Ho, ho, ho! If you are a publisher, you are probably due for a very happy New Year. For many of us, 2017 was the year we mastered the art of banging our heads against the wall. After all, any organization that merely touched publishing probably felt a pinch.
But let’s be honest. In today’s modern economy, it’s HARD to make a buck. Even companies like Google can never get too comfortable because there will always be an “Amazon” looming over them with a competitive offer, such as a shiny, new ad portal. Or maybe Bill Gates said it best (and Apple proves this point): “Success is a lousy teacher. It seduces smart people into thinking they can’t lose.”
But who are we kidding?! Thanks to this creepy economy, you’re probably not comfy at all! There’s no magic answer to instantly getting rich, so that means you have to be smart instead of lucky.
While it's easy to focus on whatever it takes to make money, you may find it easier to do a quick nip and tuck on your expense list. After all, most great financial decisions start by taking baby steps into “the black” - but don't worry: these three profit-boosting pick-me-ups are nowhere near a facelift.
1. Swap out "The Big H" for a comparable (and more affordable) marketing automation and lead generation solution.
Did you know that there are hundreds of HubSpot look-alikes out there? In fact, even some publishing CRMs offer similar features like website visitor identification, built-in business directories, lead scoring, and reseller programs.
While there are dozens of reasons publishers use HubSpot (including email), it's important to recognize that "she's not the only hot girl in town". Several comparable solutions cost a fraction of what they charge. And the best part is, many of them offer a free trial test drive - even before you fork over your credit card number.
2. Implement a “gateway” between your publishing CRM and accounting system.
While implementing anything sounds like a new tech expense, the savings generated from syncing both systems are HUGE; they just technically show up under a different ledger, known as “labor”.
Assuming your publishing CRM already handles the granular complexity of bulk multimedia contracts, recreating the same exact invoices within an entirely separate application can be painful and create room for error. In fact, even if you wanted to torture your bookkeeper each month, this tedious, duplicated work equates to days of wasted work - not hours.
Since many publishing CRMs can directly import all of your billing data directly into your accounting app (e.g. QuickBooks), it's a little crazy NOT to go for it. Even simple details, like contact data, can get updated in your accounting system this way, so it is entirely worth asking your vendor about it.
3. Consider breaking up with your boring "significant other" CRM
Chances are, you spend more time with your CRM than with your spouse, boyfriend, or girlfriend. So here's the big question: after all this time, do they understand what you do for a living?
No matter how comfy you get when using the big “S”, you might be impressed by what a custom-tailored publishing solution can offer you. By efficiently connecting your RFPs, contracts, ad orders, and invoices, you will end up with one hot little package.
Moreover, since a CRM is a big ticket investment, you'll want to milk the maximum value you can from it. If you like using Salesforce, it's worth mentioning that plenty of publishing CRMs offer the same sexy little opportunity portal with projections. Furthermore, sticking with Salesforce requires paying for another ad order and production app. Considering this could potentially double your tech budget, it puts a big ding in that cookie-cutter relationship.
Consolidate & Save
The good news is, modern publishing CRMs can offer the same "big name" functionality while also optimizing other aspects of an ad-based revenue model. Once you consider the thousands upon thousands you could save, reaching out to vendors starts to feel worthwhile - and we’d love to hear from you.