Yearly Archives: 2021

SOV = SOM = SOM  

If you’ve worked in media sales for any time, the formula SOV = SOM = SOM is not new to you.

For those of you that have not seen this before, let me explain and then discuss why we should make sure every business owner understands it and why it is still relevant in today’s new media world.

Share of Voice (SOV) is the percentage of media spending by a company compared to the total media expenditure for the product, service, or category in the market. Share of Mind (SOM) is the level of Brand Identity or TOMA/Top of Mind Awareness that a business has amongst its competitors in the market. Share of Market (SOM) is the percentage of the total amount of business being done in a specific category within their market.

In simple terms, the greater the amount of SOV a specific business has the greater the amount of SOM, or TOMA, they have, and then ultimately the greater amount of SOM they have. Of course, there are underlying factors that can cause Share of Market to be swayed one way or another, but that is for another article.

Having this conversation with your clients and prospects is important for two main reasons:

  1. Most business owners do not equate their share of the market like this. At best, they simply know “which competitors” have “what share” of the business within their market. They don’t necessarily know “how” they got it.

  2. Getting them to understand that having a greater Share of Mind is the end goal to having a greater Share of Market.

In the twenty-four years ENS Media has been conducting TOMA research and surveys, this formula rarely ever fails. The business with the largest and best Share of Voice (SOV) has the greatest TOMA or Share of Mind (SOM) and therefore has the largest percentage of, and an equal and proportionate amount of, Share of Market (SOM).

If I ask you to name a fast-food restaurant, what name comes to the top of your mind?

If I ask you to name a brand of a canned soup, what brand comes to your mind? The top answers to these two questions, by far, are always McDonald’s and Campbell’s.

Who do you think does the majority of the business in the fast food and canned soup categories? You guessed it… McDonald’s and Campbell’s!

Now, name the first local Auto Body Repair Shop (or any other local business category) that comes to the top of your mind? Did the answer(s) that you came up with prove the formula right or wrong? I can assure you, once you complete the formula, it’s almost always right. If they have 8% Share of Mind, they’re probably doing close to 8% of the business in their category.

Do you have clients that want to increase their Share of Market? If so, they must first increase their Share of Mind. I’m hoping you can figure out the last step.

If you would like to find out how a TOMA Survey can help not only generate additional and new revenue for your stations but also train your sellers to use this and other proven practices, strategies, and formulas, give us a call or email me to arrange a time to chat.

Note: If your sales team is not strong at selling long-term strategy-based advertising, a TOMA seminar is not a good fit for you. If this is the case, call me, and let’s talk about training your sales team to be professional media reps.

Teach and Preach the Power of Radio

Does radio work? That’s a silly question, right? Sure radio works, but do your media reps believe it works?

If we’re being honest with ourselves, you know that your reps sometimes question its strength. After all, many people, like their clients, have told them repeatedly that radio doesn’t work. They’ve heard the infamous words, “I tried radio once and it didn’t work”.

Because you’re a subscriber to ENS on Sales and are reading this, I’m confident you are a believer and you know that radio does work, because we have seen it work hundreds, even thousands, of times.

It’s paramount that we continually teach and preach to our sales team about the strengths of radio and how to present it to their clients. Never take for granted that they 100% believe in the power of radio. Continue to sing its praises and give them ammunition to prove the point. Arm them with articles, statistics, and testimonials. Encourage them to read the radio trades, like Radio Sales Today, Inside Radio, Monday Morning Memo, and others.

Never stop teaching and never stop preaching the power of radio. It does work, and it works exceedingly well when executed correctly from beginning to end.

As managers, it’s our job to coach, teach, train, and motivate so that our reps do not only understand how to make it work but so that they believe that radio works. It’s a never-ending task.

When done correctly, radio creates MAGIC, it moves mountains, makes cash registers ring, makes business owners rich and gives radio media reps CONFIDENCE and BELIEF in our product and medium!

Happy Training!

The Powerful TRUTH

The majority of business owners, managers, and media buyers that deal with media reps have heard nearly every song and dance there is about why they should buy from you and your stations.

What a lot of them haven’t heard is… the TRUTH!

If you are not doing so now, here are some of the TRUTHS about radio that we should be sharing and using in our presentations with the decision-makers:

“Good advertising won’t make a bad business a good business.”

“We suggest fixing the inside of your business before you consider advertising.”

“No one listens to our radio stations for the ads.”

“When the jock stops talking or the song ends, and the ads come on, people actually lean back and subconsciously turn their ears off.”

“The radio station is not the most important element in determining whether your campaign will be successful or not.”

“When we air sports on a music station, our audience goes down, not up.”

“Nobody cares that you’ve been the ‘servicing dealer since 1969’.”

“No, we are not the most listened to station in town.”

“Yes, we play more ads than the stations across town, but there is a reason.”

“It’s true, radio is not listened to as often as it once was.”

…and the list can go on and on.

Most business owners are savvy people, and they can sniff out the “bull” pretty easily.

Answering objections abruptly and making exaggerated statements will deteriorate trust. Telling the truth and having a logical explanation for your “TRUE” statement will dramatically lead to a greater level of TRUST in you.

I am not suggesting that anyone is intentionally lying about radio or their stations. However, in an effort to defend our industry, sometimes the reality or truth gets stretched and important details get left out in order to make the sale.

In sales, TRUST and KNOWLEDGE are two extremely powerful traits.

The list of “honest” statements above, in nearly all situations, is true. Understanding how and when to use these statements and how to follow-up with them can be extremely powerful. We suggest in your next training session that you go over these statements and rehearse when and how to use them.

If you have questions as to when and how to use or follow-up on any of these statements or others, simply give me a call.

365 Days Ago

365 days ago, March 12th, 2020, at 3 pm!

To use and rephrase the words of Alan Jackson’s popular 2001 song, “Where were you when the world stopped turning on that (March) day?”

For me, that was the day and time our world was turned upside down. At that moment, the NCAA announced that all events were canceled immediately. I was preparing to officiate my last tournament ever – the Division II National Wrestling Championships, and businesses of all types were advised to close their doors. THAT was when the “new normal” officially began.

So, do you remember where you were… on that March day?

365 days ago, how we operated as media reps drastically changed in the days, weeks, and months ahead.

As I was looking back to that moment, I reviewed the ENS on Sales articles we wrote from that moment on. The March 17th article, one week later, was titled “What You Say and Do Now will Determine Your Future”. Then, for the next 15 weeks, we wrote on topics that we hoped would help you, our readers, get through the difficult moments we were facing a little easier.

Other articles were titled, “Keep it as Normal as Possible”, “Now What”, “A Message of Value”, “To Advertise or Not to Advertise”, “Two Ears – One Mouth”, “Ideas and Plans = Courage”, and my favorite, “Halftime Adjustments”.

After reading through each of these, I wondered how many media reps and managers heeded the advice, and what effect it might have had. It also occurred to me that the advice given in the articles was worthy and useful whether we were facing a crisis or in normal times.

As we approach the first anniversary of the unforgettable start of the COVID-19 pandemic, I would encourage you to go back and re-read each of the ENS on Sales articles from March 17th through at least July 7th. Evaluate whether you or your sellers are doing these things yet today.

To see all past ENS on Sales articles, click here.

If you know of anyone that you think might find the weekly ENS on Sales articles helpful, they can sign up for the FREE by clicking here.

365 days ago was hopefully the day that we all stepped up to the plate and started taking care of our clients by doing things that maybe we should have been doing all along.

Where were you on that March Day? Are you better today?

Preventative Maintenance  

One of the most iconic advertising slogans ever produced was for Fram Oil Filters, “You can pay me now, or pay me later”. The simple but powerful message was, proper maintenance of your vehicle will save you lots of money and headaches down the road.

So, how does that translate to media sales? Imagine for a minute that one of your biggest accounts just announced they intend to make some drastic cuts. They currently use several radio groups, outdoor, and TV in their traditional media portfolio. When this happens, sometimes we know they are simply fishing for a “better deal”.

However, if they are truly making cuts, more than likely the client was already forming hard-to-change perceptions on which media or media rep they should cut long before that cut-back announcement was made.

“Preventive maintenance” is always more effective, and less costly, than “damage control”. It will not only save you money, but also a ton of headaches and heartaches!

Do you have a preventive maintenance program or does all of your energy go into making the sale, looking for new business, and damage control?

A well-planned system of bringing “value” to your customers and being a resource to them rather than simply selling them and sending them invoices is key to keeping them, especially when it comes time to make cuts.

ENS Media’s SoundADvice Program is a proven system that will help media reps and stations build powerful relationships with their clients and prospects.

If you’re surprised by a cancellation or cutback, it’s probably because you didn’t have a preventive maintenance program. Here’s a recent testimonial that speaks directly to how SoundADvice can help keep YOU from the chopping block:

Good morning, Rick.

Thank you for the scripts. We record them every week featuring a different sales team member and they are being well received by clients.

We had a local body shop that had pulled his 15+ year consistent annual ($xx,000/year) at the start of all this COVID craziness. A few weeks ago, he called our team member to have him come back in to talk about getting back on because he said he AND his staff have been listening to the SoundADvice messages and they really speak to them. 

Great stuff!

One of our most recent subscriber’s comments on the pricing of SoundADvice was… “Wow, why wouldn’t we do it!”

If you would like to implement a preventative maintenance program, click here to arrange a time to visit, or call Rick at (605) 310-2062 to learn more about our SoundADvice Program.