Pending Business: When the Crystal Ball Is Foggy | TALKERS magazine - talk media trade : TALKERS magazine

Pending Business: When the Crystal Ball Is Foggy

| November 14, 2022

By Steve Lapa
Lapcom Communications Corp
President

 

PALM BEACH GARDENS, Fla. — Its seems the current economic cycle is being driven by a sweeping round of cutbacks and strategic business re-focus now moving into the mainstream.

From Disney and Meta (parent of Facebook) to Walmart, the pressure is on to deliver positive performance in a cloudy economy. In plain English, it’s time to cut costs and push suppliers to share the pain. Yet prices continue to go up. Maybe it’s the fault of COVID’s unpredictable economic impact or some international collusion, or better yet, just a plain old foggy crystal ball in the CEO’s office. My vote is all of the above. But what does any of this have to do with your day-to-day sales? The short answer is: Everything.

Now that any midterm election revenue boost has passed — unless you’re fortunate enough to enjoy the benefit of runoff revenue, a sports windfall, or residual weather-related business — the clock is ticking on the adjustments you should consider to jump start 2023. Here is a quick checklist to consider as you look forward into an ever-changing economic climate:

  • Offer more compelling packaging. Be your own toughest critic. Open your thinking to newer digital/social media opportunities that are unique to your station.
  • Still working with the same decision maker? Always stay connected.
  • Present wider diversity in pricing the options you present. Time to start moving beyond “Plan A or Plan B” style thinking.
  • For the local advertiser, show how your proposal will lower the risk factor. What proof can you show that your plans have a track record of performance?
  • Do your sales materials reflect 2023 or do they still look like 2014? Are you geared for today’s “Please get to the point” short-attention span?
  • How’s that “WOW” factor? Is it alive and well on your sales call or is it fading, and time worn?
  • Have you finally filtered out the fun facts that fail the “Who Cares?” test.

Like it or not, the cutbacks we read about impact today’s sales climate. From budgets to performance pressure, even decision maker turnover — it’s all up for grabs. Survival in the sales jungle belongs to those who adapt the fastest.

Happy Selling!

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