Media Selling
eBook - ePub

Media Selling

Digital, Television, Audio, Print and Cross-Platform

Charles Warner, William Lederer, Brian Moroz

Share book
  1. English
  2. ePUB (mobile friendly)
  3. Available on iOS & Android
eBook - ePub

Media Selling

Digital, Television, Audio, Print and Cross-Platform

Charles Warner, William Lederer, Brian Moroz

Book details
Book preview
Table of contents

About This Book

The must-have resource for media selling in today's technology-driven environment

The revised and updated fifth edition of Media Selling is an essential guide to our technology-driven, programmatic, micro-targeted, mobile, multi-channel media ecosystem. Today, digital advertising has surpassed television as the number-one ad investment platform, and Google and Facebook dominate the digital advertising marketplace. The authors highlight the new sales processes and approaches that will give media salespeople a leg up on the competition in our post-Internet media era.

The book explores the automated programmatic buying and selling of digital ad inventory that is disrupting both media buyers and media salespeople. In addition to information on disruptive technologies in media sales, the book explores sales ethics, communication theory and listening, emotional intelligence, creating value, the principles of persuasion, sales stage management guides, and sample in-person, phone, and email sales scripts. Media Selling offers media sellers a customer-first and problem-solving sales approach. The updated fifth edition:

  • Contains insight from digital experts into how 82.5% of digital ad inventory is bought and sold programmatically
  • Reveals how to conduct research on Google Analytics
  • Identifies how media salespeople can offer cross-platform and multi-channel solutions to prospects' advertising and marketing challenge
  • Includes insights into selling and distribution of podcasts
  • Includes links to downloadable case studies, presentations, and planners on the Media Selling website
  • Includes an extensive Glossary of Digital Advertising terms

Written for students in communications, radio-TV, and mass communication, Media Selling is the classic work in the field. The updated edition provides an indispensable tool for learning, training, and mastering sales techniques for digital media.

Frequently asked questions

How do I cancel my subscription?
Simply head over to the account section in settings and click on “Cancel Subscription” - it’s as simple as that. After you cancel, your membership will stay active for the remainder of the time you’ve paid for. Learn more here.
Can/how do I download books?
At the moment all of our mobile-responsive ePub books are available to download via the app. Most of our PDFs are also available to download and we're working on making the final remaining ones downloadable now. Learn more here.
What is the difference between the pricing plans?
Both plans give you full access to the library and all of Perlego’s features. The only differences are the price and subscription period: With the annual plan you’ll save around 30% compared to 12 months on the monthly plan.
What is Perlego?
We are an online textbook subscription service, where you can get access to an entire online library for less than the price of a single book per month. With over 1 million books across 1000+ topics, we’ve got you covered! Learn more here.
Do you support text-to-speech?
Look out for the read-aloud symbol on your next book to see if you can listen to it. The read-aloud tool reads text aloud for you, highlighting the text as it is being read. You can pause it, speed it up and slow it down. Learn more here.
Is Media Selling an online PDF/ePUB?
Yes, you can access Media Selling by Charles Warner, William Lederer, Brian Moroz in PDF and/or ePUB format, as well as other popular books in Social Sciences & Media Studies. We have over one million books available in our catalogue for you to explore.



The Marketing/Media Ecology

Charles Warner
Anyone taking a moment to ponder the $2 trillion marketing and advertising sector of the economy “can’t avoid the inescapable truth that capitalism could not exist without marketing,” Ken Auletta writes in Frenemies: The Epic Disruption of the Ad Business (and Everything Else).1 The marketing process is vital to the vigor of the American economy, and the media are integral elements in that marketing process and, thus, to the economy’s health and stability. Consumer demand is what drives the economy, and it is marketing that fuels demand. Advertising is a major component of marketing, and it is through the media that consumers and businesses receive advertising messages about products and services. Also, “in the United States each dollar spent in advertising alone spawned nineteen dollars in sales and supported sixty‐seven jobs across many industries…”2
Furthermore, advertising keeps a brand healthy and growing in a highly competitive marketplace. In a March 4, 2019 issue of Ad Age an article titled “The end of austerity” detailed how “The stunning tumble of Kraft Heinz has caused pain for investors … after Kraft Heinz took a $15.4 billion write‐down of its assets.”3 The article goes on to report how Kraft Heinz owner, Brazilian investment firm 3G, went into a cost‐cutting mode and used a zero‐based budgeting process to cut advertising investments drastically. After the Kraft Heinz huge write‐down on assets, a JP Morgan analyst said, “Investors for years have asked if 3G’s extreme belt‐tightening model ultimately would result in brand equity erosion.”4 So not only is advertising a major element in the fuel that drives consumer demand, lack of sufficient advertising investment can stunt a brand’s growth.
If any one of the three elements (marketing, advertising, and the media) is not healthy, the other two cannot thrive. This chapter will examine the ecosystem‐like interdependent relationships among marketing, advertising, and the media and how the Internet disrupted that ecosystem.

What Is Marketing?

In his influential book, The Practice of Management, Peter Drucker, “the Father of Modern Management,” presented and answered a series of simple, straightforward questions. He asked, “What is a business?” The most common answer, “An organization to make a profit,” is not only false, but it is also irrelevant to Drucker. “There is only one valid definition of business purpose: to create a customer,” Drucker wrote.
Drucker pointed out that businesses create markets for products and services: “There may have been no want at all until business action created it – by advertising, by salesmanship, or by inventing something new. In every case it is a business action that creates a customer.” Furthermore, he said, “What a business thinks it produces is not of first importance – especially not to the future of the business and to its success.” “What the customer thinks he is buying, what he considers ‘value,’ is decisive – it determines what a business is, what it produces and whether it will prosper.” Finally, Drucker said, “Because it is its purpose to create a customer, any business enterprise has two – and only these two – basic functions: marketing and innovation.”5
Notice that Drucker did not mention production, suppliers, or distribution, but only customers. That is what marketing is – a customer‐focused business approach.
A production‐focused business first produces goods and then tries to sell them. In the book Marketing 3.0: From Products to Customers to Human Spirit, Philip Kotler and his two co‐authors refer to a product‐focused approach as Marketing 1.0.6 A customer‐focused business approach produces goods or services that it knows will sell based on market research and data that reveal customers’ aspirations, wants, needs, tastes, and preferences. In Marketing 4.0: Moving from Traditional to Digital, Kotler, who is often referred to as “the father of modern marketing,” and his co‐authors refer to a customer‐focused approach as Marketing 2.0.7 In Chapter 15: Marketing and Chapter 16: Advertising, you will learn more about how marketing has further changed from Marketing 1.0 (product focused), to Marketing 2.0 (customer focused), to Marketing 3.0 (human centricity), and to Marketing 4.0 (customer collaboration), but for now, we will concentrate on customer‐focused Marketing 2.0.
Another leading theorist, former Harvard Business School Professor Theodore Levitt, wrote an article in 1960 titled “Marketing myopia” that is perhaps the most influential single article on marketing ever published. Levitt claims that the railroads went out of business “not because the need [for passenger and freight transportation] was filled by others … but because it was not filled by the railroads themselves. They let others take customers away from them because they assumed themselves to be in the railroad business rather than in the transportation business.”8 In other words, the railroads failed because they did not know how to create and keep customers; they were not marketing‐oriented. Where would makers of buggy whips be today if they had decided they were in the vehicle acceleration business or in the transportation accessory business instead of being in the buggy whip business?
As a result of the customer‐focused, marketing approach espoused by Drucker, Levitt and other leading management and marketing theorists, in the 1960s, 1970s, and 1980s many companies asked themselves the question, “What business are we in?” and subsequently changed their direction to focus more on marketing and customers rather than on products. After the Internet became widely adopted by consumers in the late 1990s, entrepreneurs such as Larry Page and Sergey Brin (Google), Mark Zuckerberg (Facebook), and Jeff Bezos (Amazon) asked “What business do our customers want us to be in?”. Existing businesses that survived after the Internet disruption had a heightened sensitivity to customers and changed the old‐fashioned outlook of, “Let’s produce this product because we’ve discovered how to make it.” The Internet opened the door to a new digital age in human history, and from a business perspective, successful businesses and entrepreneurs in the digital age put the preferences, wants, and needs of customers and consumers first as these customer‐first businesses shot past traditional companies in market value.
In today’s digital‐age economy consumers rule because the availability of information on the web has switched the information asymmetry that existed in favor of marketers prior to the Internet to be in favor of consumers in the post‐Internet, digital era. Before the Internet and search, someone who wanted to buy a car had to depend on car dealers and their salespeople to provide information about a car’s features, benefits, condition, and price. The information asymmetry favored the salesperson.
Today, consumers can search for the information about the make, model, features, benefits, condition, and price of a car on the Internet and can be armed with thorough information before walking into a dealership, often with more information than a dealer salesperson has. Therefore the information asymmetry has switched to the consumer in the digital era. Any company that does not recognize that customers now rule an...

Table of contents