Radio Advertising Bureau Webinar. Deep Dive. Contemporary Approaches to Big Dollars. Brandeis Hall VP Training Radio Advertising Bureau.

Transcription

1 Radio Advertising Bureau Webinar Deep Dive Contemporary Approaches to Big Dollars Brandeis Hall VP Training Radio Advertising Bureau

2 What Is A Deep Dive? Definition of Deep Diving: Understanding how a company is organized within its various business units to determine decision makers that have influence on budgets to impact the business.

3 The Organizational Flow Chart Senior Management VP of Advertising VP of Marketing Corporate Comm. VP of Sales Ad Agency Regional Marketing Director Public Relations Regional Sales Manager Brand or Product Manager Government Affairs Channel or Ethnicity Manager Sports & Event Sponsorship Regional Promotions Manager or Director Digital Marketing

4 Example: Fortune 500 Company Top Tier Executives CEO Group VP, Human Resources EVP, CFO EVP, Marketing Communication SVP, Global Purchasing SVP, Marketing Communication VP, Sales & Marketing VP, Customer Service VP, Communication GM, Sales GM, Marketing Executive Director, Communication

5 Example: Fortune 500 Company Marketing Communications General Marketing Manager Director, Marketing & Sales Manager Retail Communications Digital & Direct Marketing Manager Manager, Brand Content & Alliances Manager, Media Planning Digital Marketing Brand X Manager, Sponsorships Mgr, Media Planning & Buying - Brand X Digital Marketing Brand Y Manager, Multicultural Marketing & Comm. Mgr, Media Planning & Buying - Brand Y Digital Marketing Brand Z Mgr, Media Planning & Buying - Brand Z

6 Example: Fortune 500 Company Sales Operations General Sales Manager Regional Sales Manager, West Regional Sales Mgr, Northwest Regional Sales Manager, Midwest Regional Sales Manager, South Regional Sales Mgr, Southeast Regional Sales Mgr, Northeast General Zone Manager, West General Zone Mgr, Northwest General Zone Manager, Midwest General Zone Manager, South General Zone Mgr, Southeast General Zone Mgr, Northeast Regional Mkting Mgr, West Regional Mkting Mgr, Northwest Regional Mkting Manager, Midwest Regional Mkting Manager, South Regional Mkting Mgr, Southeast Regional Mkting Mgr, Northeast Market Rep Manager, West Market Rep Mgr, Northwest Market Rep Manager, Midwest Market Rep Manager, South Market Rep Mgr, Southeast Market Rep Mgr, Northeast

7 7 Steps To Selling Success

8 Develop the Best Leads What makes a good lead? Regional or national client who already spends money with you Corporate Headquarters in your city Prospect in a growing industry or sector (Entertainment, Telecom, Healthcare, CPG, etc) Sells service or product to consumers Fortune 1000 company Works with retail regionally and nationally Cable, Spot TV or Print advertiser New product or line extension

9 Research 9

10 Research: Do Your Homework 82% of executives want sales reps to understand the economic drivers of their business prior to calling. Knowledge Pays Do your homework; don t waste their time or yours Research each company s: Headquarters contact information Fiscal year Background information Organizational structure Marketing practices New and major products or services Sponsorships and corporate interests

11 Research - Best Buy Company, Inc. Best Buy Company, Inc Penn Avenue, South Richfield, MN (612) Fiscal Year April-March Key Personnel Chief Marketing Officer VP and Territory General Manager Director of Media Strategy Media Buying Director Major Competitors Dell Walmart Agency Information BBDO Worldwide (Creative) 1285 Avenue of the Americas New York, NY (212) Starcom Chicago (Media) 35 W Wacker Drive Chicago, IL (312) Sam Sussman, SVP, Media Director (312) Sam.sussman@starcomworldwide.com La Comunidad (Hispanic) 900 S Shore Drive Miami Beach, FL: (305) Tapestry (Multicultural Media) 35 W Wacker Drive Chicago, IL (312)

12 Research - 7-Eleven, Inc. 7-Eleven, Inc Routh Street Dallas, TX (972) Fiscal Year March-February Key Personnel Chief Marketing Officer Senior Director of Marketing Basic Company Information Operates, franchises or licenses approximately 7,800 7-Eleven stores in North America Agency Information TPN/Fresh Works 9400 North Central Expressway Suite 1500 Dallas, TX (214) Cathy Brown Director, Client Services TracyLocke 1999 Bryan Street Suite 2800 Dallas, TX (214) Melissa Clark Assistant Media Supervisor (214) Melissa.clark@tracylocke.com Advertising Spent Spent $15.9 million on US media in

13 Research Anheuser-Busch / InBev Anheuser-Busch / InBev 1 Busch Place St. Louis, MO (314) (800) Agency Information Busch Media Group 1 Busch Place St. Louis, MO (314) Anheuser-Busch InBev Fiscal Year January-December Key Personnel SVP, Busch Media (314) VP, Marketing (314) Gretchen Curtis Director, Media Strategy (314) Gretchen.curtis@anheuser-busch.com Eric Winter Manager Media Planning (314) Eric.winter@anheuser-busch.com Manager, Print Media VP, Media, Sponsorship and Activation (314) Advertising Spent Spent $1.5 billion on US advertising in 2008

14 Research - General Mills, Inc. General Mills, Inc. 1 General Mills Blvd. Minneapolis, MN (763) Fiscal Year June-May Key Personnel VP, Consumer Insight VP Media VP Advertising, Media & imarketing VP Marketing Communications Manager Media Buying & Execution Agency Information Campbell Mithun 222 South Ninth Street Minneapolis, MN (612) Deborah McPartland, EVP Media dmcpartland@cmithun.com Erick Jensen, Media Supervisor ejensen@cmithun.com Zenith Media 299 West Houston Street, 10 th floor New York, NY (212) Wendy Marquardt, President, New York 14

15 Research: Sources Sources: The List Hoovers Ad Database Redbooks 15

16 Prospecting

17 Find More Than One Decision Maker Ask questions of the first person who answers the phone Keep asking until he/she can t or won t answer more questions Ask to be passed along to someone who could help you further Be persistent Use names you have gathered as referrals

18 Prospecting Sources of Funding / Decision-makers Agency Corporate Office Regional Offices Local Establishments Referrals

19 Prospecting: Agencies The Advertising / Promotional Agency s Role: National Agencies Handle nationwide planning and buying Regional / Local Agencies Hired by regional / local dealer groups / distributors Local Agencies Individual owner might use local agency

20 Prospecting: Corporate Office President, Advertising & Marketing Chief Marketing Officer Sr. Director, Marketing Mgr, Community Relations & Charitable Giving Senior Marketing Manager Sr. Director, Partnership & Field Marketing Mgr, Regional Marketing Sr. Mgr, Minority & Business Development Asst. VP, Corp. and Community Relations VP, Media & Sponsorship & Activation VP, Marketing & Brand Management Director, Entertainment Marketing Manager, Sport Research VP, Marketing Hispanic Sr. Director, Sports Marketing, Bud Sports

21 Prospecting: Corporate Office Budgets Within Budgets: Sales Marketing Branding Merchandising Advertising Public Relations Sponsorship Sampling Couponing Promotional Discretionary Market Funds Co-op Funding Digital Mobile 21

22 Prospecting: Decision-Maker Roles Advertising Manager/Planner/Buyer To place and manage media buys Brand Manager To increase brand awareness & loyalty across the country Marketing Manager To increase market share across the country Sales Manager To increase sales for a given territory 22 22

23 Getting the Appointment

24 Getting the Appointment Use the Power of the Phone Customer Needs Analysis Get a Homework Assignment over the phone Benefits Saves time and money Creates credibility Pre-qualifies the decision maker Reduces selling cycle Increases your closing ratio Reduces frustration To increase your chance of getting a call back, leave a compelling voice message

25 Getting the Appointment Strategy Contact the headquarters of manufacturer, retailer, or service provider Ask for the assistant to the VP of Sales and VP of Digital Ask the assistant or VP of Sales about decision-makers specific to: Key Retail Account Regions Sales Channels Ask for phone number, address, and title of decision-makers Who does decision-maker report to?

26 Getting The Appointment What can you do for the client? This division of our company creates marketing and sales programs for retailers and manufacturers that are specifically designed to drive sales, engagement and increase foot traffic at retail locations on a local, regional and national level or My company has successfully worked on local and national levels to design programs that have a call to action for the consumer. We specialize in designing and executing integrated programs and have the ability to combine traditional and digital media in a campaign to build store sales for and.

27 Getting The Appointment Leaving a Voic Message Introduce yourself and confirm you are speaking with the correct decision maker Explain what you do and benefits to decision maker Mention competitors and/or partners with whom you have worked Mention one or two key accounts where their product is sold that you have worked with Provide an idea starter or success story Tell prospect how you can be reached; repeat your name and number

28 Customer Needs Analysis CUSTOMER NEEDS ANALYSIS

29 Customer Needs Analysis What are you going to say? Credibility Statement Confirm decision-maker; quantify area of responsibility What can your station do for the client? Establish credibility with successes within their industry Transition to Customer Needs Analysis (CNA) Agree on follow up steps Prepare in advance Preparation Prevents Fear Prepare questions before the call and understand the why behind each question Write down: The ONE question you ALWAYS ask (e.g. timing, demographics, etc.) The MOST IMPORTANT question to ask The FEWEST number of questions possible; 5 is probably the limit

30 Customer Needs Analysis Conduct an initial CNA over the phone Five key questions to ask on every call. You may only have one opportunity to impress buyers. 1. Who are your key customers? 2. Are there specific products or services you focus on selling to those customers? 3. What is the timing to promote the product/service? 4. What promotion budget do you have? 5. Are there any key partners you have worked with or would like to work with?

31 CNA: Key Questions Don t hang up until you get a homework assignment 1. Who are your key customers? 2. Do you have any company-wide or Retailer specific programs on a national level that you would like to tie in? 3. Do you have any new products, line extensions or new package designs being launched? When? Do you have distribution yet? 4. What is your Digital Strategy? Build engagement, database, traffic, ecommerce? 5. Do you like the idea of special promotions that tie-in additional partners?

32 CNA: Key Questions Don t hang up until you get an assignment 6. How far out are you planning? How many months lead time do you need to get funding? 7. What are the most successful programs you have done and what are the elements that have been important in that success? What are the least successful programs that you have done? Why didn t they work? 8. How did you measure the results of these programs? 9. Do you have any sales issues that are specific to regions or departments with (Retailer / Account)? 10. If there were one thing I could do to help you in the (Retail Account) region, what would it be? Time of year? Merchandising layers? Product? Budget?

33 Don t Talk Listen! Have The Right Attitude Get on the buyer s side of the table Shift from persuading to understanding. It s not an exercise in persuading them to purchase. Shift from product focus to a buyer focus. Buyers are more likely to deal with sales persons who best understand the buyer s needs instead of the seller s own products or services. Goal is to conduct the Needs Analysis. The analysis uncovers buyer s needs. Customers become ready to buy by making those needs clear and strong. More sales are lost by doing a poor job in the needs analysis stage of the sale than for any other single reason.

34 At the Conclusion Two Goals Get the order Grow the relationship

35 Success Story: Hubbard Broadcasting Minneapolis Advertising elements Combined 5 radio and 2 TV stations Register on station s sites On air ad campaign Additional chances to win at Wendy s Wendy s cross-promoted on tray liners Prize tied in Sun Country Airlines Michael Fischer Triton Digital

36 Success Story: Hubbard Broadcasting Minneapolis Results Happy client Generated 10,000 entries per week 6 figure revenue for stations

37 Success Story- Case Study: Bassetts Ice Cream Campaign Custom landing page 10-second live commercials on morning show On air commercials Web leaderboard with link to landing page Listen live sponsorship with link to landing page Pre-roll video with on air personalities as talent Sampling coupons at WMMR events 37

38 Success Story- Case Study: Bassetts Ice Cream Results Wawa called WMMR Bassetts product gets placed in Wawa stores Bassetts buys ad schedule to support placement Over 150,000 pints sold per year Bassett s becomes Wawa s #1 selling ice cream Two additional flavors created by Preston & Steve 7-Eleven began stocking product 7-Eleven sells over 550 pints per day 38

39 Success Story Target Holiday Circular Media Plan of the Year 2010 winners - Mediaweek magazine Target Circular Sneak Peaks: Media Plan of the Year 2010 winners - Mediaweek magazine Recognized in the $1-$10 Million category for Radio Target Circular Sneak Peaks Sizzle Video : Link: 39

40 Success Story: Clear Channel/ Subway Fresh Artists

41 3 Keys for Sales and Renewals 1. Do your homework Research the company before you call Do a thorough Customer Needs Analysis Use your RAB tools 41

42 3 Keys for Sales and Renewals 2. Find more than one decision-maker Sales Marketing Digital Corporate Communications Event Marketing Etc. 42

43 3 Keys for Sales and Renewals 3. Work your leads Ask for referrals Follow up Don t over-promise; do over-deliver! Send a professional recap of the campaign 43

44 Growing Ad Categories Automotive Beverages Energy / Sports Drinks Beer / Wine / Spirits Electronics Entertainment Financial Services / Banking Healthcare / Pharmaceutical Home Improvement Insurance Retail Restaurants Sponsorships Telecom /Wireless/Mobile

45 RAB Resources

46 RAB Resources

47 RAB Resources

48 RAB Resources RAB Resources Articles on Demand 48

49 RAB Resources RAB Tools Articles on Demand Instant Backgrounds 49

50 RAB Resources RAB Tools Articles on Demand Instant Backgrounds Golddigger Reports 50

51 RAB Resources RAB Tools Articles on Demand Instant Backgrounds Golddigger Reports Radio Sales Today 51

52 RAB Resources

53 RAB Resources

54 7 Steps To Selling Success

55 Questions?

56 Radio Advertising Bureau Webinar Deep Dive Contemporary Approaches to Big Dollars Brandeis Hall VP Training Radio Advertising Bureau