KEEPING YOUR FRIENEMIES CLOSE:  If you sell digital audio/video you probably consider broadcasters as Frienemiers, linked by market dynamics which affect all media sellers while still being tooth-and-nail competitors.  So they sort of fall in between that saying from The Godfather about “keeping your friends close and your enemies closer”.  To that end, the attached Inside Radio link provides a deep dive into the state of Broadcast Radio’s revenue position as we near the half way point of 2017.  The results so far have been mixed to slightly down.  Broadcasters are feeling the pinch of declining categories like Retail and Auto, and seeing the ripple effects of Political upheaval impacting Advocacy and Healthcare sectors.  Of all the stats in this lengthy piece the two I latched on to were -7.4% and 613,657.  The -7.4% stat is the drop in National Radio Revenue during Q1’17 vs Q1’16.  This is a bell weather indicator that national brands are fleeing radio for digital and other forms of media, which doesn’t bode well for broadcasters in the long term.  And 613,657 is the number of house ads iHeart ran across all its stations during Q1, which is up 5% over last year.  That stat is telling because broadcasters only run house ads when they have open inventory.  So intuitively iHeart sold 5% less paid ads in Q1 than 2016.  Makes you wonder why they wouldn’t just play more music to get their ratings up?!?  Regardless, this story is a great way to keep your frienemies close.

MAKING THE McAPP MEANINGFUL:  Mobile Apps have been an aspirational goal for most QSRs over the past few years. But just getting consumers to download the app isn’t enough.  Restaurants need to provide better reasons to interact on a mobile device.  Some chains like Starbucks have done a good job of integrating mobile pay at the register but still don’t have other meaningful In-App features.  Others are hopelessly lost in store locators (do you really not know where the nearest QSR is?) or mobile couponing (aka Free Small Drink Hell).  But just when you’re about to give up on QSR mobile apps comes a very interesting breakthrough from McDonald’s, as featured in the attached Motley Fool link.  McD’s in currently testing an order-ahead functionality which combines In-App ordering with lat-long tracking.  The concept is simple – consumers order from their phone, and then the selected McDs location is pinged as that mobile device gets close to the restaurant so they can start making the order.  In theory this will allow diners to skip the line and pay ahead while still enjoying a freshly made meal.  I’m sure the real world application may be a little more challenging (a mile drive time on a surface street in LA takes a little longer than the same distance in Topeka), but the concept seems like an exciting an innovative way for QSRs to deliver a real benefit through their apps.

THE BIG 5, BY THE NUMBERS:  Finally today, I came across this fascinating graphic from Business Insider on the revenue stream compositions from the five largest tech companies.  Each has a very different business model so it’s hard to make an apples to apples comparison between them.  Regardless, there are some notable observations within the media side of these numbers.  Regarding Apple, check out that 11% of revenue from Services.  Their music streaming (Apple Music) lives within this slice and is estimated to be around 10% of the Services total.  So by the power of deductive math Apple Music makes up approximately 1% of their total revenue.  It’s also worth noting Amazon’s Media business now stands at 18% of their total revenue.  Considering ad sales wasn’t even a platform for Amazon four years ago that’s a pretty impressive build rate.  It’s also worth noting Microsoft is almost completely out of the media business with just 7% of revenue coming from Ads, which is in contrast to FB who is almost entirely reliant on ad revenue at 97%.  Nothing to do with this data but good to be aware of.

Have a great Wednesday guys!

TOP (MISSPELLED) DIGITAL STATS:  To shake off the rust after the long holiday weekend I thought I’d get you reacquainted with the top digital stats of the past week, compliments of AdWeek.  While most of the points are rehashes of what I featured last week, there are some quirky misspelling stats towards the end of the piece.  Apparently people are searching for a heck of a lot of deodorant, even though most don’t know how to spell it correctly.  It’s amazing to me that “men deoderant” could be the most expensive CPC word in CPG!  I also got a kick out of #9 – apparently spelling “doughnut” boosts CTRs by 10% over the new skool “donut”.  Somebody better let Dunkin Donuts know about this ahead of National Donut Day on Thursday!

iHEART ON THE ROPES:  There’s more pain in the horizon for iHeart as debtholders continue to balk at the company’s attempts to tender (refinance) over $14B of its $21B in debt.  In iHeart’s latest try only $47M of their tendered offer was accepted by creditors, which is actually down from $86M that was agreed to in their most previous attempt.  Translation . . . fewer and fewer investors are willing to go along with iHeart’s debt restructure and are seemingly willing to let the company fall into bankruptcy, which could happen after the current exchange deadline on June 9^th.  Public companies never want to hear the term “game of chicken” used to describe its relationship with their investors, but that analogy seems to be spot on here.

BROADCAST TV 2.0:  Video’s digital transformation, and the challenges it’s created for the traditional networks, is well documented.  Overall video content consumption is up but viewership is being fragmented across hundreds (even thousands) of digital publishers.  So broadcasters are commanding a smaller slice of a larger pie than ever before.  While much energy has been exerted documenting the problem, less time has been spent on industry-wide solutions.  That’s why the attached HuffPo article is so relevant.  In it they make a simple yet effective set of recommendations for the networks to follow.  First make ratings platform agnostic by embracing uniform measurement, like Nielsen’s TCR, across all platforms.  Then as ratings metrics are standardized take advantage of the programmatic buying wave.  Despite all the hype about video programmatic only 6% of broadcast TV dollars are transacted programmatically.  And finally, sell the consumer and their associated data instead of just network ratings.  By using advances like addressable TV, networks and cable operators have the ability to know who’s watching.  Once networks aggregate this data at scale and bundle viewers into custom audience segs they’ll be able to truly compete for digital dollars and stay relevant in tomorrow’s video landscape.

Have a great Tuesday guys!

Those of you who are long-time readers of my blog know Memorial Day is the day of remembrance I take most seriously of all.  I don’t even consider it a holiday, because it’s meant to honor those who’ve made the ultimate sacrifice by laying down their lives for our country.

Instead of a normal post on the Friday before Memorial Day I like to recirculate the attached YouTube link. It’s a video for If You’re Reading This (Lay Me Down) by Tim McGraw.  It’s such a heart wrenching song Tim no longer performs it live, because he can’t get through it without tearing up.  If you ever need a reminder of the sense of sacrifice these soldiers and their families go through, this video will capture it.

Additionally this year I’d like to share an excerpt from a 2010 speech then Lt. General John Kelly (who now serves as our Secretary of Homeland Security), delivered about two young marines killed in action on April 28, 2008 while manning a checkpoint in Ramadi, Iraq.  The second by second tail is a gripping account of extreme heroism displayed by these marines who put their fellow Americans and their mission before their own lives.  What’s equally amazing is that Lt. General Kelly told this story in a speech just four days after he lost his own son who was serving in Afghanistan.  Just the act of telling the story of other marines’ valor in a moment of great personal tragedy over his own loss is the embodiment of putting others before yourself, and is a fitting tribute to the marines who lost their lives in this story.  Even if you read this link now, make a promise to yourself to read it again on Monday.  It will truly make you appreciate the meaning of Memorial Day.

THE WAR ON FRAUD IS WINNABLE:  This week the digital media industry received a significant piece of good news on the ad fraud front.  It came in the form of a white paper released by the ANA (Association of National Advertisers), which shows an estimated 10% decrease in worldwide digital ad fraud from 2016 to 2017.  The numbers are still pretty staggering – estimated fraud in 2017 will be ~$6.5B (yes, that’s still with a B).  While billions of dollars in media budgets lost to fraudulent ad delivery is still unacceptable, the decrease is proof positive that the industry’s transparency efforts are working.  In particular, the adoption of PMPs over Open Exchanges for programmatic delivery was called out as one of the leading solutions which is helping to turn the tide.  The source of this data is also significant.  This client-side trade group would be the last organization to give publishers credit for improving in the area, so to hear it from them is good news indeed!

VERIZON TV?:  Verizon is aggressively working on plans to leverage its AOL and soon-to-be Yahoo acquisitions (the latter is expected to close in June), by launching a new OTT streaming TV service.  The best comparison to Verizon’s plan would probably be Hulu.  Picture a subscription-based TV service with a couple dozen channels and live sports like the NFL, thanks to Verizon’s existing rights deal with the league.  So far Verizon has been light on programming details, so it’s not clear which networks will be included in their bundle.  But for now there are no plans to produce original content the way Netflix, Amazon, and Hulu are.  Original exclusive content seems to be a key for any OTT platform to be successful, so it will be interesting to see how Verizon plays this out.  Also expect YouTube to get into the streaming TV game, as they expand the content included under their YouTube Red subscriptions to include network programming.  Is your head spinning on this stuff yet?  Imagine what the traditional TV networks and cable operators must be thinking about all the new playmates in their sandbox?!?

LEAD FROM THE FRONT:  I come across the following picture from time to time on LinkedIn, and I have to admit it irks me whenever I see it.  I’m not saying the narrative isn’t correct – maybe wolves in the wild do organize themselves with the sickly ones in the front and the leader hanging back in the caboose.  But that’s the opposite of how a business organization should run.  True business leaders must lead from the front, not the rear.  This is important for two reasons.  First, leaders set the pace for the entire team.  If you’re in the front you can control the speed of the org . . . push tempo when appropriate, collect and regroup if needed.   Conversely, if you’re in the back making sure nobody falls behind the entire team will only move as fast as the slowest team member, and that’s no way to run a business.  Second, and more subtly, is the importance of leaders “walking the walk”.  I’ve been successful in management by only asking employees to do things I’m also willing to do.  By being out in front you can demonstrate leadership by actually doing.  This will garner respect from your team and help them believe they too can achieve whatever you’re asking of them.  So I’m sorry Mother Nature, I don’t subscribe to the picture below.  Instead I’m going with the leader who will charge across the battlefield first, because their troops are sure to follow.

Have a great Thursday guys!

DEATH BY A THOUSAND PODCASTS:  What used to be seen as a light at the end of the tunnel for radio might just be a freight train instead.  I’m talking about podcasts, which were originally invented as a download-now-save-for-later content extension of long-form talk radio.  But in the age of streaming two things are happening to podcasts which are decidedly negative for broadcasters.  First, original content is being created by podcasters instead of just an extension of what you hear on radio.  Podcasts now compete for share of ear, instead of just being a distribution extension of broadcast radio.  Second is the rise of podcast consumption via streaming instead of download.  Podcasts are now truly on-demand anytime, anywhere, as long as the listener has internet access.  This tech advance has helped podcast listening surge – according to  the attached Nuvoodoo study 10% of the US population listens to over an hour of podcasts daily.  That’s a serious average quarter hour pull which has to come from somewhere.  And based on the graph below it looks like radio is paying the biggest price for podcasting’s growth.

GETTING TO KNOW GEN Z:  Is it just me or has the marketing ecosphere totally over baked the importance and influence of millennials?  Yes, they’re a sizeable demographic group who are ageing into prime earning and consumption years.  But did you know there will be life after millennials?  And the next niche-generation, already dubbed Gen Z, is coming up fast.  The biggest difference between Millennials (21-35 yos) and Gen Z (12-20 yos) is that Gen Zers have never known a world without smartphones and social platforms.  Because of this they communicate differently than every generation before them.  The attached AdWeek link and following infographic breaks down Gen Z’s social use by platform and provides some insights into the best/worst ways to interact with them.  Turns out YouTube is a BIG deal – I guess your average 17 yo doesn’t care about watching videos in a brand safe environment.  Celebrities can also be really good (or bad) as a branded content vehicle.  And girls are more likely to use Instagram, FB, Snapchat, Pinterest and Tumblr, while guys are on YouTube, Twitch and Reddit.

IT’S AN IoT WORLD AND WE’RE JUST LIVING IN IT:  Finally today, if you ever get blurry-eyed thinking about how crazy complicated digital media sales is becoming, consider the bleeding edge of IoT for a minute.  Last week the connected device industry met for its annual Internet of Things World 2017 Conference.  I won’t even begin to pretend I’m an expert at this stuff (wtf the fog computing?).  But even from the top row of the bleachers I can respect the formative work happening in this space right now, and how it will impact our lives as consumers and digital media professionals.  Of the eight takeaways in the attached Medium.com article I especially like #2 – the analogy of giving consumers aspirin over vitamins is spot on.  Point #8 is also interesting to ponder – imagine all the ways these industries will be transformed over the next 5-10 years because of IoT.  Good reading material for your future self!

Have a great Wednesday guys!

YOU ALWAYS GET WHAT YOU PAY FOR:  These days the client/agency relationship pretty much follows this narrative – clients select an AOR based on who can deliver a full-spectrum marketing strategy the most efficiently.  So the agency who pitches the cheapest most cost effective strategy wins the business, and then must deliver its services on paper-thin margins.  As a result of this downward cost pressure agencies are forced to cut corners by using less experienced/overworked staff and dated technology.  The problem with this sequence, of course, is that in life you get what you pay for.  So as the price paid for marketing goes down eventually so does the quality.  But as clients push for ever-leaner marketing solutions they seem to be blind to this inevitable law of gravity.  That’s why it’s so refreshing to see the attached article from The Drum, about Oliver Maletz, Volkswagen’s head of media, and his contrarian approach towards marketing.  Mr. Maletz espouses the value of a quality creative process that’s blended into the entire marketing strategy.  Instead of sending to creative team off in a bubble to produce spots and then charge the media team with buying it as efficiently as possible, Volkswagen and it’s agency PHD are merging both elements into one collaborative process.  By necessity this strategy has to be less about efficiency and more about quality output, which is definitely swimming against the cost savings stream the rest of the industry seems to be in right now.

THE ROBOTS ARE COMING . . . TO RETAIL:  If you think eCommerce will be the biggest thing to change Retail over the next 10 years you might be wrong.  Robots are poised to transform the in-store retail experience in an even more profound way.  According to this CNN Money link, machines are expected to replace 6-7 million retail jobs over the next decade.  Most of this attrition will come from register positions as the checkout process automates.  Sales and stocking jobs are also at risk as consumers become less reliant on in-store assistance because they can “showroom” product specs on their smartphones.  One of the driving forces behind this transformation is the cost of human labor.  With minimum wages on the rise and the “Fight for $15” (an hour) efforts getting more traction in the larger cities, labor cost as a percentage of the total retail expense is growing.  This reality, combined with technological advances which have made robots smarter and less expensive than ever, have the potential to significantly change the shopping experience and eliminate millions of jobs in the industry.

MANAGING COMPLEX CHANGE:  Finally today, an interesting graphic to chomp on.  We all know digital media is an industry rife with constant change.  But have you ever thought of the best way to implement complex change?  The following image was posted on LinkedIn with no explanation, but I think it speaks volumes.  Successful change requires Vision, Skills, Incentives, Resources, and an Action Plan – no arguing that.  But what’s really fascinating is to see what you get when any one of these ingredients is removed.  So true!

Have a great Tuesday guys!

 

 

TOP DIGITAL STATS:  Here’s your usual Monday morning dose of the top digital stats from the past week, compliments of AdWeek.  It felt like kind of a meh week for Digital as the ad community was more focused on the traditional TV Upfronts.  If you want to go nuts over the utilization of social platforms for wedding planning then point #4 (with accompanying infographic) is for you.  I found points #5 and #6 more interesting, with Facebook’s investment licensed content for its Facebook Live platform.  You may remember a few months ago FB discontinued paying influencers to post live videos.  Now they’re trying a different route by entering into content deals with MLB and ESL (which is an Esports publisher).  I guess even FB realizes just having a live platform isn’t enough . . . you actually need something decent to watch in order to attract viewers.

FROM BRICK & MORTAR PREY TO DIGITAL PREDATOR:  You can’t go a day without seeing a story about a B&M retailer falling prey to the eCommerce shift.  But there seems to be one (very large) traditional retailer who’s bucking the trend.  Yes, you guessed it . . . Walmart.  During last week’s Q1 earning’s call Walmart announced same store sales grew 1.4% over Q1’16.  By comparison Walmart’s closest rival Target was happy with a 1.3% decrease.  Not surprisingly, the engine of Walmart’s growth was online sales, which jumped 63% YoY.  What’s even more impressive is that they achieved this eCommerce increase on regular Walmart.com, instead of their Jet.com subsidiary.  So what’s Walmart’s digital secret sauce?  It’s a combination of innovative tactics, like free 2-day shipping without requiring an Amazon Prime-like subscription and buy online/pick up in-store discounting, woven into one overarching eTail strategy.  Walmart’s digital success should read like a blueprint for any other B&M retailer looking to stay relevant in the digital age.

PPMs READY TO COME OUT OF THE 1980s?: Finally today, there are signs Nielsen is finally ready to address one of the underlying problems of its PPM platform . . . that panelists don’t want to wear the device because it looks like a pager your dope dealer wore in the 1980s.  The current PPM devices came to market in 2006, and had been in design since the mid-90s.  So that 80s reference isn’t really an exaggeration.  To address the issue Nielsen is demoing two next gen PPM test versions – one which looks like an Apple watch and the other which resembles a Fitbit.  The only problem with this plan is that by the time the new versions achieve widespread distribution (give it at least 5 years), the wearables market will have advanced to in-ear, or neural netting, or whatever.  Thus keeping the fashion-backwards PPM hopelessly behind the tech wearable curve.

Have a great Monday guys!

*** Editor’s Note:  After much cajoling from my millennial coworkers I’ve decided to get social and start posting the Daily Gabe on Twitter.  I’m only going to tweet this on Fridays to avoid becoming “that Twitter showboat guy”.  If you’re interested in receiving my weekly notifications you can follow me at @gabetartaglia. ***

PATAGONIAN TOOTHFISH = PROGRAMMATIC (wtf?):  On Wednesday the IAB published its first (and way late) position paper on programmatic.  Their biggest finding is the industry needs to up level the conversation from just thinking about programmatic standards and instead embrace automation as the inevitable endgame for marketing.  In other words, replace the word “Programmatic” with “Automation” in our vocabulary.  Here’s the IAB’s exact rationale for the switch . . . “Instead of relying on the false dichotomy of defining overall buying and selling practices as ‘programmatic’ or not, IAB proposes a framework rooted in the digital supply chain processes that can (or cannot) be automated.”  Boring stuff, right?  Well not to the ad community who pounced on the proposed change, as captured in the attached AdAge link.  The reactions range from why is the IAB tinkering with a name change while the industry suffers through a fraud bonfire, to rebranding sometimes allows for a fresh start and creates new opportunities.  The various quotes from industry leaders are pretty telling.  My favorite is the analogy from Bloomberg CRO Keith Grossman, who noted the positive impact on the Patagonian Toothfish industry when it rebranded itself as Chilean Seabass.  Well played Mr. Grossman, well played.

BRINGING A BUTTER KNIFE TO A GUN FIGHT:  If you used to work in radio but now work in digital (like yours truly), you understand how hard it is for broadcasters to compete for digital ad dollars.  But if you work in radio you believe you’re making great strides with an ever-improving array of digital products.  So why the disconnect?  It’s probably because it can be hard to see outside of the fishbowl you’re in, so one’s perception becomes their entire reality.  That’s why the attached Radio Ink interview with respected media consultant Gordon Borrell is so refreshing. Finally someone who’s considered a “radio insider” has the guts to call out radio’s digital deficiencies and assign some blame.  The quote below pretty much says it all.  Being a legitimate digital audio platform is hard.  It requires measures like making listeners register for accounts so you know who’s logging in, and reducing the ad load on your stream to better compete with the pureplays.  It’ll take this level of commitment from the broadcast execs to make radio a viable digital platform, and nothing less.

MILLENNIALS’ TOP 100:  Finally this week I’d like to leave you with something you can waste your entire weekend on.  Every year Business Insider partners with Moosylvania (yes, it’s a real ad agency) to survey thousands of millennials on their favorite brands across every consumer facing business sector.  The results are fascinating.  Yes, the predictable uber-hip brands like Trader Joe’s (55) and Urban Outfitters (93) are on the list.  But so are mass merch grocers like Kroger (21) and Aldi (83).  Not surprisingly, archetype companies like Apple (1) and Nike (3) dominate the top of the list.  But would you believe Walmart (7) beat out Amazon (8) amongst millennials?  (Can you tell I’m geeking out on this list yet?!?)  As I was reading through these the one common denominator occurred to me.  Every company on this list has a strong and easily identifiable brand proposition.  Whether it was Cool, Value, Style, Tech, Eco or whatever, these guys stand for something that’s ingrained in consumer perceptions.  Kudos to the Top 100!

Have a great Friday (and weekend) guys!

MO’ MEASUREMENT, MO’ PROBLEMS FOR FB:  I think yesterday was “Groundhog Day” for digital media.  Yet again Facebook has disclosed a measurement calculation error.  This time it was a miscalculation of the number of times ads are being clicked on, which could result in overbilling advertisers who pay on a CPC basis.  The error rate and financial impact were relatively small – FB estimates .04% (so .0004) of mobile video carousel ads were affected, and is offering $10 (yes, 10 whole dollars) in restitution to affected clients.  But it’s not about the size of the mistake, it’s the principle that FB’s self-measurement methodology is fundamentally flawed.  This error is the 10^th measurement miscalculation FB’s revealed since Sept’16 – and you wonder why brands have lost trust in digital platforms?  To FB’s credit they’ve made major steps towards transparency in the last several months by opening themselves up to MRC accreditation and third party measurement.  But unfortunately for our entire industry, the damage that keeps happening is affecting us all.

KATZ’S (SORT OF) NEW AUDIO PROGRAMMATIC PLATFORM:  There was a decent amount of buzz in the trades yesterday about Katz Media’s relaunch of their proprietary audio programmatic platform called Expressway.  This was originally launched in late 2015, but it took over a year for Katz to gain widespread adoption by the broadcasters.  On Tuesday Cumulus committed its 500+ stations to Expressway, bringing the total up to eight broadcasters and over 2,000 stations (which is about a quarter of the broadcast radio industry).  Despite their “data enablement” claims, Expressway can’t target anything more than station formats.  So this platform is really about delivering bulk cost savings by eliminating the need for sales reps to handle the transactions and lowering CPMs.  The attached RAIN article has a pretty good summary, along with several “isn’t life wonderful now” quotes from the participants in the deal.  As a side note iHeart does not participate in Expressway, as they have their own separate RTB exchange, even though both their platform and Expressway are run by the same DSP Jelli.  Confusing and fragmented I know, but that’s radio for you.

THE INGREDIENTS OF EMOTIONAL INTELLIGENCE:  If you’ve worked in the business world for any amount of time you know there’s an intangible quality in some coworkers which somehow makes them easier to work with and more successful than others.  But it’s a hard thing to explain, much less measure.  What is this invisible quality?  It’s most likely something called Emotional Intelligence.  The concept of EI first started circulating about 6-7 years ago and is now firmly embedded in the zeitgeist of the business world.  So how can you identify EI in those around you, and more importantly, is there a way to grow your own EI?  The attached Inc. article does a nice job of distilling the four primary indicators of EI – Transparency, Flexibility, Emotional Control, and Empathy.  Employees who exhibit a high degree of all four traits are likely to be key team members who, like the center of a spoked wheel, are mission critical to the entire organization.  I can tell you from personal experience it’s easier to be born with these skills than to learn them.  During the first half of my career I realized I was born with Transparency and Emotional Control, but was relatively Inflexible and had zero Empathy.  So I took it upon myself to actively work on those two qualities in order to become more emotionally centered.  As with anything you want to improve upon in life, identifying the deficiency is half the battle.  So how’s your EI, and what are you working on?

Have a great Thursday guys!

PMPs SURGE ON SAFETY/FRAUD CONCERNS:  During the back half of 2016 concerns over brand safety and bot fraud came to the forefront of digital advertising.  Nowhere has the scrutiny been more intense than around Open Exchanges for programmatic transactions.  Due to the nature of these platforms there’s no way for networks to insure brands that their ads are being viewed by humans in a non-offensive content environment.  As a result by Q4’16 the industry began a major transfer of programmatic spending from Exchanges to PMPs (which are 1-1 programmatic relationships between publishers and brands).  As you can see in the attached Digiday article and in the graphs below, a transformative shift is occurring.  While PMPs still have a ways to go to catch up with the Exchanges in terms of overall spend, there’s a clear trend line forming.  And once in-app PMP utilization catches up to web-based delivery I’d expect to see the shift towards PMPs accelerate even faster.

DON’T CONFUSE AMAZON WITH A RECORD LABEL:  Given Amazon’s recent push into original TV programming there’s a logical question as to whether or not they would try to run the same play on the music side by becoming a de facto record label.  However, that idea was roundly squashed by Amazon’s VP of Music Steve Boom in an on-stage interview at TechCrunch’s Disrupt conference.  During the segment Mr. Boom said Amazon was happy being a distribution platform for music, with Amazon Music embedded in its Echo platform and also packaged within its Prime subscription offering.  The two strategies give Amazon enough of a toe hold to stay relevant in the digital music game, but admittedly won’t dominate a very crowded streaming playing field.  Amazon also sees some advantages in offering on-demand at a discount, with current subscription pricing in the $4-8/mo range, compared to the $5-10/mo industry standard.  Not sure if you can blame Amazon for being non-committal on this, as they have quite a few other strategic initiatives on the front burner right now.

SALES ISN’T AS EASY AS IT LOOKS:  Do you ever find yourself in this situation?  You’re having a conversation with a family member or neighbor about what you do for a living, and you realize they think your media sales job boils down to a series of high end client dinners, sporting events, concerts, golf, etc..  If only sales was that easy.  What they don’t understand is for every ounce of “fun with clients” there’s a pound of sweat equity required to develop that client in the first place.  Sales is hard, plain and simple.  Especially the first half of the sales process when the seller must identify a new prospect, get a foot in the door, conduct a consultative needs analysis, create a proposal which reflects the client’s KPIs, and present it in a way that’s compelling enough to purchase.  All of this must be done successfully in order to enjoy that steak dinner or round of golf with your established client.  So what are the keys to getting there . . . to being a successful salesperson?  While you could look through libraries of books devoted to this question, I thought the attached LinkedIn article from an executive level Sales Consultant named Ali Hanif was a good place to start.  Mr. Hanif breaks down the challenge of sales into four buckets; (1) the requirement to Perform or be out of a job, (2) the ability to thrive during near-constant Change, (3) the importance of Defending your client base despite the need to develop new biz, and (4) the requirement to be Connected nearly 24/7 so you can be there when your clients are ready to transact.  Does this sound easy?  Of course not.  Maybe that’s why successful salespeople are generally paid well to spend half their time entertaining clients, because the other half of their job is so daunting.

Have a great Wednesday guys!