I once heard Duke Basketball Coach Mike Krzyzewski tell a story about the importance of trust in team-building. Perhaps more than any other endeavor, sales requires pushing through despite failure. Sales people and sales teams that have very high closing ratios could probably increase sales by approaching more prospects and lowering their win-rate. But criticism of failure reduces the risk-taking that is necessary for success.
Automated advertising, “programmatic” in the industry vernacular, can be “automatically bad” just as well as it can automate the best thinking and analytics. Do you know the difference?
Sales people lose sales when they are not trusted and respected, and they can’t communicate effectively with senior executives who have the final say. That is why tops ad-sales people need to bring value to the call; not about their media, but new information or new perspective about the prospects market.
Many senior managers, without experience in sales, try to increase sales by setting deadlines and adding bonuses that hurt sales and hurt business. According to Ken Krogue, writing in the Harvard Business Review, “It is a vicious cycle. And companies know it. Yet they continue the practice, month after month and year after year, perhaps unaware of how much it’s really costing them.”
Challenger Selling is simply the re-booted and re-packaged Structured Selling process that made Ziff-Davis famous. By presenting a “challenge” that the customer is facing, like losing market share or missing sales, providing important information about that challenge, the sales person can better capture the attention of any prospect to engage them in a sales conversation that leads from the challenge — read their needs — to the solution being sold.
You might think that a super-star like Heismen Trophy winner Johnny Rodgers would just go to a meeting and clients would through money at him. But as the group discussed how to break new accounts and build the relationships and trust that leads to business, Johnny pointed out that in his experience it takes 7 “touches” to build a relationship to be ready to do business.
When it comes to publisher ad-sales strategy for programmatic, the objective is to realize the greatest portion of the “value” of an impression that it can. For programmatic ad-buyers their goal is to pay the lowest price they can for a higher “value” impression. Lets keep in mind that if the impression isn’t worth more than an advertiser pays, they wouldn’t buy it.