Tuesday, January 26, 2010

How to Manage your Time & Increase Sales

Today, I'm sharing with you a formula I've given the sales staff at the radio stations I work with.

If you are not in sales, you may stop reading and go play on Facebook.

(Yeah, I'm being sarcastic, because no matter what your title is in your company, you are a representative of your company and thus you are part of the marketing and as such are an influence in the companies reputation and ultimately sales.)

In the radio business, nearly any business could benefit from a radio advertising campaign that is handled properly. Radio advertising is an inexpensive way to reach lots of people and you can pick and choose both the message of the ad, and the audience. The formula for success is easy to determine.

In my 7 years with this group of stations, we have never had a problem with the radio programming side of the business. The area that we have difficulty is in generating revenue which is done by the sales department.

Some say sales is a numbers game. Which is true. The numbers I use are: 50, 30, 15, 10.

The first step is to have a list of prospective clients.

I have a list of 50 with me at all times. This is called filling the funnel. The purpose is to either kick them out of the funnel, or convert them into a paying, advertising partner= a client.

Once I have someone on that list, I have 30 days to start the process of moving them thru the funnel. If they don't have the money, can't find the money, or are not willing to sit down and discuss how I can help them grow; they get kicked off the list and I add someone else.

If they don't become a client in 30 days, but I see potential, then I may keep them on the list for another 30 days. But during the second 30 days, we have to be moving forward in the process.

At the end of the second 30 days, they are off my list because they are either a paying client, or the process has stopped and I need to move on. There are a few exceptions, between 10 and 15 that I will keep on my list for another 30 days, because we are moving forward, but I will not allow a business to stay on my list for more than a total of 90 days (3 x 30).

The next two numbers are face to face appointments. I want to schedule 15 face to face meetings per week with businesses on my list of 50. I expect 10 of those meetings to come to fruition each week.

By having this simple set of numbers as a way to organize my time, I am never at a loss for something to do that will result in increased sales.

As you look at your workload and the requirements of your work, what numbers will work for you?

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