Mailbag: The future of publisher ad sales

Plus, media relations 101 and what's the deal with in-housing?

Thanks to the folks sending in their questions. And thank you all for allowing a space for experimentation. 

What do you think the future looks like for Publisher Ad Sales? Is it a good business to grow a career in? Where should sellers be focusing their efforts as it pertains to platforms, verticals, etc.? What should sellers be keeping an eye out for? -- Ad Seller 

The good news here is that media will continue to be an ad supported model for a while. As long as companies have products and services to sell, and see the need to get their message in front of as many eyeballs as possible, there will be ad sales. 

Subscriptions are important for many outlets, but the reality is that readers have a finite budget. I can only pay for so many publications. I read a lot, but if all these outlets were subscription-only and not ad supported, I wouldn’t be able to read nearly as much. I imagine this is true for many people.

The bad news: the cleaving of the landscape, from both an editorial perspective and a sales delivery one, means that advertisers have to be more cautious with where they spend their dollar. 

In other words, because audiences are now more inclined to attach some kind of cultural significance to which media companies advertisers support, coupled with how advertisers often don’t know where their ads are being placed, it makes it much more difficult for the sell side. And then throw in all the different products a seller has to go to market with, it can become an exhausting process. 

And of course, the competition from the platforms is the very large gorilla in the room. 

As for where to focus, this is the million dollar question, isn’t it? Six months ago, I would have said trade media is the surest bet. You have a niche audience, and multiple levers beyond sponsorships or ads to play with. Events! Webinars! Education tools! And while I think it’s still a decent bet, no matter the industry vertical, today, however, it’s a different story. No events, people are in webinar overload, and who has time for educational tools when you have a job AND you’re also now teaching your kids because they’re, like you, home. 

While every function of media is, as we’ve learned, not entirely stable, as long as you hit your numbers, you can have a solid career in ad sales. The trick is to figure out what you want out of this career.

Here’s my philosophy: the mechanics of the job, no matter the job—whether sell-side, buy-side, ad tech, journalism, whatever—are the easiest thing to overcome. As I like to say, the work is the work. You know how to do it, and do it well! Where you should focus: the people you work with. 

If you enjoy your work 50%+1 of the time, you’re ahead of the game. That’s what to keep an eye out for. Be in an environment that fosters collaboration, kindness, support. The last six months should have opened all of our eyes to the way we are treated at work. 

If you work for a company that doesn’t value you as a person, no matter the job function, get out. I’m hearing that a few media companies are starting to force their employees back to the office without a concrete safety plan. This is criminal. It also shows that leadership doesn’t value the employee, but instead the dollar. As a sales rep, I know you value the dollar; but if your company doesn’t value your life, why would you want to work there?

Ad sales is, the cliche goes, a people business. But it’s a multiple lane highway. It’s not just your relationship with buyers and marketers, but your own company. If you want to carve out a career that allows you to grow as a person, you need to find the company that will foster that approach. If you’re dialing for dollars, you will be treated just like a transaction. 

The bottom line: ad sales is hard, but think about the positive outcome of your role in your company. Your work directly allows for reporters to do their jobs. This is both noble and important. It’s easy to forget that as you stare at missed revenue numbers or getting reamed at by your client.

Reporters don’t say this, but I will: thank you.

I work at a Hi-Tech startup. Part of our marketing and media plan is that of an outreach plan where we pitch reporters on our technology, clients, clients success, and more (we work with major sports teams and leagues). My question to you is - do you feel that reporters in the tech and sports space are so inundated the current news cycle that this method of "cold emailing" isn't a good practice to keep anymore? Do you think that's a good/bad thing? -- Tech P.R.

Ah, media relations. I could write a dissertation on this. As someone who has sat on both sides of the pitching fence, I can unequivocally say it’s a tough racket. Especially at a moment when you can’t even buy them coffee or drinks. 

Reporters, the busy creatures they are, don’t want to be pitched; they want information. And they want information that no one else has. Reporters also want an interesting story. This is the thing P.R. folks often forget: interestingness matters! 

So pitching, especially cold, will more often than not get you poor results. Think about the value you can bring to a reporter. When I was in P.R., the placements I got for clients almost always came because I had proven, over time, to be a good resource for the reporter. They needed a source; they needed some background info; I gave them a tip. 

As a reporter, the best P.R. emails are the ones that show they read what I write, and can offer me something, again, interesting. 

Also, today it’s kind of easier as we have social platforms where we can talk with one another before sending a cold email. For instance, many P.R. people engage with me on Twitter, and when they send a pitch, it’s tailored to me and my interests. And they know my interests because we talk about it on Twitter. It’s a virtuous circle sometimes.

One thing I would strongly suggest: don’t fall into the trap of hiring a media relations agency. They are no good, provide little strategic value, and will cost you an arm and a leg. It’s easy to fall in love with a slick P.R. firm that will tell you they will get you coverage in the New York Times or Wall Street Journal. Don’t buy it. Build the relationship with the reporter yourself.  

And one last thing to consider when pitching a reporter: if you have a big brand attached to your initiative, it’s easier to get coverage through them. I’ve seen lots of ad tech companies get glowing coverage because they used their CPG client to talk on their behalf. It’s easier said than done, of course. Getting P&G to talk about how great you are is a challenge, but if you can provide a reporter with access to a brand, you’ll get a bit farther. 

What is the biggest hurdle to starting an independent media company?

I’m going to punt and just say “money.” Related: If there’s anyone out there with a few million dollars to invest, I do have an idea for a media company that I think will not only be culturally important, but also sustainable. Hit me up. 

In your opinion, what are the proactive and reactive factors pushing marketers towards in-housing? 

It seems like the biggest factor for in-housing, whether it’s programmatic or creative, is cost. While it may seem expensive to start, the long-term cost savings seem to be the most beneficial. Additionally, it cuts through the biggest challenge: owning your brand, soup to nuts. 

As the consultancies swoop into adland, one of the more interesting things to pay attention to is how they advise clients on whether or not they should bring stuff in house. Accenture and Deloitte, for example, each provide services to clients to help them bring programmatic in-house. Hell, in 2018, Accenture teamed up with the IAB to create a white paper about exactly this. 

And in January, RSW/US (a company that trains marketers to in-house, so keep this in mind) put out a report that found almost half of the agencies it surveyed (48 percent) expect the amount of work marketers manage in-house will increase. 

One way of looking at this: companies are starting to bring marketing services in-house because other companies are doing it. 

Another thing to consider: a company knows itself better than any agency partner can/will. So from that point of view, it makes sense for a brand to bring these capabilities in-house. Of course, the albatross around a marketer’s neck is making sure it doesn’t end up like the Pepsi/Kylie Jenner ad from a few years ago; you know, the one that, according to the New York Times, forced Pepsi to apologize

for a controversial advertisement that borrowed imagery from the Black Lives Matter movement, after a day of intense criticism from people who said it trivialized the widespread protests against the killings of black people by the police.

What this means for agencies is anyone’s guess, but I imagine many are trying very hard right now to figure out how to provide value and service in a world that finds their clients taking on much of the responsibilities agencies once provided.

And for marketers, the question becomes: how much do you want to own what you do versus how much you want to pay an outsider?

Thank you for allowing me in your inbox. If you have tips or thoughts about the newsletter, especially whether I should do another mailbag in the future, let me know. Or you can follow me on Twitter. If you enjoyed this edition, please consider sharing with colleagues or across your social networks.  

David Bowie, “Thursday’s Child”

Some interesting links:

For politics and social:

• Facebook will limit some advertising in the week before the US election -- but it will let politicians run ads with lies (CNN)

• The NBA's corporate sponsors donated $3.3 million to reelect politicians rated "F" by the NAACP (Popular Info)

For parents:

• Baby Yoda Returns as Disney+ Sets The Mandalorian’s Season 2 Premiere (Adweek)

• Remote Learning During Pandemic Brings Privacy Risks (WSJ)

For publishers:

• ‘A blueprint for what is going to happen’: Time’s Time 100 franchise on track to double revenue in 2020 (Digiday)

• 'Quartz' Nearly Doubles Subscriber Base In 1 Year (MediaPost)

For buyers:

• Advertisers Seek Right to Cancel TV Spending as Pandemic Roils Fall Season (WSJ)

For ad tech:

• Ad tech’s crusade against the free press (Branded)