17 Sep Market Penetration: 8 to 100 in 12 Months
CTW’s very own Dan Dalton brought this MediaReset post to my attention: “Time to disrupt the old media sales model” by Steve Gray. He writes about restructuring the sales strategy and team at Morris Publishing Group to reach 100 percent of potential clients in their area during the year, instead of just focusing on existing active accounts.
The post has the distinct ring of both truth and opportunity.
When I was with Thomson Newspapers, we did similar research and found that no Thomson paper had more than 8 percent of the businesses in their community as advertisers. Most had considerably less than 8 percent.
This is a huge opportunity just sitting there, waiting to be taken. In general, small businesses don’t advertise unless we ask them to. We have to prove to them there is value in advertising with us.
This year Small Business Saturday is November 30, during which consumers are urged to “Shop Small and Support Local Businesses.” This is a great opportunity for you to reach out the Moms and Pops in your community, especially the ones you haven’t had sales conversations with before – or in a long time.
Create a special page or section for your advertisers or even use our Gift Guide: The Guide to Shopping Local. But either way, do something!
The upside is huge. The impact can be great. The cost of such an effort is low.