The importance-satisfaction gap: adding value in local media ad sales
Magid has long believed that attitudinal research is critical to shake up and ultimately strengthen strategy because people change their mind before they change their behavior. This is true not just of the consumers who watch our newscasts or visit our mobile apps, but also of the marketers and advertisers who buy from us. So Magid talks to these customers as well to understand their ideals and how companies can better deliver. With so many options available to local advertisers today, it’s important for sales teams to not only deliver advertising solutions that work – they also need to appeal to the advertisers’ goals and prove the value of their advertising solution.
We recently compared what advertisers say is the most important to them with satisfaction for each of those areas. 78 percent of advertisers ranked ROI/results for their business a 10 out of 10 in importance, but only 16 percent are actually satisfied with the ROI they get from their local media spending.
The chart below outlines areas of opportunity for improving advertiser satisfaction in areas of importance.
The importance-satisfaction gap presents an opportunity for sales teams to better meet expectations and demonstrate the value they bring. In order to drive specific improvement across the drivers of overall satisfaction and importance, they need to focus on improving three key areas:
- Understand advertisers’ businesses and their objectives
- Speak their language so they can understand why digital is important and how it works
- Research and provide insights about digital trends and themes
- Valid, accurate and timely reporting displayed in way that allows advertisers to easily understand
- Be leaders in all forms of advertising, the trusted partner advertisers need to navigate a confusing landscape
- Consistent quality, experience and level of professionalism in every interaction
Understanding that advertisers are human, and are ultimately consumers of the same elevated, customized experiences that we’ve all come to expect, sales teams should aim to improve in these areas while delivering a customized, personal approach. Rather than focusing on specific products, they should work to highlight solutions and key performance indicators that will drive their advertiser’s business.