Tag: new business

Industry Views

Pending Business: What Will You Focus on Today?

By TALKERS | by TALKERS

By Steve Lapa
Lapcom Communications Corp
President

imSimple question, tricky answer. Unless you are organized.

If you are a professional athlete, you are paid to put points on the board or stop the opponent from scoring. Did you ever watch a competitive body builder work in the gym? Some have a journal and a tripod to mount their mobile phones recording technique as they work through their routine, carefully blending form and precision. The professional entertainer? Paid to sell tickets. Professional politicians? Easy, get the most votes.

Professional ad seller? You get paid to close business.

Is the better question, “What business will you close today?” Of course, it is. Wait, most sellers never start every day with the stomach-churning question, “What business will I close today?” Maybe that question is a little too focused. After all it drills down the process to the very measurable result of being organized, skilled, and focused. Just like that high achieving athlete or getting a ticket to that sold-out performance, someone was ready to answer that elegantly simple question, “What will you focus on today?”

Let’s start the process of learning how to better sharpen our focus skills. Suppose we start with an easy how-to, as in how-to prioritize your call activity. Your sales calls will fall into five major categories:

— New Business. The lifeblood, the very oxygen of the radio business. Remember this: radio advertising, when measured honestly (political ads, COVID economics adjusted) is a single digit growth business. Unless you are making developmental calls, attrition, competition, and the wobbles in the economy will overwhelm you. Make the developmental calls a priority.

— Renewals. The most efficient sale you will make is the business you currently have. Work on renewals when timely.

— Service. My experience is this is the number #1 weakness of most radio ad sellers. Learn how to follow-up, check-in and listen without looking for a transaction. It’s about making sure your rapport is healthy and ready.

— Collections. Do you need an explanation? Just be sure of your numbers and documentation before you make the call or send the email.

— Internal. Collaboration with management, programming, production, or biz ops starts here.

Simple enough. Five columns to list, prioritize and budget your daily call activity. Owners and managers who are reading this, help your sellers when they get distracted. What will you focus on today?

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.

Industry Views

Pending Business: Package for Profit

By TALKERS | by TALKERS

By Steve Lapa
Lapcom Communications Corp
President

Matt Damon - PhotographyIs it just me, or has packaging become a lost art?

What was once a go-to revenue builder, has become a function of muscle memory and is presented with the enthusiasm of watching paint dry. Am I getting at least a “maybe?” If so, and you feel like the packaging treadmill is going to wearing you down, let’s regroup. For the manager and ultimately the seller, every package must answer four basic questions:

  • That is the (revenue) goal?
  • What is the timeline?
  • What is the unique factor?
  • If it fails to sell, do we drop it or revise?

Now let’s review the 10 basic packages:

  • New Business. You should have a simple new business package available each quarter that can either be sold as is or serve as a start point.
  • Event Tie-In. Like the title says, this package will help your advertiser benefit from an event your station is tied into or sponsoring.
  • New On-Air Talent. This is where you show the value-based opportunity to work with a new talent in your lineup.
  • Special Programming. Every radio format will run a special program of some kind during the year. From election coverage and exclusive interviews to countdowns, just package and sell.
  • Slow Season. Is there a special package offered on a limited basis to help power through when business hits a red light?
  • Sports. Needs no definition, just a little updated creative thinking.
  • Calendar Holidays. This is the gift that never stops giving. Mother’s Day, Christmas, Valentine’s Day, Thanksgiving, come every year. What’s new in your package?
  • Base Programming. News, Traffic, Weather, if your radio station offers the basic service elements, talk to your programming people for new packaging ideas.
  • Emergency Programming. With direct coordination of programming, emergency programming offering special weather, disaster or other community-oriented programming can always open a new door. Remember this type of programming is always a spotlight for radio’s immediacy.
  • Bundling your digital and social media assets can help move the needle with local advertisers. I’m not advocating a giveaway, just suggesting competitive thinking in the fast moving, high growth digital advertising universe.

Back to where we started. This is the simple takeaway: Packaging is the art and science of selling with a value component that easily answers the question, “Why buy now?”

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

Sales

Pending Business: The ‘Who Cares?’ Test

By Editor | by Editor

By Steve Lapa
Lapcom Communications Corp
President

 

PALM BEACH GARDENS, Fla. — Time to sharpen up, drill down and pass the “Who Cares?” test. This is where we take a hard look at how you present your on-air talent for host reads.

If you are like most sellers or managers, you look for a comfortable rhythm in your proposals that works for your style and now fits the cut and paste culture. There is nothing wrong with time-saving technique — except when the shortcuts take you to an outdated comfort zone. In radio sales we all get hypnotized by what worked for years. After all, we are creatures of habit and why mess with past success? It’s a challenging but important part of radio sales strategy.

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Sales

Pending Business: Worst Cold-Call Ever

By Editor | by Editor

By Steve Lapa
Lapcom Communications
President

 

PALM BEACH GARDENS, Fla. — “Hello Steven. My name is_________. Do you work with a financial advisor? Steven, are you familiar with the various resources available to you here at________. Steven, here is my card, please reach out if you need anything.”

As I sat in the waiting area of an investment center known worldwide, that cold call really happened to me.

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