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Beyond Average

Do you know what the average invoice for each of your stations is?

Knowing how much your station’s average invoice is, can be a great management tool.

First, your average invoice tells you what the market believes your advertising to be worth.

Reviewing your average invoice per account executive can also tell you what each account executive thinks your stations are worth.

Some other uses for average invoice:

Every account executive should be required to present a minimum of one 52-week average invoice or greater proposal per week. Based upon a 10% closing ratio, they’ll have 5 good long term clients by year’s end. (By the way, if their closing ratio is higher than 20%, they’re not super-stars; they’re merely picking the low hanging fruit.)
If you’re creating sales ‘packages’, they should always be above or at average invoice. Average invoice has told you what your account execs and your clients have told you what you’re worth. If your ‘package’ is really outstanding, shouldn’t it be perceived to be worth more than the average?
A focus on even the slightest improvement in average invoice each month, over time, will produce huge results.

Averages can be deceiving, but understanding your average invoice and managing your average invoice, will yield revenue results.

It’s Good To Be Canadian

Sometimes, we lose sight of some of the huge advantages Canadian broadcasters have versus our friends south of the border. As we consult stations on both sides of the border, we know the competition for radio audiences and radio revenues is much tougher south of the Canadian border.

On a per capita basis, Canada has an audience of 50,000 people per licensed station, opposed to the U.S., where there are 28,000 people per licensed commercial radio station.

Comparing markets like Chicago and Toronto, both markets have similar size populations. But audiences can receive 110 radio stations in Chicago, versus 52 in Toronto. Of course, we recognize you have more competition for audiences and for dollars than just other radio stations. But your salespeople and your advertisers should be made aware of how much more influential each station in Canada is, compared to stations in the U.S

More Local Revenue in 2017

Your clients and prospects are being ‘cold-called’ by more and more traditional and digital salespeople every day.

They’ve seen gimmicks like sending half a lottery ticket and promising to deliver the other half if they make an appointment. Or how about the old claiming to have a great idea for the advertiser even though the caller doesn’t know the advertiser’s objectives.

They’ve also been called about ‘special packages’ or ‘limited time offers.’

Then of course there’s the traditional, “I’m calling to make an appointment to learn more about your business…”.

There is no better way to capture an appointment than to tell your prospect you want to share the results of a local marketing study that revealed competitive information about their business, and their competitors’ businesses.

Our TOMA (top of mind awareness) surveys are proven to open more doors for radio and TV sellers.

In his Monday Morning Memo, Roy Williams wrote, “I’ve long suggested that radio stations fund a TOMA study every two years. Few things are as valuable in the eyes of advertisers as these revealing market snapshots.”

Here’s how a Top-of-Mind Awareness (TOMA) Survey can help you capture more 52-week business in 2017 and beyond.

8 Things a TOMA Survey Can Do for You

1. Our local TOMA surveys consistently prove that creating Top-of-Mind Awareness is the domain of intrusive broadcast media. Strong broadcast advertisers will always have higher TOMA scores than advertisers who rely on print or digital to brand their businesses.

2. Your TOMA surveys will always prove that the best way to ensure consumers click on a business when they search online is to create a pre-need TOMA and preference for the business with intrusive broadcast advertising.

3. It’s much more powerful to make an appointment to talk about your prospects’ ratings and their competitor’s ratings than trying to get an appointment to talk about your ratings.

4. If you have done local Top-of-Mind-Awareness surveys in the past, your survey can prove that businesses that began using radio/TV after your last survey actually increased their Share-of-Mind score.

5. The most important findings will be uncovering ‘open’ categories. Categories with no strong TOMA leader are very easy, and very inexpensive, for new radio/TV advertisers to capture the dominant Share-of-Mind and Share-of-Market.

6. In most cases, if a generalist leads the category and there is a relatively high ‘no answer’ score, the generalist has won by default and a specialist can quickly and efficiently become the category leader. For example, if Home Depot leads the windows and doors category, or the flooring category, advertisers who specialize in those categories, and use intrusive broadcast as a pillar of their promotion, can quickly capture Share-of-Mind and Share-of-Market While the Home Depots of the world have to divide their budget to cover dozens of categories, a specialist can dedicate their entire budget to their category.

7. Your survey will also prove that the only SURE way to be found online is when prospects search for a business by name because many businesses have fierce online SEO competition for first-page positioning if consumers search the category generically.

8. Our Selling With TOMA Surveys sales training will teach your team how to prove the vital link between Share-of-Voice, Share-of-Mind, and Share-of-Market and sell more 52-week advertisers for you.

Click here to inquire about facilitating a local TOMA Survey and TOMA Sales Training in your market.

Will 2017 Be “Great Again”?

In business, in the economy, and in life, we must deal with the hand we’re dealt.

We couldn’t have been dealt a better hand heading into 2017.

Interest rates are near historical lows. Unemployment near record lows, is continuing to improve and is already the lowest unemployment rate in the world. Inflation is under control. GDP growth has been slow but steady (those wishing for rapid growth or bubble, forget that rapid growth is always followed by a crash).

The demise of print, coupled with the increasing fragmentation and confusion surrounding digital media, has opened a huge opportunity for broadcast sales executives who know how to produce results for their advertisers.

So, it’s a little crazy to talk about making things that are already great, “great again.”

The goal in 2017 should not be to return to some fictional or nostalgic economy, but rather to make the great hand we’ve been dealt, even greater.

At ENS Media, we have a success formula that has worked in every market and economy, “Extraordinary effort multiplied by extraordinary creativity equals extraordinary revenue.”

You’ve been dealt a great hand heading into 2017. It’s up to you to play that hand for all it’s worth to make great greater.

P.S. What are you planning that’s ‘extraordinary’ in 2017? Perhaps our SoundADvice radio e-marketing system or our TOMA surveys and training can be the edge to make things greater for you in 2017. Click here to find out more info

A Merry Politically-incorrect Message

Those of you who have been receiving our ENS on Sales over the last fifteen years, know it’s time for my annual politically incorrect “Merry Christmas” message. (Although, I’m increasingly convinced that ‘politically correct’ is an oxymoron because I don’t know any politicians who are ‘correct’. They all seem to care more about getting elected than they do about doing what’s right.)

I used to agonize over whether I should say “Merry Christmas” because not everyone celebrates this Christian event.

But I believe in recognizing the role that history and heritage play in making people, nations, businesses and cultures what they are, and Christmas is a part of the North American heritage I’m not ready to deny.

I’m not offended when a friend wishes me Happy Hanukah, and I feel honored when another friend invites me to her faith’s New Year’s celebration in November. There is no denying that Christianity played a role in making North America what it is today…good or bad.

And I’ve never seen anyone from any faith object to getting a day off on December 25^th, even though they know how the holiday originated, so Merry Christmas everyone!

‘Tis the season to rejoice and count our blessings.

As you take time over the holidays, I invite you to reflect upon how fortunate we are to be in this business.

We get paid for helping other people. It doesn’t get any better than that!

Whether we’re helping charitable organizations with a fund-raising campaign, or helping a business to grow and provide more employment with our advertising campaigns, we’re helping, informing and entertaining people every day!

Those people who punch a clock or work on an assembly line can only fantasize about having the opportunity to work with the diverse and creative group of peers we see every day. Some of us are wacky, some disciplined and some adventurous and others are focused… together we produce a product and service like no other!

And we have a purpose bigger than ourselves! We transform lives. We help needy children by promoting Christmas toy drives. We entertain people, adding laughter, music and insight to their otherwise boring lives. We keep people informed, make them think, and even let them know if they’ll need an overcoat on the way to work today.

We help them avoid traffic jams and to make enlightened decisions at election time.

For the most part our jobs are not hazardous. We don’t brave the elements on a daily basis, and I don’t see a lot of calluses or sore backs in our business.

I heard an interview with country singer Kenny Rogers where he said, “Find a way to get paid for doing something you love and you’ll never have to work a day in your life.” I think that’s where all of us in broadcasting are.

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