Questions – Keep a Couple in Your Pocket

My dad had a lot of little sayings that had far greater meanings than just the few words spoken. Things like, “Can’t never could do anything”, “Do as I say, not as I do”, “Believe only half of what you see and none of what you hear”, and this one, “It’s best to keep a couple in your pocket”.

I think the saying “keep a couple in your pocket” originally meant to always keep a couple of coins or dollars on you, and more than once it referenced keeping a few pieces of candy for later in the day! But I also recall him saying, “You don’t need to tell them everything up front. Hold back some of your questions, thoughts, and knowledge for a more appropriate time. Sometimes, timing is everything”.

Others might say something like, “hold your cards close to your chest/vest” or “don’t show all your cards until it’s time to play”.

Regardless of how you express it, using this wisdom in sales at the appropriate time can have a powerful impact.

One of the areas in which I used this wisdom was when conducting CNAs. I would ask all of the normal questions, but, in many cases, I would intentionally hold back two or three questions. Then, at the end of the meeting, I would say to the prospect, “We’ll go back to the office, prepare our ideas and put our recommendations together for you. In the meantime, if I have a few additional questions, do you mind if I call you or set up another appointment to discuss?”

In addition to asking better and deeper questions upfront, this is where we start to separate ourselves from our competition. In a few days or a week, we would call the prospect back and either ask the questions or set up another appointment. I would say something like, “Mr./Mrs. Prospect, I believe we have some really good ideas put together for you, but I do have a few additional questions before preparing our final suggestions. Do you have 10-15 minutes to sit down and discuss?”, or if they don’t have time to meet face-to-face, ask them, “Do you have time to answer a few questions?”

The reason, and goal, for doing this is that subconsciously, we are going above and beyond what other media reps might be doing by putting additional thought into their business, and going the extra mile by thinking the process completely through.

This little tactic is not necessarily a game-changer. You’ll still need to have a great idea, but by keeping a “couple of questions in your pockets” and asking them at an appropriate time, you can certainly capture their attention enough to help position yourself differently from your competitors!

…and in the case of candy, you will never be disappointed that you kept a couple in your pocket!

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?