Chapter 2 Flashcards
What has the Internet and digital data provided insight into?
Consumers
What is causing media to become increasingly fragmented?
Disruption caused by the Internet
What type of businesses are growing and taking more advertising dollars?
Mobile advertising-supported businesses
What percentage of all digital ad inventory is sold programmatically?
Over 80 percent
Define programmatic advertising.
Real-time bidding (RTB) for an available online ad impression by a demand-side algorithm
What are the two main drivers of complexity in selling digital advertising?
- Marketing ecosystem complexity
- Digital ad targeting complexity
What has replaced broad demographics in media selling today?
Specific data on individuals
What is the AESKOPP mnemonic used for?
Elements of successful selling
What are the elements represented by AESKOPP?
- Attitude
- Emotional intelligence
- Skills
- Knowledge
- Opportunities
- Preparation
- Persistence
What trend has reduced the effectiveness of solution selling?
- The customer burden of solutions
- The rise of the consensus-based sale
- Increased risk aversion
- Greater demand for customization
What does the customer burden of solutions require?
A deep understanding of a customer’s business and challenges
What has increased the need for consensus in media placement strategy?
Fragmentation of media and complexity of buying media alternatives
True or False: Increased risk aversion means customers are less concerned about returns on investment.
False
What approach to selling is emphasized by a partnership approach?
Enhancing growth and profitability for both buyer and seller
What are the three types of buyers?
- Prospects
- Customers
- Partners
What is the definition of prospects in media?
Individuals who have not bought a product for various reasons
What type of service do customers require?
Outrageous service that delights them
What defines partners in the context of media sales?
Customers collaborating based on mutual trust for innovative solutions
What is the modern view of advertising dollars?
An investment in future sales
Differentiate between tangible and intangible products.
- Tangible: Goods that can be seen and touched
- Intangible: Services or ideas
What is packaging used for in media sales?
To make intangible elements of products more tangible
What is the mission of a media sales organization?
To get customers and keep them
List the four objectives of a media sales organization.
- To get results for customers
- To develop new business
- To retain and increase current business
- To delight customers
What does CEB stand for?
Corporate Executive Board
What does SEC stand for?
Sales Executive Council
What does B2B stand for?
Business-to-business
What is an RFP?
Request-for-proposal
