Tag: seller

Industry Views

Pending Business: Welcome to 2024

By TALKERS | by TALKERS

By Steve Lapa
Lapcom Communications Corp
President

imWhat do your New Year’s resolutions look like?

Chances are your resolutions included what I call the old reliable “mores.” Earn more, save more, exercise more, eat more of the healthier foods. Sound familiar? Do you break down the resolutions into daily goals? As in here is what I need to do today to meet my goals and fulfill my resolutions. How about the “less” category? Do you spend any time thinking about what you want to do less often? Let us start with some obvious candidates.

A recent survey by Frequence.com indicated 84% of respondents in marketing and advertising felt stress on the job. Maybe the other 16% had just taken their morning meds. Seriously, can you blame the stressed-out thousands who have spent a career working for companies that stand on the brink of financial peril, delist from the stock exchange, or initiate short-notice personnel cuts? Has anyone in the radio business reading this column ever experienced a fully stress-free experience for over 36 waking hours? If it is not work, maybe it is friends, family, travel issues, or anything else that you simply cannot stop thinking about.

“Less” resolution #1. Less stress on the job, unless you are in the parachute business or an air-traffic controller or emergency room doctor in New York or Chicago, you get where I am going with this.

The same survey showed 72% of respondents work for organizations expecting them to deliver more with less support. The last time I worked for a broadcast company that provided me with my own dedicated assistant, the Cowboys won the Super Bowl in the first ever televised in prime time. Please raise your hand if you are a seller or sales manager with your own dedicated assistant. Anybody? How about in the past 10 years?

“Less” resolution #2. Less is more. The slogan takes on new life in the remote work environment that is a norm for many in the media buyer-seller relationship. Everyone in the chain is being asked to do more, reach increased goals, and perform to a higher standard with less support. You are either on the income money flow line or the expense side. Pick your lane and try your best to deliver measurable results.

Technology is driving change in every corner of the workplace. New strategies and technologies designed to monetize media impressions are part of our culture. Surveys show anywhere from 52-70% of sellers and marketers are challenged with keeping up.

“Less” resolution #3. Prioritize your upskilling. Pick the one area that will allow you to hit your most important “more” goals and master it. Never stop learning, just adjust your learning curve to what works best for you.

Here’s to a more productive and prosperous New Year!

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 News

JVC Media Closes on Long Island AM and FM Translator

By TALKERS | by TALKERS

On Monday (6/26), JVC Media closed on its acquisition of WLIM, Medford, New York and its FM translatorim W227CL at 93.3, licensed to Port Jefferson, New York. Pictured above is JVC president and CEO John Caracciolo (left) with seller Commercial Assets Inc president Mike Celenza (right) at the transmitter site. JVC is airing a classic hits format on the frequencies but says that a new format is coming to the station soon. The broker on the transaction was Mark Jorgenson of Jorgenson Broadcast Brokerage, Inc.

Industry News

Steve Lapa Launches 3 MINUTE PLANNER™, a Sales Education Tool

By TALKERS | by TALKERS

Steve Lapa, well-known broadcast management & sales expert and TALKERS contributing columnist, has launched a new website, 3MINUTEPLANNER.COM™, which provides an innovative platform designed to simplify sales meeting strategies with easy-to-follow “3 Minute” explainer videos and accompanying downloadable eBooks. This video-based re-education is the first of its kind in the industry, providing managers and sales teams with the resources that support their success.

According to Lapa, The 3 Minute Planner™ is designed to help radio managers and sales teams by providing concise, practical strategies that can be applied immediately. The three-minute videos cover a wide range of topics, from sales strategies to account management and client relationship building. Each video is accompanied by an eBook that expands on the topic, providing additional tips to help sellers and managers improve performance.

Lapa tells TALKERS, “Radio sales is about constant competition and pressure. The 3 Minute Planner™ is designed to provide managers and sales teams with the strategic guidance they need to succeed. Our video-based re-education approach makes it easy for anyone to learn and implement new strategies quickly.”

The package features over 100 topics and strategies, allowing managers and top sellers to tailor the content. Lapa says, “The 3 Minute Planner™ provides a clear, concise format that is easy to follow and apply, making it an ideal tool for busy sales teams who need to make the most of their time.”  Interested radio broadcasters can visit 3MinutePlanner.com for a free sample.

Steve Lapa will be moderating the sales panel at TALKERS 2023 on Friday, June 2 at Hofstra University.

Industry Views

Pending Business: NAB – Never Assume the Basics

By TALKERS | by TALKERS

By Steve Lapa
Lapcom Communications Corp
President

Welcome to the NAB edition of Pending Business.

Wait, not that NAB. I am talking about the NAB that affects every manager and seller in the broadcast business, especially radio. This NAB is all about Never Assume the Basics.

Timing could not be better. Borrell and Associates just released a report that validates the Covid pandemic-driven changes in the local advertising marketplace. The shifts are so big, they most likely will change the ad world for a long time. The report shows the measurable local advertising marketplace is now at approximately $143 billion dollars. If you believe the numbers in the report, 67% of local ad dollars are placed in digital media advertising. Simple math says 33% of local ad dollars are now split, radio, TV, all print, outdoor and direct mail. Now that is a genuine showstopper!

These numbers are a tough pill to swallow, especially for those of us who remember the days when (print) newspapers were the king of the hill of local ad dollars. Whether you accept the numbers or not, the trend is your friend, and no manager or seller wants to be left behind. The major drivers behind this seismic shift in local ad dollars are the giants of social/digital media. Members of what TV personality Jim Cramer calls the FANG set – Facebook, Amazon, Google – you know what I am talking about. The shift in local dollars happened and continues happening right before our collective ears and eyes. Some of us are changing with the flow, others are still satisfied just reading a competitive radio monitor report during the Monday morning sales meeting.

Let us pause right here and get back to the danger of assuming the basics. You know what assuming can do, so let us regroup. Zoom back and take a treetop view of how you reconcile the basics of:

— local ad budgets

— sales prospecting

— packaging

What’s changed in your approach to prospecting? What NEW information and new businesses are you targeting? How has your competitive information flow adjusted to reflect local market changes? What is the newest package concept in your sales arsenal? Are you up to speed on the newer social and digital media initiatives in your local market?

Make no mistake, I am not advocating breaking the foundation. Yet we cannot ignore market dynamics. Some companies are driving change and growing in the digital/social media ad space, while others are slower. The great Teddy Roosevelt said “Lead, Follow, or Get Out of the Way!” Leadership is never easy. When it comes to sales, it should be a constant goal. Do not let anyone push you 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. Steve Lappa will be moderating the “Generating Revenue” panel at TALKERS 2023 on Friday, June 2 at Hofstra University.

Industry News

Pending Business: Attracting New Recruits

By TALKERS | by TALKERS

By Steve Lapa
Lapcom Communications Corp
President

Ask any sales manager what the #1 challenge they face is and nine times out of 10 the surprise answer is not “more business.” Generating more business takes a well-oiled machine that starts and ends with a focused, well-trained sales team. And therein lies the challenge question I hear every week. “Where can I find more good salespeople?”

With all the sophisticated technology available today – from Zoom and Teams to data mining and social media – it is hard to comprehend why any viable radio station would have difficulty recruiting “good salespeople.” I rarely faced that challenge in any of the markets where I worked. No matter what the ownership structure or market size – from Buffalo to San Francisco – recruiting and retaining “good salespeople” was only an occasional problem.

If you are a manager at any level, in any market, responsible for recruiting and training “good salespeople,” you may never view the task the same way again if you follow these six simple steps:

1)         Recruitment should always be on your “To Do” list. Always, period, the end. Like the sun rises every morning, recruitment is a regular part of your day.

2)         Times are changing, build your bench. If your sales team is a mix of generations, any given team member may decide to move on for reasons you may not understand. Be prepared. Turnover happens, don’t be ambushed.

3)         Do you have a written profile of the ideal candidate for sales? Sound crazy? Try it right now. What are the three must-have qualities of every successful seller on your team? Those qualities may now be changing with newer digital, social media, and programming changes.

4)         Is your compensation structure competitive? This is one of my favorites. Depending on ownership you may or may not have the degree of flexibility you want. However, you may find a friendlier structure through performance incentives.

5)         Would you trust members of your current team to interview a candidate? I used the technique often over 15 years. Sometimes the culture in your sales department is unique or you may feature team performance incentives. The power of teams is a proven winner in most businesses.

6)         Are you plugged in to the new-think of today’s entry-level seller? Here are some current facts that may change your view of recruiting younger sellers:

   a) A study at the University of Chicago showed 56% of Americans think a college degree is not worth the money. Wow, is that different from most job postings!

b) As job markets become unpredictable, 97% of graduating seniors are open to alternative careers, as in not their major, this according to a study by iCIMS.

Finding “good salespeople” should never be viewed as a management headache. Once you make the commitment, the next great seller could be your next interview.

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: Planning & Organization

By TALKERS | by TALKERS

By Steve Lapa
Lapcom Communications Corp
President

On a scale of one to 10, where would you rank yourself on planning and organization?

If you are the #1 seller on your team, how do you rank your ability to plan and organize? If you are working your way to the top, how prepared and organized does the #1 seller on your team look?

Planning and organization don’t mean every hour is filled. Top-tier sellers know interruptions are a given. Demands change on a moment’s notice and change is a constant. The day-to-day selling environment is rarely a walk in the park.

The underlying question is how do you prepare to plan? How do you evaluate the opportunity flow to determine what to emphasize and what to abandon? Which projects do you add, and which ones do you delete?

These are tough calls – these drop/adds – as you painstakingly review time, effort, and emotional attachment in each of your sales projects. But here is the good news. All of us, every seller and every manager, can use fresh eyes on planning and organizational skills. To that end, here is my simple gift to you. A timeline of 13 upcoming sales opportunity events that should be income generators. Let us liberally countdown the sales lead time from today, Monday, March 27 to many of the income producing events that drive your sales calendar. Your specific station may not directly tie-in, however, many of your local sponsors are planning right now. So, let us get busy:

Mother’s Day              6 weeks
Memorial Day             7 weeks
Father’s Day               12 weeks
Independence Day      14 weeks
College Football         22 weeks (Season kickoff)
Labor Day                   23 weeks
NFL                            24 weeks (Season kickoff)
Halloween                   31 weeks
Election Day               32 weeks
Veterans Day              32 weeks
Thanksgiving              34 weeks
Christmas                    38 weeks
New Year’s Eve          39 weeks

There sits the 2023 friend or foe selling calendar before your eyes. Do you have the historics, wins/losses and opportunities organized? How about your competitors? What about newer digital and social media integrations that may need more lead time? Is there any turnover in decision makers at key accounts? Ready to wake up and smell the coffee?

Every high achiever knows, everyone wants to win. But are you properly prepared and positioned to win? Another three minutes of planning a day goes a long 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. Steve Lappa will be moderating the “Generating Revenue” panel at TALKERS 2023 on Friday, June 2 at Hofstra University. 

Industry Views

Pending Business: Package for Profit

By TALKERS | by TALKERS

By Steve Lapa
Lapcom Communications Corp
President

Is it just me, or has packaging become a lost art?

What was once a go-to revenue builder, has become a function of muscle memory and is presented with the enthusiasm of watching paint dry. Am I getting at least a “maybe?” If so, and you feel like the packaging treadmill is going to wearing you down, let’s regroup. For the manager and ultimately the seller, every package must answer four basic questions:

  • That is the (revenue) goal?
  • What is the timeline?
  • What is the unique factor?
  • If it fails to sell, do we drop it or revise?

Now let’s review the 10 basic packages:

  • New Business. You should have a simple new business package available each quarter that can either be sold as is or serve as a start point.
  • Event Tie-In. Like the title says, this package will help your advertiser benefit from an event your station is tied into or sponsoring.
  • New On-Air Talent. This is where you show the value-based opportunity to work with a new talent in your lineup.
  • Special Programming. Every radio format will run a special program of some kind during the year. From election coverage and exclusive interviews to countdowns, just package and sell.
  • Slow Season. Is there a special package offered on a limited basis to help power through when business hits a red light?
  • Sports. Needs no definition, just a little updated creative thinking.
  • Calendar Holidays. This is the gift that never stops giving. Mother’s Day, Christmas, Valentine’s Day, Thanksgiving, come every year. What’s new in your package?
  • Base Programming. News, Traffic, Weather, if your radio station offers the basic service elements, talk to your programming people for new packaging ideas.
  • Emergency Programming. With direct coordination of programming, emergency programming offering special weather, disaster or other community-oriented programming can always open a new door. Remember this type of programming is always a spotlight for radio’s immediacy.
  • Bundling your digital and social media assets can help move the needle with local advertisers. I’m not advocating a giveaway, just suggesting competitive thinking in the fast moving, high growth digital advertising universe.

Back to where we started. This is the simple takeaway: Packaging is the art and science of selling with a value component that easily answers the question, “Why buy now?”

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

Sales

Pending Business: One Thing Every Advertiser Should Know

By Editor | by Editor

By Steve Lapa
Lapcom Communications Corp
President

 

PALM BEACH GARDENS, Fla. — Here is a simple question that every talk radio seller who wants to be successful must answer: “What is the one ‘thing’ every advertiser should know about my on-air talent?” In other words, what is the unique selling point that can be connected to your on-air talent and only the talent you represent.

And try your best to move past audience ratings because they come and go. “We’re number #1!” is an important validation, but when the time comes to move into the price=value equation, beauty is in the eye of the beholder.

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Sales

Pending Business: Halftime

By Editor | by Editor

By Steve Lapa
Lapcom Communications Corp
President

 

PALM BEACH GARDENS, Fla. — Halftime is over.

July is here and Q3-Q4 is looking a little foggy. The crystal ball is clouded with recession, inflation and new competition.

The good news is by now you’ve met with your manager and second half adjustments are in place. You have agreed on the course correction expectations and the game plan that will help you power through the dynamics of a constantly changing business environment.

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Sales

Pending Business: The Ego Drive Connection

By Editor | by Editor

By Steve Lapa
Lapcom Communications Corp
President

 

PALM BEACH GARDENS, Fla. — What critical personality trait connects you, the seller, to your leading talk show host? I’ll bet you never gave that a minute of your time!

This important trait in every top seller and top talker is present on every sales call and in every show. It is not a skill or learned technique, but if this one trait doesn’t shine properly, performance will suffer. Pause here as we zoom back.

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