A Positive Outlook for Advertising?
By David Feldman at 15 February, 2009, 8:15 am
68% of surveyed local advertising sales managers expect at least some revenue growth in 2009. The majority of respondents in the 2009 AdMall Local Advertising Sales Outlook – 35% of managers and 27% of account executives - predict 2009 sales revenue growth of 1 – 5 percent.
Setting aside the obvious local and national economic conditions, sales managers cited staff concerns – not competitive pressures - as their biggest challenge. Managers have to find ways to motivate sales teams and get salespeople outside their comfort zone in order to have a successful year.
When broken down by industry, advertising sales managers expect increased growth in several sectors, with the biggest increases expected in the healthcare, restaurant, and retail sectors.
“Once you get past the automotive sector and all the bad economic news we’ve been hearing, there are substantial pockets of opportunity for local advertising sales in 2009,” said C. Lee Smith, AdMall president and CEO. “Resilient and consultative salespeople will find success helping advertisers navigate effectively through the current economic climate.”
Other key findings:
- 19% of sales managers anticipate a decline in advertising revenues in 2009.
- 17% of sales managers expect revenue growth of 6 - 10% over 2008.
- 56% of managers and 45% of advertising executives expect decreased revenues from the automotive market.
In the 1980s, while still in law school, I bought a radio station in Daytona Beach, Florida. I pursued my career while my friend and partner ran it. We learned first hand the challenges of building local advertising sales in a supposedly booming economic times. This outlook is certainly good news, I like this optimistic stuff.
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