5-21-2012
I once consulted for a car dealer who traditionally advertised the last week of every month in a last ditch effort to "get 'em over the curb" for the month. And he insisted his figures proved more people were buying cars the last week of the month than during the first three weeks.
Of course, common sense dictates that the car buying public doesn't particularly care whether they close the deal on the 10th of the month or the 30th of the month. There were more cars bought at month's end because the dealer, the automotive industry, and the staff, were selling at the end of the month to make their quotas!
When I persuaded the dealer to restructure all of his perks, incentives, and commissions around months' that ran from the 15th of the month to the 15th of the following month, two amazing things happened:
1) They sold more cars between the 10th and 15th of each month than during any other week.
2) More importantly, their market share went up dramatically because they sold mid-month, before all of their competitors got into the ring during the traditional last week of the month.
That dealer still introduces me to his friends as "The guy who made me successful."
Radio sales often suffer from the same lunacy as car sales, pushing in the month instead of well ahead of the month
In a survey of 540 locally owned and operated businesses, we asked: "Why do you not commit to 52-week advertising schedules?" The number one and two answers were: "Because no one has asked me to" and "No one has given me good reason to."
The number three answer? "Because if I wait until the last minute the media guys will always have a sale or give me a better deal in order to hit their monthly quotas."
We often hear radio sales managers complaining, "Advertisers aren't booking long term anymore. Everything is last minute."
But the reality is, like my car dealer friend learned, they are "booking" when we are selling.
Many radio sellers have talked themselves into believing a "shaky economy" is the excuse for last-minute bookings, but that same economy hasn't curtailed businesses from placing their order for next fall's merchandise by the manufacturer's spring deadline, or from committing to a five-year lease on their location and booking twelve months in the yellow pages.
And every minute you are panicking to make this month's quota is a minute that could be invested to assure every month's quota for the next 12 months! So we end up on the treadmill of accepting last-minute bookings every month versus selling solid long-term campaigns.
Einstein said, "The definition of insanity is doing the same thing over and over and expecting a different result." Maybe it's time to quit accepting last-minute bookings over and over, and to pursue long-term sales!
Securing more 52-week relationships is as easy as 1-2-3:
1) No one, and I mean no one, EVER, is entitled to a lower rate than your best 52-week advertisers. And you should make all of your prospects aware of your "best customer" policy.
2) Quit selling long-term spots and schedules. Present a "spec calendar" much like the one illustrated below, that achieves the advertiser's objectives (spot schedules achieve your objectives). It's much more palatable for the advertiser to commit a budget to their advertising or business objectives than to your "inventory" or schedule.
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Once they've committed to the campaign objectives, strategy, and investment, you can easily develop the appropriate schedule for each campaign. Do your research and design your spec calendar for the year. It won't be bought "as is," but once your client begins to make changes to your calendar, you have a sale!
Remember: Always, always, always, present the benefits of 52-week advertising. Even if the advertiser requested a proposal for their annual anniversary sale, include a presentation which clearly demonstrates the value and wisdom of planning 52 weeks.
In addition to the obvious and common benefits of branding, recency, consistency, and repetition consider these benefits from an advertiser's point of view:
1) Your 52-week rate.
2) Best available times.
3) Time to plan strategically-correct campaigns rather than knee-jerk marketing efforts.
4) More time to plan better creative.
5) More time to produce better spots.
What are the benefits of 52-week sales to you?
a) Much like the success my car dealer experienced when he changed his definition of "month's end," you'll have the advantage of already having sold every month before your competitors get in the door. The early bird really does get the worm.
b) You'll have more time to make more sales! Instead of making 12 presentations for a sale every month, you can make 12 month's of sales in one presentation.
c) Your brand as a marketing consultant is enhanced because you don't have your hand out for an order every time your client sees you.
d) And, of course, you benefit from the personal satisfaction of achieving all five advertiser benefits: better rates, better schedules, better times, better campaigns, better creative and production?better results!
If you are still selling in the last week of the month for the month, you are doing your client, yourself, and your station a disservice. This chart shows where the most successful professional account executives stand each week of the month.
I can virtually guarantee you if you enter each month with these targets met, you'll have the time to create better campaigns, make more 52-week presentations, and always exceed your monthly quota.
Customer satisfaction levels, renewal rates, your average invoice, and your income will rise steadily and dramatically when you begin to present more 52-week campaigns.
By achieving the targets in the above chart, the only thing that will go down is your level of stress each month.
Wayne Ens is president of ENS Media Inc, and producer of SoundADvice, the radio e-marketing system. He can be reached at wayne@wensmedia.com.
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