Video: The Modern Media Sales Dilemma Known As CMO Pizza
In order to be successful in today’s media industry, sales people need to understand the perspective of the modern marketer. You need to understand how CMO Pizza works.
Marketing has changed drastically thanks to the rise of the internet and digital marketing. Marketers’ budgets are being sliced in more ways than ever before, with spending allocated to websites, SEO, social media marketing, and more. And although many companies are upping their marketing spend by investing in these services, publishers are actually getting paid less. That’s because the publisher slice of the marketing pie -- traditionally known as advertising -- continues to shrink as new marketing tools emerge.
This is the dilemma known as CMO Pizza.
Publishers have responded to the CMO Pizza dilemma by creating even more products. But that’s only served to increase the number of slices, while the overall revenue number stays the same or dwindles. And what’s worse is that media salespeople must work harder to sell more products for the same or less amount of revenue.
The solution? Stop selling by the slice (or product or revenue stream) and start bundling products together that cross the pie slices and drive greater total revenue. Take native advertising for example. Is native advertising part of a client’s shrinking advertising budget? Or is it part of their growing “content marketing” budget and include social media, interactive, and events budgets.
For more tips on getting inside the mind of the modern marketer, check out the free video course “How Salespeople Can Win the Battle for the Mind of the Modern Marketer”, or register for the upcoming workshop Reboot: Radically Transforming Media Sales on October 6.
Denis Wilson is the content director for Target Marketing, Publishing Executive, and Book Business, as well as the FUSE Media and BRAND United summits. In this role, he analyzes and reports on the fundamental changes affecting the media and marketing industries and aims to serve content-driven businesses with practical and strategic insight. As a writer, Denis’ work has been published by Fast Company, Rolling Stone, Fortune, and The New York Times.