Gartner research is almost a 5-billion-dollar company with offices worldwide. They provide information technology research, tell companies — like SMBs (small/medium businesses) — what will happen, and then show them how to prepare for it. Recently, Gartner reported that by 2025 80% of B2B sales interactions between suppliers and buyers will happen via digital channels.
If you are dealing with a marketing director, agency buyer, or corporate buyer, this is heading your way like a freight train. In-person meetings are time wasters for millennial buyers.
Gartner points out that B2B buying behaviors are moving towards a buyer-centric digital model and away from an experience and intuition-based selling model. That’s a threat to most of us. Most sellers should focus on local direct buyers who are muti-tasking and not just buying media.
Yes, that means SMB, baby. Generally, a business with 100 or fewer employees is considered small, while one with 100-999 employees is medium sized. In most of our worlds, I would cut those numbers in half. If you work with buyers who are also the operations person, graphic artist, or owner and the single decision maker, you know who I am talking about.
If you want a longer ride out of this radio career, I suggest you do whatever you can to acquire, maintain and grow those relationships. Here are four things to remember when working with SMBs:
DEAL FROM THE TOP DOWN
Most of the time, you will be dealing with the business owner or one person who can purchase from you within their budget. These are busy people who are multi-tasking and are more interested in making money than taking meetings to decide where to spend it in media. Sports Radio has an advantage here because many of our core audience are owners and business decision-makers.
They already know of your station and feel more comfortable buying ads from you that they can monitor on their own time. Often, they listen to your station, hear who else is advertising, and have already considered whether or not they will consider working with you. Most of them need to know the price or approach with your station to launch a campaign and may even talk to your direct format competition.
SELL HOLES, NOT DRILLS
Event sponsorships, endorsements, remotes, heavy-frequency schedules, mobile ads, and social media sponsorships are different. These buyers know they have a problem and want to solve it. Maybe they are taking your call or replying to your email because they want to raise the profile of their business and sell it. Or, they are adding locations. Be an advisor and outline a few options to solve their problem. Show them how you can solve their problem and make more money.
IT’S THEIR MONEY
They may take a little longer to decide. Be ready to provide case studies, 3rd party endorsements, or video testimonials. They will buy when they are prepared to accept. Don’t pressure them but stay in touch with value-add communication until they are ready. Keep looking for SMBs who are buying now and nurture the ones who are six months away.
DO THEY HAVE MONEY?
Make sure you qualify this before you waste too much time. If they need to get a new location up and running before they can commit to an annual, sell them a Grand Opening package and follow up when appropriate. Make sure you explain your payment terms to them clearly and establish the security of how you handle their credit card transactions. If you ask the right questions, they will tell you if they have money to spend.
Jeff Caves is a sales columnist for BSM working in radio and digital sales for Cumulus Media in Dallas, Texas and Boise, Idaho. He is credited with helping launch, build, and develop Sports Radio The Ticket in Boise, into the market’s top sports radio station. During his 26 year stay at KTIK, Caves hosted drive time, programmed the station, and excelled as a top seller. You can reach him by email at jeffcaves54@gmail.com or find him on LinkedIn.
