Now that we’ve looked at the OPTIONS an advertiser has, how do we use this information to sell more space?
We COMPARE and CONTRAST our offer with the other ways in which your client could advertise their business. Of course, because WE are making the comparisons, OUR OFFER is going to come out on top. By a long way …
As our Community members sell space in magazines, on the radio, on billboards, in the local press and in the Yellow Pages – all over the world – we can’t give you the EXACT words to say to highlight your space. You’ll have to join the Community for individual help.
Or, you can work out your own figures, using the Yellow Pages as a comparison to your offer. In fact, you should work out the comparison for EACH of the media listed last time. You only have to do it once, and with a separate sheet of paper for each working (see below) you’ll have another dynamite tool in your ad sales toolbox.
However, some sales managers are a bit nervous about this whole approach. ‘Don’t mention the competition,’ they say. ‘Under any circumstances’.
We disagree.
We don’t usually mention our DIRECT competition by name. If the client brings up the name of a competitor, we ALWAYS say: “I hear that they’ve got some good PEOPLE. However, our paths rarely cross, so I can’t comment on them.”
By emphasising the word people, you are not saying anything about the RESULTS which they can or cannot generate for an advertiser. But nor are you badmouthing them.
(It’s ALWAYS a mistake to trash the reputation of a rival. It demeans the judgement of everyone who has ever dealt with them. You are in effect saying: “They are so awful, that anyone who has done business with them MUST be stupid.“
And suppose the person you’re talking to has done business with them? Or that person’s mother? So now you’re calling their MOM stupid …. and you expect them to give you money?)
But talking about other WAYS to advertise allows you to show how EXCELLENT you are. It also shows a client that you are an expert, if you can say:
‘The cost of a full page in the local Yellow Pages is $XX, and — according to their own figures –you can expect the following results …’
Then say:
‘For the same amount of money, I can deliver you results which will not only bring you more business and more profits, but will also … Benefit 1 …. Benefit 2… Benefit 3.’
Then ask:
Which in your opinion delivers you more for your money?’
Suppose that the client says: ‘But I MUST be in the Yellow Pages …..’ AGREE!
And offer to help them get a better space in the Yellow Pages, for less money than they spent last year …. IF they spend the money they save — plus a little more — WITH YOU.
See, talking about OTHER advertising media allows you to DEMONSTRATE that you can help with other advertising as well as your own. This positions you as a consultant, a trusted advisor, instead of just another ad sales rep.
But you’re not a FREE, unpaid consultant. To get your help, the client needs to advertise with you. How much space must they buy before you help them? It depends. It depends on you and on your circumstances. You choose.
Back to the benchmarks.
We set them out last time in a table. You need to go through each one and draw out how you are BETTER than them for your clients.
(If you AREN’T better, then you are chasing the wrong clients. If local auctioneers get better results by advertising their weekly auctions in the local paper than by using your space, stop calling auctioneers. Find a new group of clients).
Let’s look at the Yellow Pages as an example, and compare their ‘per eyeball’ opportunity against yours.
When you’re with your client, begin by taking out a sheet of paper and drawing a line down the middle. (If you’re on the phone, simply ask them to take a sheet of paper, and follow your instructions).
At the top of the left side you write ‘Yellow Pages’ at the top of the right side, you write ‘My Offer.’
Then in the left hand column, using the table from last time, you write down all the advantages of using the Yellow Pages. (Well, three anyway). At the bottom you put the cost (rate card, not the REAL cost after discounts) and the projected number of people who will see this advert.
(The figures are different for each area. Big city Yellow Pages will be seen by more people than small town Yellow Pages. Their prices are also higher, to reflect this. You will have to get the circulation figures and prices for your own area).
Then divide the number of people who will see the advert by the cost. That gives you the Yellow Pages ‘cost per viewer’.
Next, on the right side you write down all the advantages of your offer. (At LEAST 7 more benefits than the other side). At the bottom you put the ‘investment required’ in your offer, and the number of people who will see it.
Now calculate your cost per viewer.
You should now have a piece of paper with a couple of benefits and a BIG cost per viewer on the left side (under Yellow Pages), and many, many, many benefits and a SMALL cost per viewer on the right side (under your offer).
Give it to the client and ask: “Which, in your opinion, outweighs the other?‘
Now help him to have BOTH options. Show him how for a small extra cost he can use your space AND the Yellow Pages …
In reality, it doesn’t always go as smoothly as above. The client will say something like: ‘But you’re a monthly publication so my ad will only last a month, but in the Yellow Pages it will last a year.’
Now, you need to QUESTION him some more.
• ‘Is a full year important to you? Why?’
• ‘Would you like to be in our magazine EVERY month? That gives you a full year’s coverage’
• ‘Are ‘casual’ viewers important to you?’ (nobody glances through the Yellow Pages while sitting on a bus).
• ‘How will you get XXX people (any group that’s important to him) to learn about you from the Yellow Pages?’
• ‘Would you like me to try and negotiate a better price with them for you?’
And finally:
‘You can see that I know as much, or more, about the yellow pages as their own sales people.
Why don’t I work for them? Why am I making you this offer instead? Because I TRULY BELIEVE that–as good as they are (and they are good) — the offer I am making to you is BETTER FOR YOU than advertising with them.’
We’ve used the Yellow Pages as an example. You need to be able to do the same — compare and contrast your offer– with each of the benchmarks we discussed last time.
