It's no Super Bowl party. The ads don't sell themselves.
NBC's sports sales chief, Seth Winter, has had to come up with new and creative ways to sell ad space for the Summer Olympics. The network, which is broadcasting the games, hasn't any advertising agreements with the sponsors, giants such as Coca-Cola, McDonald's, Visa and Procter & Gamble, Ad Age reports.
To get advertisers interested, Winter's team has segmented ad packages, selling strapped financial services firms sponsorships in retail banking or wealth management, for instance. TD Ameritrade, as a result, has signed on for wealth management advertising.
NBC reports that this new approach has so far resulted in $900 million in ad sales for the upcoming games. It sold slightly less than that during the 2008 Summer Olympics in Beijing.
Winter has a lot riding on his efforts. NBC's parent, Comcast, agreed to a $4.3 billion contract to keep the Olympics at the network through 2020. To make that profitable will require even more out-of-the-box thinking. (Ad Age)
Tesco Hiring Plans (WSJ via FINS)
The U.K.'s largest supermarkets chain, Tesco, has plans to create 20,000 new jobs over the next two years through new store openings and upgrades to existing stores. The move comes as Tesco looks to secure its standing as a top retailer in the country.
The Birth of a Sales Team (Adweek)
Condé Nast's technology news site Ars Technica, which has been kept afloat by Wired's sales staff, is getting its own sales team to bill it as "the biggest site you don't know about," says Ken Fisher, Ars' founder.
A Busy Man (New York Times)
Olaf Olafsson, Time Warner's 49-year-old executive vice president in charge of international and corporate strategy, is also a prolific author having recently published his fifth novel "Restoration."
New Myrtle Beach Target (Target)
Target is opening a new store in Myrtle Beach, S.C., in July. The 135,000-square-foot store is one of 20 Target will open this year and will employ about 200 people. Target will host job fairs in the region two months prior to the opening.
Myra Janco Daniels (Ad Age)
Ad Age celebrates Myra Janco Daniels, 86, who founded the Naples Philharmonic Center for the Arts after retiring from the advertising business in 1979. She was the wife of the late advertising veteran Draper Daniels, who inspired the fictional "Mad Men" character Don Draper.
Yahoo's Layoff Plans (AllThingsD)
Yahoo's new chief executive, Scott Thompson, may announce several thousand layoffs with a corporate restructuring. Folks in public relations and marketing are among those who may lose their jobs.
Economist Names Digital Leader (paidContent)
Oscar Grut, the Economist's managing director in charge of its tablet editions, has been promoted to managing director for all digital operations at the London-based news publisher.
Leaving Limbaugh (New York Times)
Rush Limbaugh's advertisers are cancelling placements in the wake of his calling a law school student a "slut" and a "prostitute."
Buzz Around the Office
A big fling.
List of the Day: Handling Criticism
Managers occasionally have to come down hard on their employees to keep things running smoothly. Don't take it personal.
1. If you are under constant scrutiny, step back and evaluate the validity of what is being said.
2. Keep an open mind and choose your battles carefully if you feel the need to fight back.
3. Keep perspective and focus on the future. Nothing is permanent.
(Source: AOL Jobs)