One of the ways that startup publishers can perform their ad income objectives is by hiring the services of an independent magazine sales representative. Magazine sales representatives can de facto jump start a new title and put it on the fast track to success. However, there are a lot of pros and cons to utilizing their services.
So, you're probably wondering, what exactly do magazine sales representatives do anyway? In a nutshell, they sell or solicit advertising. I will discuss their duties and responsibilities in more information a microscopic later on. However, it's worth mentioning that utilizing an independent magazine sales rep for your publication can be both a blessing and a curse. When effective, your magazine sales rep can be a good vehicle for getting new ad accounts. The converse is that your rep could perhaps be a source of income drain-since you the publisher will be responsible for all ancillary costs associated with your sales rep's capability to perform his/her duties-with microscopic or no return on venture to show for all your hard earned dollars invested.
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So what can magazine sales reps do for you? Well, the lowest line is this; the former suspect that magazine publishers pick to use an independent magazine sales rep is to insure a steady ad income base. Quite simply, you can commonly hire reps and get them out into the store with no upfront money (or very little), office space, computer equipment, car or health insurance. All you essentially have to offer your sales rep is just a division of the new company that he or she brings to your publication. And with a start-up, as with any new company venture, minimizing upfront expenses is crucial.
Another foremost suspect new publishers use magazine sales rep firms instead of hiring a full-time sales staff is the hope of benefiting from the rep's existing relationships with advertisers and media buyers. In the final analysis, in expanding to having an informative well put together media kit; company relationships can play an foremost role in getting an advertiser to place an ad in your publication. If you're a new publisher trying to break into an existing category, you are de facto at a disadvantage no matter how great your idea. A magazine sales rep firm can build a buzz colse to your title fairly quickly. A sales rep can also act as a sounding board for your magazine idea. If your view is marketable, chances are the sales rep will want to work with you. If, on the other hand, it isn't, most magazine sales reps won't waste their time. So, if sales reps aren't returning your phone calls or seem otherwise disinterested in your publication, it might be a good idea to reevaluate your concept, mission statement and company plan. Of course, there can be any number of reasons why sales reps may reject your business; it could naturally be that they have too many other clients, conflicts of interest or even lack of feel in a particular category. However, by in large, magazine sales reps can serve as a good barometer for the viability of your concept.
It's foremost for startup magazine publishers to remember that magazine sales reps will not completely share the enthusiasm or be emotionally tied to a magazine like the publishers. The fact of the matter is that there isn't much of an incentive for sales reps to sell new launches. Most sales reps will have to work twice as hard, if not five times harder, to sale new startups.
Statistically speaking, magazine sales reps know that very few startups make it past their first year, let alone come to be commercially viable. In addition, it's typical for new titles to start off with a very small circulation. Since circulation and ad rates are interdependent-the larger the circulation, the higher the ad rates-the financial incentive can be very low. So, for many sales reps the time and exertion important to make it to profitability just isn't worth it. This doesn't mean that new magazine publishers won't be able to sustain the services of a magazine sales rep. naturally put, new publishers should be aware of the challenges that sales reps face and as a consequence, be prepared to offer generous incentives in order to entice sales reps to handle their publication. In addition, and just as important, you will need to furnish the allowable selling tools so your magazine sales rep can be productive at advertising procurement. Independent sales reps need sufficient materials to sell a title, just as staff salespeople do. So, at a bare minimum, this means having a expert media kit with store explore and clear and brief demographic data to back up the pitch. This point can't be overemphasized because it is your media kit, and not your magazine per se, that will ultimately seal the deal for the vast majority of advertisers!
It should be said that some publishers have an aversion to using the services of outsiders. Since independent magazine sales reps may sell multiple titles, they are sometimes accused of lacking loyalty or putting their own interests before the interests of the publication and essentially bleeding publishers dry with costly retainer fees and ancillary expenses. While some sales reps may over promise and under deliver, it's ultimately up to the publisher to specifically state the goals and expectations that it has for the publication.
If you do rule to work with an independent magazine sales rep, you may find that selecting the right someone is just as difficult as selecting any other type of employee. In reality, an surface sales rep's role and responsibilities are not all that separate from those of a full-time salesperson. It therefore pays to ensue the same rules and precautions that you would when hiring in-house staff. A appropriate interview process will save you a lot of time and headaches down the road. Some reps may try to make it appear as if you should be selling them on your begin but remember that you're entering into a partnership in which both parties need to feel comfortable and equal. Neither should feel pressured into making a decision. Be sure to call colse to and check references to see whom the sales rep has worked with, i.e. Talk to agencies and media buyers, etc. Remember, you're hiring someone based on his or her reputation in a determined market. If field references don't check out, you probably don't want that someone on your team.
As a publisher you should set up clear parameters for your magazine sales rep. Many publishers complain that they don't have as much control with independent sales reps. It's foremost to declare the terms of a company connection so both parties know what is expected. How often do you want to receive call reports? How often do you want the rep to check in? Some reps may find daily updates annoying but if that's what makes you comfortable, lay it out from the start so there won't be arguments later on.
Finally, try to set realistic goals for your sales rep. Don't expect to see results in the first month. Sometimes it can take between six and 12 months to originate new business. Also, be aware that your magazine sales rep may ask a retainer to cover the downtime. This number is commonly a draw against commissions which are typically 20 percent of the cost of a page; maybe less if the magazine is more established and will be an easier sell. A normal rule of thumb is that it takes 20 to 25 percent of the net cost of a page to de facto sell that page. Try to sustain in any place from 40% to 55% of your total page count for advertising but do so with the comprehension that you may not perform your stated advertising goals in year one. Finally, it is not mandatory that you pick a magazine sales rep in your city or state to solicit ads on your behalf. Holding these tips in mind will greatly facilitate your connection with an independent sales rep, increase your thorough ad income and put you and your publication on the road to financial success.
How to Get Advertising For Your Magazine