Build Lasting Ad Partnerships: The Case Against Transactional

Welcome to a Revenews takeover.

🦸 Today I’m handing over the reins to Shaan Chagan, who has some excellent newsletter ad sales experience

Guest intros aside, let’s dive in! 🚀

1. Newsletter News

2. How to avoid transactional deals

3. Newsletter people’s main goal

4. Inbox Banter

^{Build Lasting Ad Partnerships: The Case Against Transactional}

Hey there, I’m Shaan.

It’s funny. Dan and I have really similar backgrounds.

I worked in partnerships at The Hustle, closely with Sam Parr. After we sold to HubSpot, I took my talents to a creative agency, working with folks like Burberry, Kendrick Lamar, Kendall Jenner, and more, mainly on branding/creative strategy.

But in the background, I always knew I wanted to do my own thing. Which is where I am today. My agency, Wittier Labs, helps email publishers, newsletter operators, and media companies with monetization, newsletter content, design, and much more.

I'm excited for you to read this issue. It’s all about building long-term advertising partnerships ($$$).

I’ve worked with 20+ email publishers and newsletters totalling 18M+ email subscribers over the last year at Wittier Labs. One of the most common questions I get asked is how to build long-term advertising partnerships. Almost always, the problem is rooted in transactional deals.

Let me explain.

What’s up with transactional?

There are more newsletters than demand. That’s a fact. But technically that’s always been the case. In media advertising, there’s always competition. But what I’ve noticed is that most publishers are hungry for that next deal. That short-term revenue flow. You’re willing to discount aggressively, blast thousands of emails, close a deal as fast as you can, and then move on to the next.

Then they find themselves wondering, why won’t folks retain? Why is the performance bad? Why aren’t they satisfied? Where’s the revenue?

When you approach Ad partnerships this way, there’s no juice to the squeeze. There are too many relationships to manage, you fall into bad sales habits, and let customer service slip through the cracks. You can lose your audience's trust and gain a reputation among advertisers. Not a good one.

You need to think of these relationships as mutually beneficial – with a long-term lens.

Benefits of a long-term approach

The best publishers produce a ton of revenue from a roster of 10 - 12 main clients. They focus on what they need relentlessly, approach with genuine curiosity, are timely. But are also bold, and make big recommendations. The benefits of moving with this kind of intention equals larger budgets. But for you, that also means predictable revenue for your newsletter.

Of course, those aren’t the only benefits. You build serious trust with your audience, access to thorough client feedback (to make your Ad product better), and social proof opportunities. You don't have to deal with the constant back and forth with new partners, low Ad fill rates, lack of payment, and more.

It’s about being melodic

Now I’m not saying to move slow. I’m saying to move with intention. First, it starts with your industry knowledge. How much do you truly know about the business you are in? How can you consider yourself an expert? You have to get obsessed. Know as much as there is to know about your niche. Start small. That’s where you can win.

Build your ideal persona. Your dream list of Ad partners. Find them on social platforms, and engage with them – but be meaningful. Add to the conversation. Once the conversation is going, the work doesn’t stop. If you’re in talks for a partnership, use future and long-term language. “What could this look like down the line if we execute on, X, Y, and X?”

One of the most important parts of building a long-term partnership is communication. From the moment the paperwork is signed to after the campaign has ended. Be engaged constantly. Don’t let your account management and customer service slip. Those are the moments that can make or break you.

It’s also about challenging. Bring new ideas to the table. Back it up with industry knowledge. If you’ve never felt like you’ve left a partnership conversation without teaching something, then that’s a problem. And of course, go big! If you don’t ask for a long-term partnership, you’ll never land it.

It's hard, but not rocket science

Noom was the first client that made me realize that I could take this approach. I stayed in contact consistently with the Head of Marketing. Found out tons of metrics they were looking to hit. Gave them valuable materials showing how we could mutually benefit. Waited for the right budget cycle, with consistent touch points.

I initially closed the relationship on a small budget. Then went bigger and bigger and bigger. Eventually, it turned into a $2M relationship over several years with tons of creative assets, stories to tell, friendships built, and much more.

So take a step back and think about how you’re approaching these relationships. Is it mutually beneficial? Are you moving with intention?

Shaan.

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