Company Description

Founded in 1997, Cumulus Media is a leader in the world of radio broadcasting and general media production. As one of the prominent media production companies, the company is listed on NASDAQ with stock ticker CMLS. With a committed workforce of around 5400 employees, Cumulus Media deepens its network of influence and innovation.

Cumulus Media plays a central role in audio-first media and entertainment, consequently delivering premium content to over a quarter billion people around the globe every month. This robust reach encapsulates both the timing and place of the consumer's choice. Their content mix is thoroughly engaging, combining quality local programming with iconic, nationally syndicated media, sports, and entertainment brands.

The company's network embraces a large number of stations, with 434 owned-and-operated stations broadcasting across 89 U.S. media markets. This includes eight of the top ten media markets in diverse regions. Furthermore, Cumulus Media expands its influence through approximately 8000 broadcast radio stations affiliated with its Westwood One network, accompanied by numerous digital channels too.

In regard to advertising and marketing, Cumulus Media has positioned itself as a beneficial partner to advertisers. The company provides advertisers with personal connections, local impact, and an extensive national reach. This is made possible through broadcast and on-demand digital, mobile, social, and voice-activated platforms. In addition to this, integrated digital marketing services, influential figures, full-service audio solutions, top-tier research and insights, and impactful live event experiences are part of their comprehensive advertiser package.

A unique service offered by Cumulus Media comes in the form of their national advertising performance guarantees. This assures partners and investors on the reliability and effectiveness of the executed marketing strategies, making it the only audio media company to provide such a service.

Cumulus Media is a dynamic space that has finely intertwined the threads of radio, broadcast media, advertising, digital media, and marketing solutions in a compelling blend. Its national marketing solutions serve as a powerful tool in reaching a massive audience, making it a much sought-after institution for advertisers and consumers alike.

Sales Plan

Target Company: CUMULUS MEDIA

Company Overview:

CUMULUS MEDIA is a leading audio-first media and entertainment company, reaching a quarter billion people monthly through broadcast and digital platforms. They offer local and national advertising options and claim to provide performance guarantees for their advertising services. They operate with a vast network of 434 stations in 89 U.S. media markets owing affiliations with approximately 8,000 broadcast radio stations plus numerous digital channels(Source).

Pain Points & Opportunities:

• Guaranteeing Advertising Performance: CUMULUS MEDIA may struggle to measure and improve ad performance and audience engagement consistently across numerous platforms.
  • Opportunity: Introduce analytical tools or services that provide detailed and precise ad performance metrics and insights.
• Cohesive Brand Image and Strategy: Maintaining a cohesive brand image and strategy across all mediums might be a challenge for the company.
  • Opportunity: Provide branding strategies, tools, or services that can harmonize their presence across all platforms and strengthen their overall brand identity.
• Managing extensive network: Managing and coordinating their extensive network of stations can present operational challenges.
  • Opportunity: Provide solutions or services that improve communication, streamline administrative tasks, and enhance operational efficiencies.
• Digital and Mobile Platform engagement: The company might have difficulty engaging audiences and advertisers effectively on digital and mobile platforms.
  • Opportunity: Propose advanced digital and mobile marketing solutions that can enhance audience engagement and offer high-quality, data-driven ad solutions.
• User Data Privacy Regulations: The company might be struggling with user data privacy regulations which might affect their consumer insights and targeted advertising solutions.
  • Opportunity: Introduce solutions for data protection, compliance with privacy regulations, and strategies for maintaining deep customer insights under stringent regulations.

Sales Strategy:

1. Initial Approach
   • Reach out via LinkedIn to establish connections and begin understanding the company's unmet needs and challenges.
   • Share relevant industry insights and trends to show thorough knowledge and understanding of their market.
2. Build Credibility
   • Cite success stories from past clients in similar industries to showcase the effectiveness of your solutions.
3. Solutions Presentations
   • Demonstrate how your SaaS solutions can address each of their identified pain points. Make the presentations tailored to their needs, using relevant industry terminology and examples.
4. Trial & Evaluation
   • Offer a trial period where they can use your products to see how effectively they address their pain points.
5. Negotiations & Closing
   • Discuss pricing, contracts, and terms of service. Provide a clear ROI analysis to reinforce the value of your solutions.
   • Present a clear plan about how the implementation process will occur and the support they will get during this phase.
6. Post-Sale
   • Ensure continued support and regular check-ins to address any issues and build further on the relationship. Offer further training and enhancements as per the evolving needs.

Measure Progress: Regularly evaluate your sales team's progress towards reaching this potential client. Analyze outreach efforts, response rates, progress in discussions, and conversions.