Pending Business: A Secret of Success

| October 26, 2020

By Steve Lapa
Lapcom Communications Corp
President

 

PALM BEACH GARDENS, Fla. — It’s the greatest feeling in the world.

Your station dominates the news/talk niche in a market and there is no real competitor in sight. Maybe that’s been the case for weeks, months, or years. Are you practicing the secret that makes competing with your dominance fruitless?  There are precious few media or business niches that can continue to be dominant long term as new, well-funded initiatives are constantly being developed. Yes, there will always be exceptions, but competitive determination is always lurking.

How does this connect into the day-to-day sales process?

Years ago I was totally frustrated with our system for handling call-in inquiries for advertising. We had no formal tracking system, no feedback loop to the source of the inquiry, no metrics tracking call-in performance.

I quickly learned no such system existed in any sales department in our company or most other radio stations. Imagine no formal system existed to track a function as basic as understanding the metrics of ad sales inquiries! Just the basic, “Did you follow up on….”  Sound familiar?

I knew someone at one of America’s great businesses and begged to sit in and observe. I learned the single most important secret of dominant companies: industry standards. Every dominant business understands how important it is to set a standard, stick to it, improve it, own it and infuse it into the culture of the organization. Does your radio station strive to set industry leading sales standards? You don’t need the highest-rated radio station to set a standard for sales performance and service. You don’t need the highest rates, or the most revenue. You need commitment, and the relentless pursuit of setting and improving standard-setting performance.

Some insights to ignite the internal conversation…

  • Is there consistency and fluid communication in every step of the sales process, credit, production, and discrepancy resolution?
  • How do your sponsors experience a level of commitment different from your competition?
  • Do you treat every past, present, and future sponsor with the same professionalism you would expect from a world-class organization?
  • How long does it take you to follow up?

Take a minute to learn from McDonald’s, Starbucks, or any other pacesetter.

They all share the relentless pursuit of improving.

Steve Lapa is the president of Lapcom Communications Corp. based in Palm Beach Gardens, FL.  Lapcom is a media sales, marketing, and development consultancy.  Contact Steve Lapa via email at: Steve@Lapcomventures.com 

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Category: Sales

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