it’s better to have a monthly bill on account of the ease of contract. Confusing advertisers with numbers is the number one way to lose their business, so it’s important to simplify things and make sure the clients aren’t confused.
Austin, TX (PRWEB) February 27, 2013
Shweiki Media Printing Company teamed up with Ryan Dorhn, CEO of Brain Swell Media, on a webinar about the importance of businesses' properly pricing their digital assets. Dorhn warns of a widening gap between traditional and new media and claims that advertisers need to construct pillars to gain client confidence and bridge the gap. In this webinar, he explains the four pillars of sales success and the importance of proper pricing.
4 Pillars Of Sales Success
1. Have good products
2. Hire good people
3. Have a good process
4. Have a good price
Deciding on a Base Line Price--
Monthly vs. CPM:
The first step in deciding on a base line price is figuring out whether to employ a monthly or CMP (cost per thousand) business model. In a CMP model, a business tracks its advertising through how much it costs per every thousand ads seen. This could include posts on a social media page, website, flyer or email blast.
Though a CPM model is certainly efficient, from a sales position it’s better to have a monthly bill on account of the ease of contract. Confusing advertisers with numbers is the number one way to lose their business, so it’s important to simplify things and make sure the clients aren’t confused.
Pricing Online Hits
It’s important that business owners don’t get overly excited about hits, as they are generally an irrelevant way to track online success. Instead, hits are more of an overview than a selling point. There are page impressions and ad impressions; there are page views and ad views. It’s important to know how many visitors are coming to the site and how much time they are spending.
Growing Digital Value
Dorhn suggests that businesses looking to grow their digital value should look to improve on the margins they already have. If a business, such as the one above, specializes in social media, it should price its Facebook and Twitter as a total package instead of as an a-la-carte strategy. It’s good to build within successful niches and create (and charge for) super and hyper-niches. Growing hyper-niches both adds value to a business’s services, and also generates added revenue.
To watch the entire webinar, click here
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