content that swirls around digital media. But they still have a hankering to use it, especially social media. That’s where a trusted media source might have some inroads. That media expertise is quite valuable, especially when coupled with a long-standing local media brand.
My advice is to begin getting in there now and finding who the decision makers are when it comes to marketing budget, and making a formal presentation to tell your story. It doesn’t end there, however. You have to keep in touch with those campaigns because very often they buy on the spur of the moment. And that may not occur until August, September, or October. For the larger companies that might have the ability to conduct market research for campaigns and candidates, there’s a hell of a lot of money to be made there. A lot of the PAC money seems to be going to market research. We have a lot of that data down to the market level at Borrell Associates.