Chip Boyce offers a few tips for being ready for the turn-around in the latest edition of Association FORUM's CEOnly e-newsletter.

Even When It Comes to Ad Sales, a Recession is a Terrible Thing to Waste

By Chip Boyce

Times are bad. Ad sales are down in both print and electronic media. Event revenue is down. Attendance is down.

So, do you lie down and give up? Or do you take advantage of the opportunity for change? We like the second option. It is more challenging, more thought provoking more time consuming and perhaps more expensive…but it's also the better option as you reposition your organization for recovery.

Today's environment forces us to look for better ways to do what we do. We all serve a membership clientele, and we all need to understand what their needs are today, in 2009…post-banking crisis, pre-recovery and mid-pandemic…in anticipation of recovery. Have you surveyed your members recently? Have you asked right questions? This is no time to cut research. It's time to look forward. Indeed, this is an excellent time to do what you know is right for your association, even if the board has resisted it. Maybe you've made the business case, but it did not fly for political reasons. Now it will, because it did make good business sense, and because there's no time to waste. There is a terrific opportunity to therefore confirm your gut instincts and move full speed ahead. They made you CEO for a reason, right?

Among our own client base at Network Media Partners, we have already seen significant strategic change and repositioning relative to events, electronic media and publications that was politically impossible just 18 months ago. It's true: There is opportunity in this environment.

To turn your electronic communications into dollars takes data and a sales team that knows how to use it. Make sure you have access to detailed traffic stats and interaction. Be certain you know everything about your traffic…on your Web site, your listservs, your e-mails, your digital publications, etc. Track that information; it's gold. If you're not already, you will be tailoring messages to different segments of your membership based on the information you collect. The more qualified the recipient, the greater the value to the advertiser.

To further succeed with advertisers in these tough times, consider the following tips:

Digital magazines: Do you turn your leading ad-supported publication into only a digital version? We'd advise against it…for now. Advertisers don't value digital like they do print. However, e-mailing digital sample issues of this important member benefit to prospective members can be a very cost-effective way to tease membership. And if your sales team knows your plan, they can promote qualified bonus circulation to advertisers, which can mean incremental ad revenue.

Multimedia: Should you have videos on YouTube? If there is news related to your area of expertise that could be branded by you and presented on video, then the answer is yes, because YouTube videos create awareness, which can lead to membership growth and even ad sales leads.

Social media: If there is a Wikipedia page that relates to your expertise, you should be a key contributor. Similarly, if there is a Facebook or LinkedIn section in your area of expertise, you should belong. If your social media presence doesn't create immediate and direct ad revenue, it will soon.

Alliances: This is a time to partner with or merge with another organization, as alliances have the ability to lead to new publishing endeavors, research studies and industry events that may allow you to generate increased revenue for your association.

Affinity partnerships: Now is a great time to work the best deal. Deals that were impossible or too much in favor of the vendor 18 months ago look different now. If there are some member benefits you need to add to make membership more valuable, revisit them now.

Sales teams: The most significant source of non-dues revenue for many associations comes from publications and events. For the products that depend on advertising, exhibitors or sponsors, now is an excellent time to re-evaluate how you sell and who sells for you. It can be in-house or thirdparty. What's important is the right team that has the depth and expertise to help your events and communication pieces evolve in pursuit of maximum income. There are times when any sales team can be successful. In more challenging times like these, you can see who has been taking orders, who has built relationships and who knows how to sell. A sound sales effort is win-win. It is about educating the advertiser about the market and about the most effective way to present their product or service to your member audience. It is consultative. Call your sales team as a potential buyer. Talk to them. Do they get it? The opportunity for substantial change in products and how you sell them is now. The economic recovery may be here sooner than you think, and the opportunity created by this recession may soon be gone.

Chip Boyce is the President of Network Media Partners Inc. (previously Network Publications, Inc), a custom media company serving the association marketplace since 1982. Network is the sales agent for Association Forum.