Continuing from last week where we discussed “when” to start the renewal process, today we are discussing the process on “how” to prepare for an upsell at renewal time.
Let me first say that upselling should not only be limited to renewal time. At any point when you uncover a need or the client has given you buying signs, you should prepare and present your plan that includes the upsell.
As we suggested last week, the renewal process should begin two to three months before your current agreement ends.
First, ask your client to set up a time to discuss “their” coming year. When requesting this meeting, choose your words so that the meeting is about them and their business, not about you and your advertising proposal. Say something like, “Mr./Mrs. Client, before we talk about your advertising plans for next year, I would like to set up a time to visit with you about what you think your business will look like in the next 12 months, what your plans are, what your goals are, and look more closely than ever on how to achieve those goals.”
After you have conducted this meeting, and any subsequent planning meetings, you then need to come up with a plan, including the “ideas” that will make your client consider investing more dollars with you and your station(s). Simply asking for an additional investment with no reasoning other than that you’re a rock-star media rep, and radio is a great medium, will generally fall on deaf ears and get you a NO to your proposed upsell.
I said generally. This doesn’t mean that if your client is receiving tremendous success from their current plan that they might not consider adding to their current program. They might! We’re only suggesting that if you have “ideas” it will make it far more enticing to say YES!
Here’s the icing on the cake that will impress nearly every business owner. Create an “Annual Re-cap” of their advertising agreement with you and your stations. This should be done just as you would with a formal multi-page proposal to include a cover page, their prior-year agreement/contract, the total number of ads they received, any promotional support and the value, copies of any photos or media coverage from events or promotions they held, and every script they ran throughout the year.
When you finally get to sit down with your client and make the renewal presentation, start with the annual re-cap. Then, under a separate proposal, move on to your recommendations with the upsell for the new year.
Showing your clients that you are interested in their success by preparing and presenting in a professional manner, and going the distance that most other media reps are not willing to go, will greatly increase your chances of getting your client to say YES to your upsell!
I recently had a conversation with a media rep who has been successfully selling radio for a little over two years. She indicated that she was renewing nearly 100% of her annual contracts, however, she was not having any luck at all in upselling her clients.
After probing with a few more questions, I asked her the ultimate question, “When and how are you starting the renewal process?” In this week’s topic, we will focus on the “when”. Like many reps, she explained that she makes her renewal presentations two to three weeks prior to the contract “end date”.
I then asked her why she had decided on this two to three-week time frame. Her answer, which matches many other reps that I’ve had this same conversation with, was “I don’t want to come across as being too pushy”.
I can understand her stance on this. I too will go to extra lengths to not come across as being pushy. However, I really cannot think of a situation where the timing of making a presentation will come across as being too pushy.
So, when should the renewal and upsell process begin? I would suggest that you “start” the process a maximum of 3 months out and a minimum of 2 months out. Why so far out? Let’s be honest, how many times have you approached your client saying you’d like to present next year’s plan and the first thing they say is, “I’m too busy. Let’s look at it in a few weeks”. They’ll say this or provide some other objection whether it’s three weeks or three months prior to the end of the contract.
When you started the process only weeks in advance of the contract date, how many times did the client ultimately end up saying, “Let’s just do what we did last year.”?
The fact is, if approached correctly, starting 2 to 3 months out will allow you to be less pushy than if you start only weeks in advance.
There is much more to the proper process of getting renewals signed on time, especially when asking for an upsell. We will save that for next week.
Until then, as you approach renewals of your current contracts, keep in mind, the early bird has a much better chance of catching the worm!
While interviewing prospective media sales reps and visiting with seasoned sales reps, every once in a while I meet people who proudly proclaim their strength to be, “I’ve got the gift of gab.” They say this as it’s a strength instead of a potential weakness.
In sales, the “gift of gab” can oftentimes be more aptly described as “the curse of chatter”, or more to the point as someone that “doesn’t know when to shut up”!
Successful sales professionals know that sales is really more about listening than it is about talking.
Those with the curse more often engage in product-feature speak than they do in providing customer-focused solutions or opportunities.
Customers don’t care how much you know until they know how much you care….and caring is demonstrated by listening.
Listening is by far the most important skill a sales professional can learn and practice. The salespeople who annoy and alienate prospects the most are those who claim to be good listeners but follow every customer objection with a “yah, but…..“
There is no room for the word “but” in a good listener’s vocabulary. To be a professional listener you need to:
1.) Be Prepared. Earn the right to ask questions by learning something about the prospect’s business before you make a call.
2.) Ask open-ended questions that encourage the prospect to express their views and feelings.
3.) Demonstrate you are listening by taking notes. (Always ask permission to take notes, i.e. “Your input is important to me; do you mind if I take a few notes?”)
4.) Paraphrase and summarize what you hear. Don’t start a debate.
5.) Use the language and needs you hear the customer express when you make your presentation.
6.) Make certain that every benefit you present relates to a need you heard the prospect express.
There is a lot more money to be made being interested than there is in being interesting.
So, instead of proving that you have the “gift of gab”, shut up and… Just Listen!
Radio Show 2020, the virtual rendition, kicked off yesterday and continues today through Friday.
As we mentioned last week, ENS Media made a virtual presentation on Recruitment Advertising titled, “Turn Radio Recruitment Advertising from Ho-Hum to Major Income”. View it now by clicking here. The registration fee is $50 and $25 for RAB members! This small registration fee gives you access to all speakers and sessions of Radio Show 2020.
If you choose to view our presentation, we suggest that before watching it, you print out the worksheet and the points of emphasis page. Those can be found by clicking here. You’ll also find the link below the video screen when loading the presentation.
After watching the video, if you would like to receive a FREE sample of a proven recruitment proposal and schedule, simply reach out to us by email at [email protected]
Rick’s Pick of the Show: If you choose to attend the virtual Radio Show, I strongly suggest that you view futurist and author Rishad Tobaccowala’s topic, “Re-inventing Leadership with Heart and Soul” (Tuesday at 2 pm EST). Rishad is a very dynamic speaker and his message is spot on for leaders. I also highly suggest his book, Restoring the Soul of Business. I consider this one of the best books that I have ever read on leadership and management.
Finally, if you would like to visit about how you can incorporate successful recruitment advertising into your sales portfolio and turn it into major income, click here to arrange a time to visit.
If you haven’t already heard, this coming Tuesday and Wednesday is Amazon’s “Prime Day”. Prime Day is normally held in July, but because of COVID was postponed until October.
If you have been a reader of ENS on Sales over the past few years, you know our stance on Amazon and it’s Prime Day. Since I took over ENS Media and well before, I have preached every chance I get about the effects Amazon has on our local businesses and our cities, towns, and communities.
I know that not everyone will agree with this stance and you will choose to not participate in airing ads that oppose “Prime Day” and Amazon. We respect your choice but keep in mind, this isn’t so much an attack on Amazon as it is standing up for your local businesses and communities.
The goal of airing this ad is two-fold: One, if you can get a handful of people to stop buying on Amazon, it will in-turn help your local businesses and therefore help your communities. Two, it shows your clients and prospects that your station(s) are standing up and fighting for them. For many, you are fighting for their survival. They will LOVE you for doing this.
We hope that hundreds of you will choose to air this ad in support of those businesses that support you with their local ad dollars.
To request the script “Don’t Do It”, click here and we will send it to you immediately. Feel free to edit this script any way you see fit.
So that we can estimate how many stations are airing these, in your request, please note the number of markets and stations you will be airing these on.
In addition, if you have thoughts or comments on this topic, and if you receive any feedback from your clients, please share them by sending me an email at [email protected] or call me at (605) 310-2062.
We hope that you will “Do It”, and in return on October 13th & 14th, many of your listeners “Don’t Do It”!
Thank You for Supporting your Local Businesses and Communities!
