WESTERVILLE, OH, May 19, 2020 — A new annual study shows while some media sales/executive managers are optimistic about emerging from the COVID-19 pandemic in the next 30-60 days, the pressures of the coronavirus and sales environment are creating nearly historic levels of unhappiness and potential churn for media sales teams.
These are just some of the findings in SalesFuel’s “2020 State of Media Sales” Study. SalesFuel, a leading firm of sales, marketing, and management strategists, surveyed 820 self-identified media sales professionals in mid-April 2020 about the past year and current, unusual conditions. The results are a real-time eye opener to the current snapshot of the media sales environment.
PROJECTIONS ON EMERGENCE FROM COVID-19/CURRENT STATE OF REVENUE
About 35% of sales managers believe their April revenue drop will exceed 50%. For March 2020, 33% of sales managers expected a 20%-50% hit to revenue. Digital media sellers, those with revenues streams of more than 50% from digital formats, were gloomiest about March with 46% anticipating a 20%-50% hit to revenue that month. Keep in mind that the average media property counts on digital for about 30% of revenue overall. Significant data points about recovery from COVID-19 include:
- 21% of respondents expect the economy to begin to recover in June.
- 18% say July and 16% say 2021.
- At least 21% of print sellers say they don’t expect to see the economic recovery until 2021.
- For digital media selling, 24% also believe recovery won’t start until 2021.
Current State of Media Sales Professionals
April’s study data shows managers must be alert to rep frustration and stagnation. The data, some of it showing extreme job dissatisfaction, points to a possible upcoming “brain drain” and exodus out of the space. Significant data points include:
- 45% of media sales managers voiced their concern about a lack of general sales talent or competency. Digital sales managers, with a score of 58%, are particularly concerned about this topic.
- Some of motivational problems may stem from reps’ belief that it is harder to get new business (81%) or upsell existing accounts (70%) than it was last year.
- About 57% of media sales professionals say with complete confidence (a score of 9 or 10 on a scale of 1 to 10) that they will be working for the same organization 6 months from now. In the print and direct mail sectors, those numbers are 43% and 41%, respectively.
- Average Net Promoter scores for current employers are at 15.85 but for print and direct mail organizations the numbers are shocking at -15.4 and -5.48, highlighting the need for increased manager outreach coaching.
- Millennials are struggling. 69% of millennial managers are having trouble motivating their team members, versus 57% of all sales managers.
“What this shows us is coaching amid coronavirus needs to be greatly stepped up to retain talent and any new hires,” said SalesFuel CEO C. Lee Smith. “You simply cannot afford to get those wrong given the conditions.”
For more data on study results on opportunities by vertical, communication style challenges in prospecting, upselling and more, download our “2020 State of Media Sales Study” Special Report HERE
MEDIA CONTACT: Audrey Strong, VP Communications – SalesFuel [email protected] 614-318-3771
About SalesFuel®:
Named as one of the Top 10 Sales Enablement Vendors for 2020 by Selling Power Magazine, SalesFuel® was founded by C. Lee Smith in Columbus, Ohio in 1989 with a simple objective: Sales are the revenue engine of your company; we provide the fuel. Through our unique portfolio of sales tools, training, and intelligence, SalesFuel® provides thousands of sales teams nationwide with the power to “Sell Smarter®.” Smith is also named by Selling Power as one of just 6 Leading Sales Consultants for 2020 worldwide. In addition to consulting and training services, we also provide a portfolio of tools including AdMall, SalesFuel® API, Gitomer Learning Academy, SalesFuel® COACH, and our newest addition, SalesFuel HIRE, offering sales aptitude tests and sales assessment tests. Connect with SalesFuel® on Twitter, Facebook, LinkedIn, and Vimeo. For more information, please visit https://www.salesfuel.com