Last year represented a seismic shift in the advertising industry.
In 2013, for the first time in history, online advertising revenue exceeded those pulled in by television. Last year, online advertising saw an impressive 17% increase in productivity to hit $42.8 billion in revenue—far outpacing, for the third year in a row, cable at $34.4 billion and, finally, sailing past broadcast’s $40.1 billion advertising profits.
While broadcast and cable combined still take in more advertising dollars than digital media— about $66 billion in combined revenues— it seems inevitable that fact may only be temporary. As dollars are diverted from traditional advertising, broadcast and cable companies are already feeling the pressure to find or create alternative revenue streams. And with plenty of competition from affordable online streaming platforms like Netflix and Hulu, the answer isn’t upping costs.
Television companies must adapt to the new advertising landscape in order to be successful. The new, digital era demands a proactive approach, and those cable companies who can develop and execute an effective lead generation strategy will likely thrive in the coming years. Those who don't, however, could face insurmountable challenges.
If you don’t have a lead generation strategy in place, you’re already falling behind. But here are five critical actions that you can take now— for little to no cost— to help you catch up with the competition:
1. Online Advertising
If you're a cable company, you may think online advertising is the enemy. But that doesn't have to be the case. Online advertising can be a valuable asset if you use it effectively.
The most successful online advertising campaigns are those that are targeted to a specific audience and offer real value. Whether you're targeting new subscribers or potential advertisers, use language and headlines that speak specifically to that audience.
2. Social Media
Social media is a critical component of any lead generation strategy. Facebook, Twitter, LinkedIn, and other similar platforms allow you to connect directly with your audience. Use Facebook, Twitter, and even Instagram to connect with consumers and target subscribers, possibly with special deals. LinkedIn is a more professional platform that's perfect for targeting new advertising prospects.
3. Outbound Calling
Even in the digital age, some traditional marketing methods still work.
The fact is that there's no faster way to have a direct conversation with a prospect than by simply picking up the phone. An outbound calling company can used skilled calling professionals to reach out to potential subscribers and to convince them to switch to your platform.
4. Website Traffic
Far too many companies use their websites simply as sources of general information. But you should be making your website work for you. With the right content, your website can guide your prospects down a specific path towards purchase—without intervention from your sales team.
Use calls-to-action prominently on your home page to capture visitor information. Encourage them to try your company's cable service with introductory pricing and special offers. Once you have their information, you can then automate outreach them to pull them through your sales funnel.
Blogging is one of the most important steps you can take to generate new leads. However, far too few companies implement it properly. Blogging significantly improves your site's search engine rankings. It also helps you communicate directly with your potential subscribers and advertisers. Use your blog to answer questions that your subscribers and advertisers ask frequently, and even to answer questions that you wish they'd ask.
The Bottom Line
Cable and broadcast companies can't rely on a consistent stream of advertising revenue. Media is changing. To survive and thrive, cable companies must change with it. Think about how you can implement a lead generation strategy to expand your subscriber and advertiser bases.
RDI Corporation was founded in 1978 and is headquartered in Blue Ash, Ohio. We provide precise business solutions through a fully integrated outsourcing model and our clients ranged from mid-sized corporations to distinguished Fortune 500 companies.