THE NEW SCHOOL What Is Media Selling?

THE NEW SCHOOL Basic Assumptions People are complex and basically trustworthy. Can’t have a peaceful society if you believe the opposite. Selling is a worthy calling. The media are highly visible, important for an informed society and under attack, especially from the right.

THE NEW SCHOOL What Is Selling? Selling is about getting customers and keeping them. Media selling (B2B) is about getting results for customers. It involves a process of helping customers get what they need, and often they don’t know what they need.

THE NEW SCHOOL In today’s frenetic business environment relationships are not necessarily easy to establish before a sales proposal or are always the key to success. Insights are the key to success. Research from the Corporate Executive Board, as indicated in The Challenger Sale, shows that in the current business environment, customers don’t always know what they don’t know and crave insights and solutions that can help them run their businesses more effectively and efficiently.

THE NEW SCHOOL Thus, the most powerful sales approach is based on: 1. Teaching 2. Tailoring 3. Taking control of the customer conversation

THE NEW SCHOOL What Is the Purpose of Your Business? To “create a customer” Peter Drucker “To bring our audience and advertisers together” - KOMC/KRZK, Branson, MO “To help people sell more Fords,” Lowry Mays, former CEO Clear Channel Communications

THE NEW SCHOOL What Are Your Sales Goals In the Media? 1. To get results for customers 2. To develop new business 3. To retain and increase current business Presell Upsell 4. Increase customer loyalty Teach (give insights) Tailor (not one size fits all) Easy to buy

THE NEW SCHOOL What Are Your Sales Strategies? 1. To provide insights into problems, challenges and solutions that potential customers and customers weren’t aware of. 2. To sell solutions to marketing and advertising problems (“challenges”) − Complete customer focus – delight customers 3. To reinforce the value of advertising and of your medium’s benefits − Understand the ecosystem

THE NEW SCHOOL Strategies 4. To create value for your product 5. To become the preferred supplier − To continually provide insights and ideas − To establish, maintain, and improve relationships at all levels of the client and agency (keep agency informed)

THE NEW SCHOOL Strategies 5. To manage expectations − Underpromise and overdeliver 6. To innovate − New insights − New packages, new products, new promotions − New creative approaches − New technology − “The only functions of an enterprise: marketing and innovation.” Peter Drucker

THE NEW SCHOOL What Are a Salesperson’s Key Functions? 1. To position your product to have a differential competitive advantage 2. To align the features and advantages of your medium and your offer with an advertiser’s objectives (KPIs – Key Performance Indicators) 3. To provide insights and solutions, which create value, after which you can build relationships and trust − To empathize (understand their business) − To develop partnerships

THE NEW SCHOOL Key Functions 4. To educate (evangelize) 5. To create a sense of urgency 6. To communicate effectively internally – up, down and across Keep your management and coordinator informed From the street, bring back market and competitor information

THE NEW SCHOOL Biggest Problem People do what they are paid to do. Wrong incentives lead to wrong, counter- productive behavior. Wall Street and bankers had the wrong incentives, and the sub-prime mortgage debacle led to The Great Recession Paying salespeople based solely on commissions on their revenue makes them focus on their interests not customers’ interests.

THE NEW SCHOOL How Do You Start Doing It Right? 1. With an ethical, non-manipulative, insight- oriented, solutions-based sales approach 2. With the attitude that you are helping your customers get results, as they define results 3. With a well-organized, analytics-based, strategic, disciplined sales system The right process that creates an excellent sales experience The right approach that provides insights and solutions (The Challenger Sale)