ROE--Return On Effort

I was working with a rep who was planning a "promo page." The page involved selling a large number of advertisers and was based on readers "voting" by sending in answers to trivia questions. In many ways this was a creative idea and the reader component provided proof that people were looking at the ad. The downside is that the the entire project would generate just over a $1,000 in revenue. In my opinion the minimal commission the rep would earn on the sales was not worth the effort to sell and set up the page. Generally promos are only worth the effort if they run for multiple weeks with minimal changes. Always think about the "ROE" of any activity. This works like "ROI" except that the investment is measured in time and energy instead of dollars. To be productive you need to maximize the amount you earn for every hour you put into building your territory.

Keep Smiling, Keep Selling!

Thanks Jim Busch

Selling Special Sections

Here's an idea for selling special sections that I learned from a Canadian Publisher. He lays out his tab with editorial before a single ad is sold. He leaves spaces for the ads he intends to sell. He produces a dummy showing the available ad spaces. Next he contacts all of his "sure thing" customers, the ones that buy into most sections, and sells them into the tab. When his reps hit the streets they have the mock-up with several key spots marked "Sold". This proves the value of the product and creates a sense of urgency.

Keep Smiling, Keep Selling!

Thanks Jim Busch

Happy Memorial Day

As advertising sales people we need to be out of sync with the rest of the world. This week when everyone else is getting ready for Easter, we should be thinking about the Memorial Day holiday at the end of May. We should always be thinking six to eight weeks into the future and talking to our customers about their plans. Why so far ahead? Thinking long term gives you a jump on the competition allowing you to tie up the advertiser's seasonal budget. You also reduce your deadline stress and have the time to design great ads. I've found that customer's appreciate being reminded of upcoming marketing events. This give them time to make plans and order in merchandise. As their consultant you are helping them plan to be successful.

Keep Smiling, Keep Selling!

Thanks Jim Busch

Happy Groundhog Day

Today is the day the fate of the climate for the next 6 weeks is determined by the observative powers of a groggy rodent. That may not be exactly true but this is the first day that people begin to think of the spring. As advertising salespeople we need to live months ahead of "normal" people. We need to have time to contact clients, develop programs, have layouts prepared and get everything to the printer before deadline. We also have to get to the customer before the competition. This is why early February is the time I start talking to my customers about their goals and plans for the spring. When spring finally arrives I'll be talking to them about their summer program.

The early bird may get the worm but the early rep get the ad. It is never too early to start selling a program to a prospect.

Keep Smiling, Keep Selling!

Thanks Jim Busch

Many Happy Returns

With the growing popularity of electronic filing many people will get their income tax refund much earlier this year than in the past. Now is the time for your customers to aggressively go after this windfall. In this post recessionary period I would suggest copy that promotes "investing your refund" or "let your refund pay you dividends." This is particularly useful for companies that sell energy efficient products or home improvements that offer long term savings to the consumer. Businesses that offer leisure or luxury items should emphasize value and savings. Starting the program now and continuing it through tax season means that your customer will catch the early filers and will achieve top of the mind awareness by staying in front of the procrastinators.

Keep Smiling, Keep Selling!

Thanks Jim Busch

Carve your goals in stone

There is an old saying "May your troubles last only as long as your New Years resolutions." The key to making goals real is writing them down. Write down what you want to accomplish, when you want to achieve your goal and why it is important to you. I also recommend recording what you know about your goal, what you need to learn and where you can get the information you need. I also like to write down the steps you need to take to get closer to realizing your goals. Look at your goals often, at least weekly, if not daily. Keeping you goals in front of you greatly increases your chances of making your dreams come true.

Keep Smiling, Keep Selling!

Thanks Jim B.

Now is te time to run "resolution" ads

January is traditionally the time to run "Resolution" ads. Health clubs, weigh loss firms etc. who want to cash in on this desire to remake oneself in the new year should begin running now. By running in December this firms create top of the mind awareness. By running regularly their business will be the first place shoppers turn to when people are ready to remake themselves after the first of the year. If they wait until after New Years Day to advertise they will lose out to firms who have established themselves in the mind of the consumer.

Keep Smiling, Keep Selling

Thanks Jim Busch

Friday Quote

I like quotations because they bring truths into sharp focus. The following statement expresses something we all know but is often forgotten in the press of our daily activities.

"You're only really working when you're face-to-face with a customer. Everything else is only prelude."
Brian Tracy

As salespeople we only get paid for having substantive conversations with customers that lead to a sale. We have to spend time planning , attending meetings etc. but it is in our own best interest to organize your days to spend as much time as possible engaging clients. As an old telephone sales rep I disagree with the phrasing "face-to-face" and would offer the substitution "connecting" as more accurate. Keep close track of your time and do whatever you can to increase the percentage of time you are spending with the people who write your paycheck.

Keep smiling, keep selling!

Thanks Jim Busch

The "Great Eight"

I am a great believer in the "magnifying glass theory." Like sunlight though a lens, you can accomplish a lot more when you focus your energy. Some people keep a top ten prospect list, as a rep I always kept a "Great Eight." The number you choose doesn't really matter, what is important is that you keep a list of your best prospects. Any territory contains many businesses that could buy from you. The high number of potential customers can cause inexperienced reps to dissipate their efforts. They make contacts but move on to the next target without following up. They do not have the time to thoroughly plan and prepare for any individual prospects.

Choosing a handful of prospects for special attention will greatly increase your chance of success. This accounts will get the "full court press." You should research them, create a complete advertising plan for them and develop a strategy for selling the account. It would be wonderful if you could do this for every prospect in your territory but this would require far too much time. Choose accounts that are in categories your publication can benefit, businesses that have a high dollar potential and highly respected businesses that will enhance your product. Keep them on the list until you've exhausted every effort to close them or until you can move them to "current customer" list. As soon as you move someone off the list replace them with a new prospect.

It is always important to make as many calls as humanly possible and keep in touch with your territory. This is how you know who belongs on your "top" list. Focusing your efforts will move more of these contacts into the "sold" column.

Keep smiling, keep selling!

Thanks Jim Busch

Le

We all scan our competitor's publications for leads. For most accounts this is one of the best sources of new business. The challenge of doing this for seasonal businesses is that by the time their ad appears, the prospect's budget has already been spent. It is often too late to put together a campaign for this years event.

If I find I am too late to sell a program, I set my sights on the next holiday or the next season. I place a copy of the prospect's ads along with any other information I have collected in my 12 month "tickler" file. I place the information in a folder dated at least two months before the run dates of the ads. This gives me the time to plan and sell the account. My goal is to get to the prospect before my competition.

Selling advertising is a marathon not a sprint. Filing leads away for the next season or the next year, gives us a head start on the competition. After you have done this for a full year, you will have a pipeline full of leads for every season.

Keep smiling, keep selling. Thanks

Jim Busch