Thursday, March 11, 2010

The New Client Generator

From Sandy Davis
Today's a very exciting day. We've been working on a very special new product, and after seven months of hard work, it's finally ready.

As a former radio General Manager, I used to get frustrated at how much work it took my sales department to generate new clients every month.

That was until I stumbled across a really simple powerful system for signing new clients for my radio stations.

Sounds too good to be true, but it isn’t if you have the right tools. Also, what I'm about to show you, dollar-for-dollar, provides a better R.O.I. than anything else.

It's called The New Client Generator, and it's been designed to help your sales team:

1. Cut down the lead time required to sign new clients.
2. Enhance your image with your current clients.
3.Target clients that are on your competitor's stations.
4. Re-activate old non current clients.
5. Close more Yellow Page and Newspaper advertisers
   
Talk to you soon,
Sandy Davis
President
ComStar Network

G.M.'s and G.S.M.'s Are Trying HotCopy For Free

G.M.s and G.S.M.s in Las Vegas, Columbia, Portland, Wilmington, Norfolk, Cleveland, Bakersfield, Columbus, Manchester, Honolulu, Toledo, Tallahassee, Scottsboro and many other markets have found out how HotCopy can improve their bottom line.

HotCopy is a database containing thousands of pieces of pre-written, proven copy, covering a vast range of topics in over 300 categories. 

Just copy & paste what you like on to your station's letterhead, add your client's specific information and you're done!  It's like having 5 copywriters in your sales department.

Why is it FREE?
ComStar is researching radio sales reps and sales managers to help develop the HotCopy system to better serve your clients. The beta testing of HotCopy is scheduled to end April 15 , 2010.

Is it really FREE?
  What are the strings attached? Yes. It is really very, very free. There's no prepayment, no minimum use, no subscription, no monthly fee, no credit card required, no commitments, no long term contracts, no nothing. You just  sign in and start creating. Your trial is totally risk-free.

Try it for yourself and share it with your team. In minutes you'll be generating impressive copy and spec spots for your clients. 

It only takes a few seconds to register. The free trial version of  HotCopy contains almost all the functionality of  the paid version, just with a smaller database of proven copy.

Just Click "Go"
And Start Your FREE Trial Today!

Radio NetNews

The war is heating up in the battle for local Internet dollars. Experts are saying in a few years 25% of all local advertising dollars will be going to the Internet. Hyperlocal websites are starting to take off. Is radio ready to defend it's turf?

Hyperlocal Websites Bring In 1,000 New Advertisers 

At Borrell Associates' Local Online Advertising Conference in New York, Fisher Communications CEO Colleen Brown was honored as Innovator of the Year for the TV group's headlong plunge into hyperlocal online media. 

Since last August, Fisher has launched more than 100 neighborhood sites in four of its TV station markets — Seattle; Portland and Eugene, Ore.; Bakersfield, Calif.; and Boise, Idaho — and brought more than 1,000 new advertisers into the fold.

Pandora Targets Local Radio

Internet radio provider PANDORA is reportedly set to seek more business from local advertisers in 2010 with a new sales team aimed solely at small and mid-size businesses, reports CLIKZ.COM.

The company is also partnering with ADREADY, an ad platform that helps smaller advertisers place display ads with publishers. 

"We've been getting a lot of request from small to mid-size businesses, and we had our premium direct sales teams fielding a lot of those calls," said VP/Performance Ad Sales BRIAN MIKALIS.

"We want our premium team focused on the largest FORTUNE 500 brands, but we didn't want to do nothing with those other requests. One of the differentiators for PANDORA from other traditional sites is every single one of our users registers and gives us their zip code, so we can do that local marketing down to the DMA level very easily," he said. "If you're advertising on local markets on radio, you can do the same thing on PANDORA." 

MIKALIS will manage the new local sales staff, which will be stationed in PANDORA's OAKLAND, CA, headquarters.

Motivating Your Staff

Motivation is one of the primary concerns and challenges facing today’s supervisors and managers. This article will introduce you to techniques for creating a proper motivational climate. You will also learn how to apply the techniques for motivating employees, prepare individual action plans to solve on-the-job problems, and identify causes of low morale and strategies for improving overall employee behaviors.

Your staff members are the key to your success, and motivation affects employee performance that ultimately affects the departmental, divisional and organizational objectives. Only satisfied employees lead to satisfied customer.

Motivated Employees Make Your Job Easier

To be a successful manager/supervisor, you must first understand that you cannot motivate anyone; you can only create an environment that encourages and promotes the employees’ self-motivation. Motivation is getting people to do what you want them to do because THEY WANT to do it. The challenge is to give them a reason to want to do it because doing it will satisfy a need they have. You have to tune in to their needs, motives and reasons, not yours.

Secondly, you must also know what kind of behavior you want the staff to demonstrate.In other words, what do you want the employee to do differently ? For example:Do you want your staff to be punctual, more committed to work; co-ordinate with others in a friendly manner; meet deadlines; assume more responsibilities etc. You must first be clear about your objectives and expectations before you can communicate them to your staff.

 • You Are the Motivator

The most important thing to keep in mind is that you are the most critical component in the motivation process. Your actions set the tone, trend and tempo of the process. Many managers / supervisors embrace a ‘carrot-and-the-stick’ approach to motivate their staff. These practices take the form of incentive programs, promises of promotions, rewards and bonuses. Some others employ the symbolic ‘whip or club’ by emphasizing the negative results of their behavior. For example, a manager might say: If you do not start coming to work on time, you’ll be fired ‘ or ‘You will never get ahead if you continue to make these kinds of mistakes’. All these methods are just short-term and create no permanent behavior change. 

Executives whose management style is dictatorial, uncommunicative and non-participative, need to revise their work style. Today’s environment requires them to be more empathic, communicative and more trusting of employees. An executive will be a ‘difference-maker’ if he can make his subordinates feel important and successful. Therefore, managers need to create a positive and caring workplace that encourages employees to become the best they can be. When staff feels good about themselves, they will perform better and be more productive.

There is no quick fix solution to a behavioral problem. Changing employees’ attitude takes time and patience. You will notice that what works well for one person may not work for another one. You may have to use the ‘trial and error’ until you identify and match the right method, or a combination of methods, to the relevant employee.

Understanding Motivation

Can you motivate someone? The answer is NO! Motivation is some thing that comes from within the individual to prompt him to an action. Motivation is a function of individual will. We do things because the outcome is appealing to us and serves as an incentive.

People are motivated by their unmet needs, and those needs differ from person to person. People’s needs are determined by their unique set of circumstances, culture, values, background, education, work experience and their personality styles.

Besides, motivation is directly related to the morale of the employees; that is, attitude of the staff toward their work, department, environment, management and organization as a whole.

Assessing Your Approach

You may find yourself puzzled by an employee’s apparent lack of motivation. You pay a decent salary and do not understand why this person is not performing well. The first step to real understanding is to accept the fact that what motivates you may or may not motivate your subordinates. Take a moment and priorities the following motivating factors according to what is important to you:

• Job security
• Good salary
• Fringe benefits
• Pleasant working environment
• Interesting and challenging work
• Recognition for doing a good job
• Cooperation of people I work with
• Feeling of personal accomplishment
• Participation in decisions that affect me
• Opportunities for promotion and growth
• Clear understanding of what is expected of me
• Loyalty and fairness of my manager/supervisor

Now go back over the same list and identify the order you think your subordinates would choose.

Research proves that executives are often totally wrong in predicting how their subordinates would rank the list. What is the outcome? Simply put, if managers misinterpret what is important to their subordinates, they will choose methods of motivation that are entirely off base. For example, a manager may believe that all employees are motivated primarily by money. So, the manager gives everyone a bonus. Much to his surprise, employee performance does not improve. What the manager does not realize is that there may be some other factors that are more important to the employees.

 So, how do you find out what motivates your subordinates? Well, you could ask them to complete the above assessment as a start, although you may not get accurate data. The best way is to talk to your staff and really listen to them. They will let you know indirectly or sometimes even directly what is important to them. For example, if you have an employee who frequently asks you, “How am I doing? ” or “Did you like the way I handled that project?” It indicates that particular employee wants and needs recognition.

Identifying Your Managerial/Supervisory Role

At this stage, this crucial question might be vibrating in your mind: As a supervisor/manager, what is my role in the motivation process? Your responsibility in motivating the staff is to create an environment that promotes motivation within the individual. Good leadership is getting people to do what you want them to do because they want to do it. So, you must first understand employees’ needs and then show them the benefits of moving them from where they are to where you want them to be. In other words, find out the WIIFT: What’s In It For Them.

Times have changed and so have employees. What worked ten or fifteen years ago is not appropriate for today’s employees. In order to be effective in creating a positive motivational climate, we need to take a look at what characterizes today’s employees. The following points are the hallmark characteristic of contemporary employees :

• They desire developmental opportunities
• They want work to be challenging, interesting and creative
• They want to participate in all those decisions that affect them
• They see remuneration as the outcome of their performance and, consequently, they expect to be rewarded accordingly
• They are more concerned with organizational recognition than their recognition at the managerial/supervisory level
• They expect and appreciate communication from management and the opportunity to communicate to management.

Take a moment and think about the implication of these characteristics on the workplace and your responsibility to motivate.

Research shows that the employee motivation falls into two categories: maintainers and motivators. 

Maintainers are factors that must be kept at a satisfactory level and include the following:

- Salary and fringe benefits
- Organizational policies
- Working conditions
- Job security
- Supervision

True motivators are factors that create an inner desire to work by satisfying certain needs that are important to the individual employee such as…
- Achievement
- Recognition
- Job position
- Responsibility
- Advancement

As an enterprising supervisor/manager, take a few moment and analyze your department/organization based on these two above categories.

What Motivates Your Employees?

Do you know what your employees really want ? Their answers could surprise you. Talk to your staff members to find out what you think employees want and what employees really want are at opposite ends of the spectrum.

Rank the following most common motivators in terms of how effective they would be for motivating you and your employees:

Motivational  Ranking   Ranking for Factors for your employees:
1. Money …… ……
2. Job Security …… ……
3. Fringe Benefits …… ……
4. Promotion ……  ……
5. Self-improvement …… ……
6. Working Conditions …… ……
7. Interesting Work …… ……
8. Recognition …… ……
9. Appreciation ……  ……
10. Feeling Informed …… ……

Your response to this list will highlight fact that what you, as a manager or supervisor, consistently see yourself as being motivated by different factors than your subordinates. You will also feel that the best ways to motivate employees are the traditional trio of motivators: job security, financial rewards and promotion. But these traditional motivators are scarce resources for the manager/supervisor, and cannot be provided by every organization under today’s working conditions. Consequently, the majority of the employees remain unsatisfied if these are the executives’ primary means of motivation.

Motivating Through Self-Esteem

Research shows that employees do want to make a difference at work; they want more meaning and fulfillment from their job. A manager or supervisor motivates his staff members by getting them involved and committed to the tasks that need to be done, not by forcing them. He uses the natural desire of people to make a difference at work and moulds it into focused activity. Besides, he also applies the following time-tested formula for motivating his people :

Motivating employees by VIP: Validation, Information and Participation:

1. Validation
• Respect for employees as people
• Flexibility to meet personal needs
• Encouragement of learning, growth and skills
2. Information
• Knowing why things are being done
• Getting inside information about the organization
3. Participation
• Involvement in decisions that affect them
• Employees having control over how they do their work

Applying Techniques

In order to become an effective supervisor/manager, use the following techniques to create an environment which excites staff member to work:

Use appropriate methods of reinforcement. Rewards should be tied directly to an individual’s performance. If you have determined that meeting deadlines is important, then the employee’s performance in rendering that service should be rewarded; e.g., the employee who goes an extra mile to complete the project should be acknowledged and rewarded accordingly. However, keep this fact in mind that reinforcement is personal. What reinforces one person may not at all reinforce another one. It is also important to dispense reinforcement as soon as possible after the desired performance.

Think of a recent incident when one of your employees went above and beyond the call of duty. Did you reward him in some way? If not, what could you have done to reinforce the behavior you want repeated?

Provide the staff with flexibility and choice. Whenever possible, give employees a chance to make decisions, particularly when they affect them in some way. Choice and the personal commitment that results are essential to motivation. People who are not given the opportunity to choose for themselves tend to become passive and lethargic. For example, if you are thinking of rotating the employees’ work, give them the parameters and then allow them to rotate themselves.

Provide staff with support when it is needed. One key characteristic of the achievement-oriented staff is the willingness to use help when it is needed. Employees should be encouraged to ask for support and assistance; otherwise, they will become frustrated. Asking for help should never be considered a sign of weakness; it should be considered a sign of strength. When an employee comes to you for help, be careful not to turn him off with comments such as ‘ You still don’t know how to do that? I already explained it to you.’ Instead, ask: ‘ Tell me where you are having problems. How can I help you?’

Encourage employees to set their own goals and objectives. Let them participate actively in the goal-setting process. People tend to know their own capabilities and limitations. Besides, personal goal-setting results in a commitment to goal accomplishment. For example, in setting a production goal, ask your staff to come up with a realistic monthly goal and a plan to reach that number. Then you should sit down and evaluate the goal by applying the following criteria:

- Is the goal specific? Write the goal so that anyone would be able to identify exactly what you are going to accomplish.
- Is it specific and measurable? Identify the deliverable.
- Is it agreed upon? All those involved must agree. In most cases, this means the manager and the employee who make it happen.
- Is the goal realistic? Make sure that you have all the appropriate resources (that is, time, skill, equipment, environment, money) to successfully reach the goal.
- Is it time-bound? Set deadlines, interim reviews, and target completion dates.
Think of an employee you would like to involve in the goal-setting process. Then outline how you are going to approach him. What will you say to communicate the reasons you are asking the employee to set his own goals? Are there any guidelines or parameters he should consider?

Demonstrate to the employees how their tasks relate to personal and organizational goals. Routine work can result in passivity and boredom unless employees are aware of how the routine tasks contribute to their own development and the success of the organization. Point out how their task fits into the big picture. A few extra minutes can increase productivity tremendously.

Think about a task one of your employees does routinely. Outline a plan to explain how this task ties into organizational goals.

Design tasks and environments to be consistent with the employee’s needs. What may satisfy one employee may not satisfy another. The observant supervisor/manager is well aware of the basic needs of the employee such as affiliation, approval and achievement.

Refer back to the list of motivators. Select two employees and try to determine what motivates each of them. Then identify what you can do to meet each person’s individual needs.

Clarify your expectations and make sure that employees understand them. Regardless of the size of your organization, you should have a job description for every position, clearly outlining qualifications and responsibilities. Also identify the expected standards of performance. For example, if you expect the secretary to answer the phone call within three rings, say so. Employees are not mind-readers. You cannot assume that just because they have experience in doing the job, they know what you specifically expect of them in that position.

Identify a position in your department/organization and write a job description for it. If you already have written job descriptions, choose one and review it to make sure it is clear and includes specific standards of performance.

Have a flexible management style. Many supervisors/managers pride themselves on treating everyone the same. This misconception can be dangerous. Employees are individuals with individual needs. You need to treat everyone fairly but not necessarily the same.

A flexible management style also means that you vary your approach not only to the individual but also to the situation. An employee who is new to the job will need more guidance than a five-year senior. However, if the senior employee is given a new task or responsibility, that person may need additional guidance in that particular situation.

How would you characterize your supervisory/managerial style? Do you use the same approach in every situation? Think about situations or employees that would need you to modify your style accordingly.

Provide an immediate feedback that will help staff improve their performance in the future. Feedback is most effective when it follows performance. Feedback should be relevant to the task and should indicate to employees how they might improve their performance.

Never give negative feedback without providing an informational feedback. Keep in mind that feedback should be both positive and negative. Employees often complain that the only time they receive feedback is when they do something wrong. Notice people doing something right and tell them about it. The feedback also must be specific. Just telling staff that they are doing a good job and ‘keep up the good work’ is of not much help. It is much more effective and meaningful to say something like: Ahmed, I appreciate the way you handled that challenging project. You really showed a great deal of professionalism by meeting the deadline’.
Identify a recent event in which an staff member did something outstanding. What, if anything, did you say about the employee’s performance? Would you say it differently now?

Identify and help eliminate barriers to individual achievement. Some staff members who are labeled ‘failures or incompetent’ are simply being hindered by relatively minor obstacles that their managers or supervisors have not recognized. It may lead the employee to accept the failure label as a fact. Does the employee have the knowledge and skills to do the job? If not, it is your responsibility to provide him with the required training. Does the person have the appropriate tools or technology? If not, get it. Make sure employees have the training, information, tools and right equipments to do the job.

Identify an employee who does not seem to be as motivated as you would like. Ask yourself if there is a barrier that perhaps you have not previously considered. Then plan how you might check out your strategy.

Exhibit confidence in employees. There is a great deal of research to support the contention that people who are expected to achieve will do so more frequently than others. Saying to the employees: ‘I know this new procedure may be uncomfortable and may be even difficult for you at first, but I know you will be able to make the adjustment’ is more effective than ‘Give it a try. If you cannot handle it, we will see what we can do about it’. The latter statement has conveyed the subtle message that you expect the person to fail.
The concept of ‘self-fulfilling prophecy’ is very powerful. Managers or supervisors who are positive create high performance expectations. They encourage employees to ask more questions; allow more time to do a job correctly and give their employees the benefit of the doubt.

Identify the possible ways in which you can demonstrate confidence in your employees.
Establish a climate of trust and open communication. Productivity is highest in organizations that encourage openness and trust. Trust and openness are created by the way we communicate. Do you use phrases that build people and get things started or ones that destroy ideas and discourage creative thinking ?

Review the following list. Which ones do you use more frequently?
• A great idea, but I am sure it won’t work.
• We don’t have the time for these suggestions.
• We’ve tried that before; it did not work well.
• It all looks fine on paper, but can you put it in practice?
• You haven’t considered the budget limitations
• We’ve too many projects now; let’s discuss it at some other time.
• That would be interesting to try; I’m glad you brought that up.
• Job well done; keep it up ! You’re on the right track.
• That’s the first time I’ve had anyone think of that.
• I have full confidence in you, and I appreciate what you’ve done.
• I’m sure, you can do it!
• I’m very pleased with what you’ve done.
• Go ahead, try it. I can always depend on you.

Can you think of some other statements to add to this list? 

If you find yourself using any of these ‘killer phrases’, then reword them to be more encouraging and positive. Be careful not to give the mixed messages. Employees receive mixed messages when the verbal and nonverbal actions are not communicating the same message. The manager who says ‘Carry on; I’m listening to you’ and continues to look through papers on his desk is communicating that he really is not interested in what the employee says.

Listen to and deal effectively with employees’ complaints. It is very important to handle problems and complaints before they go out of proportion. In addition, employees feel more significant when their complaints are taken seriously. Conversely, nothing hurts as much as when others view a personally significant problem as unimportant. By telling an employee ‘It is not a big deal’ or ‘You shouldn’t feel that way’ devalues the staff. You may not think it is important, but it is to the employee. Acknowledge the complaint and its validity then solicit the employee’s input in resolving it.

Think about a recent employee complaint that you regarded as trivial. How did you respond to the employee? Is there anything you should have done or said differently?

Point out improvement in performance, no matter how small. This is particularly important when employees are beginning work on a new project. Frequent encouragement is very effective in improving the staff performance; however, it should be reduced as the employees become more confident and proficient.
Identify an employee whose performance needs to be improved. Identify how you are going to communicate the desired change, how you are going to monitor the performance, and what you are going to say to offer encouragement.

Demonstrate your own motivation through behavior and attitude. Nothing turns employees off faster than a manager/supervisor who himself does not practice what he preaches. Actions speak louder than words; be a role model. If you expect staff to be on time, then you must make sure you are on time, too. If you expect employees to treat customers with courtesy and respect, you should treat the employees the same way. If you expect employees to get additional training to upgrade their knowledge and skills, you should also attend seminars and courses to fine-tune your management skills as well.
Think about any areas where you might not be modeling the appropriate behavior. What can you do differently?

Criticize performance, not personality; judge behavior, not the staff. An individual can do a task poorly and still be a valuable employee. Always remember to respect the staff. What goes around, comes around. Love begets love, and respect wins respect. A great manager shows his greatness when he talks to a little employee. Too many employees are inappropriately labeled lazy, inefficient, incompetent, useless or unqualified. Be sure to address behavior and not attitude. Managers often have difficulty distinguishing between attitude and behavior.

Take, for example, the following statement: ‘Ahmed doesn’t take his work seriously.’ Is that an attitude or behavior statement?

The answer is attitude. An attitude is a conclusion that identifies a feeling or emotion about an observed situation. A behavior, on the other hand, is something that can be observed. To state the above example in terms of behavior, you might say: ‘ Ahmed’s reports contain errors that require rewriting. He overlooks deadlines that affect the delivery of our quarterly project reviews.’ How might you rewrite the following statements ?
- She is incompetent in filing.
- ABC is slow in his computer work
- XYZ shows lack of interest in his job
- He is rude to colleagues

Measuring Your Success

In order to measure your managerial/supervisory success, you must first start with your own action plan. Select two or three ideas you would like to adopt and then respond to the following :
• Three things I plan to do differently in my department
• Obstacles I might face along the way and how I will overcome them
• I will know I have succeeded in becoming a more effective manager and motivator of people when .………

Radio Uses Local Portals To Capture Internet Dollars

Regent Communications and Barnstable Broadcasting are building digital platforms for local advertisers. Both broadcasters are experiencing significant growth from online portals that provide consumers with gateways and discounts to local merchants.
Local.com Reaches 50,000 Clients
Local.com a search network provider, announced that it acquired ten thousand new customers. This brings the company’s total of clients to more than fifty thousand.
 For More Info On HyperLocal Websites Click Here

Recession Proof Your Radio Station

The #1 Topic This Past Year In Radio Boardrooms across the U.S. with management was the recession.
 
We researched over 50 business experts on how to not only hold your own in this economy, but how to prosper with your radio stations. In no particular order here are some of the best ideas.


Stay positive. Remember, all recessions are cyclical. Take advantage of opportunities now so you’ll be in a great position when the economy improves. Make sure that any fear of being in business during the recession does not trickle out to your sales team, staff, or clients.

Take ownership.
Taking ownership is about change and making the changes necessary to move forward, changing behaviors that are not working, and dealing with the world as it is and not as you want it to be. Stop living in a dream world. The marketplace is not what you want it to be, hope it to be, or wish it to be. It is what it is.

Don’t blame the sales team.
  When sales are slow, it is easy to blame the sales team. Revenue is a company responsibility -- not just the sales team. In an unstable economy, the true value of your product or service is tested and if there are no buyers, it may be that your offering strategy is wrong.

Hire slowly, terminate quickly.
  During a recession, you cannot afford to carry employees who are not winners. Former President and CEO of GE, Jack Welch said, “In most large organizations, 10% of the people can work unsupervised, 80% need to be managed, and 10% should be let go for a number of reasons. You are not doing your company or them a favor by keeping them on”.

Keep marketing.
Are you thinking of cutting your marketing budget? Don’t. Businesses that maintain their marketing efforts during slow times come out of recessions healthier and with a larger market share than before the economy went downhill. Stay visible. It’s much easier and more efficient to capture market share when your competition stops marketing.

Hire great talent.
A lot of great people are going to be getting pink slips or taking early retirement as large corporations cut back. You’ll be able to attract employees with a wealth of experience and terrific contacts for far less than their old market value.

Develop a loyalty program.
It’s important to keep the customers you have. Set up a method to provide discounts or rewards to loyal customers.

Train your sales team better.
Your sales team is part of your company assets and intellectual property. Invest in your sales team and help them sell more. A little training will return your investment many times over for years to come.

Successful people know they need people to help them implement their ideas.
It’s all about people management, and getting them buy into the company’s goals. Your staff will work harder if they respect and like you.

Make “new” business a priority.
Develop a “new business” incentive for your sales team. Develop a “new advertiser” package for new potential clients. Make “new business” important to your sales people and station.

Improve your cash flow.
This is by far the most important thing to do for companies looking to survive and prosper in a recession. Increasing sales is not the only way to improve cash flow. 


Here are some simple and effective ideas:

-Collect accounts receivable early and delay accounts payable without incurring penalties.
-Delay capital purchases.
-Review payroll and other large expenses and look for cutbacks as appropriate. -Negotiate favorable rates and payment terms from suppliers or switch suppliers.
-Charge customers upfront fees/payments where possible.
-Trade where possible the full amount, or try 50% cash/50% trade.
-Find places where you can combine services, keep older hardware, or postpone raises.
-Reduce things instead of reducing people if you can help it. If you do have to reduce people see if you can reduce salaries across the board temporarily so you don’t have to let people go.

Maintain a good cash position.
Since no one really knows when a recession ends and the next growth cycle starts, it is imperative that companies maintain a good cash position through the down cycle.

Make salespeople cold call.
To help increase sales success and reduce sales costs -- salespeople must cold call new prospects. It is the cheapest and most direct way to find buying prospects. Since most sales people hate cold calling, you should help them make cold calling a priority.

Get your finances in order.
Clean up your credit as well as your financial records.

Consider acquisition.
Your competitors may be in financial trouble want to throw in the towel. During a recession, there will be a lot of good opportunities to expend cash to invest in undervalued assets or businesses that provide strong cash flow.

Create new service offerings with recession pricing.
To help maintain cash flow, re-name, re-package and re-price your offerings to give your targeted prospects multiple price options to buy from you. Make your prospects choose between your options rather than seek an alternative radio station.

Focus on what is important.
Protect your time, energy, and money so you are only spending them on those things that will take you closer to your goals. Spend time on activities that benefit the company. Ask yourself “what is the best return for the investment? Is what I am doing taking me closer to my goal? If not, why am I doing it?”

Success is dependent on your people skills.
All successful people understand that their success comes through other people. Understand who your best customers are and treat them like gods. Determine who will help you (employees, partners, business associates, clients). Then ask how you can help them.

Results equal hitting your goals.
It’s all a matter of implementing the behaviors that will drive those results. When you don’t get the results you want, try something different.

Success is taking action.
When in doubt, do something – do anything. Successful people understand that they can always correct something that is not working. They also understand they cannot correct an action that was not taken. Taking action is the only real way to achieve success.

Let the best ideas win.
Many times people have a great idea, but they have no idea how to move forward. Or, they have so many ideas that they can’t make up their mind. Your job is to cherry pick the cream of the crop, and make very sure they get executed well.

Create a strategy.
Create a marketing plan. Who are your best customers, what problems can you solve, and why they should buy from you. What is your strategy for new business?

Start networking for referrals.
The fastest way to get new business is to ask for it; especially from your existing customers. They know your products and services so pick up the phone, take them out to lunch and ask them if they know anyone who they would introduce you to who could use your products or services.

Use electronic newsletters.
Are you reaching your customers with e-mail marketing? Electronic newsletters are a great way to stay in touch with your clients. Your radio station needs to be top of mind when they need marketing. A monthly newsletter can do that for you. Don’t just use it to advertise your station. Give them news and articles that they can use to help build their business.

Focus on customer service.
Catering to your customers is after all the focus of your business, and having good customer service does not have to be expensive. Like your employees, you want to build the trust, loyalty, and regard of your customers.

Develop creative, low-cost ways to advertise your business.
Use the Internet to promote your business. Email, blogs and social media provide a cost-effective marketing option. Getting your name out there effectively does not have to break the bank.

Speaking before groups.
Public speaking is one of the best approaches to generating new business. Provide value and get an opportunity to have 100 people listen to you talk about how your station can help them. Service clubs are a great way to meet your potential clients. Every sales rep, and every manager should belong to one service club in your market.

Create an event.
  I know a station that twice a year holds a client breakfast. The clients hear other business people’s success stories and “secrets” from other marketers and respected business leaders. The station traded the breakfast with the hotel. In the end, the station built credibility with hundreds of the largest advertisers in the market for very little money.

Develop strategies to get your competition's customers.
If your station is going to prosper in these times, you need to continue to expand your customer/client base, and that means stealing customers from the competition. How? By offering something more or something different than the competition does. Target three clients a week. Buy them lunch, and let them talk about their business, listen to their problems, and their needs. See these meetings as opportunities to build relationships. If you can offer good solutions to client problems, you will be able to actually grow your business during a recession.

Make the most of the customers/clients you have.
Here is an opportunity to make more sales without incurring the costs of finding a new customer. Keep in mind that attracting new customers is several times more expensive than retaining existing customers. Use the 80-20 rule. If 80 % of your business comes from 20 % of your customers, analyze your 20 %. What have you done lately for them?

Understand how customers determine value in tough times.
The key is to provide more value to the customers without sacrificing margins. Look for extra value creative promotions and great service to enhance existing customer relationships. Do something nice for your top clients.

Build employee loyalty.
Employees will remember you for sticking with them through the tough times. When tough decisions need to be made, solicit employee feedback. Use slow times to invest in employee training and developing compelling marketing and sales strategies and tactics. It will help to keep morale high.

Have a clear vision of where the company needs to be when the recession is over.
Managing your business is a lot about allocation of resources and prioritizing where to prune and where to grow. Having a clear vision helps make tough choices that need to be made along the way.

Reactivate dormant accounts.
Contact past clients, one you are not actively working with now ­and get them to do business with you again. Call them and say hello, and see what’s going on. Don’t make this a hard sell call. You don’t have to ask for work directly, but when you end the conversation, you might say something like, “Well, it’s been good talking with you. Keep in touch, and if there’s anything I can ever help you with, don’t hesitate to give me a call.” This lets them know you are interested in working with them, without putting the pressure on them to give you an order right then and there. What kind of results will you get? On average, expect one assignment for every 10 calls you make.

Reactivate old leads.
A study by Thomas Publishing Company reveals that most salespeople, regardless of the industry, give up too early; 80 percent of sales to businesses are made on the fifth sales call, but only 10 percent of salespeople call beyond three times! The best way to reactivate these old sales leads is to call them. Ask whether they got your material, whether they have an immediate or future need, and what the status of that need is. The best prospects, however, would probably be those who contacted you within the past six months. One or two out of 10 will come through with an order.

Use low-cost “add-ons” to generate additional revenue.
  One way to generate some extra profitable business is to encourage clients to add on to–or expand–existing air time buys.

Postpone any planned rate increases.
  A soft economy is not the time to increase your rates. During such a period, defer any planned rate increase announcements until later, and instead keep your fees at their current levels.

Downgrade slightly your acceptable customer profile. 
You have guidelines to determine which clients are desirable and which are not. During a downturn, you may want to be more flexible in this area. Simply readjust your acceptable criteria during this lull to accommodate a wider range of clients.

Repackage your services to accommodate smaller clients and reduced budgets.
When things are slow, it pays to look for ways to generate revenue from smaller clients. This is best done by repackaging your radio stations to accommodate smaller clients and reduced budgets. When big companies are not giving you big orders at big prices, sell these alternatives to the less affluent market segment to put extra dollars in your pocket.

Commit to learning.
Those who know everything have nothing to learn. In a recession, it’s a great time to look at things from a fresh perspective. How can you do things better? Serve clients smarter?

Embrace change.
Embrace this time and you’ll weather the recession and do better than you think. Sales and marketing rule. A recession is the time when you really want to pull out the sales and marketing magic. The key here is to stick with what you know works.

Re-rationalize their ad budget.
If someone tells you they are cutting back their ad budget because of a recession, ask why they advertise in the first place. Find out what the original rationale was and find a way to rethink it. The reasons to advertise during the good times may not be the same reasons to advertise during slow times.

Preset your media as being absolutely essential.
Ask your advertisers to consider that all recessions end and this one will be no different. Remind them that over the past half-century, there have been nine recessions, lasting an average of 11 months each.

Celebrate success.
Employees love to be appreciated! Celebrate the progress of individuals, teams and the company overall.

Survey your customers.
Much can be uncovered by reaching out to your customers and asking them for feedback. Develop a short list of questions that include ratings on your station, services and staff. Ask specific questions such as, “How can we improve your experience with us?” Tools such as www.SurveyMonkey.com can help you accomplish this easily. Once you receive the survey results, evaluate them and take action to make improvements. You will undoubtedly find themes in the answers such as, “It takes too long to get a call back.” Let your customers know that you heard them and share what improvements you are making as a result of their survey responses.

Sell the web.
The Internet revolution is the biggest change to happen to radio, ever. Some broadcasters are adding over $1,000,000 in a year in new Internet revenue by not only selling ads on their radio stations website, but by owning and promoting a community website. Someone in your city will be “the” local community website that advertisers use to promote their business’s locally. Radio’s advantage is that we can promote it free. If you are not sure what you are doing seek out an online marketing expert and evaluate the opportunities.

Offer financing.
The world runs on financing. Some large furniture and electronic stores are doing a ton of business by offering “buy now, pay later” plans. When a client tells your rep that they have spent their current monthly budget, you now have an option.  You can finance in house, or do what the retail stores do, and sell the paper and get your money now.  Factoring is one way to get money for your business right now. A factor is a company that will purchase your aging accounts receivable. They’ll pay you cash for every invoice you sell them. Now, instead of having to wait 30, 60, or 90 days to get the money from a customer, you can get the money instantly.

Have Your Sales Team Try HotCopy For Free

In our last newsletter we told you about a new product we'd be launching the first part of 2010. Well, it's finally here, and you're invited to try Hotcopy for FREE.

HotCopy is a database containing thousands of pieces of pre-written, proven copy, covering a vast range of topics in over 300 categories. Just copy & paste what you like on to your station's letterhead, add your client's specific information and you're done! . If  you don't have the time or just hate writing copy, then meet your new best friend, HotCopy.
 
HotCopy is a great thought starter. It's a fast and easy way to create professional copy. HotCopy was designed to give you an edge over your competition, and help to keep your clients happy. It's like having 5 copywriters in your sales department.

Is it really FREE? What are the strings attached? Yes. It is really very, very free. There's no prepayment, no minimum use, no subscription, no monthly fee, no credit card required, no commitments, no long term contracts, no nothing. You just sign in and start creating. Your trial is totally risk-free.

Why is it FREE? ComStar is researching radio sales reps and sales managers to help develop the HotCopy system to better serve your clients. The beta testing of HotCopy is scheduled to end April 15, 2010. During this period the service will be totally free to stations and sales reps.

The only condition is that the free use of HotCopy  by radio stations or sales reps be within the US and Canada. This offer is guaranteed to last until the end of March. We're not quite sure yet what we will do after that. We could extend the free period, we just haven't decided yet. You'll hear more about this towards the middle of April 15, 2010.

Try for yourself and share it with your team. In minutes you'll be generating impressive copy and spec spots for your clients.

It's quick and easy to register. It only takes a few seconds to register.
The free trial version of HotCopy contains almost all the functionality of the paid version, just with a smaller database of proven copy.

So Let's Get Started: Just Click "Go"
And Start Your FREE Trial Today!

How To Market To Women

 WHY She Buys!

How would you like to have more successful ratings, more effective commercials, and happier clients?

I'm surprised that more program directors, sales managers, copywriters and sales reps don't quite understand how important women are in the financial success of their stations.

womanPart of the problem, is that radio is male oriented, and frankly, the male species often does not understand or give much thought to the fact that women control much of the money in today's retail economy, and what you should be doing to attract them.

There is a wonderful book called "Why She Buys" by Bridget Brennan who is the CEO of Female Factor. It's worth buying a copy if you are ever to start marketing to this important segment of the population.

Her book is called “Essential Reading” by The Wall Street Journal. It was named "Top 10 Marketing Book of 2009" by MediaTrust.
Brennan has created programs for major clients such as Whirlpool, Johnson & Johnson, Pizza Hut, Colgate-Palmolive, United Airlines and AT&T, among others.

But first let's take a look at some stats:
  • 80% of all (male, female, and child) apparel purchases are made by women.  
  • 85% of all household spending is controlled by women
  • 52% of all new vehicle purchases are made by women. 
  • 85% of all new vehicle purchases are influenced by a woman.
  • 94% of all home furnishings are controlled by women. 
  • 45% of all electronics purchases are made by women, and 61% are influenced by a woman. 
  • 80% of health care decisions are made by women. 
  • 92% of packaged goods spending is controlled by women.
  • 50% of new computers are bought by women
  • 70% of travel decision are made by women. 
  • 92% of all vacation travel are influenced by women.
  • 90% of women participate in decisions that affect household investment and retirement accounts. 
  • 40% of all game players are women
  • 20% of home purchases are made by single women. 
  • 91% of all real estate purchases are influenced by a woman. 
  • 55% of wine purchases are made by women. 
So how does one go about capturing this valuable buyer. Here's her checklist of how you can appeal to the base:
1. Storytelling
2. Personal testimonials
3. Before-and-after comparisons
4. Tie-ins with worthy causes
5. Compliments
6. Self-deprecation
7. Milestone references
8. Life stage references (not age references)
9. Woman as hero instead of product as hero
10. Value messaging that makes women feel smart, not cheap
11. Reassurance for luxury products - remove guilt factor
12. What something does, not how it works.

If you are a program director, sales manager, copy writer or sales rep, I would advise you pickup a copy of "Why She Buys" by Bridget Brennan today.

5 Tips To A Great Meeting

-Always have a written agenda and distribute it at least a day before the meetings. This gives all attendees the opportunity to prepare ahead.

-Mark on the agenda who is mission critical, and who is optional, for the meeting, and reschedule if the mission critical attendees can't attend a meeting No meeting should happen without key decision makers present, or all you do is talk and don't really DO anything.

-Start on time/end on time So many people show up late, or not at all. If you want to respect the folks that are on time for the meeting, start the meeting on time and end the meeting on time so folks can make it to their next meeting on time.

-Stick to the agenda If it's on the agenda, discuss it, and discuss it until a decision is made. If it's not on the agenda, table it for the next meeting.

-Distribute meeting minutes (with action items) promptly Before folks forget what was discussed, distribute the meeting minutes for all to review within 1 day for max effectiveness.