Friday Poll: Your Prospecting Techniques

    • 1373 posts
    October 27, 2011 9:24 PM PDT

    Happy Friday, everyone!

     

    Here is this week's poll question:

     

    Do you or your salespeople actively seek out new prospects, and if so, how do you go about it?  Via cold-calling, social networking, or other means?  What do you do to identify and open relationships with prospective advertisers?

     

    Looking forward to reading your replies!

     

    • 6 posts
    October 28, 2011 4:26 AM PDT

    When looking for prospects, I try to encourage my salespeople to think outside the "box"...WAY outside.  As all of you know, we all have different initiatives over the year that focus or appeal to different types of advertisers. i.e Wedding Features, Christmas Features  ect

     

    What I like to do is look at each one as a single prospecting job...to give an example, for my upcoming Wedding Expo I buy local bridal magazines, fill out all the request more information cards (with a special non-work email address and my home address) sign up for local wedding websites, register to win local bridal contests ect.   Within ONE week, I am flooded with more leads then I need for that catagory.

     

    This works for almost all catagories...all it takes is a quick set up of a separate email account and a few minutes each day to get on mailing lists.

     

    Hope this helps.

     

    Nikki

    • 15 posts
    October 28, 2011 5:05 AM PDT

    We utilize many sources for finding new business. Networking at local Chamber events, asking our clients for referrals, online newspaper sites, serving on local nonprofit boards, listening to competing radio stations, direct mail, newspaper phonebooks. .

    We also reward our clients with a free schedule when they send us new business.

    Other ways to get in the door:  I have a great realationship with a sandwich shop that will deliver food to prospective clients, and current clients. I sent  a note - compliements of........ thanks for etc.

     

    Another idea: Drop off a fed-Ex envolope with a scatch ticket and spec spot.. They will open it in most cases..

    Spec Spots work best in all cases when you want to get a new prospectives attention.. This shows you have done your rescearch and that you are truly interested in the success of their business

     

     

     

     

    • 15 posts
    October 28, 2011 5:06 AM PDT

    Wow, what a great idea....

    Thanks

    • 26 posts
    October 28, 2011 5:14 AM PDT

    Prospecting has been a huge part of my growth as the newest sales person in our group. I start with checking my competitors to see who is being active (and in our market, new businesses tend to run in the newspaper first). I attend trade shows of all kinds to get new business names, contacts and be seen myself. I search the web for trade associations and organizations (it's amazing what you can find through Google) in our area - many of which often post their members. I joined an international business networking group in addtion to attending chamber functions and events. Finally I have all my friends and family members on the lookout for new businesses (a huge factor in our market) and potential clients. It's a 24/7 thing for me, but it's built my business up incredibly in the past three years!

     

     

    • 34 posts
    October 28, 2011 7:04 AM PDT
    As an OLD school radio guy, my prospecting is strictly cold calling face to face. I came from a time in radio when a network was what brought the news to us and when automation was someone's dream. I am never as successful as I would like to be, but if I was completely satisfied with each month's numbers, it would be time to try another line of work.
  • October 28, 2011 7:18 AM PDT

     Prospecting is the life blood of a salesperson and a station. It is imperative that a salesperson keep enough business opportunities in their pipeline in order to achieve their financial goals as well as the stations. Prospecting ie...opening the door to conversation or setting an appointment is an everyday activity. There are a million ways to ask someone to go out on a date...there are a million ways to prospect. It is not about how one goes about prospecting, it is about what you say!  How you go about creating interest or desire for your particular audience. Two, very simple...very old...very non glits ways are; The telephone, yea, the telephone...Saves on gas...Saves on shoes...a person a can call a lot of people in a short period of time. Second "Walk in" and ask for the owner. However be prepared to say something that will get their attention and interest. When you stop prospecting...you are saying; I make enough money thank you...No one will ever cancel or go out of business...and sadly you expose the fact that maybe...just maybe you're not that smart.         

     

    • 455 posts
    October 28, 2011 8:12 AM PDT

    My best prospecting tool is BNI (Business Networking International). The members and visitors are always prospects and I have 30+ people actively looking for business for me.

    On a related subject, I think we sometimes get to focused on finding new clients at the expense of client retention. It's much easier to keep a client and build billing there than get a new one. After you sell them the first time, every other sales person in town is telling them how their product is better than yours.

    Take a look at your top 10 billing clients from 5 years ago and look at who they are today.  

      

     

  • October 28, 2011 8:33 AM PDT

    Good Morning RSCers. 

    I picked up a great habit when I was preparing to move to Vegas.  I got online with the county and the city to see if there was an online database of business licenses.

    What I found was that many times new business licenses were being approved everyday!  This was like connecting to an direct pipline into my funnel.  Not only could I check everyday on the new businesses, but I could search back a year to find those businesses that were coming up on their first year anniversary.

    Now Vegas is a peculiar market, and other makets may not be so easy to track down.  But even here in a much smaller market in South East Washington I can pull the list of all the new business licences approved for the previous month.

    So every month I have 10 or so new leads to share with my staff.

    Do some digging.  Find out if businesses in your area must be licenced in the city, county, or state.

    If the licence approvals are not available on line, you should be able to obtain a copy of the list for a nominal fee.

    This is a great way to reach out to businesses even before they have opened their doors, insuring that you can be the first to leave a great first first impression!

     

    Bob the Bear

    Have a great weekend every one!!

    • 41 posts
    October 28, 2011 8:52 AM PDT
    The ABCs of selling used to be (and still is) Always Be Closing, for finding new customers it's Allways Be Prospecting...Wait thats ABPs, oh well.  No matter the business their is always a fall off of existing customers, one reason or another, no matter how hard we try, every business looses customers.  Another vender, change of management, death...there are lots of reasons they go away even when given fantastic service; we must always continue to fill the hopper of prospects.  I started physical therapy and now I have an appointment next week with my new physical therapist; need flowers to get out of the dog house...a new florist goes on the air; chat with people in the grocery store, you could be in line with a key decision maker.  ABP!
    • 1373 posts
    October 28, 2011 9:12 AM PDT

    From Kathie Easton:

     

    Constantly seek out new advertisers everywhere you go!  When you're driving around, check out the trucks, vans, etc. with their business name and often numbers on the side.......Attend Chamber After Hours......look at the newspaper, then throw it away (everybody else does), yellow pages, church, etc.

     

    All of that is well and good, but the biggest problem that I've seen in most new salespeople is the ability to qualify them once they've found them.  Don't waste your valuable time on a business who "doesn't get it" or won't spend enough to get results.  They'll be out of business in no time or struggle along to an agonizing death at some point.  Then there are "hobby" businesses......You know them, that little downtown business - consignment shop, novelty store, junk jewelry, etc.  The owners undoubtedly just needed something to do and if they thought they'd make a serious living at it.....well avoid them too ......There are thousands of other businesses and business categories to call on.

    • 84 posts
    October 28, 2011 9:42 AM PDT

    These are all GREAT ideas... but please make sure you ALSO use Radio... I've been told it is a good way to reach people! ;o) 

    We run radio ads to invite people to do business with us. I get a TON of calls... I had three people call me yesterday from these ads. I think the MESSAGE is the most important part.

     

    Also...I see someone mentioned BNI... we are just in the early stages of launching our own leads group. I have spoken to MANY potential clients that lay out $500+ per year to BNI (and others) and get very little back. Oh... the groups DO work... but the PEOPLE in the groups are what work... I'm not sure what value BNI (or others) bring to the group.

     

    We are going to launch our own leads meetings... in ADDITION to the group... you will also be featured on the radio. Now your $$ is going to something of value.

     

    Let me know if anyone else is doing anything like this... please feel free to connect directly to me.

    • 33 posts
    October 28, 2011 6:36 PM PDT
    Nice Nikki
    • 37 posts
    October 31, 2011 1:47 PM PDT
    BNI more than pays for itself year after year for us too. We've been a member in our city for five plus years and it's great.
    • 37 posts
    October 31, 2011 1:55 PM PDT

    We have been using our station to drive leads and it does work well. What has worked better for us lately is an advertise with us link on our website. It is a form that gets filled out on our website and I instantly get an email once it's filled out. usually get 2-3 a week with a 80% or so sign up rate.

    BNI Works well for us. We make all of our money back in the first couple of months and usually at least triple our investment each year with very little work involved. We do have a very solid chapter though.

    • 118 posts
    February 19, 2016 9:07 AM PST

    I'm more old school in my approach and most of my experience selling was in smaller markets.  In my present situation in a top 10 market the plan would need revision.

    My philosophy is 20% of your clients will go away each year so at least 20% of your effort needs to focus on gaining new clients and fresh believers in radio.  25% is better.  

    Naturally, checking all other local media is essential.  We assigned each salesperson certain media to monitor each week at our Monday organizational meeting.  We also looked at government for new commercial building permits and new business DBAs that were filed.  We also were involved with anything that involved local businesses, such as the Chamber of Commerce and anything else that business owners attended.  

    If we saw a building going up, we'd stop and ask what they were building and who owned it.  My owner gave us a little budget for a little 'thank you'.  For example, a group of construction workers that helped me reach a potential client might get a few bottles of cold Gatorade the next sweltering hot day.  An early call might come with a dozen donuts.  Again, the idea was to be different and be remembered above the rest.

    I think nothing beats the one-on-one in person cold call.  Sure, it takes time, but it distinguishes you as one that does not take shortcuts and is willing to cultivate a relationship.  In my mind fact to face builds trust quicker.  

    I include agencies. If they are across the country, we'd mail our contact something that they would use so our call letters were more familiar.  I recall a call to one agency where the lady said she had a big glass of iced tea in the tumbler we mailed her.  If you can visit the agency, I like to come with a certificate for a free dinner for two or something like this to say 'thank you' for seeing me.  I generally made such a call simply a 'social' one.

    At one Texas/Mexico border station, back when the Peso was worth little, I sent a high denomination Peso banknote to distant agencies in a clear envelope that was printed with the station call letters and city plus the line:  Peso little, get so much.  I got calls asking what the bill was worth in US Dollars.  The trick is standing out.

    I encouraged my staff at one station to offer a free marketing consultation with new businesses with details of all media options and give positives and negatives for each.  Most were shocked that we'd do think.  Sure, it was outside the box, but our objective was to position our reps as not just sellers of our station but folks who were experts at marketing locally. It was purely 'educational' and those who allowed us to do this seemed appreciative that we took the time and seemed to trust us more.  It was gutsy to lay out the marketing options in the community but more often than not we got referrals and we'd typically get the sale.  We clearly stated all the marketing options were good or they wouldn't be around, but some will be a better fit for you.  Our objective is to assist the client in making cohesive and informed advertising decisions that are a good fit for their product or service.  We included advertising basics and business specific suggestions.  For example, at a heating and air company, I suggested a business card with the employee's photo on it. We found that made the person at the home feel more comfortable when that stranger knocked on their door. 

    I should also point out that visiting the business lets you also get to know the staff.  If you treat them with the same value and respect as the client, they tend to rally behind you and help you get the buy.  One business where I just never seemed to get my timing right, the receptionist asked for my pager number (remember those?) and said she would page me as soon as the owner was back and could talk to me.  Believe it or not, I got a buy on the first call, maybe thanks to the receptionist, I don't know.

    Literally, any way I can reach a potential client is game for me.  I like face to face best.  I strive to stand out and I strive to make the client realize they are important to me.

    I suppose you can say I have been lucky to have worked for folks who ran stations that ruled the market.  In one place, a small town with several stations, our AM/FM combo got 40% of the market's radio dollars.  We were 2 of 10 stations but then again, my owner had been running some top stations in a Top 50 market before buying the station I worked for.

    • 21 posts
    February 19, 2016 9:11 AM PST

    I don't ever stop prospecting.  I like to take every opportunity to get new leads.  No matter where I go I look for opportunities that can be turned into cash.   Even when I'm out of town, for example when I visit my sister a few hours away, if I see a big advertiser that I may think might benefit from clients from my area I call them i.e. weight loss centers or surgery centers. 

    I ask my existing clients for referrals, who better to give me a lead than a happy client. 

    I live in a small market with too many sharks.  Not only do I have to compete with other radio reps but also within the company. 

    • 5 posts
    February 22, 2016 7:56 AM PST

    I actively seek new advertisers always.  Tools most utilized when prospecting are monitoring other radio stations, internet search (Chamber lists of new businesses), banners, grand opening signs, direct mail, signing up for notifications from local businesses and networking in the community.