Build effective Ad Sales Pipeline @ Publishers/Suppliers.

The life of a salesperson starts with an early morning call where the revenue head or their reporting manager asks about their pipeline. Like any pipeline, this one has it's stages too, each with it's own process. In the bustling realm of advertising, where creativity and strategy intertwine, creating an effective pipeline in ad sales is your gateway to conquering new horizons and achieving remarkable success. Much like an artist perfecting their masterpiece, building a robust ad sales pipeline demands dedication & strategy.

Not every potential client will fit in the pipeline. Some are just window shopping while some are planning to book budgets for Q4. In both these cases, your pipeline cannot & will not meet your monthly targets. So, careful identification is a key where building a sales pipeline will be fun and not a daunting task. At a conceptual level, sales pipeline mimics the sales funnel. Both have 6 stages which are very critical.

Before we discuss how you can make a build an effective sales pipeline, you as a sales person in advertising need to have a CRM. A CRM helps you bifurcate every agency group into their respective agency. It can then help you assign a planner to every brand that agency is holding. A CRM helps you to track every conversation for a certain brand under an agency group. This kind of data is useful in tracking your activity and also identify which client fits in the pipeline.

Creating a sales pipeline isn't a complex process, but it can get one if not done properly. My advice here is to create just two pipelines

1. Monthly Pipeline - Focus only on monthly budgets & events.
2. Yearly Pipeline - Focus on long shot clients or experimental budgets. Clients in this pipeline might convert in the current or next year. This can also help you boost January revenue when the brands are just planning for the year.

Both these pipeline will require the same effort and the same process explained in the points about to come. So, gear up, because we're about to embark on a journey to elevate your ad sales game!

1. Laying the Foundation: Understanding the Art of Pipeline Creation

Imagine your sales pipeline as a meticulously designed blueprint for your success. Just as an architect envisions a building before its construction, you must map out your prospective clients and tailor your approach to resonate with their unique needs. This is where the true magic begins.

2. The Opening Act: Prospecting and Qualifying Leads

Prospecting isn't about quantity, but quality. Cast a keen eye over your target audience, identify potential clients whose goals align with your offerings, and filter them based on their potential value. This stage is where your jargon prowess shines – discerning warm leads from cold ones and identifying the cream of the crop. Always remember to find signs that can hint you the client's disinterest. If you filter out the window shoppers, you will perform better in the next steps as you will deliver value only to the interested clients.

3. The Creative Canvas: Crafting Compelling Pitches

Once your leads are curated, it's time to unleash your creative genius. Develop pitches that resonate emotionally, highlight your unique value proposition, and speak the language of your prospects. Utilize ad industry jargon to establish your expertise and foster a sense of partnership. You can use Generative AI tools like ChatGPT to write stunning pitches. One thing you mustn't do is ask your brand solutions or creative team to build the entire pitch by themselves. Since you know the client, you should give them a wireframe to work on. This will help you to ace success. The more the pitch is customized for the client, the more are your chances to move this client to the next stage.

4. Striking the Chord: Effective Follow-ups

An effective follow-up is like a perfectly timed harmony in a symphony. Use engaging touchpoints to keep your prospects engaged, addressing their concerns and positioning your solutions as the ultimate answer to their challenges. Using a CRM here will help you a lot as you can track all Follow ups. If you have sent multiple pitches to a team of planners, you can simply schedule a personal meeting with them and close things soon. Remember, a personal visit to their office really works as working on phone and google meet becomes tiring for the agency/client.

5. Sealing the Deal: Navigating the Negotiation Stage

Negotiations are the crescendo of your ad sales pipeline symphony. Navigate this phase with finesse, highlighting the tailor-made benefits your solutions bring. Use industry jargon to establish your pricing strategy as an investment rather than an expense. Highlight the ROI potential and demonstrate how your collaboration will be a game-changer. If you've already shared your rates in second step, you can simply ask the agency/client to not ask for discounts/rebate as they are already discussed. Already having internal approvals from your management regarding rates & discount helps to close deal asap.

6. Continuous Refinement: Learning from Each Interaction

An effective ad sales pipeline is a dynamic entity that thrives on feedback and adaptation. Analyze each interaction, celebrating successes and learning from challenges. Adjust your approach, refine your jargon usage, and incorporate new strategies to keep your pipeline at the cutting edge.

To conclude, crafting an effective ad sales pipeline is both an art and a science. It demands strategic thinking, creative flair, and the ability to communicate in the industry's language. Embrace the journey, fine-tune your approach, and leverage programmatic tools to extend your reach beyond your wildest dreams. Remember, your pipeline is your masterpiece – keep refining it, and you'll continue to dazzle the advertising world with your prowess. Onward to success!