Hostetler and Carr were told that merger and acquisitions within the industry made page growth impossible. They were also informed that even though the rate card was set at 75 CPM, rates could not be raised. Finally, the Health Insurance Underwriter editors were assured that a telemarketing effort and a once-a-year presence at the NAHU Convention comprised an adequate level of selling power. In spite of these assertions, Hostetler and Carr felt certain that HIU possessed substantially more advertising revenue potential.
HIU hands the advertising torch to Mohanna Mohanna & Associates, Inc. became the exclusive publishers’ representative for HIU in January 2005. They divided the nation into three territories and assigned each sales leader a territory. They also made targeted account lists, set personal appointments with advertising prospects, and conducted across-the-desk presentations with potential HIU clients nationwide. The staff of HIU, having intimate knowledge of the vendors in health insurance, was only too willing to provide direction and insights into a bevy of prospects while Hostetler and Carr assisted immensely in their advisory roles. Meanwhile, the Mohanna & Associates, Inc.’s Sales Support Assistant, Administrative Assistant, and Comptroller prepared the record keeping. After one year’s time, Mohanna & Associates, Inc.’s financial and administrative team noted that Health Insurance Underwriter’s advertising revenue had risen from $541,000 in 2004 to $1,232,844 in 2007. The leaders at NAHU insist on excellence and growth. To further support the HIU’s advertising sales effort, Hostetler and Carr have recently invested in a subscription to the eBasket? provided by IMS Ltd, Toronto, Ontario. The sales team now accesses eBasket? data to determine the largest advertisers in the competing magazines, as well as which advertisers are “missing” from HIU. HIU has claimed its gold medal Handing over the sole responsibility of advertising sales to Mohanna & Associates, Inc. proved early on to be an extremely profitable business decision. The HIU’s editorial team was now free of the advertising sales burden and able to concentrate on and improve the overall structure of the magazine. With the help of Mohanna & Associates, Inc.’s specialized advertising sales team, Health Insurance Underwriter received the revenue they needed to make each issue a “keeper.”
Mohanna & Associates, Inc. began to sell advertising for workspan in 1998. The publication’s advertising sales did not exceed $98,000 at that time. When Mohanna & Associates, Inc. assumed the reins of the advertising sales beast, it took off at full speed.
Simultaneously, WorldatWork’s management team dramatically accelerated its role of improving an already excellent publication. They supercharged the demand for workspan advertising through a number of proactive initiatives: 1. A complete redesign of the magazine 2. Preparation of an audit of circulation by BPA worldwide 3. The creation of an award-winning media kit 4. The ratcheting up of the content quality to an unprecedented level THE ACTION PLAN With this new arsenal of selling tools at hand, Mohanna & Associates, Inc. began first to isolate and identify new business prospects from three major sources: 1) competing magazines, 2) trade shows and exhibitions, 3) leads from existing advertisers. The publishers’ representative firm then initiated an advertising sales campaign that concentrated on personal sales calls in the clients’ offices, wherein cogent proposals were presented. Trade shows and conventions were attended. Lists of target accounts were created, and the accounts were approached. Promotional letters were sent out. Flyers were created and distributed. Targeted e-mails were utilized. The sales leaders at Mohanna & Associates, Inc. made use of the new media kit displaying the vast amount of workspan advertising opportunities in across-the-desk presentations. The nation was divided into East and West territories, and sales goals were assigned to each geographic sector. Mohanna & Associates, Inc. was delighted to add electronic advertising in the form of e-newsletters and banner advertising to its available offerings. The result from this continuous prospecting and expansion of advertising options was an unprecedented surge in advertising space from advertisers in these categories: Compensation, Benefits, Work-Life, Performance & Recognition, and Career Opportunities. WORKSPAN REACHES THE SKY In the first year of the advertising sales campaign, workspan’s revenue increased from $98,000 to $304,000. The Vice President of Communication’s original wish for doubling revenue was well exceeded—revenue was more than tripled. The magazine’s frequency was also increased from 10X a year to 12X. With more advertising options and increased chances for advertisers to run, a steady increase in advertising sales continued each year. Ubiquitous presence at trade shows and exhibitions also paid off. 50% of exhibitors at the annual WorldatWork convention now advertise in workspan. In 2005 WorldatWork’s investment in its publication and Mohanna’s perseverance in reaching and bringing in advertisers paid off. WorldatWork reached $950,000 in print and electronic advertising revenue. Now that the association has provided the IMS eBasket for the sales team, 2008 advertising sales should exceed $1 million. In workspan magazine, WorldatWork is committed to excellence and superior member service. By outsourcing advertising sales to Mohanna & Associates, Inc., workspan has become a financially self-sustaining enterprise.