Various sales techniques are effective at different types of advertising outlets, including the Internet, magazines and radio. The key is knowing which sale techniques work best in certain situations. For example, you may need to use aggressive closing techniques when offering advertising specials over the phone. You may be dealing with a high volume of advertisers and need to close quickly. Knowing various sales techniques can increase your chances of making the sale.
Research the Customer
Research your customer before approaching him about a specific ad. You stand a much better chance of making a sale if you understand the business owner's situation. For example, you may read that a new automobile dealership is trying to build brand awareness in the area. Part of your discussion could include asking the dealership owner how far customers typically drive to make a purchase. As a Yellow Pages publisher, you could suggest that the dealership owner advertise in several of your neighborhood directories for greater reach. Assume the role of consultant with the owner instead of trying to make a quick sale.
Qualify Your Leads
Qualifying leads is an important step in increasing sales effectiveness, Entrepreneur Magazine states. Always qualify your leads when making cold calls. Whether you primarily make inside or outside sales calls, spend some time on the phone with each prospect. Make sure each prospect's address and business name is correct. Separate the true advertising buyers from curiosity seekers. Find out if the advertiser can afford to place an ad in your magazine. Say something like, "If I can get you a quarter-page ad on the first page this month, could you afford the $1,000 special for that ad?" The reason you want to qualify leads is so you don't waste your time with someone who doesn't intend to advertise.
Use Flexible Pricing
Use a flexible pricing structure when selling advertising, especially if you own the business. Have a high, mid-range and low price in mind when approaching each advertiser. Start with the higher price when attempting your first close. That way you can determine whether the customer's major objection is price. At that point, you can attempt to close your prospect at a slightly lower price. Another option is to offer a free classified with a display ad purchase at the regular rate. The free classified listing also represents a discount. Never allow the customer to decline an ad for price alone. Nevertheless, if you offer the discount, make it appear that discounts are a rarity. Tell the business owner that you'll allow him to test the effectiveness of your advertising at the one-time reduced rate.
Tags: business owner, dealership owner, each prospect, free classified, making sale