Newspapers continue to have an image problem. Many of the bad rumors being spread around are false, or as the old saying goes "The rumors of my death are greatly over exaggerated."
But as another old saying goes "Where there's smoke, there's fire." I think the radio in my car was fully engulfed in flames this past Tuesday listening to ESPN's Dan Le Batard.
Le Batard is a nationally syndicated talk show host and Miami Herald columnist who likes to stir the pot, to say the least. A few years ago, it was Le Batard that tried to take out full page ads in the Akron Beacon Journal and Cleveland Plain Dealer bashing LeBron James when James decided to return to Cleveland to play professional basketball. But this past Tuesday, the pointed stick he was jabbing at the newspaper industry pointed to a real issue newspapers face. Today! Now!
Le Batard told the story of a little kid who was visiting a friend at another house and saw the father reading a newspaper. The little kid asked what he was doing. He had never seen this activity before. Puzzled, he asked how it got to their house. Astonished by that answer, the little kid was in total disbelief that such a thing as a daily newspaper could be produced and then delivered in the middle of the night to the family's front porch full of the latest news and information.
Clearly the industry has lost out on the child in this story as a future reader. The concern is how many (millions) more are out there that would be just as lost, just as astonished at the basic concepts of an industry that has been around hundreds of years.
Websites continue to expand as the appetite for news continues to grow. But the print newspaper, still the main revenue generator for many media companies, and still an extremely important franchise in hundreds of cities and towns remains on an unhealthy decline.
Reading programs and NIE projects are not creating awareness or habits to the youth. While there are some good examples of these types of initiatives, most across the country are weak and do nothing more than help provide hollow circulation numbers.
I'm not professing to have the answers to this problem. I wish I did! I also wish Le Batard wasn't laughing about this on his program. The problem is, I can't even call him out on it because he's right.
Wednesday, April 13, 2016
Sunday, April 3, 2016
Creating a culture of learning and fun is key to long term sales success
As hard as I try, I just can’t avoid sports analogies when I
talk about business. Since I’m such a big baseball fan, those metaphors tend to
be based upon actions on the diamond.
Every spring I head to Florida to catch some sun, a few
beers and as many spring training baseball games I can squeeze in over a few
days off. This year I also had the opportunity to catch a practice session of
my favorite team, the Boston Red Sox.
I watched multi-million dollar players working on their
assigned drills. These highly developed, skilled professionals spent hours
working on fundamentals. Their time was spent on details of their swing, how to
run the bases and throw the baseball properly. High level, detailed strategy is
no doubt also discussed but clearly the focus on their training was on the
basics.
This is a lesson we can and put in place for our sales
teams. It is a good investment to discuss high level marketing strategy with
your sales team, but don’t forget to stress the basics. As much as you (and
surely your staff) hate to do roll-plays of a sales call, those basics are
necessary to your team’s success in the field. I would much prefer that the Red
Sox make their mistakes in Florida at spring training than when they are back
in Boston and playing games that count during the regular season.
Isn’t that also the case for your sales team? Better to make
those mistakes in the sales meeting on Monday than in front of an account that
you were hoping to gain $20,000 in new business.
Sales meetings are often overlooked parts of our lives. I’m
just as guilty as the next person, but short of field time with your reps this
might be the most important part of the work week. If you are walking into the
meeting and “winging it” then perhaps it is time to reconsider things.
Have an agenda. I personally never shared the agenda with my
team, but I created one for me to follow so that I didn’t forget things. And I
didn’t work on it in the minutes leading up to the meeting or the night before.
It was a document I kept on my desktop that I added to as the week went along.
Some things stayed on the agenda, the additions I added throughout the week
helped keep things fresh. By adding
things throughout the week, the items covered were more complete and didn’t
really add additional time to prepare for the meeting.
Have a training element. It can be a product introduction if
you’re launching something new. But I like the idea of including those role
plays to keep people sharp. Make things fun as you’re training. People learn
more and retain better if they are also entertained a little too. There are
tons of books and countless websites that can help you in this area.
Creating a culture of learning and fun is very important. I’m
currently reading a book that addresses this head on, and I highly recommend it
for you if you’re working on building your team and culture. "You Win In The Locker Room First: The 7 C's To Build A Winning Team In Business, Sports And Life” is written by former NFL coach Mike Smith
and Jon Gordon. They go in-depth on the importance of culture for successful
teams.
They suggest that every successful team is built on these
seven basic principles:
--Have fun,
work hard, and enjoy the journey.
--Show respect
to all associated with your business
--Put the team
first
--Do your job
but be prepared for it to change
--Be the same
person every day. Do not get too high in victory or too low in defeat.
--Understand
that all organizational decisions aim to make the team better
--Have a
positive attitude
Developing your team and your culture is one of the keys for
long term success. Getting the right people doing the right thing and the right
time, and then making them feel good about who they are doing it for will help
create a stable, winning sales team for your organization.
Wednesday, March 16, 2016
Media companies next move might be as a service provider / consultant
I must confess, the headline grabbed my attention. "We're all in the advertising now" sort of speaks to me since I, well....I'm in the advertising business!
The article went into detail on how many consulting companies are adding marketing and advertising to their portfolio. It is the classic product extension move by companies such as IBM and Deloitte, and totally makes sense. Take an existing relationship and continue to offer more products and services. It isn't rocket science, and it is working.
Why are media companies not doing the same thing? I think any media company has the opportunity to leverage current customers and extend into new and different product lines. Newspapers might actually have a leg up on other media outlets; often deeper relationships plus a distribution network that is still an untapped resource at many newspaper locations.
I actually tweeted a story over a month ago from Ray Chelstowski from mediavillage.com titled "A Possible New Path for Newspapers" which outlined this very concept. The potential product offerings are substantial, and have enough potential to provide solid profits to have a stable business plan and could help supplement the continued tough model of modern journalism.
This new media outlet has at its fingertips all the media sales it does including its legacy product line and the full range of digital offerings. Additional opportunities could include:
--public relations
--native content for websites
--market research
--distribution
--billing
--collections
As is always the case, it will take some initial money invested to get a business model like this going. But it is a viable path for media companies struggling to find their way in this age.
The article went into detail on how many consulting companies are adding marketing and advertising to their portfolio. It is the classic product extension move by companies such as IBM and Deloitte, and totally makes sense. Take an existing relationship and continue to offer more products and services. It isn't rocket science, and it is working.
Why are media companies not doing the same thing? I think any media company has the opportunity to leverage current customers and extend into new and different product lines. Newspapers might actually have a leg up on other media outlets; often deeper relationships plus a distribution network that is still an untapped resource at many newspaper locations.
I actually tweeted a story over a month ago from Ray Chelstowski from mediavillage.com titled "A Possible New Path for Newspapers" which outlined this very concept. The potential product offerings are substantial, and have enough potential to provide solid profits to have a stable business plan and could help supplement the continued tough model of modern journalism.
This new media outlet has at its fingertips all the media sales it does including its legacy product line and the full range of digital offerings. Additional opportunities could include:
--public relations
--native content for websites
--market research
--distribution
--billing
--collections
As is always the case, it will take some initial money invested to get a business model like this going. But it is a viable path for media companies struggling to find their way in this age.
Monday, February 15, 2016
Not all audits are painful. Auditing what rates you charge for advertising can be very revealing
Tax season is upon us, with the
April 15th deadline quickly approaching. One of the tasks at my
household over the past few days has been gathering the necessary documentation
so that we can visit our tax preparer in the coming days.
Many
people I know do their own taxes. It does save them money, but we pay the fee
to obtain peace of mind. Early in our marriage, my wife and I did our own
taxes. One year, we awaited a $545 refund check (this was long before the
miracle of direct deposit!). When the brown envelop arrived from the IRS, the
check was for $45 with an explanation that we had made an adding error and this
reflected the proper amount. Devastating! That marked the last time we did our
own taxes at my household.
There
are other reasons for having someone else do them. Most notably, we have a
trained professional do them to reduce our risk and likelihood of an audit.
After all, who likes an audit?
While
audits are generally considered a negative, there are good things that can come
from an audit, and something I suggest you consider with your advertising
department. When was the last time you audited your advertising rates?
For me,
it is an annual ritual. Right there with gathering up my Goodwill receipts and
W-2s. Every year, this practice generates revenue for my operation.
The old
school approach was to draw up a new rate card every year, with anywhere from a
1 to 5% rate increase. While that might still happen in some markets, it is no
longer the common practice. Often times, the traditional newspaper rates are
steady and a newspaper is working on packages and other incentives combined
with print to get additional spending. While I would love to tell you that we
can steadily raise rates and enjoy the bountiful harvest, it is just not the
reality we live in anymore. And that is OK.
You can
still look at the rates you’re charging and look for opportunities to tweak
rates. The audit process will expose those rates, especially the very first
time you do such an audit. In an advertising department rate audit, every rate
is subject to review. Every rate—the published rate card, various service
charges and special deals.
Just
because you do the audit, does not mean you have to raise the rates. But what I
have found from past experience is that there are rates that your newspaper is
charging now that have not changed in years. Last year in my audit, I found a
rate that had been overlooked for over a decade and I adjusted. It was a
sizeable increase for 2015 revenue. It was like having a nice medium sized
advertiser open up in my market, and all I did was adjust slightly a rate.
There
are a few specific areas that I would review to see if there might be
opportunities to change pricing and how you are doing business:
·
Premium positions – For most newspapers, premium
positions have been a standard offering since the early 2000’s. But have you
changed your pricing during that time?
·
Obituary pricing – It is fairly standard to
charge for obituaries at most newspapers. While it is vital content for our
newspapers, it is also a strong revenue line. A quick examination of your obit
rates, rate structure and what levels are being used is very revealing.
·
Legal notices – I always ask and verify the
legal advertising rates at a newspaper. There are state regulated rates for
some categories, and it is very important to verify that you are charging those
designated rates. Charging more than is allowed is an obvious problem, but
charging less than the stated rates is leaving money on the table.
·
Auto / Real Estate deals – Remember that special
package you set up with the local auto dealer, if he agreed to increase his
spending over prior year spending a few years ago? If it is still in place,
make sure they are still holding up their end of the bargain.
·
Post it notes – Some newspapers can add the post
it notes to the front of their publication. This is a highly valued marketing
opportunity, which has increased in value in recent years. Has the rate
changed?
·
Any flat charge or sponsorship program – These programs
often are set in place and quickly forgotten. After all, the squeaky wheel gets
the grease. These programs are often times good programs with good advertisers,
so they never get attention. It is always a good idea to take a look and make
sure we are still priced properly.
Thankfully I’ve never been audited
by the IRS (knocking on wood as I type this!). That can be a grueling process I’m
told. In the case of a rate audit at your newspaper, it shouldn’t be a taxing
experience for your or others involved. More often than not, I believe you’ll
find additional revenue opportunities.
Monday, January 18, 2016
A better understanding of your sales team means better sales performance for your company
There is a
tradition in my house every February that dates back a few decades that
signifies that spring is coming. It’s not Groundhog’s Day, but rather the Westminster
Kennel Club championships from Madison Square Gardens in New York.
The amount
of time spent on training and grooming of these beautiful dogs is enormous, and
the payoff shows when they make the WKC finals in New York. My favorite session
is their grand finale, where the winning dog from each division is brought in
to crown the top dog of the year. Such a wide variety of dogs, from little lap
dogs to hunting and working dogs and one person has to judge the full spectrum
of dog traits to determine the very best. I would think that is a tough job!
Being that
final judge at Westminster has similarities to working with your sales staff.
Each member has their own personality, and to see the very best of each one you
have to know the type of personality they have.
I was having
dinner with a former sales rep, and she had me read an article on SuccessResources titled “The 5 Breeds of Sales Dogs, Which One Are You?” In the article Blair Singer suggests that sales people can be categorized into
five types, which have similar characteristics to dog breeds. Sales people are
either Pitbulls, Golden Retrievers, Poodles, Chihuahuas or Bassett Hounds.
A Pitbull is
aggressive, and the stereotypical sales person. This sales rep is ultra-aggressive
and shows no fear. This type of sales person will make more calls and deal with
the rejection than the other breeds.
Golden
Retriever sales types are the loyal, over the top customer service sales reps.
The success of this sales person comes from understanding the needs of
prospects and current customers. They get lots of customer referrals for being
so responsive to their customer’s needs.
Highly
intelligent and keenly aware of their personal appearance reps are Poodles.
This type looks good and wouldn’t think of getting dirty to get the sale.
Poodles do a good job of networking, and are up on the latest trends.
Sales reps
that are tech savvy are Chihuahuas. They have a keen awareness of product
knowledge and are very process oriented. But as we know, Chihuahuas are high
energy and yappy dogs that can bark and bark and bark!
The final sales
rep type is Bassett Hounds. They are the most faithful dogs, with a very humble
sales approach. They play upon your heart and sympathy, and very willing to beg
and say “please” to get the sale.
Do any of
these hit home and describe you or your sales staff? For me, I found this to be
a very easy way to better understand sales reps. My former employee who
introduced this to me was a cross between a Golden Retriever and Poodle. She provided
extraordinary customer service, was highly intelligent and always wanted to
look good throughout the entire sales process.
Better
understanding the type of sales person you have is something more than just
categorizing them by dog breed. The successful handler at the Westminster
Kennel Club championship handles a Chihuahua much differently than a Pitbull.
Different breeds have different needs, as well as different strengths,
weaknesses and ways to be motivated.
Would you
have a Bassett Hound type be in charge of your new business development
program? Maybe not. That type of sales rep might not have enough sense of urgency
to get things done as quickly as you’d like. You might find that working with
auto dealers could be best suited for the Pitbull on staff, able to handle the
wheeling and dealing that can sometimes be associated with that industry.
By doing
some quick analysis on your team, and the needs of your sales organization, you
can quickly learn a lot. Having a better understanding of your sales rep’s
personality will help you to become a better manager.
In an
article by Susan M. Heathfield titled “Top 10 Reasons Why Employees Quit TheirJob”,
the first reason was an employee’s relationship with their boss. Often times
that relationship is strained due to poor communication. Knowing the strengths
and weaknesses of your team, understanding why they do what they do because of
their underlying personality are key to better communication and better
motivation.
Better
motivations leads to a higher degree of goal achievement and revenue generated.
That makes us all happy!
Wednesday, December 9, 2015
Confessions of a Salvation Army bell ringer
Yesterday I was awarded the privilege of ringing a Salvation Army bell for two hour. It was probably two of the best hours I've spent in some time, giving me a chance to help out a great cause, meet dozens of people and had a chance to reflect on the season and humanity. It was a very busy two hours.
The holidays are special for all of us for a variety of reasons. The clang, clang, clang of a bell and a red kettle are apart of the tapestry of memories that make up the Christmas season for me. Now after the two hours of standing out in front of a Walgreen's in Elkhart, Indiana I have more vivid images to associate with the holiday season.
My favorite image was one of my first donors of my shift. The biggest obligation of being a father is teaching your child, and I had a front row seat. Across the parking lot, I watched a dad grab change from his pocket and place in the hand of his son, probably around 4 years old. Side by side, they walked towards my station, and I could see the excitement of the son as he drew closer and closer. I'm not sure who's smile was bigger; dad, mine or the little boy as the change slid off his hand and settled in the bottom of the kettle. The boy had donated pennies, but it was the teaching of giving to others that I have to believe has the potential to pay off with a lifetime of generosity taught by this dad.
Other images of the day were skewed by my marketing mind, as I found myself analyzing the customers and demographic profiles of my donors. The older and more beat up the pick up truck, the more likely the donation from the driver. Worn denim and work boots were also a good sign for a folded dollar or some change making its way into the bucket.
There were additional benefits for me by ringing the bell. That included a chance to say thank you to total strangers that dug deep into their wallets to give a dollar, when they themselves might be trying to figure out how to make their ends meet. I don't know for sure, but I'm pretty well convinced I saw that scenario played out more than once during my shift.
Lucky for me the temperatures for early December were above normal. I had prepared for frosty conditions, but was treated with near 50 degree weather. More than a few hearts were melted by a simple "hello", "have a great day" and "Merry Christmas" which I offered up to all that passed by. During my interactions with passer-bys, you get the sense sometimes that saying have a nice day to someone is the only positive words and interaction some are having in their life.
Ringing a bell and filling the kettle has deep trandition for the Salvation Army, dating back to 1891. According to the Salvation Army, the typical kettle raises $30 per hour with an active bell ringer. The money raised helps people within your community that otherwise might not have a hot meal, a warm bed or an opportunity to rise up from their situation.
For the rest of the holiday season, I think one of the saddest things I will see will be an unmanned red kettle stand in front of a store. No bell to grab your attention, no opportunity to donate and someone missing out on the chance to watch the residents of your community at their very best, donating their hard earned money and creating smiles, memories and a sense of community for all.
I'm sure every Salvation Army still needs bell ringers. For a large section of the US, you can visit http://www.ringbells.org and get signed up. For those reading in Elkhart where I was lucky enough to volunteer, visit http://elkhartin.volunteerfirst.org.
Merry Christmas!
The holidays are special for all of us for a variety of reasons. The clang, clang, clang of a bell and a red kettle are apart of the tapestry of memories that make up the Christmas season for me. Now after the two hours of standing out in front of a Walgreen's in Elkhart, Indiana I have more vivid images to associate with the holiday season.
My favorite image was one of my first donors of my shift. The biggest obligation of being a father is teaching your child, and I had a front row seat. Across the parking lot, I watched a dad grab change from his pocket and place in the hand of his son, probably around 4 years old. Side by side, they walked towards my station, and I could see the excitement of the son as he drew closer and closer. I'm not sure who's smile was bigger; dad, mine or the little boy as the change slid off his hand and settled in the bottom of the kettle. The boy had donated pennies, but it was the teaching of giving to others that I have to believe has the potential to pay off with a lifetime of generosity taught by this dad.
Other images of the day were skewed by my marketing mind, as I found myself analyzing the customers and demographic profiles of my donors. The older and more beat up the pick up truck, the more likely the donation from the driver. Worn denim and work boots were also a good sign for a folded dollar or some change making its way into the bucket.
There were additional benefits for me by ringing the bell. That included a chance to say thank you to total strangers that dug deep into their wallets to give a dollar, when they themselves might be trying to figure out how to make their ends meet. I don't know for sure, but I'm pretty well convinced I saw that scenario played out more than once during my shift.
Lucky for me the temperatures for early December were above normal. I had prepared for frosty conditions, but was treated with near 50 degree weather. More than a few hearts were melted by a simple "hello", "have a great day" and "Merry Christmas" which I offered up to all that passed by. During my interactions with passer-bys, you get the sense sometimes that saying have a nice day to someone is the only positive words and interaction some are having in their life.
Ringing a bell and filling the kettle has deep trandition for the Salvation Army, dating back to 1891. According to the Salvation Army, the typical kettle raises $30 per hour with an active bell ringer. The money raised helps people within your community that otherwise might not have a hot meal, a warm bed or an opportunity to rise up from their situation.
For the rest of the holiday season, I think one of the saddest things I will see will be an unmanned red kettle stand in front of a store. No bell to grab your attention, no opportunity to donate and someone missing out on the chance to watch the residents of your community at their very best, donating their hard earned money and creating smiles, memories and a sense of community for all.
I'm sure every Salvation Army still needs bell ringers. For a large section of the US, you can visit http://www.ringbells.org and get signed up. For those reading in Elkhart where I was lucky enough to volunteer, visit http://elkhartin.volunteerfirst.org.
Merry Christmas!
Friday, November 27, 2015
Black Friday stressing you out? Then check out this fake Black Friday ad for a laugh or two
A little fun in the midst of Black Friday craziness, thanks to Jeff Wysaski of Pleated Jeans. Holiday inserts have become as much a part of the Thanksgiving holiday as turkey and football to some people. Wysaski is just doing his part to have a little fun and provide a smile.
Thanks to his skills in Photoshop, Wysaski has created his own Target ad and posted at a Target store. While I'm sure the store manager didn't see the humor, I certainly do. Where do I go to buy a gift that they will only use once? Target has just the thing! Did Skittles branch out from candy to TV maker? According to this Target, the answer is yes!
Mashable has the full details on the fake Black Friday ads. Tired of family stress, of shopping or possibly eat turkey, then check out this Target ad.
Thanks to his skills in Photoshop, Wysaski has created his own Target ad and posted at a Target store. While I'm sure the store manager didn't see the humor, I certainly do. Where do I go to buy a gift that they will only use once? Target has just the thing! Did Skittles branch out from candy to TV maker? According to this Target, the answer is yes!
Mashable has the full details on the fake Black Friday ads. Tired of family stress, of shopping or possibly eat turkey, then check out this Target ad.
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