Conquering the Sales Callback Challenge
August 3, 2010 by admin2 · Leave a Comment
Getting Prospects to Respond to Your Sales Calls 
Overview
The major challenge most sales professionals face: how to get the call-back. We all know without this critical step, the rest of the sale will never occur. This article provides an inside track on solving this problem-some dilemma. Join us for another terrific sales training resource.
Introduction
When trying to set up an initial meeting with a prospect, you should both call and email the person. Combining these two approaches will make your message a more memorable as well as easy to respond to for both email and voicemail people. The key to this approach is to use the same wording for both messages and send them at the same time. Both the voicemail and the email should include your name, phone number, company name, reason you are calling, and your phone number (again).
“Reason for Contact” Statements 
Your “reason for contact” statement should be the shortest possible description of your lead source. For example, if you received a referral from Roger Smith, your reason statement should be something like “regarding Roger” or “regarding Roger Smith.” If you acquired the lead from a trade show, the reason statement should be “regarding the trade show;” if you met at a networking event, the reason would be “regarding last week’s conversation.”
Keeping It Simple and the Same
According to studies where sellers carefully tracked their ratios, shortening the message to a single word or a short phrase seems to work the best. For example, if you are selling your product or service to an insurance company, you would leave a message for that says “Re: Met Life.” When they call back (and they will), you can finish the thought by saying “We’ve done a lot of work with insurance companies like Met Life, and I thought we should get together to discuss.” Again, the key is to use the same wording for both messages and send them at the same time.
Getting the Call
Do not type your entire sales pitch or toss your manifesto in the emails you send to fresh prospects (avoid the “See the attached 400 page document on why we are so great”). Emails should read more like reminder notes you leave for your spouse or roommate. The business version of “please don’t forget milk today” might be something like “confirming our appointment for Tuesday.” You might even leave out their name and all niceties (such as “greetings”). Just get to the point. In this age of ubiquitous iPhones, Droids, Blackberries, smartphones, and iPads, your message recipient will appreciate this more as they walk and read.
Commonsense tells us that those who read or listen to our complete messages are much more likely to respond to us!
Action Steps
To improve your sales success, focus on
• A Reason for Contact,
• Keeping it Simple and the Same, and
• Getting the Call.
About the Author
Steven Bookbinder
Steve Bookbinder, CEO and lead trainer for Internet Advertising Institute has over a decade of experience selling online media, search engine marketing, and advertising. He has written and co-written more than 25 books, articles and audio training programs, and is most recently the author, with Jeff Goldberg, of How to Be Your Own Coach.
To read more about the topic in this article or explore the online training courses visit http://www.InternetAdvertisingInstitute.com
Internet Advertising Institute: The World is Changing, Are You?
Article Source: http://EzineArticles.com/?expert=Steve_Bookbinder
Pricing Models and Controversy For Online Display Advertising
July 30, 2010 by admin2 · Leave a Comment
Opening Scenario
Consider with me, if you will how some advertisers will pay the original ad serving business with a 2-day conversion of ad serving to purchase, but many will not pay for anything other than a click-based conversion.
What is the web publisher or network’s Account Executive (AE) to do?
Well, the wise and prepared AE will have typically discussed in advance with the advertiser (or their agency) what gets counted. Determining whose count will be used in determining fees is one of the most common and important conversations between publishers and advertisers, and is part of the day to day job of most Account Executives.
Foundation Concepts Reviewed
Online Display Advertising campaigns are paid according to one of three models: CPM, CPC or CPA. The CPM (cost-per-thousand (or “mil”) pricing model means the advertiser agrees to pay for every 1,000 impressions shown. CPC pricing means that the advertiser will only be charged for clicks; CPA means cost-per-action (sometimes cost per acquisition or CPL, cost per lead) which means the advertiser pays when the user clicks on the ad AND goes on to buy (or take whatever action the advertiser wanted that user to take, for example registering or downloading something). When a user takes that desired action, it is called a “Conversion.”
When a user’s click path (from seeing the ad, clicking and converting) all happens in the same session, the conversion is said to be a “click-based” conversion. Typically, easy buying decisions, like the decision to download a ring tone for $1.00, will happen in one session. Sometimes, the user follows the click path toward conversion and steps away, perhaps returning a day or two later to complete the transaction. Many vacation packages are bought this way, for example. Although the actual path for that 2nd visit did not begin again with clicking on the same display ad, the site will recognize the user via cookies “dropped” on their browser during their first visit. It is possible to identify this user as someone who was there two days ago, who originally came to the site after clicking on X ad, which was served by Y. Let’s say that now, on the user’s second visit, the user buys. The resulting conversion will now be called a “view-based” conversion.
Potential Conflict Enters Stage Right
In a world of visibility, ad servers occasionally cause conflict between the agency and publisher – the publisher’s ad server counts “on the call” (that is, counts as soon as page loads) and the agency’s server counts “on the send” (when the ad starts to load on the user’s platform). In that gap, no more than a few seconds long, countless things can happen that may potentially change the count. The user could back-arrow off the page, or the user may have pop up blockers blocking pop up ads – which are frequently called -from actually serving. In one case an ad server might count on each call, and with another ad server it only counts when an ad pops up!
The Hero, Heroine Arrives on the Scene
Resolving these differences and discrepancies is the job of the Account Managers (AMs). Account Executives and AMs need to work as a team to avoid surprises. The better the ad operations of the site or network, the better job they do in making sure that the available ad inventory was most efficiently used, ensuring the publisher and/or network received the highest possible yield.
Happy Ending
With greater clarity of the terms, differences and potential conflicts, hopefully this article has helped better prepare you to put your online digital sales knowledge to work today and tomorrow. Here is to your success!
About the Author
Steve Bookbinder, CEO and lead trainer for Internet Advertising Institute has over a decade of experience selling online media, search engine marketing, and advertising. He has written and co-written more than 25 books, articles and audio training programs, and is most recently the author, with Jeff Goldberg, of How to Be Your Own Coach.To read more about the topic in this article or explore the online training courses visit http://www.InternetAdvertisingInstitute.com
Internet Advertising Institute: The World is Changing, Are You?
e-Zine Article.com source: http://EzineArticles.com/?expert=Steve_Bookbinder
Pricing Models and Controversy for Online Display Advertising
July 29, 2010 by admin2 · Leave a Comment
Introduction 
People outside the field, do not realize it, but the life of the online display account executive is one of negotiation, controversy and problem solving! Long gone are the days of reading prices off a sheet and filling orders by rote. Don’t miss out on the excitement, this article can be a refresher or introduction to some of the key terms and issues which need to be navigated to be successful in this innovative and quick-paced industry.
Opening Scene….
Consider with me, if you will how some advertisers will pay the original ad serving business with a 2-day conversion of ad serving to purchase, but many will not pay for anything other than a click-based conversion.
What is the web publisher or network’s Account Executive (AE) to do?
Well, the wise and prepared AE will have typically discussed in advance with the advertiser (or their agency) what gets counted. Determining whose count will be used in determining fees is one of the most common and important conversations between publishers and advertisers, and is part of the day to day job of most Account Executives.
Foundation Concepts Reviewed
Online Display Advertising campaigns are paid according to one of three models: CPM, CPC or CPA. The CPM (cost-per-thousand (or “mil”) pricing model means the advertiser agrees to pay for every 1,000 impressions shown. CPC pricing means that the advertiser will only be charged for clicks; CPA means cost-per-action (sometimes cost per acquisition or CPL, cost per lead) which means the advertiser pays when the user clicks on the ad AND goes on to buy (or take whatever action the advertiser wanted that user to take, for example registering or downloading something). When a user takes that desired action, it is called a “Conversion.”
When a user’s click path (from seeing the ad, clicking and converting) all happens in the same session, the conversion is said to be a “click-based” conversion. Typically, easy buying decisions, like the decision to download a ringtone for $1.00, will happen in one session. Sometimes, the user follows the click path toward conversion and steps away, perhaps returning a day or two later to complete the transaction. Many vacation packages are bought this way, for example. Although the actual path for that 2nd visit did not begin again with clicking on the same display ad, the site will recognize the user via cookies “dropped” on their browser during their first visit. It is possible to identify this user as someone who was there two days ago, who originally came to the site after clicking on X ad, which was served by Y. Let’s say that now, on the user’s second visit, the user buys. The resulting conversion will now be called a “view-based” conversion.
Potential Conflict Enters Stage Right
In a world of visibility, ad servers occasionally cause conflict between the agency and publisher – the publisher’s ad server counts “on the call” (that is, counts as soon as page loads) and the agency’s server counts “on the send” (when the ad starts to load on the user’s platform). In that gap, no more than a few seconds long, countless things can happen that may potentially change the count. The user could back-arrow off the page, or the user may have pop up blockers blocking pop up ads – which are frequently called -from actually serving. In one case an ad server might count on each call, and with another ad server it only counts when an ad pops up!
The Hero/ Heroine Arrives on the Scene
Resolving these differences and discrepancies is the job of the Account Managers (AMs). Account Executives and AMs need to work as a team to avoid surprises. The better the ad operations of the site or network, the better job they do in making sure that the available ad inventory was most efficiently used, ensuring the publisher and/or network received the highest possible yield.
Happy Ending
With greater clarity of the terms, differences and potential conflicts, hopefully this article has helped better prepare you to put your online digital sales knowledge to work today and tomorrow. Here is to your success!
About the Author
Steve Bookbinder, CEO and lead trainer for Internet Advertising Institute has over a decade of experience selling online media, search engine marketing, and advertising. He has written and co-written more than 25 books, articles and audio training programs, and is most recently the author, with Jeff Goldberg, of How to Be Your Own Coach.To read more about the topic in this article or explore the online training courses visit http://www.InternetAdvertisingInstitute.com
Internet Advertising Institute: The World is Changing, Are You?
e-Zine Article.com source: http://ezinearticles.com/?expert=Steve_Bookbinder
Effective Preparation for Selling Online Display Advertising
July 21, 2010 by admin2 · Leave a Comment
… “Follow Your Knows”
If you want to be a successful salesperson of online advertising, follow your “Knows.” There are seven things you absolutely, positively must know in order to compete in this industry. This article helps prepare sales people to achieve better results. As you read this article, ask yourself: “How well do I know and practice these?”
One: Know the Properties
First and foremost, you must understand what you are selling. If you are selling a single site, you must understand (and, to the degree possible, use and/or subscribe to) that site. If you are selling a network, that means you must know the various sites you represent. If you don’t understand the content, you can’t expect to sell it effectively. It’s that simple.
Two: Know the Targeting Possibilities
How can you help advertisers target the users who visit your site(s)? You can provide advertisers with the ability to display ads across the length and breadth of your site. If you sell a network, you also have the capacity to allow advertisers to show their ads across the entire network. You may also be able to give advertisers the option of pointing their messages at users who have context-specific interests that connect to a certain channel within a web site or a group of web sites. You may also be able to offer Behavioral Targeting (targeting based on past click history) or retargeting, which means focusing on people who have visited a certain site or pursued a certain offer in the past, who may have purchased – or abandoned the site during the conversion process. In those cases, it is imperative that you can describe to potential advertiser’s your property (or network’s) methodology for achieving success with these targeting filters.
Three: Know The Ad Units
Which ad units does your property support? Which size? GIF? Flash? Do you run video? Rich Media? If yes, which formats? What are your editorial rules about Rich Media formats? Although your company may only accept certain formats, you may be interested in knowing all the formats available. For the best answer to that question, consult the IAB (Interactive Advertising Bureau), which comprises “more than 375 leading media and technology companies who are responsible for selling 86% of online advertising in the United States. (iab.net).” Which standard ad sizes does your firm accept?
Four: Know What Account Management Can and Can’t Do
Once you sell an ad to an advertiser, you will “hand off” the account to the Account Management team. When you do, the advertiser will have certain expectations about what is going to happen, how often it is going to happen, and how quickly the campaign as a whole is going to achieve success. It is your job to make sure that those client expectations are realistic especially as the move through the process to the AM team!
Five: Know the Pricing
How does your company charge advertisers? There are three popular pricing formats which you are certain to encounter. But what’s more you need to know which formats your company provides:
- CPM: Cost per Thousand - the advertiser pays a set fee for the serving of 1,000 ad “impressions” regardless of whether anyone clicks on them or not.
- CPC: Cost per Click - The advertiser only pays for when someone clicks on an ad.
- CPA: Cost per Action or Cost per Acquisition (of a new customer/conversion; if the conversion is a lead, then this pricing is sometimes referred to as CPL – Cost per Lead) – The advertiser only pays when the click results in a conversion.
Advertisers may “speak” in CPA and you may only accept CPM. In that case, you will need
to learn to become fluent in Internet Math (if you are not familiar with this you need to learn it!) in order to help guide the customer through the conversion of one into the other.
Six: Know Who You Are Calling Today 
The most important knowledge any salesperson has is who they are going to call today. This includes knowing your target’s name, their direct phone number and email address. It also means knowing how many people you are going to call. For this you need to do a little reverse engineering – starting with determining your personal goals and your company’s sales goals. How much money are you trying to make? How many sales will you need to close each month to make that much? What is your average sale worth?
Seven: Know What You Are Going To Say and Ask
And finally, and most importantly, you are ready to call. You need to know the two most important questions which you will pose to every advertiser you will ever speak to:
1. Who are you trying to reach?
2. What are you trying to accomplish?
As you consider their answers think about the first 5 “Knows” above.
Are they trying to reach a target that is possible given your properties and targeting?
Can you support their advertising goals with the ad units they desire?
Will your Account Management team be able to reach these goals?
Did they/can you boil their goals down to metric goals (that is, the amount of marketing budget they are willing to pay for each ad or conversion; sometimes called a CPA Metric?).
Can you translate their CPA metric into CPM pricing (assuming you prefer to accept advertisers on this basis)?
Once you know those 7 “Knows,” you will be ready for a successful sales career. Until then, review them, learn what you don’t know and put them into practice!
About the Author
Steve Bookbinder, CEO and lead trainer for Internet Advertising Institute has over a decade of experience selling online media, search engine marketing, and advertising. He has written and co-written more than 25 books, articles and audio training programs, and is most recently the author, with Jeff Goldberg, of How to Be Your Own Coach.To read more about the topic in this article or explore the online training courses visit http://www.InternetAdvertisingInstitute.com
Internet Advertising Institute: The World is Changing, Are You?
e-Zine Article.com source: http://EzineArticles.com/?expert=Steve_Bookbinder
Pipeline Management Made Easy With Deal Flow
July 10, 2010 by admin2 · Leave a Comment
Learning and leveraging the three prospect stages can profoundly increase sales productivity. This article provides timely strategies to make this happen. 
The three stages?
Stage one: People who have had a first meeting with you and who have agreed to talk with you again at a specific date and time.
Stage two: Right budget, right person, right plan – and your contact has agreed to talk with you again at a specific date and time.
Stage three: verbal agreement to do business with you; clear start date.
As a professional seller, you need more than just one sale- but you do not need luck. You need Deal Flow; and Deal Flow comes from Pipeline Management. Pipeline Management is a fancy term that means “effectively compensating for the fact that prospects fall away over time.” Consider this: By the time you have the right number of prospects in Stage One – prospects that come from the best of the new appointments you’ve recently set – you will move perhaps two prospects over to Stage Two, while moving perhaps one prospect over to Stage Three. (That’s the call from the prospect saying, “We want to work with you, I’m sending the contract tomorrow.”) This is basic sales physics. The arrow that moves from left to right is the selling equivalent of gravity. More prospects will fall away than move forward. So a prospect moving from Stage Two to Stage Three would be a great development if you only needed one sale, but you need more. That means the short-term effects of closing that one sale can be a little frightening. After all, your best prospect just converted from prospect to customer – and the majority of the remaining prospects will, thanks to the laws of sales physics, backtrack to inactive status. Prospect backtrack is a natural phenomenon: the simple matter is, the pipeline reflects an instant in an ever shifting, dynamic pattern, and within that pattern, most prospects simply do not close.
Remember: we are tracking prospects, which means “people who have proven their willingness to move the deal forward by scheduling a meeting with us in the immediate future so they can discuss doing business with us.” If your contact doesn’t fit that definition, he or she is not a prospect!
So now the question becomes:
How do you get that many prospects?
Key point: To get Deal Flow, what you really need is enough prospects in that first stage to close the one deal you want to close this month (or whatever your goal is)… and still have enough left over to offset the majority of backward-moving prospects you’ll be looking at the month after that. And the month after that…. And the month after that….
You cannot get there by loading up your pipeline and then focusing on nothing but closing for the rest of your career. You can get there, however, by replacing backward moving prospects – at the same rate you are losing them. This strategy is both a science and an art. The first step is knowing your own numbers and your own ratios. How many new contacts do you need in the “first appointment” category to feed Stage One (and, eventually, Stages Two and Three)? There really is a number you must identify, a number that you can use to calibrate your own personal sales goal. If you know what that number is, you can create and maintain that level of new opportunity at all times. If you do not know the number, then, you cannot hit the target. The next critical step is recognizing a backward-moving prospect so that you know what is about to be lost. All too often, a prospect that appears to be nailed in place is really just hanging there by a thread. That thread has a formal name: time.
Believe it. The longer a prospect sits in place, the less likely it will ever advance.
Think about it: yesterday’s “great prospect” will move backward if not spoken to for, say, three straight months. Even when spoken to, and they say to keep waiting for a decision – the same thing is happening over that three-month time span. Our income potential is diminishing with each passing day. The art of pipeline management lies in learning to recognize the point at which prospects tend to fall away, and how to respond when they do.
This is the subject of a whole different course – one on sales management. For now, ponder this: If an inordinate amount of your fallaways occur after people reach Stage Three, then you are in all likelihood not gathering the right information up front and not talking to the right people. Until you improve your interviewing skills, you will continue to spend too much of your time misclassifying low-level prospects that are doomed to fail.
About the Author
Steve Bookbinder, CEO and lead trainer for Internet Advertising Institute has over a decade of experience selling online media, search engine marketing, and advertising. He has written and co-written more than 25 books, articles and audio training programs, and is most recently the author, with Jeff Goldberg, of How to Be Your Own Coach.To read more about the topic in this article or explore the online training courses visit http://www.InternetAdvertisingInstitute.com
Internet Advertising Institute: The World is Changing, Are You?
e-Zine Article.com source: http://EzineArticles.com/?expert=Steve_Bookbinder
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