6 Ideas for Making More Money
Okay, so you’ve spent some time learning the difference between reach and frequency. You have visited research sites and read industry ‘white’ papers. You know the difference between a feature and a benefit. And you know the difference between an 18 to 25 year old male who wears predominantly blue collars versus the mothers of all people 10+ who are married to people who wear white collars and drive cars valued between $25,000 and $31,995.
Now however you need to make some money. Instead of competing with other advertising sellers in your market for a new client the same old tired way get creative. Here are six ideas ways to get started:
Throw a simple cocktail party every few weeks. Invite eight to ten prospective advertisers to your media house. You supply the drinks and the food. Give your prospects a tour of the ‘stars’ and the production facility – its all ‘Hollywood’ to them. Let them watch someone read the news; or take a few calls; or announce a few bits of music; or meet some journo’s. Get everyone involved from the receptionist to the MD (advertisers do pay our salaries without them we’re nothing).
Don’t underestimate the fact that we are in show business. Have some mock-ads for your guests produced a few days before. Have them ready to roll in the production suite, or pre-printed in some magazines or papers and watch the smiles grow. Don’t sell anything during this time. Give them some freebies and send them on their way – perhaps a copy of their mock-ad. I am sure you get the rest.
MOVE IN DIFFERENT CIRCLES
Start a new activity that involves meeting business people – specifically one that involves meeting new business prospects. You might be a little nervous to walk into a class on “financial planning for small business” or “The Australian Success Institute’s Winning with Small Business Course”, but the benefits you will reap will be enormous. If nothing else you may learn something. We suggest any growth group really – we are not endorsing the Australian Success Institute merely just painting a picture.
Try one-time volunteering gigs. Spend time at the weekends cleaning up a park, entertaining kids, or playing with the animals at your local Humane Society. Check with local Web sites or a nearby Chamber of Commerce and get involved because good things happen to good people. Besides you never know whom you will meet.
UPDATE YOUR LOOK
Taken a look at your client proposals lately? Often what we can’t see can be seen by others. Perhaps your props are dated or even boring. Spend some time critiquing what it is you are leaving on people’s desks or in prospects hands. Does your collateral scream “you ought to be doing business with me”?
Obvious but valuable. Do you know how many businesses exist within your reach? Make it a point to find out. We guarantee you will be more than surprised at the number of businesses available to you but more, freaked out about how much business you are missing out on.
Make it a weekly point to scan the classified section of the newspaper for new business registration and / or license application. By law new business must make public notification as to their registered business name, their trading name, and their commencement date of business. These notices often include addresses, phone numbers, and directors’ names. Hmmm.
EXPAND YOUR HORIZONS
Relax your prospecting criteria. We all know we’d prefer targeting and client alignment to our media platform to be a precise science, but the truth is that advertising isn’t a purely logical endeavour. Yet we insist on making our life tough by trying to fit our prospects into a perfect box containing a business, product, or service that suits our target, our prime demographic, and our platform. Learn to relax some of your criteria and open your mind – that’s what great advertising is really all about.
Sell without regret.
Michael Tate: Sales Director International – NRS Media
Michael has a vast knowledge of effective media use, advertising and advertising sales management built over the last 25 years working with some of the world’s largest TV and radio groups.
He is a highly sought after key-note speaker and advertising sales trainer at major industry bodies like the Radio Advertising Bureau, the Texas Broadcasters Association, and the Oregon Association of Broadcasters. Tate has successfully worked with advertising sales managers, their staff and clients in 12 countries including the USA, UK, Canada, Ireland, Norway, Malaysia, Taiwan, Hong Kong, Philippines and Australia.