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8 Sales Manager Skill Sets That Assure SuccessPresented at the NAB Show, Las Vegas, April 11, 2011
Radio Advertising Bureauwww.rab.com
Copyright 2011Page 1
8 Sales Management Skill Sets
www.RAB.comwww.RAB.com
PRESENTER John Potter
VP Training
Radio Advertising Bureau
RAB CertificationsRAB Certifications
• Certified Radio Marketing Professional
• Certified Radio Marketing Consultant
• Certified Digital Marketing C lConsultant
• Certified Radio Sales Manager
Sales Management Skill SetsSales Management Skill Sets
1. Leadership
2. Recruiting, Hiring, Firing
3. Compensation
4. Accountability
5. Sales Meetings
6. Budgeting
7. Pricing
8. Training
8 Sales Manager Skill Sets That Assure SuccessPresented at the NAB Show, Las Vegas, April 11, 2011
Radio Advertising Bureauwww.rab.com
Copyright 2011Page 2
LeadershipLeadership
Management
LeadershipLeadership
Ethics
PoliciesPolicies
Performance
MBO
Budgets
LeadershipLeadership
Set goals and expectations
New business
Direct
Alternative RevenueAlternative Revenue
Interactive
Projects
Improvement
Action
8 Sales Manager Skill Sets That Assure SuccessPresented at the NAB Show, Las Vegas, April 11, 2011
Radio Advertising Bureauwww.rab.com
Copyright 2011Page 3
LeadershipLeadership
Develop your plan
Budgeting process
Account management
Performance measurements
C i iCommunications
Pricing
Packages and promotions
LeadershipLeadership
Top 10 Most Common Management Mistakes
1. Assuming everyone is like you
2. Insufficient communication
3. Failure to listen
4 Thinking your title makes you right4. Thinking your title makes you right
5. Being reactive
6. Waiting too long to terminate
7. Failure to interview
8. Fear and intimidation
9. Not knowing answers
10. Allowing fear
Recruiting, Hiring, FiringRecruiting, Hiring, Firing
Pre-hiring assessment
Need
ROI
ConsiderationsConsiderations
Employee income
COS for company
8 Sales Manager Skill Sets That Assure SuccessPresented at the NAB Show, Las Vegas, April 11, 2011
Radio Advertising Bureauwww.rab.com
Copyright 2011Page 4
Recruiting, Hiring, FiringRecruiting, Hiring, Firing
Recruiting
Other industries
Other media
Clients
Your repsYour reps
Recruiting, Hiring, FiringRecruiting, Hiring, Firing
Hiring ProcessJob description
Job posting
Expectations
EEOEEO
Advertise
Review applications
Interview
Check references
Extend offer
Recruiting, Hiring, FiringRecruiting, Hiring, Firing
Hiring
Don’t tell too much
Set a positive tone
Explain interview
K th kill Know the skills
Take notes
Call in finalists
Third meeting
Check references
Extend offer in writing
Stay legal
8 Sales Manager Skill Sets That Assure SuccessPresented at the NAB Show, Las Vegas, April 11, 2011
Radio Advertising Bureauwww.rab.com
Copyright 2011Page 5
Recruiting, Hiring, FiringRecruiting, Hiring, Firing
Termination
Document performance
Meet with employee
Put in writing
H itHave witnesses
CompensationCompensation
Purpose of compensation plans
Reward performance
Motivate behavior
CompensationCompensation
Two questions to ask yourself:
Am I getting the levelf ff l
Does my compensationplan adequately reward the level of effort, of effort, compliance
and performance thatI need from mysalespeople?
the level of effort, compliance andperformance?
8 Sales Manager Skill Sets That Assure SuccessPresented at the NAB Show, Las Vegas, April 11, 2011
Radio Advertising Bureauwww.rab.com
Copyright 2011Page 6
CompensationCompensation
Compensation plan elementsSelling goals
Business type
Business model
Business objectivesBusiness objectives
Management objectives
Common plansStraight commission
Salary plus commission
Guarantees
CompensationCompensation
IncentivesCompetitive, individual, team
Rewards
Value = week’s income
CashCash
Trips
Electronics
Gasoline
Clothing
Spa
Paid time off
Recognition
AccountabilityAccountability
Sales SkillsCommunication
Prospecting
Telephone
Appointmentspp
Interviewing / listening
Solutions
Presentations
Closing
Service
8 Sales Manager Skill Sets That Assure SuccessPresented at the NAB Show, Las Vegas, April 11, 2011
Radio Advertising Bureauwww.rab.com
Copyright 2011Page 7
AccountabilityAccountability
Product KnowledgeYour station
Competition
Advertising
Marketingg
AccountabilityAccountability
Conceptual AbilityMatching needs and solutions
Blend facts and emotion
Ad creative
AccountabilityAccountability
Objective measurementPercent of goalRevenuePercentage over last yearNew business accountsNew business revenueNon‐Traditional RevenueAverage number of accounts on airAverage order sizeAverage order sizeAverage spot rateAverage rates per daypartPercent of orders in prime and non‐primeClient retentionReceivables within 90 daysNumber of written presentationsNumber of demo spotsAdvertiser successesClosing ratioAmount of Non‐Traditional RevenueInteractive revenue
8 Sales Manager Skill Sets That Assure SuccessPresented at the NAB Show, Las Vegas, April 11, 2011
Radio Advertising Bureauwww.rab.com
Copyright 2011Page 8
AccountabilityAccountability
How & When to Measure
Informal• On calls• In office
Formal• One-on-ones• Quarterly
Sales MeetingsSales Meetings
When to schedule
Punctuality
AgendaInformation
Ideas and resources
Improving
Action items
Ideas that workGood start
Positive attitude
Diplomatic
Refocus
Recognition
BudgetingBudgeting
Preparation
Historical
Year-long notes
Write a narrative
Local economyLocal economy
Advertising
Competition
Staffing
Pricing
8 Sales Manager Skill Sets That Assure SuccessPresented at the NAB Show, Las Vegas, April 11, 2011
Radio Advertising Bureauwww.rab.com
Copyright 2011Page 9
BudgetingBudgeting
Involve your staff
Narrative
Top 20 analysis
Account-by-account projections
Personal goalsPersonal goals
BudgetingBudgeting
Put it into Excel
Local
Regional
National
O iOn air
Alternative revenue
Event
Digital
PricingPricing
The price?
Sell the Value!
8 Sales Manager Skill Sets That Assure SuccessPresented at the NAB Show, Las Vegas, April 11, 2011
Radio Advertising Bureauwww.rab.com
Copyright 2011Page 10
PricingPricing
12 x 24 x 7 = 20162016 x 52 = 104,802
+ $1 ? + $10?
PricingPricing
Pricing mistakes
1. Serve least profitable clients2. No internal procedures3. Insufficient resources4 Not forecasting competitor reaction4. Not forecasting competitor reaction5. Incentivize only on revenue6. Hold prices too long7. No segmentation of clients8. Same profit margin9. Base on marketplace10. Base on costs
PricingPricing
Rate CardsFixed
Flexible
Rate ClassesAnnualAnnual
Pre-emptible
Number of commercials
Slow pay
Format targeted
Trade
Establish lowest rate
8 Sales Manager Skill Sets That Assure SuccessPresented at the NAB Show, Las Vegas, April 11, 2011
Radio Advertising Bureauwww.rab.com
Copyright 2011Page 11
PricingPricing
Valuing CommercialsSupply & demand
CPP
CPMCPM
Attitude & belief
Clients
Salespeople
PricingPricing
Maximizing Yield(Average Unit Rate vs Revenue Per Ad)
2 000 units per week2,000 units per week
80% sold, 1,600 units
$160,000 revenue, $100 average
$160,000 revenue, $80 RevPAd
PricingPricing
8 Sales Manager Skill Sets That Assure SuccessPresented at the NAB Show, Las Vegas, April 11, 2011
Radio Advertising Bureauwww.rab.com
Copyright 2011Page 12
TrainingTraining
What if you train your salespeople and they leave?
What if you don’t train them and they stay?
TrainingTraining
AreasProduct knowledge
Sales skills
Advertising
Marketingg
Advertiser categories
TrainingTraining
Two plans
New hires
Ongoing for existing sellers
8 Sales Manager Skill Sets That Assure SuccessPresented at the NAB Show, Las Vegas, April 11, 2011
Radio Advertising Bureauwww.rab.com
Copyright 2011Page 13
TrainingTraining
Two plans
New hiresProduct (Radio) knowledgeStation knowledgeSales skillsAdvertising & marketing
O i f i ti llOngoing for existing sellersAnnual planOne hour per weekMultiple weeksHomeworkReview & QuizRewardReinforce
SummarySummary
1. Leadership
2. Recruiting, Hiring, Firing
3. Compensation
4. Accountability
5. Sales Meetings
6. Budgeting
7. Pricing
8. Training
8 Sales Management Skill Sets8 Sales Management Skill SetsThat Assure Success
John PotterVP/Training
Radio Advertising Bureaujpotter@rab.com
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