Tag: Pending Business

Industry Views

Pending Business: When it Matters Most

By TALKERS | by TALKERS

By Steve Lapa
Lapcom Communications Corp
President

imIt may seem impossible, but you need to stay in your lane.

As we live through another dark chapter in world history, staying focused on what we do in sales and marketing will be a nearly impossible challenge. We live in a 24/7, always-on world constantly updating everything from everywhere.

As we work on the sales, marketing and management side, the news/talk and information programming side are in hyper mode logging on, weighing in, competing to never miss a beat. I remember when time stood still as the events of 9/11 shocked the world and time stood still. Talk radio hosts, producers and news departments tried their best to digest the events and offer some level of understanding to a listening audience. For the first time ever, the mainland of the United States of America had been attacked.

And here we are, frozen again. This time the events unfolded halfway around the world. Once again shock, unspeakable actions, thousands of innocent deaths, massive destruction. If you have been doing this long enough, we do have some level of experience with shocking events.

Once again, our talk radio hosts, producers and news teams will be a go-to source for millions of listeners across the country. How do we stay focused, selling, marketing, prospecting as local communities react to all this that is unfolding halfway around the world?

— Our thoughts and prayers are with those in harm’s way. As difficult as it may be, try and keep the opinionated politics away from your sales process.

— Keep the conversation neutral. A challenge for sure. If you are prepared there’s always positive to bring to your sales call.

— The calendar never quits. Halloween, Thanksgiving, Christmas, New Year’s, are all around the corner and with that a last-minute marketing opportunity.

— Why are 66% of the U.S. adults over 40 overweight?  Blame the men, we always skew those numbers. Just helping with a little small talk …

As challenging as the next few days and weeks may become, your news/talk radio station will become an important resource for adults on the go who need to know. As you formulate your presentations, stay focused on the unique benefits only your radio station’s lineup can deliver in times of crisis. Your on-air talent have earned the trust of the audience the old-fashioned way…. by being there when it mattered most.

Steve Lapa is the president of Lapcom Communications Corp. based in Palm Beach Gardens, FL. Lapcom is a media sales, marketing, and development consultancy. Contact Steve Lapa via email at: Steve@Lapcomventures.com.

Industry Views

Pending Business: In Radio Sales, It Pays to Be a Great Listener

By TALKERS | by TALKERS

By Steve Lapa
Lapcom Communications Corp
President

Do you still struggle with keeping the dialogue moving in the right direction on your sales calls? Let’s face it, if you are not careful you could violate one of the golden rules of selling talk radio – be a great listener.

First calls are the most difficult, especially in this era of Zoom, Teams, etc. You try your best to develop rapport, build chemistry and move through a needs analysis as you learn about your potential advertiser. High achieving sellers have that special skill of blending questions and fun facts that build common ground while navigating the needs analysis through a range of questions designed to qualify the prospect and confirm a follow-up call.

Sounds simple enough, but why do most sellers fall short in the starting blocks. There is no mystery here to solve, this is Selling 101 that starts with preparation and ends with a commission check. Let’s walk through some start points:

If you are responsible for any of the 26.5 billion minutes viewed of “Suits” on Netflix, you know that Harvey Spector (lead character) earned millions doing homework and knowing how to ask the right questions. How about you? Are you prepared to ask the right questions and listen to the answers that will lead you to comeback with the right proposal? Sometimes keeping the dialogue moving can be challenging. Perhaps you’ve asked too many questions that went nowhere or just resulted in one-word answers. What to do? A recent article in Make It quoted Matt Abrahams, a public speaking expert at Stanford University’s Graduate School of Business, who suggests saying, “Tell me more” during a conversation is the secret sauce behind improving the communication flow.

Makes sense. Showing genuine interest in what your advertiser is saying, allowing more information to be shared, with you spending more time as the listener helps everyone develop better rapport and move closer to a win-win. I have always been a big fan of another Golden Rule of Sales: “Words matter.” Have you ever finished a call and asked yourself, “Why did I say that!?” It all goes back to preparation. If you know what to ask, how to allow your advertiser to expand on a key point, and do more listening than talking, your sales should increase, and your commission checks will show it!

Steve Lapa is the president of Lapcom Communications Corp. based in Palm Beach Gardens, FL. Lapcom is a media sales, marketing, and development consultancy. Contact Steve Lapa via email at: Steve@Lapcomventures.com.

Industry Views

Pending Business: Still Learning

By TALKERS | by TALKERS

By Steve Lapa
Lapcom Communications Corp
President

I think it was the great Michelangelo who said, “I’m still learning.” Three simple words that can make or break any of us in marketing.

I am still amazed at the success and customer loyalty at Trader Joe’s. Why is it that a homespun marketing approach develops loyalty, when I have found more competitive prices and sometimes higher quality foods elsewhere?

Yet there I was lost in the regular South Florida Sunday crowd, standing in line, basket-to-basket, ready to check out. I have never heard or seen an ad for Trader Joe’s, yet the store was packed. The scene at the 59th Street store in Manhattan was quite similar last year when I spent three months in the city, or the one in D.C. close to my daughter’s home, even the Trader Joe’s in Sandy Springs, Georgia near my other daughter’s home was slammed on a Sunday three years ago.

Too much information for a column on sales and marketing?  Believe it or not, I still can’t figure out how with no frequent buyer program, super discounts, or incentive marketing I became such a frequent shopper. I guess just like Michelangelo, I’m still learning.

Here is what I have learned from Trader Joe’s that connects the dots to our sales and marketing world.

— Keep it simple. Ever notice how the prices are clear, easy to read and seem to present a perceived value? How does your presentation packaging stand up? Does it take an IT expert to understand how to interpret your computer driven proposals?

— Everyone has something positive to say. I have never heard any of the folks at any of those locations say a negative word, even when parking was a game of musical cars. How about you? Are still blaming the boss for higher pricing or tighter credit?

— Variety is in the eye of the customer. Other stores with more square footage have greater variety. Sometimes you need it, most of the time you don’t. How many times have you thought to yourself, “There are just too many options in this pitch.”

— Got a complaint? We can fix that. Somebody please show us a local radio station training for excellent customer service. It just isn’t a long-term commitment. Maybe a perceived unnecessary expense in our business.

— Consistency. Like every successful enterprise that is public facing, consistency and dependability build trust and customer loyalty. How about us?

Sales and marketing are a dynamic process that is always adjusting to the competitive landscape and the needs of the customer. And that is why we should all follow Michelangelo’s lead and never stop learning.

Steve Lapa is the president of Lapcom Communications Corp. based in Palm Beach Gardens, FL. Lapcom is a media sales, marketing, and development consultancy. Contact Steve Lapa via email at: Steve@Lapcomventures.com.

Industry Views

Pending Business: A Little Change Can Do You Good

By TALKERS | by TALKERS

By Steve Lapa
Lapcom Communications Corp
President

imLast week, with little time left on the clock, Disney and Charter Communications made a deal so that Charter customers could continue to watch Disney programming. Phew! Just in time for 15 million Charter cable customers to have access to that 53-year-old American institution called “Monday Night Football.”

It’s amazing how the two sides came together just in time to preserve the TV viewing habits of millions of football fans and all those millions of ad dollars sold into the broadcasts. Although both Disney and Charter lobbed streaming options at viewers to help ease the temporary pain, in the end, cooler heads prevailed, and a deal was struck.

Not so fast, somebody buried a headline.

Just before Labor Day, the Charter guys were claiming the current cable TV bundling model ain’t what it used to be, in effect acknowledging the nearly 5 million people a year who cut the cable. The cable bundle value proposition is changing before our blurry gameday eyes, and more options are becoming accessible every day. Does any of this “I can get this somewhere else” ring familiar?

Try this at home. Ask any Gen Z people you know how often they listen to the radio. (Gen Z are roughly between nine and 26 years old.) Now ask the Millennials you know (roughly 27 to 42 years old). The results will frighten you as you realize the greatest freebie electronic entertainment ever invented is losing the future faster than cord cutters on steroids.

If you have been in the terrestrial radio business for longer than five years, you are aware of the melting ice cube future of radio. Even our friends in the newspaper business are changing with the times, looking for writers who will report specifically on Taylor Swift and Beyonce. They tour the world generating crazy numbers in ticket and music sales. Their appearances and social media impact everything from fashion to politics. How is that for changing a future value proposition?

Sports fan or not, are you in touch with the Coach Prime phenomenon happening at the University of Colorado? The story was featured on the soon-to-be 56-year-old “60 Minutes.”

Deon Sanders is changing college football in Boulder as fans gobble up seats at over $500 a piece.

The point of this column is simple. From cable to pop culture to Coach Prime, leadership is innovating, finding new ways to re-invent and re-package a premise as old as song and sport, a premise much older than the terrestrial radio business. Maybe we can all learn from what we sell.

Steve Lapa is the president of Lapcom Communications Corp. based in Palm Beach Gardens, FL. Lapcom is a media sales, marketing, and development consultancy. Contact Steve Lapa via email at: Steve@Lapcomventures.com.

Industry Views

Pending Business: Persistence vs Passion

By TALKERS | by TALKERS

By Steve Lapa
Lapcom Communications Corp
President

imWhich is the more important “check the box” trait – persistence or passion?

Is it easier for your air talent to answer that one? Of course, we want passionate on-air talent – those who live for the opportunity to get behind the mic, break it all down for the audience or deliver the critical information that can save lives and calm the fears of an anxious audience.

In a week, for the 22nd time we will remember the events of 9/11. During that historic window of time, I had the privilege of experiencing firsthand the passion that drives great on-air talent to power through the most difficult unknown to stay close to their audience and calm the fears of an audience in shock.

But we must also consider the day-to-day. How about your on-air talent and their producers who compete every day for that exclusive interview that will surely drive audience levels, advertiser results, and maybe a bonus or promotion?

They power through the multiple calls that are not returned, the polite put-off and unkept promises. Especially stinging is when a competitor winds up with the prize.

Persistence or passion? Stop. Right there you must consider the Abraham Lincoln theory of persistence. His mother died when he was nine, he went bankrupt at 27, had a nervous breakdown before he was 30, lost eight elections, finally in 1860 was elected president of the United States and one year later faced the greatest internal conflict in the history of our country – the Civil War.

Let’s go to sales.

Anyone passionate about selling? My number one theory in recruiting sellers from South Florida to San Francisco was and still is, nobody grows up wanting to sell radio advertising. On the other hand, many of us were and still may be passionate about being ON the radio (before or alongside podcasting, YouTube, Rumble, Tik-Tok and Instagram). The passion to perform runs deep through all media, music, theatre, sports, the law, medicine, even business. The passion to sell? Now that is one complicated conversation.

For what it’s worth, here is my theory. It takes both passion and persistence to be great. What attracts any high achiever to a long-term career typically begins with a passion play. A love for the game and the need to achieve. The harder you chase the dream, the more persistence comes into play. The more you learn the ins and outs of refining persistence, the more you will hit your stride in performing.

And there you have it! Touch those three magic “Ps” every day, passion, persistence, performance and the fourth will come your way: Profit!

Steve Lapa is the president of Lapcom Communications Corp. based in Palm Beach Gardens, FL. Lapcom is a media sales, marketing, and development consultancy. Contact Steve Lapa via email at: Steve@Lapcomventures.com.

Industry Views

Pending Business: Nobody Cut Their Way to the Top

By TALKERS | by TALKERS

EDITORS NOTE:  In addition to conveying a powerful message, the article below by industry expert, consultant and TALKERS contributor Steve Lapa contains a tremendous limited-time opportunity for the readers of this publication to partake in a free offer to receive a valuable radio sales support tool.  We strongly suggest that readers involved in any way with radio sales read this article and take advantage of Steve Lapa’s offer at the end of the piece.    

By Steve Lapa
Lapcom Communications Corp
President

imRadio station personnel could be facing the worst environment – ever!

Endless bankruptcy headlines. Painful personnel cuts. Soaring retail prices. A number of radio companies are struggling, preparing for the worst and there is no cavalry in sight. No matter where we start sorting through the current tsunami of problems, every solution typically ends up in the same place: more income.

I could never understand why we don’t just cut to the chase. It would be a lot more efficient and a lot less painful if we all agreed on one premise – nobody cut their way to the top. Cost conscious, attention to expense detail and planned expansion is one thing… however destroying motivation, morale, passion and attraction for the radio business is fatal. Yet we continue to repeat the same mistakes. What do they say about doing the same thing over and over and hoping for a different outcome?

Imagine if you invented the medium today. Simple advertiser pitch: reach 83-90% of the US population for a CPM lower than your favorite Starbucks drink. Yet, radio still has the never-ending low man on the electronic media totem pole advertising image. Consider all those direct response advertisers who started on radio and “graduate” to TV. Where were the radio sellers partnered with creators focused on performance? It’s a mess, I know. What does it take to power through a mess like the one we are in now? How do we come out the other side generating income for our companies, our families, and ourselves?

Start by looking in the mirror. Re-commit to getting your skills razor sharp and get your focus laser targeted. If you are a seller, manager or owner, re-educate yourself. If you are on the programming or on-air side, passionate about your content, help your sellers and managers. Time to learn the skills necessary to help your team and yourself at the same time. The radio business is becoming so undervalued and distressed, beaten down by too much debt and not enough disciplined, strategic thinking.

Let me step up. I AM WILLING  to share my 40+ years of proven sales and management performance system with you for FREE. No risk, no exchange of dollars, because if we do not fix the radio problem NOW, we all go down together. Radio companies are preparing for the worst. Stop waiting, stop hoping. Go to https://3MinutePlanner.com and take advantage of my offer to help. Sellers, managers, owners, new-think programmers and talents, time to mount up and join the radio cavalry!

Steve Lapa is the president of Lapcom Communications Corp. based in Palm Beach Gardens, FL. Lapcom is a media sales, marketing, and development consultancy. Contact Steve Lapa via email at: Steve@Lapcomventures.com.

Industry Views

Pending Business: The Agony of Complacency

By TALKERS | by TALKERS

By Steve Lapa
Lapcom Communications Corp
President

imWhat happens when the world-wide leader is for sale? When they stopped spanning the globe 25 years ago, I thought the budget cut would help the leader. I could still hear the great Jim McKay describing the agony as Vinko Bogataj rolled down that ski slope in utter defeat. There were so many different images of the thrill of victory, but for most of the 37 seasons of “Wide World of Sports,” the agony of defeat was forever connected to that helpless Yugoslavian skier.

Maybe the real story of Disney/ABC/ESPN’s “Wide World of Sports” is lost in the silo of being first in on the marketing ladder and not recognizing opportunity.

The world-wide leader was the first to televise Wimbledon, the Indy 500, and who could forget the Pro Bowlers Tour? Not recognizing the need to expand into targeted sports coverage, pre-empt competitive efforts, and experiment with new media may be a flaw in an otherwise crown jewel. Did Mickey Mouse see the “Rugrats” coming? You mean history repeats itself when the successful get complacent and positive paranoia is the domain of the dot-com entrepreneurs?

Ok, it’s getting a little heavy here. This column is about sales and marketing, not business theory or case studies. Or is it?

The lessons here are classic and are a direct connect to your commission check.

ESPN is searching for answers, and when billions in ad sales, cable fees, streaming subscriptions and theme park attendance isn’t enough to goose the growth curve, well, Houston, we’ve got a problem. But let’s learn how to work with what surrounds us.

— What are the biggest challenges to your business base?

— Can you identify the challenges in your control, and which are not?

— How would you rank your competitors?

— As your local ad market shifts into more digital advertising, who are the winners?

— Can you name the five biggest digital-social media ad spenders in your market?

— Do you keep updated on new ad marketing opportunities presented to your clients?

Forgive the blurry lines that connected the dots in the Disney-ABC-ESPN story. The business lesson, however, is clear. Sellers can only control what they are asked to sell. But when complacency sets in at any level, take a time out and rethink your playbook.

Steve Lapa is the president of Lapcom Communications Corp. based in Palm Beach Gardens, FL. Lapcom is a media sales, marketing, and development consultancy. Contact Steve Lapa via email at: Steve@Lapcomventures.com.

Industry Views

Pending Business: The Big 20 Countdown

By TALKERS | by TALKERS

By Steve Lapa
Lapcom Communications Corp
President

imNo, this isn’t about college football or New Year’s Eve. Wait, maybe it is.

This is about getting you to start the 20 benchmarks every news/talk or sports talk manager, seller, even owner should be reviewing, analyzing, and preparing on their 2023/2024 calendars.

Call me the Detail Doctor, because as we all know the dollars are in the details.

Let’s start with August:

— College Football kicks off at the end of the month and your packages are closing out.

— The NFL season kickoff is full of new competition, so close, close, close.

— Labor Day is on the way and depending on your market dynamics unique packages could swing momentum your way.

— Early 2024 upfronts should be game planned now.

— Review your recruitment profile.

September:

— Election Day is 9 weeks away. Are you ready?

— Do you finalize goals/budgets for 2024?

— The Jewish community observes High Holidays at the end of the month.

October:

— Tweak your Q4 packages.

— Thanksgiving

— Christmas. Sunday/Monday this year.

— Too early for New Year’s Eve? Sunday/Monday this year.

— Financial Category. We all want second opinions, right?

— Legal. ditto

— Lock in your 2024 goals.

— Monitor pacing for 2024 upfront.

November:

— Check your crystal ball for final 2023/early 2024 performance.

— Daylight Saving Time ends. Change those clocks!

— Start thinking Vegas, baby for the February 11, 2024 Super Bowl.

— How did those upfronts close?

December:

— Renewals for 2024 done?

— Pacing for 2024?

— Actual selling days in the month is deceptive.

— Review those wins AND losses.

— Happy New Year.

This exercise is a simple, functional start point. Every seller, manager, and owner will add, delete, or adopt this list. My hope is you will move to do something to help your 2023 income finish big and 2024 start even bigger!

Steve Lapa is the president of Lapcom Communications Corp. based in Palm Beach Gardens, FL. Lapcom is a media sales, marketing, and development consultancy. Contact Steve Lapa via email at: Steve@Lapcomventures.com.

Industry Views

Pending Business: Pulling the Rug Out from Under

By TALKERS | by TALKERS

By Steve Lapa
Lapcom Communications Corp
President

imWhen was the last time you went shopping for a quality living room rug? Not an oriental, because that is just too easy. We’re talking high quality living room rug that will blend in and stand the test of time… and the dog. Next to fighting with a credit card company, it’s the worst shopping experience ever.

Try this at home when you have nothing better to do. Chances are you want to find the rug of your dreams, so you check out the major department stores. Up the escalator, walk through home furnishings and an employee may or may not be available. Most likely not, so you head to an adjacent department, and someone sends someone who barely knows the product and selection.

This scenario is repeated at most major department stores today, so off we go to our favorite furniture store where rugs are an accessory, like belts in the men’s store. No go here. Time to head over to the carpet, tile, and rug store.

Employees here are a bit more available and knowledgeable, but the quality and selection are just not quite right. Time for the expensive specialty store where expertise and service are #1 and so is price. $10,000 for that!

Time for the online experience to take over with countless purchase options, reviews, and confusing virtual reality options. This is getting painful. The attempted purchase is frozen in frustration. What does this have to do with what we do? Live and learn.

— Are you always available for your advertisers? When business is soft you lob in a mandatory attempt and move on. When business is through the roof, are you quick to return a call or open a new door?

— Do you simply walk through the same motions, or reflect the energy and enthusiasm of an exciting program lineup? Think of the rug seller, flipping through those rugs. Boring!

— Do you earn the price or just blame the boss? Since day one, some sellers find it easier to blame the boss instead of earning the value proposition.

— Are your advertisers frozen in frustration? Feel free to use the phrase that pays. Defrost that frozen decision maker before your competitor does.

A great program director once told me, the best on-air talents observe life with a pad and pen. Their notes come to life when the mic goes on. The same is true for great sellers and managers. Every purchase experience can improve your next call.

Steve Lapa is the president of Lapcom Communications Corp. based in Palm Beach Gardens, FL. Lapcom is a media sales, marketing, and development consultancy. Contact Steve Lapa via email at: Steve@Lapcomventures.com.

Industry Views

Pending Business: Shorter and Faster is Better

By TALKERS | by TALKERS

By Steve Lapa
Lapcom Communications Corp
President

Looks like Major League Baseball is about to show the radio business how to score the winning run. Major League Baseball decided it was time to reverse the aging fan base, declining gameday gates, and shorten three-plus-hours of in-game boredom.

Despite the downhome storytellers doing play-by-play on radio and innovations of TV coverage, the game was getting tedious, and it was time for Major League Baseball to change or slowly but surely face the fate of the dinosaur.

Sound familiar? Yes, there are some baseball innovations that entertained people like the infamous mascots of yesteryear, but MLB is about the hallowed Hall of Fame heritage of pinstripes, red socks, and Dodger blue. Change means risk and in baseball swinging for the fences is a 1 in 18 shot.

Getting a little too close for comfort? Fans and sponsors needed a new spark to ignite baseball fever, so MLB responded with a pitch clock to speed up the game and bigger bases to bring back one of the most exciting plays in sports. Guess what? Games are being played faster, gameday attendance is up 8%, TV viewership is up 14% and according to the Insider, social media views are up 67% as under-35 demographics are up 14%. Let us start connecting the dots to our business.

— News/talk radio relies on a 55+ audience. Nothing wrong with the “money demo.” But talk radio needs to look ahead to what happens AFTER the election cycle.

— Most daily talk shows are three hours long. So were most MLB games… until this year. Shorter became better as attendance and viewership shot up. Wake up radio programmers, hosts, managers! Do we have the courage and budget to program and sell shorter, faster moving programs? Radio is so stuck in an outdated model; the low growth is about to make another appearance in bankruptcy court.

— Fans got excited and social media exploded. Last time I checked, Savannah, Georgia was Nielsen radio market #145. No news/talk radio station in the top 100 U.S. radio markets has as many Facebook followers as the Savannah Bananas baseball team.

— Fans and sponsors needed a new spark. What has your radio station offered lately that is new, exciting and lights the fuse for sponsors and listeners?

Recently, a 21-year-old baseball star stole two bases then decided to steal home and the fans went crazy. Through the years we have seen the play. But every time it happens the fans in the stands are on their feet, cheering, high fiving, and re-living every detail of the excitement. Baseball is back, bigger and better than ever. All of us can learn from today’s changes in America’s Pastime.

Steve Lapa is the president of Lapcom Communications Corp. based in Palm Beach Gardens, FL. Lapcom is a media sales, marketing, and development consultancy. Contact Steve Lapa via email at: Steve@Lapcomventures.com.

Industry Views

Pending Business: Good News Bad News

By TALKERS | by TALKERS

By Steve Lapa
Lapcom Communications Corp
President

Survey says, the good news is, 49% of local direct advertisers use AM/FM radio.

The bad news is, the same survey says, 65% of that same group uses social media advertising. Advantage +16% for the digital team. The good news is, you are comfortable selling/managing digital and social media vehicles because like it or not your local advertiser is leaning in on the digital/social media advertising opportunity.

Survey says, more bad news, 54% of the local direct advertiser group is buying event-sponsorships. The good news is, you are comfortable selling/managing event-sponsorships because like it or not your local advertiser is leaning in on the event-sponsorship advertising opportunity.

Now for the closer, survey says, over 50% of these local advertisers are now budgeting only 2% of gross revenues on advertising. Thank you Borrell for the researched eye-opener and thank you pandemic for shrinking the local advertiser’s marketing dollar.

Show of hands, please, anyone reading this totally surprised? The online digital/social media advertising world has been on a double-digit growth tear as long as anyone can remember. The growth continues as AM/FM sellers stand by and watch the parade go by, sorry guys. The facts are… there are roughly 310 million smartphones in the U.S. According to the last Edison survey, 68% of U.S. homes own 1.5 radios. In round numbers 338 million radios at home. Wait, what? Are there almost as many smartphones as AM/FM radios at home? Anyone own more than one smartphone? I thought there was a radio in almost every room in your home. Not anymore, you say? Quite different from the average five radios per household when many reading this column earned their first double digit commission check as a member of that fun loving sales team. The times are a changin’ and I hope you are changing with the times. Let us start here:

Update your value proposition for “Why Radio?” Make it current and relevant to today’s media ecosystem.

Sharpen your new selling skills. Get ahead of the curve and leave your competitors in the dust.

Ask yourself, “What happened?” The numbers of smartphone users are growing. Maybe not as fast as in the past but growing. The number of AM/FM radios in the home is shrinking. Look to your leadership for some answers.

When the trend is NOT your friend, it’s time to think like the great leaders who built our country and media empires, “Lead, follow, or get out of the way.”

Steve Lapa is the president of Lapcom Communications Corp. based in Palm Beach Gardens, FL. Lapcom is a media sales, marketing, and development consultancy. Contact Steve Lapa via email at: Steve@Lapcomventures.com.

Industry Views

Pending Business: You’re Halfway Home

By TALKERS | by TALKERS

By Steve Lapa
Lapcom Communications Corp
President

imCongratulations! You’ve made to the halfway point this year.

Stand by to prepare for the second half of the year like you never have before. This upcoming second half could be so confusing even WAZE may not get you home.

The economy is sending so many mixed signals it is almost impossible to distinguish flashing warning signs from healthy growth curves. From home sales to new car sales, prices are holding as mortgage rates are at a 15-year high and new car prices redefine sticker shock.

Hiring in many categories was robust over the last few months, signaling a better economy ahead. Here comes the tricky part. For most in the news/talk sales world, the next quarter isn’t exactly on fire and as usual precious few sellers and managers are working on Q4 as they wrestle with the headwinds they now face.

Sorry to report there is no fast fix or instant solution. But let’s at least try to review some basic game planning:

— Are you still spraying and praying, or have you zeroed in on growth targets? Every survey says, “revenge travel” and dining out are big factors in local economies this year. What’s on your target list?

— Open your eyes. What’s hot and what’s not? Here in Florida, there are two Peloton stores in two major malls as well as a full display in our local Dick’s Sporting goods. All three venues are forever uncrowded – as in empty. Yet have you checked out the price of bicycles, golf clubs, or leisure wear? The consumer is spending, but not where you may think.

— Back to the basics. Medical, dental and general wellness should always be on your radar as most of us are ready to invest in health and happiness. Does the category profile show on your target list?

— Unpredictable economies require smarter financial and legal plans. Are your listeners ready for a financial check-up? Laws change and staying current with tax and estate laws is always a challenge. The news/talk audience always over-indexes on financial qualitative.

— How is your competitive periscope? Are you aware of any new media competition that may be carving into budgets? Have you come to terms with the growth in local digital marketing or is your head still in the sand?

The second half of this year is up to you. Make it or break it, it’s your call.

Steve Lapa is the president of Lapcom Communications Corp. based in Palm Beach Gardens, FL. Lapcom is a media sales, marketing, and development consultancy. Contact Steve Lapa via email at: Steve@Lapcomventures.com.

Industry Views

Pending Business: What Will You Focus on Today?

By TALKERS | by TALKERS

By Steve Lapa
Lapcom Communications Corp
President

imSimple question, tricky answer. Unless you are organized.

If you are a professional athlete, you are paid to put points on the board or stop the opponent from scoring. Did you ever watch a competitive body builder work in the gym? Some have a journal and a tripod to mount their mobile phones recording technique as they work through their routine, carefully blending form and precision. The professional entertainer? Paid to sell tickets. Professional politicians? Easy, get the most votes.

Professional ad seller? You get paid to close business.

Is the better question, “What business will you close today?” Of course, it is. Wait, most sellers never start every day with the stomach-churning question, “What business will I close today?” Maybe that question is a little too focused. After all it drills down the process to the very measurable result of being organized, skilled, and focused. Just like that high achieving athlete or getting a ticket to that sold-out performance, someone was ready to answer that elegantly simple question, “What will you focus on today?”

Let’s start the process of learning how to better sharpen our focus skills. Suppose we start with an easy how-to, as in how-to prioritize your call activity. Your sales calls will fall into five major categories:

— New Business. The lifeblood, the very oxygen of the radio business. Remember this: radio advertising, when measured honestly (political ads, COVID economics adjusted) is a single digit growth business. Unless you are making developmental calls, attrition, competition, and the wobbles in the economy will overwhelm you. Make the developmental calls a priority.

— Renewals. The most efficient sale you will make is the business you currently have. Work on renewals when timely.

— Service. My experience is this is the number #1 weakness of most radio ad sellers. Learn how to follow-up, check-in and listen without looking for a transaction. It’s about making sure your rapport is healthy and ready.

— Collections. Do you need an explanation? Just be sure of your numbers and documentation before you make the call or send the email.

— Internal. Collaboration with management, programming, production, or biz ops starts here.

Simple enough. Five columns to list, prioritize and budget your daily call activity. Owners and managers who are reading this, help your sellers when they get distracted. What will you focus on today?

Steve Lapa is the president of Lapcom Communications Corp. based in Palm Beach Gardens, FL. Lapcom is a media sales, marketing, and development consultancy. Contact Steve Lapa via email at: Steve@Lapcomventures.com.

Industry Views

Pending Business: Recruitment 3.0

By TALKERS | by TALKERS

By Steve Lapa
Lapcom Communications Corp
President

imIt’s that time of year. College graduates are pushing out resumes. Are you open for entry level sellers? Any turnover on your sales team this year?

In April, we reviewed new data impacting today’s college graduate entry-level sellers. 97% are open to jobs unrelated to their new degrees. 56% of Americans, as in their parents, do not believe a college degree is worth it anymore.

There’s more. According to a recent Wall Street Journal article, a survey by college healthcare provider Timelycare, shows 53% of (2023) graduates want a full work-from-the-office environment, while only 21% are good with total remote. Are we saying entry-level sellers WANT to work from the office? These young people want the commute, politics, and distractions of the office workplace environment. Are you kidding me? The good old days?

The survey results do make some sense when you stop to realize most of the new grads spent a good part of their COVID-impacted college lives logging into classes, missing several semesters of lecture hall instruction and dorm life.

Now comes the closer: these isolation years caused these new grads a lack of “soft skills” or what we used to call social skills. Recruiters, colleges and universities are now coaching these new grads in everything from “How to Start a Conversation,” to proper in-office dress, to eating at the same pace as your business lunchmate.

Not kidding here, all you 50- and 60-something sellers and managers. This round of recruiting entry-level sellers is totally about “How To…” and you may want to consider video and an eBook once hired.

Let’s face it, with AI coming fast, the future is here and like everything else in sales, there is no clear “How To…” handbook. But recruit we must as nothing happens without a seller. Loyalty is quickly fading as new, younger sellers want a different experience.

Let’s prepare a starter list for recruiting entry-level sellers in today’s world. Here are 10 suggested questions and concepts to cover the basics:

— Why do you want to join our sales team?

— What do you think is the most important quality a seller must have?

— How would you define a sale?

— When was the last time you experienced rejection? What did you do?

— Give me an example of a recent success in a competitive situation.

— If you could do anything professionally, what would it be?

— I am going to hand you my pen. Sell it to me.

— What is the difference between a Winner and a Champion?

— What do you think the most important thing an advertiser wants to hear from a seller?

— Tell me what specifically brings you to sell for _______?

I’m sure you have your own recruitment strategy/profile. Is it current? For the seller, that younger team member may be different from what you expect. The best seller I coached was an Art History major.

Steve Lapa is the president of Lapcom Communications Corp. based in Palm Beach Gardens, FL. Lapcom is a media sales, marketing, and development consultancy. Contact Steve Lapa via email at: Steve@Lapcomventures.com.

Industry Views

Pending Business: Thank You, Mr. President

By TALKERS | by TALKERS

By Steve Lapa
Lapcom Communications Corp
President

imHow about a collective “thank you” to the 45th president of the United States for keeping your talk radio programming relevant, timely, unpredictable and most of all engaging?

The interpretation, speculation and compilation of facts, opinions and reporting will be non-stop until this chapter of the news cycle meets the next chapter. This is a never-ending saga that keeps the dial locked into your talk radio frequency. This is the content that keeps the electronic water cooler crowded with listeners who can’t get enough.

Whatever comes next in this chapter of history unfolding in front of our collective ears and eyes is the oxygen that keeps the talk radio world alive and well every day. By the way, the 45th president of the United States just may have pulled your typically soft talk radio summer sales out of the basement and pushed you into an express elevator to the penthouse.

Are you still feeling the drumbeat of the naysayers predicting how talk radio will age out? Or better yet, run its course? My prediction is talk radio is about enter a phase previously unmatched in American broadcast history. Seriously. When was the last time a former president of the United States owned the headlines and collective headspace of talk radio hosts and listeners worldwide for so many years? Never.

Let’s get ready to refresh our summer vacation schedules, seasonal sales packages, rates, and most of all strategies. Start here:

— Sell the concept. Leave the opinions and banter about indictments, politics and the law to your on-air talent. Focus instead on the unique value of the engaged audience.

— Experts are important. Chances are your talk radio hosts will be smart enough to break down the issues and lean on experts to help the audience understand the ramifications. Credibility and consistency can make your coverage stand apart. Show your advertiser what makes your coverage different and better.

— Talk radio goes where TV and video can’t – the car, the beach, even the backyard. Sell the need to know on the go.

— Unfolding the unpredictable. Your listeners want the “inside scoop” on what the next chapter of this saga looks like. Your on-air talent look for every opportunity to give their listeners a peek behind the opinion curtain. The seller’s job is to bring the value of that connection to life on every sales call.

Talk radio is alive and well every day. It’s up to you to show your advertisers the value of instant access to a trusted voice.

Steve Lapa is the president of Lapcom Communications Corp. based in Palm Beach Gardens, FL. Lapcom is a media sales, marketing, and development consultancy. Contact Steve Lapa via email at: Steve@Lapcomventures.com.

Industry Views

Pending Business: Get Your Head Straight

By TALKERS | by TALKERS

By Steve Lapa
Lapcom Communications Corp
President

imAre you a multiplatform juggler? If you sell or manage for a radio station, the answer is yes.

Why? Because it’s been part of the radio ad sales DNA since radio advertising shrunk to single digit growth.

Maybe someone reading this column can research or remember the last time radio industry pre-pandemic ad sales grew at double digits. It’s a tough putt, for sure.

Radio sellers were the first to reach across the aisle and “cross-sell” event sponsorships, concert tie-ins, publications, prize catalogues, bridal fairs, recruitment fairs, half-off fairs, sports and leisure tie-ins, hurricane guides, meet and greets, and it all started with a simple concept called a “remote.”

Radio ad sales strategy has come a long way since the first five-year plan had no projected double-digit growth. Even worse was the negative growth forecast for many markets. I remember that famous local market slogan “last one out, please turn off the lights.”

Those simple, linear, fun-to-present packages that required nothing more than easy-to-follow graphics, reasonable pricing, and a testimonial letter required little training, re-skilling, and new technical understanding. The toughest questions were about electrical outlets, display details, and when do we load in?

Covid killed some of those income generators, but you can add in pre-pandemic tired, low-energy sellers and managers taking concepts for granted as the final nail in the coffin.

Wait a minute. Aren’t brides still making decisions? Is inflation driving us back to coupons and looking for daily deals? Seems like sports-related advertising always thrives, right?

Some concepts will return, others will be reimagined, and a few are gone forever. Back to the future. Digital and social media sales will shape your sales future whether you like it or not. The digital/social media growth trend is moving at a non-stop, double-digit pace, pushing every competitive sales team to learn more and sell faster.

Smart, energetic thinkers are planning the next move, reshaping the past for what will sell tomorrow. It’s been almost 25 years since the first Blackberry phone. Sometimes innovation leaves iconic concepts in the dust. Here is where all of this goes. Get your attitude ready to learn and earn.

— Your glass is never full. The next time a manager introduces a new opportunity open your thinking

— Ask questions. Remember “new” is a powerful sales world door opener. Be sure YOU know how this new opportunity works. Leave your ego outside the sales meeting.

— Local advertisers like a competitive edge. Procter & Gamble built the most successful package goods marketing in the world with “New and Improved.” Learn from the legacy winners.

Managers and sellers want to win new business. Are you prepared to learn how?

Steve Lapa is the president of Lapcom Communications Corp. based in Palm Beach Gardens, FL. Lapcom is a media sales, marketing, and development consultancy. Contact Steve Lapa via email at: Steve@Lapcomventures.com. Steve Lapa will be moderating the “Generating Revenue” panel at TALKERS 2023 on Friday, June 2 at Hofstra University.

Industry Views

Pending Business: Father’s Day

By TALKERS | by TALKERS

By Steve Lapa
Lapcom Communications Corp
President

imYou have still have six weeks to make Father’s Day your sales success. Stop taking for granted, this always undersold 100-plus-years-old celebration.

Father’s Day is a $20 billion business that rarely dominates a radio sales meeting. Did you have a full sales meeting devoted to selling into the Father’s Day gift giving cycle?

Your most valuable sales asset, your on-air personalities, can be helpful in brainstorming, collaborating, even creating unique sales opportunities. They know their audience.

The National Retail Foundation projects only an $80 difference in the average gift spends between Mother’s Day and Father’s Day. Still the typical radio ad sales team rarely takes the time necessary when it comes to brainstorming this annual opportunity. Unlike Mother’s Day where “natural” categories like flowers, candy, dinner, spa days, even jewelry make the annual target list, what does your target list look like for Father’s Day? How creative is your Father’s Day planning… especially since neckties are still out?

Could it be because Father’s Day was hatched in Spokane, Washington as a complement to its senior partner, Mother’s Day?

It really doesn’t matter. These takeaways may help guide your thinking as you approach any holiday marketing. Let’s start with a Father’s Day profile that should broaden your thinking:

— Forget the old school. Consider this: 81% of gift givers are looking for “unique” or “experience” oriented gifts. A true opportunity to open your prospecting targets. Would Dad enjoy a weekend staycation?

— Like it or not online shopping is becoming the norm, yet when it comes to Father’s Day, nearly 50% are still shopping at retail locations. Another reason to freshen up that prospecting list.

— Despite inflation, 76% of Americans will celebrate Father’s Day.

— The average spend is projected at $171. Not exactly Christmas numbers, but welcome income to any retailer.

Sellers and managers often overlook obvious income opportunities that could come easily. Chances are your local talent have a connection to Father’s Day that could make a difference on a sales call. Don’t overlook the opportunities right in front of you as you approach the next sales call.

Happy Father’s Day!

Steve Lapa is the president of Lapcom Communications Corp. based in Palm Beach Gardens, FL. Lapcom is a media sales, marketing, and development consultancy. Contact Steve Lapa via email at: Steve@Lapcomventures.com. Steve Lapa will be moderating the “Generating Revenue” panel at TALKERS 2023 on Friday, June 2 at Hofstra University.

Industry Views

Pending Business: You

By TALKERS | by TALKERS

By Steve Lapa
Lapcom Communications Corp
President

I’m one of the lucky ones. In my marketing work I get to speak with radio/audio sellers and managers around the country at companies privately and publicly owned, as well as that increasingly rare breed – the radio station owner/operator. They all share one common fault. Yes, I said fault. Can you guess what it is? Probably not, because you too may share the same fault.

I’m one of the lucky ones as I was warned about this early in my career. Before we look in the mirror, let’s recall what Harry Beckwith said in his 2011 book, You, Inc. His premise was, “The first thing you sell is yourself.” Having trained hundreds of high achievers, my experience is that premise is one of the most subjective statements you will ever hear. How do you sell yourself with grace and humility? How does your ability to sell yourself stand head and shoulders above the next seller on the Zoom call or in the advertiser’s office without over-the-top braggadocio? While on calls with one high achiever, there was always a pause point where that seller took a side bar that started with, “Believe me, I’ve been working for ____ for __years…..” Sound familiar?

After a few calls on the same advertiser, the tenure pitch gets stale. The focus on “me” gets confused with building credibility through proven performance. Sorry, but You, Inc needs an update.

You see the missing link – the fault most sellers and managers share – is the lack of investment in “You.” In plain English, most sellers and managers fail to invest in themselves. We fail to recognize it takes a financial and time investment to keep our skills sharp, our minds focused on performance, and our teams coordinated with a win-win attitude.

There is a reason why high-level tennis professionals work and compete under the watchful eyes of well-compensated coaches and trainers. Pick a competitive career, from sports to entertainment, and somewhere in the mix you will find a coach, mentor, or trainer paid to help improve performance. But rarely will you find a seller or manager in the highly competitive radio/audio sales space investing in improving performance. Sorry to all you managers reading this, but who is coaching you?

Books, seminars, videos, online programs were and are still part of “stay sharp, stay current” training. Sales and managing sales departments is a moving target with change built into every day. Recruitment, strategy and digital dynamics move ahead with or without you. It is never too late to understand the investment necessary in “You” to keep sales and sales management skills improving every day.

Steve Lapa is the president of Lapcom Communications Corp. based in Palm Beach Gardens, FL. Lapcom is a media sales, marketing, and development consultancy. Contact Steve Lapa via email at: Steve@Lapcomventures.com. Steve Lapa will be moderating the “Generating Revenue” panel at TALKERS 2023 on Friday, June 2 at Hofstra University.