Your Best Investment in 2010

          An investment in yourself, your tools and your career makes huge sense in the new economy. Why?

• An investment in yourself stays with you forever, long after you have left your current position.

• An investment in yourself gives you a competitive edge over your external and internal competitors.

• You control the return on an investment in yourself.

Here is my top ten list of investments you can make in yourself to succeed in any economy.

1.) Training – The media world is changing, and like the old cliché says, “Whatever got you where you are today won’t be enough to get you where you want to be tomorrow.”
2) Finances – It is hard to think when your knees are knocking. Get your financial house in order no matter how much effort or sacrifice you have to make.
3.) Breath Mints – You are a brand and the way you package and present yourself is part of that brand. An investment in good grooming and apparel creates a powerful first impression for your personal brand.
4.) Thirty Dollar Consultants. Make a point of reading at least one business book a month to keep your industry knowledge ahead of the curve.
5.) Accoutrements – Everything you carry or use, from your pen to your car, speaks volumes about the way you feel about yourself and your career.
6.) Networking – Membership in strategically selected clubs, like Chamber of Commerce or Ad and Sales Club can be fun, educational, provide great contacts, and enhance your social life too.
7.) Health – Joining a fitness club or investing time in a daily workout will improve your physical and mental capacity.
8.) Spirituality – Whether you get your satisfaction from  family time, religion, charitable work,  or any other aspect of your life that makes you a contributing member of society, you need to invest in a balanced life to have a successful career.
9.) Online –  Consider developing your own website, blog or newsletter to become known for what you know, or subscribe to services like our SoundADvice to do it for you.
10.) Vacations A vacation is an investment in your health and your career. You’ll come back refreshed, re-charged and with some brand new ‘out of the box thinking’ that will dramatically enhance your productivity.

          You are the biggest benefactor from an investment in you. Regardless where the economy goes, you will never regret investing in yourself.

Start the New Year Right!  

            You probably read my ENS on Sales in late November about the debilitating effects ‘holiday head’ can have on your sales.  Equally damaging can be ‘holiday hangover’.
            Your first sales meeting in January is absolutely critical to jump-starting sales and setting the scene for the coming year.
           In a survey we conducted, 89% of sales reps felt that their sales meetings were "usually a waste of time".
            The irony is that properly planned and focused sales meet­ings can be one of the highest-leverage management tools you have.
             We recommend you use this week to planned a New Years kick-off that will achieve four major objectives for you; communication, training, motivation and entertainment…. yes, that’s right, entertainment!
            Planning to always communicate something "new" at every sales meeting dramatically reduces staff boredom and encourages enthusiastic attendance.
            I contact my clients once a week with the proverbial "what’s new?" question.  I’ve learned that if the sales manager goes on and on about the new and exciting things going on in their organization, I know their sales will be on track.  On the other hand, if they talk about problems and have no new solutions, I know I have a problem client.
            In terms of training, everyone can learn from everyone else in an open forum meeting or through role-playing situations.
            The sales meeting is also the ideal place to consistently reinforce and promote the company’s mission statement or the battle cry.
            Last but not least. . . "Entertain".
            Communicating with a client, customer, team, or your own kids, is ineffective if your presentation is boring and lacks interaction.
            You can find our Ten Do’s and Don’ts of Effective Sales Meetings on our website http://www.wensmedia.com/media/free.html.

There IS a Light at the End of the Tunnel!

          There is cautiously optimistic economic news on the 2010 horizon. Even the most pessimistic of forecasters believe we’ll be on the road to recovery, although it may be a slow and jobless recovery.
          But here is the real ‘news’. At the depth of the recessionary trough, it was believed the impact was so severe that all consumer buying patterns would be changed forever. But various new research reveals there will not be one homogenous post-recession buying behavior.
          Decitica Marketing Strategy and Research, for example, has identified four distinctly different consumer buyer types which will emerge from the recession;

• Steadfast Frugalists (20% of the population),

• Involuntary Penny Pinchers (29%),

• Pragmatic Spenders (29%) and

• Apathetic Materialists (22%).

          The Decitica report identifies Pragmatic Spenders as the most attractive group for marketers. This group skews older and towards upper income and has the greatest psychological and financial capacity to resurrect their spending patterns.
         The Steadfast Frugalists, primarily in the 40-49 year age group, are the most disciplined in their behaviors and are seriously committed to self-restraint as a result of their recessionary experience.
         The Involuntary Penny-Pinchers are the most severely affected, financially and emotionally, by the recession and begrudge the fact that their financial situation forces them to always compare prices before buying.   
         The Apathetic Materialists are largely in the 21-29 age group, although some are in the 30-39 demo. Apathetic Materialists are less perturbed by the recession and least changed in terms of their future spending habits. This is largely because of their age and the amount of time they have remaining to recover and accumulate wealth.
          So what does all this mean to radio marketers? You know the best time to capture share of mind and share of market is before the consumer is ready to buy, before the next boom..….i.e. NOW!
          Radio account executives who help their advertisers to promote on the leading edge of the recovery, and who help them strategically target the appropriate buyer group will foster strong, long–lasting relationships as their clients grow.
          This is your last ENS on Sales for 2009.  We hope you benefit from these free weekly tips, and wish you a very happy, healthy and successful 2010.
          If your New Year’s resolution is to lead the pack in the upcoming recovery, contact [email protected] to discuss how we can help you increase your revenues. 

Timing Is Everything

          Killing time can murder your future.
          During the next few weeks, many sales reps will catch the holiday spirit; a spirit that can cause them to ‘kill time’.
          We have all heard the excuses for slow bookings in December.  Excuses like;  “My clients are too busy with Christmas sales to see me” or, “I’m too busy servicing my retailers and making copy changes in December to make long-term proposals.”   There are many more excuses, but let me give you a dose of reality. 
          We monitor thousands of advertiser responses to our SoundADvice radio e-marketing system every week.  Last week, we noticed a marked increase in advertisers requesting proposals (RFP’s) for the period between now and January 8^th.
          We surveyed some of the advertisers requesting proposals and discovered several trends, including;
   ·        72% of non-retail business owners (i.e. lawyers, landscapers, insurance brokers, etc.) said they use the slow December period to plan their next year.
   ·        69% of all of the RFP’s generated by our SoundADvice wanted either;
                  a.) “something different”
                             or
                  b.) “something cost effective”
By the way, if you aren’t super-serving your key accounts, the “something different” they may be considering is be dropping your stations!
          So here is the bottom line.  While your competitors are ‘killing time’ and have ‘holiday head’, the timing is right for you build your future and capture more 52-week orders over the next five weeks!  

P.S. You also need to present NOW or sooner for the Boxing Week sales and January Clearances.  And, what about the New Year’s Resolution Market?  Most consumers will resolve to get fit, quit smoking, eat healthier, take a night course or learn to paint or play guitar between December 26^th and January 30^th.
These are emotional decisions your clients can influence on radio.

P.P.S. If you want your station to generate more RFP’s in 2010 and beyond, click here to arrange a free on-line demo of the SoundADvice radio e-marketing system.  SoundADvice may be the ‘something different’ or something cost effective’ your station needs in 2010.

75% of Selling Occurs After 

the Advertiser Says ‘Yes’

          Last week we discussed the fact that your customers demand value for every investment they make.  And we explained the value equation and how important it is that you manage both the customer’s expectation and the customer’s experience.

.Value = Customer Expectation  +  or   –   Customer Experience

          Make no mistake about it, value is never received, only perceived and you can manage that perception.

          There are so many variables in the marketing mix,  variables like weather,  competitor’s campaigns, sales staff attitudes and more, that none of your clients can say with certainty that a campaign did or did not work based solely upon your advertising.

          It is up to you to create the perception of value by establishing realistic expectations upfront, then over-delivering after the sale.  In our Guided Discovery Selling process, we have proven that 75% of selling occurs after the order is signed.  In other words, always under-promising and over delivering.

          We use two primary tools to manage the customer’s experience after the sale.  One, is our Critical Four Questions.  Once a month, review each of your accounts and ask yourself these four questions;

1.     What is the last Valid Business Contact I had with this client?

2.     When was it?

3.     What is the next Valid Business Contact I am for this account?

4.     When will I do it?

          A Valid Business Contact is defined as anything you do that benefit’s the customer or increases their sales.  If the answer to number 2 or 4 is ‘longer than 30 days’ you are not managing the customer experience.

          The other tool we use to manage the customer’s experience is our Post Campaign Analysis.  Conducting a Post Campaign Analysis places you miles ahead of weak-kneed competitors who do not have the confidence in what they deliver to ask their customers what worked and what did not.

          Of course, the other advantages of conducting a Post Campaign Analysis are;  

          a.) You learn how your client measures success

          b.) You learn how to make each campaign better than the last

          c.) You appear more professional and customer-focused

          If you don’t currently have a Post Campaign Analysis process, you can use the form on our website www.wensmedia.com or click on http://www.wensmedia.com/media/free.html

P.S. Our SoundADvice e-marketing system gives your clients and prospects a Valid Business Contact every week!  Click here to arrange a free on-line demo.