Boostr Launches Proposal-IQ, An AI-Based Recommendation Engine for Smarter RFP Responses
Use of Proposal-IQ by Media Sales Teams Yields Larger Deal Sizes, More Products Sold Per Order, and Increased Sell-through
NEW YORK (PRWEB) SEPTEMBER 27, 2022
Boostr, the only pipeline-to-profits advertising management platform for the media industry, today announced the launch of Proposal-IQ, a groundbreaking new product designed to help media sales organizations improve the quality of RFP responses while simultaneously building proposals faster. 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, increases in average products sold per order, and higher sell-through—helping media sales organizations grow their revenue.
Media companies typically send out dozens of proposals each week and have less than 48 hours to respond to RFPs, creating an enormous burden on media sales teams who need to obtain pricing approvals, conduct inventory checks and complete multiple reviews as part of a highly manual process. Time constraints and repetitiveness often lead salespeople and planners to pitch the same products repeatedly, and their choices are often based more on familiarity than on performance data. Unfortunately, only 37% of proposals contain multiple products, yet the top quartile of highest growing publishers are selling multiple products on 48% of proposals. Cross-selling and bundling are critical to higher revenue growth yet hard to scale across a diverse sales team.
Proposal-IQ was designed to help overburdened media sales teams balance their workload while improving the quality of their proposals—which in turn lets their companies grow deal sizes, sell more products per order, increase overall sell-through, and 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, and Proposal-IQ generates a media plan with the optimal mix of products—all based on the publisher’s real-time inventory levels.
By querying Boostr’s historical purchase and performance data and slicing it by variables like client vertical and marketing objective, Proposal-IQ suggests the optimal media mix and media plan for every campaign and generates a client-ready PDF. Media companies can easily configure the recommendation engine for their unique rules and requirements—if, for example, they want specific regions to sell more of a certain set of products. 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.
“Media companies struggle to quickly develop proposals that meet client needs while maximizing the yield of their inventory across a growing, diverse set of products,” says Patrick O’Leary, CEO and founder of Boostr. “Proposal-IQ solves this by moving institutional knowledge into the software so that ad sales teams can focus on the creative element of the response. Media companies should expect higher win rates, larger deal sizes, and faster response times. And, since Proposal-IQ looks at its entire portfolio rather than over-indexing on a handful of products, it should also expect more cross-selling and higher sell-through of valuable inventory. This promises to be a truly exciting and valuable solution for media companies across all segments of the industry.”
Proposal-IQ will be available as a standalone solution or for integration into existing CRM and OMS systems such as Salesforce.com, Microsoft Dynamics, Operative, and the Boostr platform.
“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, increases in average products sold per order, and higher sell-through—helping media sales organizations grow their revenue.” - Patrick O'Leary, Founder & CEO
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