Ok, the Big Game is over, we rated our favorite commercials and the snacks are nacho great anymore. Time to belly up to Monday.
If you are brand new to the niche magazine ad sales biz, it’s okay to not know every single term on the first day. The point is to learn as much as you can, as quickly ad you can. (That, plus learning your territory, sizing up your competition, creating integrated media packages and….don’t worry, we will get to that.)
Today’s lesson: Ad sales prospects often refer to SOV in Requests For Proposals (RFP’s) from my niche media clients. What exactly is SOV and how is it calculated? SOV stands for “Share Of Voice.”
To calculate SOV, first compare your ad to others’ advertising: What share of the total impressions will you deliver in a certain period of time online for them? For example, if there are 2 advertisers, the SOV would be 50/50. If there are 4 advertisers, the share of voice for one client would be 25% if all advertisers were given the same the number of impressions in the same period of time.
It is very important that all publishers know the details of their online stats to be sure that they can answer questions like this when asked. In addition, it is important that ad sales reps understand what SOV is and how it can affect their customers’ online ad campaigns.
Whether you are an experienced ad salesperson or a rookie, make sure you and your prospects review the data together and are both communicating in the same language.
Want to learn more, grasshoppers? Here’s some more of my posts about the wonderful wide world of ad selling:
Stop “Selling” to Sell More Advertising!
Why Should An Advertiser Buy An Ad From YOU?
3 Ways to Be a Social Media Ad Sales Superstar!
4 Universal Ad Sales Truths You Need to Know!
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More about Ryan Dohrn: Ryan is President of 360 Ad Sales Training, an internet & sales consulting firm focused on developing print and online revenue strategies for magazine publishers.
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Niche Media has created super niched-out events specifically for magazine publishers for over 12 years, including the upcoming Niche Digital Conference this fall in Nashville. We’ve helped pave the way for the era of boutique events that connect specific audiences and provide great educational, friendly and super-fun environments! Plus, Carl Landau – Niche Media’s Grand Poobah – just launched a blog all about creating and marketing targeted events – blog.NicheEventNation.com Check it out!
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