Art of selling deals 4.26.12

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  • WelcomeTitleNameThank you
  • Comment & questions on TwitterQuestions RecordingSurvey at the end – your feedback is welcomed
  • thrilled and honoredverteran of the deals and advertising space30 years working in advertising, marketing, media, and technologyBroadcast and print
  • successful deals programs are those with the right sales focuschart shows the results of having a dedicated repjeff is going to share how he's bringing this same level of focus with his current sales force
  • Jeff
  • Jeff
  • Jeff
  • Jeff
  • ----- Meeting Notes (4/26/12 09:00) -----Right CategoryRight Merchant
  • Top categories across 400 sites: restaurants, recreation and beautyalso some of the most competitive categoriesKeep a close eye on market place pricing and show strong value
  • Key to getting top deals is to work with the best advertisersCapacity: adequately staff for potentially large deal; do they have enough product to sell at a level that gets us the revenue we're seekingFinancially stable: not using deals to keep business open
  • Jeff
  • Jeff
  • Jeff
  • ----- Meeting Notes (4/26/12 09:00) -----Competitive spaceLocal media has some real advantagesGoing to highlight 6 of them now
  • Be fast! Jeff is going to talk more in depth about some of these advantages
  • Jeff
  • Jeff
  • JeffObjections – aren’t motivated; need to address motivation/interested earlier in the sales process
  • ----- Meeting Notes (4/26/12 09:00) -----What makes a great dealWhat it takes to get the deal you want
  • Be fast!All good deals require you to balance the needs and interest of each of these groupsHand it to Jeff to talk about his reps are negotiating to get the deals they want from merchants
  • Jeff
  • Jeff
  • Matt – think about these for every deal that you runBroad appealDeal is unique – or better than similar ones; not available any where elsePriced appropriately – average ticket for business; market valueRestrictions – multiple offers per purchase, if capped – how much? Avoid maximum sales limits, product limitsbonus offers – pro shop example
  • Deals committees are used by the most successful sites – some form of discussion about dealsMembers – sales manager, product manager, key repsCriteria – What we look for in every dealMistakes: casino deal (sycuan) restricted to NEW players only; made us remember to avoid this restriction in the futureCity tour; wasn’t clear; only deal that didn’t sell one! We thought it would do well; too complicated, too limited, and too many restrictionsDel Mar Race Track: concert ticket package wasn’t available before, so people were confused how it worked; had to buy all season; bad ticket delivery execution also got duped and Groupon ran a better deal the same dayLocation: we all wanted to run downtown deals but started to realize it wasn’t what our audience wanted, so we can to shift the focus to areas of the county where we knew we had concentrations of purchasers
  • MattEstablished criteria should filter out bad onesDoesn't meet our revenue goalsWasn't successful on another siteNot the right deal for our audienceOffer other products that are a better matchLet Jeff talk about a unique way his teams are converting deal customers into core media customers
  • Checklist and deals committee can help
  • Been with SSM for six monthsBackground launching and running SOSD programLove having opportunity to work with 100s of sitesLearning a lot from so many innovative thinkers from sites large and small
  • Art of selling deals 4.26.12

    1. 1. The Art of Selling Deals #2ndstdeals
    2. 2. How to Interact with Us Twitter Hashtag: #2ndstdeals Note: We are recording thiswebinar and you will receive anemail with links to the recording and the slide deck. GoToWebinar™ Questions Panel #2ndstdeals
    3. 3. Who We Are □ Increase ROI, Build & Engage Audience □ □ □ □ #2ndstdeals
    4. 4. Deadline DealsA truly white label deals provider To date, Deadline Deals has executed • More than 3,000,000 gift cards sold • On more than 400 local media sites • More than 900,000 consumers have purchased deals through our partner’s sites #2ndstdeals
    5. 5. Speakers Matt Chaney Jeff ShabramDirector of Affiliate Success – VP of Digital/Director of Deadline Deals Digital Advertising Second Street Omaha World Herald – Midlands Newspapers #2ndstdeals #2ndstdeals
    6. 6. Agenda• Organization• Prospecting• Standing Out in a Crowded Field• Deal Approval & Negotiations• Wrap-up #2ndstdeals #2ndstdeals
    7. 7. Organization #2ndstdeals
    8. 8. Sales Focus is Key Months in GREEN are ones with a dedicated rep #2ndstdeals #2ndstdeals
    9. 9. Sales Team Team Structure – Who’s selling deals – How are they organized Characteristics of a Good Deals Salesperson Aggressive - a hunter Won’t accept a deal just to fill the calendar Has a deal in mind ahead of call Understands traits of a good deal #2ndstdeals #2ndstdeals
    10. 10. Keeping Deals Top-of-Mind• Top down focus• Sales training• Sales contests• Competitive tracking• Review key accounts list• Target lists – monthly reviews #2ndstdeals #2ndstdeals
    11. 11. Training Reps to Get the Right Deal Get “Cream of the Crop” Products and Merchants  Focus on the Successful Categories  Aim for Peak Season Deals such as Golf, Yard Care and Holiday Sales  Go after the Core Products and Services of that Business #2ndstdeals #2ndstdeals
    12. 12. Setting Goals for Deals • New customer acquisition • Historical data – Competitors – Your own • Seasonality – Best categories – Territory make-up • Reps getting annual deal contracts #2ndstdeals #2ndstdeals
    13. 13. Goals and Incentives for Reps  Establish NET goal per sales rep  Incorporate deals into digital goals  Focus incentives on:  New business  Bringing in target accounts  Target categories  Top deals – highest NET revenue & most sold  Make it worth their while #2ndstdeals #2ndstdeals
    14. 14. Support Structure for Deals Use existinginfrastructure– Fulfillment– Production & Design– Customer Service #2ndstdeals #2ndstdeals
    15. 15. Prospecting #2ndstdeals
    16. 16. Category Mix By Revenue Travel 4% Services Beauty 9% 19% Retail 9% EventBased on 4% Internal Product400+ Sites 0% Recreation 16% Restaurant 39% #2ndstdeals #2ndstdeals
    17. 17. Merchant Appeal Checklist  Strong Brand Awareness  Relevant Location  Multiple Locations  Capacity  Financially Stable  Positive Online Presence #2ndstdeals #2ndstdeals
    18. 18. Where to Find Top Prospects • Successful Past Deals • Competition • Review Sites (Yelp) • Our Own Content & Reviews • Reader’s Choice Polls • Active Advertisers • Chamber Members #2ndstdeals #2ndstdeals
    19. 19. Target Lists & Key Accounts• Produce a List of Target Categories for Optimum Deals – Set a Target Time Frame – Assign Sales Reps Responsible for the Category, Target Results and Deadlines – Create a Target List of Businesses on a Monthly Basis – Optimum Run Dates – Optimal Deal for Business – Ensure Follow Through for Optimum Run• Produce Selling Materials to Target Key Accounts #2ndstdeals #2ndstdeals
    20. 20. The PitchFocus on the Quality of Audience and the Additional Media Exposure– Print Readership, Online Reach, E-Mail List, Social– Your Readers Demographics, Trusted Source, Higher Income, Loyal Readership– Strong Potential for Repeat Business, Opportunity to Extend Promotion #2ndstdeals #2ndstdeals
    21. 21. Standing Out in a Crowded Field #2ndstdeals
    22. 22. Local Media and Deals Trusted Info Affluent Source Audience Ongoing Ad Key Client Options Relationships Local MultipleWe’re Local Media Media Promotions #2ndstdeals #2ndstdeals
    23. 23. Selling Against National Sites We Reach More Valuable Customers!• Reach Potential Customers with Better Demographics – More Desirable Age Bracket – Higher Income Levels – Family Consumers• Higher Spend per Visit• Increased Potential for Repeat Business #2ndstdeals #2ndstdeals
    24. 24. Deals are Advertising, too #2ndstdeals #2ndstdeals
    25. 25. Top Objections“I don’t need to advertise.” “I’m already busy – I don’t need more business.” “I want to promote this [product], not that one.” “I don’t do discounts.” #2ndstdeals #2ndstdeals
    26. 26. Deal Approval & Negotiations #2ndstdeals
    27. 27. Good Deals are a Balancing Act Merchant Needs Audience Interests Revenue Goals #2ndstdeals #2ndstdeals
    28. 28. Negotiating a Deal Leverage your strengths to get the deal you want! Promotional Power Local Presence Highly Visible Print Ad  Local Site for Local Consumers Post Deal Throughout Your  Supporting the Local Community Website  Trusted Local Source for News and Produce a Strong E-Mail list Information Inspire Strong Social Media  Local Support for the Consumer Interaction with Long Term Relationships Target the Promotion Appropriately to the Deal  Local Support for the Advertiser with Long Term Relationships #2ndstdeals #2ndstdeals
    29. 29. Getting Multiple Deals Site Benefits • Build your inventory • More efficient selling • Lock-in top customers • Plan ahead for deal stores Merchant Benefits • Gives advertiser consistent marketing • Ability to offer different types of deals • Bonus promotions for annual contracts #2ndstdeals #2ndstdeals
    30. 30. Deal Appeal Checklist Aligns With Your Audience Deal is Unique Priced Appropriately Few Restrictions Bonus Offers Expiration Date Deal Category Right season #2ndstdeals #2ndstdeals
    31. 31. The Deals Committee Focused discussion on deals  Establish approval criteria  Refine new deals  Discuss negotiation terms for large deals  Track & discuss the competition  Learn from past deals #2ndstdeals #2ndstdeals
    32. 32. Deal Rejection Quick Tips Point to established approval criteria Look to refine deal, if possible Why rejected? Recommend other advertising options #2ndstdeals #2ndstdeals
    33. 33. Advertising Conversion Model Conversion Example:• Gross Revenue is $5,000• Less Platform Fees of (Assume 10%) Nets $4,500• Net 50/50 split - $2,250 to Both Advertiser and Media Company• Or Offer Advertiser an Advertising Match on Their Share and Provide $4,500 of Advertising for Their $2,250. #2ndstdeals #2ndstdeals
    34. 34. Revshare vs. Ad Conversion Traditional Revshare Ad Conversion Model Based on Gross Revenue of $120,000 $1,500,000 $120,000 $345,000 $690,000 $690,000 $1,035,000Advertiser Share Media Company Share Platform Fees Advertiser Share Media Company Share Platform Fees #2ndstdeals #2ndstdeals
    35. 35. Post-Deal Follow-throughGoal: to build a long-term relationship by giving merchants the tools to advertise consistently Deals Ongoing Branding Offers #2ndstdeals #2ndstdeals
    36. 36. Wrap-Up #2ndstdeals
    37. 37. Key Takeaways1. Must keep sales pressure on to be successful; not flavor-of-the-month product2. The deals and merchants you run are a reflection of your business – choose wisely3. Create deal approval criteria & share it4. Leverage your top assets: promotions & audience5. Work to build long-term relationships with advertisers with multiple deals & the Ad Conversion Model #2ndstdeals #2ndstdeals
    38. 38. Questions? Matt Chaney Jeff ShabramDirector of Affiliate Success - Deadline Deals VP of Digital/Director of Digital chaney@secondstreet.com Advertising 619-333-0444 Omaha World Herald – Midlands Twitter: @mattchaney Newspapers jeff.shabram@owh.com #2ndstdeals #2ndstdeals

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