Tag Archives: Investments

The Secret to Increasing Your Sales

In this excerpt from my 2001 book, I wrote: “Tear up the last page in your presentation and double the investment you are asking for.” That was one of the keys to success then and remains so in 2017.

Here are the simple back-to-basics steps that still work today:

  1.  Know your prospects dreams.
  2.  Wear your ad manager’s hat & do the best presentation you possibly can with the client’s best  interest at heart
  3.  Establish a budget within the parameters, as described by the client.
  4.  Look for the big idea.  Revolve your presentation around a creative solution to an agreed to  client problem or dream; not around spots, rates, or GRP’s.
  5.  THEN TEAR UP THE LAST PAGE, AND DOUBLE THE INVESTMENT!!!

WHY DOUBLE YOUR PRESENTATION?

 

  1. A)   From a Client Perspective
  1.  Dominating your medium will capture and gain a dominant Share-of-Mind and subsequent  dominant Share-of-Market with your audience.
  2.  Major investments are viewed with much more respect and attention than minor or token  investments. Your advertisers have a vested interest in ensuring your campaign works if the  investment is significant.
  3.  More budget directly increases reach, frequency, Share-of-Voice and success.
  4.  Clients seldom tell you their real budget. They believe they have a vested interest in reducing  their costs, but will always invest more if they are convinced they’ll get a return on that  investment.
  5. Larger ‘asks’ demonstrate your confidence in what you are proposing.
  1. B)   From Your Perspective
  1. You deserve more. Radio should not continue to accept competitors as “automatic buys”.
  2. It takes just as much work to write and service a $20,000.00 account as it does a $100,000.00 account.
  3. You will make more money………more easily.

If only half your clients double their budget, and you capture the original proposed budget as a fall-back position with the other half, your sales will increase by 50%.

It Ain’t Gonna Sell Itself

So you think your advertisers are flocking to social media? Maybe not.  Maybe social media salespeople are flocking to them.

Twitter, for example, invested a whopping 44% of their revenue in marketing and sales to capture a 111% revenue increase last year.

 Now, I’m not suggesting for a minute that broadcasters should have a 44% cost of sale. But you almost certainly are not going to experience sales increases by cutting your marketing and sales investments.

The good old days of only competing with a few local stations and the local paper are long gone.  Your prospects are being sold by the marketing automation software folks, social media salespeople, web designers, SEO folks, Google AdWords, and many more from around the globe every week.

 Click on this link to see what other publicly held companies are investing in marketing and sales

http://www.marketingprofs.com/charts/2015/28343/how-much-do-public-companies-spend-on-marketing-and-sales-infographic?adref=nlt082815

 Local radio is not going to sell itself.

          And….I know that you know the definition of insanity is to keep doing the same thing over and over expecting a different result.

What are you doing to increase your sales in 2016?

Our suite of  revenue-development products, from local Top of Mind Awareness surveys to our SoundADvice radio e-marketing system, is helping stations across North America to increase their sales.

Contact [email protected] to discuss how we can build a custom revenue solutions program to increase your sales in 2016.
Sincerely,
Wayne Ens
705-484-9993