Borrell Shares Tips on Making Move from Media Company to Marketing Agency
January 13, 2014 | Contributed by: Joe Morsello
During last week’s webinar with Gordon Borrell, CEO of Borrell Associates, he shared insight into the evolving local media space, specifically the transformation of media companies into marketing agencies. With publishers rushing to meet SMB demands to buy SEO, social media management, reputation management and other services, their business is fundamentally changing. Instead of selling high-margin media products, local media pros are now selling less-scalable marketing services.
When it comes to profitability, Gordon provided some best practice examples of companies that went from traditional media company to a successful digital business which included LSA members Mediative and Web.com. He also provided some great insights and advice that can help local marketers become more digitally savvy:
- By 2018, consumers will curtail their media time by 19 minutes, effectively saying “enough!”
- 64% of SMBs are “very” or “somewhat” optimistic about near-term (12 months) improvement to the local economy.
- SMB marketing budgets were up 10.7% in 2013.
- On average, SMBs get 5 sales calls per week and listen to only 1 of them.
- 42% of SMBs pegged digital media for more spending.
- Online spending is an energizer bunny; it keeps going and going.
- 70% of SMBs use FB, compared with 64% two years ago.
- 85% of SMBs say mobile presence is important, yet only 19% engage in mobile marketing.
- When it comes to evolving from traditional media:
- Know how much you’re chasing; set goals
- Partner. Don’t go it alone
- Build slowly; don’t invest heavily
- Expect profitability (almost) from the outset
- Train, train, train reps. Then train them again
Check out the entire presentation below:
For access to all of our past webinars and a look at what’s to come, visit http://bit.ly/LSAwebinars.
Tags: Borrell Associates, Gordon Borrell, Local Search, Local Search Association, LSA Webinar Series, marketing agency, marketing services, media sales, reputation management, SEO, SMB, social media, transformation, webinar