A Revolutionary Way for Media Companies to Build Smart Proposals Has Arrived
Increase deal sizes up to 50% and shorten cycle times with Proposal-IQ
Media companies typically send out dozens of proposals each week and have less than 48 hours to respond to RFPs. This creates an enormous burden on media sales teams that need to obtain pricing approvals, conduct inventory checks, and complete multiple reviews as part of a highly manual process. For media companies with local and national teams, coordinating multimarket proposals adds even more complexity.
The quality of proposals can suffer as a result. Time constraints and repetitiveness lead salespeople and planners to pitch the same products, and their choices are often based more on familiarity and gut feelings than on performance data.
This tendency to overindex on products that are already known quantities is especially problematic when you consider that cross-selling and bundling are essential for higher revenue growth. The top quartile of fastest-growing publishers sell multiple products on 48% of their proposals, in sharp contrast to 37% of proposals among publishers overall. Incomplete visibility leaves money (and inventory) on the table.
What if there was a way to increase deal sizes, shorten cycle times, and boost inventory yield–without asking more of your hardworking sales teams?
All that and more is possible with the arrival of Proposal-IQ.
Proposal-IQ is a groundbreaking new product designed to help media sales organizations improve the quality of RFP responses while building proposals faster and balancing team workload. By suggesting the optimal media mix and media plan for each client’s objectives and tying into the media seller’s real-time inventory, Proposal-IQ drives larger deal sizes (typically by 30% to 50%), higher average products sold per order, and greater sell-through—helping media organizations grow their revenue.
Media planners and salespeople simply enter basic details such as the marketing objectives, budget, target audience, and campaign duration into the AI-based recommendation engine. Proposal-IQ generates a recommended media plan based on real-time inventory. By querying Boostr’s historical purchase and performance data and slicing it by variables such as client vertical and marketing objective, Proposal-IQ suggests the optimal media mix for every campaign and generates a client-ready PDF. Media companies can easily configure the recommendation engine for their unique rules and requirements; they can designate specific regions where they want to sell more of a specific product, for example. This ease of use means that not only can businesses capture new revenue opportunities, but the time to value for new hires significantly decreases. Once they have basic training in the intuitive Proposal-IQ system, new sellers can generate optimized proposals in minutes.
Proposal-IQ works across all media types and is truly omnichannel, whether your priority is linear + digital convergence, OOH + DOOH + digital, print + digital, digital audio + terrestrial radio, or multi-format digital. It is available as a stand-alone solution or for integration into existing CRM and OMS systems, such as Salesforce, Microsoft Dynamics, Operative, and, of course, the Boostr platform.
We built Proposal-IQ because we understood that media companies struggle to quickly develop proposals that meet client needs while maximizing their inventory yield across a growing, diverse set of products. Proposal-IQ solves for this by moving institutional knowledge into software so that ad sales teams can focus on the creative element of the response. And, since Proposal-IQ considers a publisher’s entire portfolio rather than overindexing on a handful of products, you can also expect more cross-selling and higher sell-through of perishable inventory.
We’re confident that Proposal-IQ will transform the way media companies operate, helping them capture new revenue opportunities and close them faster, while liberating sales teams from manual processes.
We couldn’t be more thrilled that Proposal-IQ is now available to media publishers that are ready to take advantage of it.
To lean more about Proposal-IQ, check https://www.boostr.com/proposal-iq.
Boostr is the only platform that seamlessly integrates CRM and OMS capabilities to address the unique challenges of media advertising. With boostr, companies gain the unified visibility necessary to effectively manage, maximize and scale omnichannel ad revenue profitability with user-friendly workflows, actionable insights, and accurate forecasting.Book a demo