{"id":330,"date":"2007-12-03T22:05:57","date_gmt":"2007-12-03T22:05:57","guid":{"rendered":"http:\/\/www.wensmedia.com\/\/salesarchive\/permalink\/2007\/12\/3\/170557.html"},"modified":"2007-12-03T22:05:57","modified_gmt":"2007-12-03T22:05:57","slug":"creating-value","status":"publish","type":"post","link":"https:\/\/www.ensmediausa.com\/ens-on-sales\/uncategorized\/creating-value\/","title":{"rendered":"Creating Value"},"content":{"rendered":"

“Value” is a perception, not a reality.<\/span><\/b><\/font><\/p>\n

 <\/font><\/span><\/b>            If the expectation your sales people create is too high, or unrealistic, or the experience of advertising with your station is disappointing, your clients will not perceive that your station delivered value.
\n            The <\/span>good news<\/span><\/i><\/b> is that you can manage both the <\/span>expectation<\/span><\/i>, and the <\/span>experience<\/span><\/i><\/font>.
\n            To manage the expectation, explore “lifetime customer value” with your client, rather than promising to “reach 100,000 people”. (unless your prospect has 100,000 sales people, they can’t handle 100,000 customers tomorrow morning).
\n            With planned strategic questioning, you can actually create realistic expectations for your prospects and customers in any business category.
\n            Let’s take the case of a men’s wear store which invests $3,000. in a campaign to sell suits.
\n            Ask your men’s wear account, “How much profit is in the suit you are advertising?” They might say, “$150”. Then ask “And how much profit is it reasonable to assume you would make from any add-on sales such as ties, belts or shirts?” They may add $20, bringing each customer value to $170. Now ask them to consider how many times that customer might return each year over the next ten years if the sales person does a good job. Maybe it’s twice per year for a total of 20 times, for a lifetime customer value of $3,400.
\n            Then explore how many people could a typical customer refer to that store based upon their excellent service. They might allow you to multiply that figure by five referrals, resulting in one customer being worth $3,400 per customer, times 5 referrals, or $17,000.  (Don’t you wish the stock market gave you a return of 5.6 to one?) 
\n            Helping your clients understand lifetime customer value and the power of word of mouth advertising, will create much more realistic expectations than promising them that thousands of customers will flock to their door when they come on the air.
\n            In this case, one customer from a $3,000 investment returns a <\/span>profit <\/span><\/i><\/font>(not just sales) of $17,000 over time. 
\n            Next week, we’ll talk about managing the Experience portion of the Value Equation. <\/span><\/font><\/div>\n
 <\/div>\n
 <\/font><\/span>Look what people are saying about  Wayne’s Power of Radio R.O.I. Seminar:
\n“I’ll buy the tape so I can re-visit every word!” –  Baldwinsville NY
\n“The best workshop I’ve seen so far” –  Atlanta GA
\n“This makes more sense than any ROI training I’ve ever had” –  Champaign IL
\n“It was so good he left me wanting more!” –  St. George UT
\n“Loved the anti yellow pages ammunition” –  Geneva NY<\/span><\/i><\/b><\/font><\/div>\n
Contact <\/font>wayne@wensmedia.com<\/font><\/a> to bring his Power of Radio ROI workshop to your team.<\/font><\/span><\/i><\/b><\/div>\n","protected":false},"excerpt":{"rendered":"

“Value” is a perception, not a reality.              If the expectation your sales people create is too high, or unrealistic, or the experience of advertising with your station is disappointing, your clients will not perceive that your station delivered value.             The good news is that you can manage both the expectation, and the experience. […]<\/p>\n","protected":false},"author":35,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-330","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"_links":{"self":[{"href":"https:\/\/www.ensmediausa.com\/ens-on-sales\/wp-json\/wp\/v2\/posts\/330","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.ensmediausa.com\/ens-on-sales\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.ensmediausa.com\/ens-on-sales\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.ensmediausa.com\/ens-on-sales\/wp-json\/wp\/v2\/users\/35"}],"replies":[{"embeddable":true,"href":"https:\/\/www.ensmediausa.com\/ens-on-sales\/wp-json\/wp\/v2\/comments?post=330"}],"version-history":[{"count":0,"href":"https:\/\/www.ensmediausa.com\/ens-on-sales\/wp-json\/wp\/v2\/posts\/330\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.ensmediausa.com\/ens-on-sales\/wp-json\/wp\/v2\/media?parent=330"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.ensmediausa.com\/ens-on-sales\/wp-json\/wp\/v2\/categories?post=330"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.ensmediausa.com\/ens-on-sales\/wp-json\/wp\/v2\/tags?post=330"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}