Digital revolution is visible in every industry, and this applies to the media and entertainment industry too! Print, radio, and television are reinventing themselves reaching the millennial who are available on social media channels.
An increasing number of users prefer to use an alternative means for accessing their digital data. Cables, DVD, MP3 have seen the transformation that digitalization brought; pushing traditional media companies into revamping their strategy of growth.
Why does the media industry require CRM software for achieving success?
To tap into the digital growth today’s market has to offer, media industries need digital products that can be customized and integrated as per the user requirement. One such software for streamlining the business process of media and entertainment industries is a customer relationship management system.
With the pace that digitizing is hitting every industry, businesses need to revamp their client-facing strategies and a CRM intuitively resolves various challenges that come with this change.
Being creative industry, users like to experiment and ideate, however, this is not possible with sales process as it follows basic rules of user engagement and any faulty experimentation can push their business away from the customer base.
“CRM software enables business owners in balancing the creative and business aspects of a company”.
Professionals in the industry need to multitask in order to create something engaging for the viewer, satisfy their clients and generate revenue to regulate the business revenue.
Challenges that Media Industry Faces
Let’s talk about the challenges that the media and entertainment industry faces while keeping their revenue cycle fueled up with meaningful deals in the sales pipeline, at the same time creating attractive content.
1. Up-selling and cross selling
For a media industry, the information of their advertisers, subscribers and website visitors is their most valuable asset.
- Leveraging the information in the right manner allows them to make the best of their company’s future.
- Yes, we are talking about using this information for doing cross-sell and up-sell and what better than a Media CRM system to help them out.
- Understanding the core reason behind why the subscribers would follow their social media pages will allow them to establish a strategy to sell their brand on digital media. Understanding the likes, dislikes, and characteristics of the audience allows media and entertainment organizations to make better sales strategies.
Based on the same data, these organizations can plan to approach more subscribers in other events such as via posters in a movie theater or being present in successful social exhibitions that attract the crowd that is a perfect fit for their brand.
2. The changing pace of digital
- Be it audio-visuals or hoardings or banner image promotions, the content that is created for attracting the target audience has to be backed with solid information on the target customer base.
- It is not about the subscribers, nowadays, it is about the brand.
- Simple reason being that their brand value attracts subscribers automatically and if they create engaging content, pooling in advertisers to make better deals with their brand becomes easier.
- With an engaging website, social channels, attending conferences, and organizing a related exhibition, these businesses can strengthen their bond with readers and subscribers, automatically.
- CRM software allows seamless monitoring of the social content and tracks the manner of engagement they have with the target audience.
- The software also creates reports based on several criteria so that the business owners and upper management use for measuring the result of their effort and make better content for the future.
- With a centralized system for monitoring and developing their client relation, media CRM systems enable these organizations to track all the interactions their brand has with the customer.
All the members in the sales team must always be prepared for keeping the sales funnel intact and filled by tracking content interactions, recording communication detail, maintaining customer history, assigning follow-up tasks.
Major problems media sales professionals face:
- Managing the customer database
- Managing their sales cycle
- Identifying buying behavior
- Collaborating with individual team members
- Managing the prospects
- Managing deals
- Maintaining the close ratio
- Reaching the right target audience
- Scattered information
How can the media industry overcome these challenges?
Having a CRM software to backup the sales success strategies allow the media industry to carry out their business tasks with easy multi-tasking using various sales features; benefiting the sales revenue cycle.
Benefits of using CRM for the media industry
- CRM for the media industry allows users to coordinate their resources with effortless prospect and advertiser data sharing.
- Real-time notification for every activity that takes place regarding a deal, a content or an advertiser.
- Monitors your sales teams’ overall activity that has done towards achieving sales goals providing them with the ease of measuring the effectiveness of their sales reps.
- Generate reports about any campaign using any parameter. With a streamlined process, it gets easier for making data-driven decisions for a better sales cycle.
Customer relationship management (CRM) software for the media industry manages its customers, deals, and outreach activities. In addition to that, it keeps track of the campaigns and the reactions they are receiving from the target audience.
CRM for media & advertising collates and stores big-data converting it all into a piece of information that can be fetched from any device and from any location.
Concluding Thoughts. . .
Salesmate CRM for media and advertisement is one such software that enables its users with all the required features and smoothens the sales process. With the automation of basic sales tasks and easy to create reports, Salesmate CRM is the best choice for the media and entertainment sector.
A media CRM software simplifies your complex business activities addressing all the pain-points by streamlining sales processes and keeping the sales funnel filled. If you want to know more about our services and features, do get in touch with us and we will be happy to respond back.