FACTS, JUST THE FACTS

Have you noticed that the business of selling advertising has changed? Teaching this old dog new tricks is nothing short of a miracle as I remember fondly the day when selling ads meant “print” ads and the most sophisticated question I got was “How many readers do you have and what does it cost?”

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I am working with a client now who in a recent email said, “I want data driven understanding of the influence your readers have over the buying process”. Say what?

This customer doesn’t want to know how much it costs or how many impressions he’ll get. He is looking for a multi-media platform to promote to people who are proven to have influence to buy his product. He also wants to know what my readers consider to be the most reliable way to learn about his products and what convinces them to make that purchase. As I break down that request I realize that what I need to do is some research – fast.

In response, I launched a ten question survey on www.surveymonkey.com to 1,000 of my e-newsletter subscribers who fit the demographics of those most likely in need of his products. Some of the questions I asked were:

“What best describes your involvement in the purchase of products”?

A. Evaluate

B. Recommend

C. Approve

D. None of the above

“Where do you get your information on new products”?

A. Industry publications

B. Industry electronic newsletters & websites

C. Tradeshows

D. Visit with a sales rep

E. Personal recommendations

“What most influences your decision to buy a product”?

A. Industry publications

B. Industry electronic newsletters & websites

C. Visit with a sales rep

D. Personal recommendations

Interestingly, 70% of the respondents reported that they “approve” purchases for their company and 82% said they got their new product information from industry publications, e-newsletters and websites. Only 17% ranked a visit with a sales rep as a top category on either question.  This not only illustrates that my readers have influence to buy products but that they are looking to publications and websites like mine to get the information they need to make those decisions.

I am going to follow-up with a focus group next month at an industry meeting to augment these results but I think that it is pretty clear that readers of our publications and electronic offerings still view us as the most reliable source of information when considering buying products. In this data driven world research is golden. Use it well.

Happy Selling!