Tag Archives: Customers

Your Internal Marketing Plan

The radio station marketing model is unique in that we serve three distinctly different target customers. Most other businesses only target those who can spend money with them.

 But in radio, we have three target groups that affect that “spend” and we need a strategic marketing plan for each of those target customers.

 One, of course, is our audience. Most stations do have promotional and marketing plans to attract and maintain audiences.

 Our second target group is our paying customers…our advertisers. Most stations are fairly effective at reaching and influencing this group as well.

 It is important to calculate the per capita value of each of your target customers. If a station has annual revenue of $2 million with a listening audience of 50,000 people, then each listener is worth $40. Using that same revenue base and a total of 250 advertisers, each advertiser is worth an average of $8,000.

 But it is our third target that is by far the most valuable per capita and yet we often have no marketing plan to attract, motivate, and keep these customers.

 The third target is our internal customers; our staffs. If that same $2 million station has a staff of 20 who sell, create, administer and invoice the $2 million in revenue, then each staff member is worth an average of $100,000.

 When the lights go off, your biggest assets go home! 

Do you have a marketing budget and plan to attract and create customer satisfaction for your most valuable customers…your internal customers?

 

 

The “Gift” of Gab

       Every once in a while, I meet a salesperson who proudly proclaims, “I’ve got the gift of gab.” In sales, that “gift” is more aptly described as “the curse of chatter”.

        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 or 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 and difficult 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.) Earn the right to ask questions by learning something about the prospect’s business before you make a call.

2.) Prepare with 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. “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 why not shut up and make some money!

BEING ‘COOL’ CAN LEAVE YOUR CUSTOMERS COLD

I read a headline in one of the numerous marketing newsletters I read each day that said ‘The 5 KPI’s Marketers Need to Measure’.

I thought to myself, “Wow, I must be out of touch because I don’t even know what a KPI is.”

I felt a little better after talking to five high-profile marketing types who also did not know what a KPI is.

Your clients and prospects are wary of lazy short-form applications (you might call them SFA’s…lol) written to make the writer feel trendy, and the reader feel obsolete.

By the way, the author apparently wanted KPI to mean ‘key performance indicators’.

I went online and found a site that listed over 100 three letter ‘marketing terms’.

I stopped at the C’s:

CPM, cost per thousand

CTA, call to action

CMO, chief marketing officer

CAC, customer acquisition cost

CRM, customer relations manager

COS, content operating system

CPC, cost per click

CPV, cost per view

CCO, chief creative officer

CPP, cost per point

CBS, creative brief summary

CSI, customer satisfaction index

CPL, cost per lead

There are 26 letters in the alphabet, meaning there are 17,576 possible
three-letter combinations. I have no intentions of learning them all and neither do your customers.

Using trendy marketing terms might make you feel important, but you’ll never lose points by saying what you mean rather than using trendy or misunderstood short forms.

The Windshied Versus the Rear View Mirror

Your account executives are probably conducting some sort of CNA, customer needs analysis, now. And your most successful account executives have learned that they can be leaps ahead of the competition by doing their homework, and discovering the answers to 80% of the questions on a typical CNA before they meet with their prospect.

But have they learned the value of thinking beyond their prospect’s current situation. Typical CNA’s explore a prospect’s current target demographic, their current competitive situation and how they plan to advertise.

Your account executives can have more productive discussions by exploring where their prospect wants to be, rather than simply learning where they are.

When you uncover your prospect’s dreams, visions, hopes and aspirations, and show them how you can help them get there, you’ll have a client for life.

Click here to arrange an online overview of how our new ‘Becoming a Master Questioner’ video series can take your client relationships, and your sales, to the next level.

Sincerely,

Wayne Ens
705-484-9993