JEM_420_Exam_1.docx

JEM 420 Exam 1: Attitude Emotional Intelligence Skills Knowledge Opportunities Preparation Persistence Customer v Partner: customer does business; partner looks out for you Transactional selling: experienced specialist, negioiating with agencies, these are gatherers concerned with GRB and Cost Per Thousand #1 sales skill according to Warner: listening disadvantage of newspaper: expensive advantage of newspaper: tangible, details, can include a map methods of prospecting: by current advertisers in other media, by season, by category, by geographic region, by advertisers in your medium, by inactive advertisers, by current advertisers, by business, civic, or social organization 3 rules of selling: 1. Do unto others as they would have others do unto them, 2. People like and trust people exactly like themselves, 3. People don?t care how much you know how much you care Stanford study: Types of closing: Trial Close Direct close ? ask for the sale Assumption close ? get to a point were you assume it?s closed and then do it Summary close ? summarize the benefits and then ask to go ahead with plan Silent close ? ask with one of the others then shut up, give them time to think, Pin down close ? directly ask them, example I don?t? like morning slots, if I move them down are we ready to go ahead T-account close- pros and cons also known as ben franklin close Choice Close Choice close - set up three choices and ask which one they prefer Minor-point close ? get client to agree to minor details then the whole thing Clincher close ? you hold back a major request or substantial added value and then wait till the last minute and let them have it to agree Last-resort close Make me an offer close ? like real estate What will it take close ? more desperate version of above What did I do wrong close ? you can?t do it you pack your briefcase and head for the door stop and ask where you lost it Bad, never use close Poor me close ? say you will lose your job Now you have it now you don?t close ? do whatever it takes to sell then come back and say sorry you can?t hold up on your promises For you only close ? if you order now I will give you the lowest price of anyone else Lowest price per thousand: outdoor advertising Money engine: sales funnel 5 ethical responsibilities of media professional:1. Responsibility to consumers2. Responsibility to your conscience3. Responsibility to customers (underwriters)4. Responsibility to the community5. Responsibility to the company customer v. consumer: customer buys product, consumer uses product media kit: demographics, personalities, awards, line ups, frequency, reach, rates, any articles on the station benefits of radio: immediate, intimate, intrusive, lower costs negatives of radio: intangible, no product demostrations benefits of direct mail: target specific area, tangible advantages of cable: cheap, high frequency, large audience negatives of outdoor: long lead time, problems (noneco), less than 7 words negatives of tv: expensive, time shifting, more clutter, harder to get frequency Warner?s 4 objectives of media salesperson: to get results for customers to develop new business to retain and increase current business to increase customer loyalty Warner?s 3 Ethics components: is it legal is it fair what does your conscious say closing according to Plum: asking for the order Positioning the Battle of your mind: important marketing book, written by Al Reese & Jack Trout ICP ? Ideal Customer Profile 3 assumptions: people are complex & basically trustworthy selling is a worthy craft media is highly visible, important, and critized by a decent portion of the population Non Commerical Educational Radio is licensed to: Board of Trustees Things to prepare to sell: survey, research information 3 Key Functions of Salesperson: create competitive advantage manage relationships solve problems to get results direct selling: selling to inexperienced generalists if your client wants to go to an agency what do you do: recommend 3 so that you can?t be blamed if the relationship ends badly writing a proposal: shows respect for client and makes more tangible Plum?s advice to a proposal: deliver face to face and keep it simple and understandable Two types of products: tangible and intangible 6 steps to selling: Prospecting ? finding customers Identifying Problems ? what they want to improve Solutions ? CPS session (creative problem solving) Presenting ? present solutions Negotiating & Closing ? abc (always be closing) normally many decision makers Servicing ? maintaing relationship after the sale Developmental selling ? selling to their needs, direct accounts NTR: non traditional revenue example liner in a program, non spot (doesn?t take up inventory) Client dictate ? client wants you specifically so you pick the price Specialized agencies: buying service ? all they do is buy not create, says they need women 25-45 knoxville and you send in your prices creative only agencies full service agencies co-op advertising: manufacturers help retailers with costs of ad to mention specific product sales funnel: above the funnel (2), in the funnel (3), best view (1)