What is fair compensation when it comes to sales? How should managers recruit and retain talent? Who makes the best sellers? These were all topics of Hispanic Radio Conference’s session “Navigating Radio Sales Compensation in the Digital Age: Challenges and Opportunities.”
The panel, moderated by Tomas Martinez, Owner and CEO of Solmart Media, included industry experts Shirley Davenport, GM of Curtis Media/WYMY, Angelica Balderas, SVP of Integrated Marketing Solutions at Entravision Communications/Sacramento, and Fernando Bauermeister, GM and VP of Sales at WPYO-FM/Orlando, WSUN-FM/Tampa.
The conversation began by defining compensation, with insights shared from a previous conversation at the NAB in April. The structure of the sales team was also explored, highlighting the need to retain and attract new talent in a changing landscape where 84% of sellers fall between the ages of 30 and 50.
Davenport emphasized the rise of salespeople without prior media experience and stressed the importance of passion for radio, digital platforms, and client assistance. Hiring individuals who have some business development experience or a background in real estate can bring fresh perspectives. Balderas added that finding the right talent involves recognizing that fresh college graduates may possess unrealistic expectations, while experienced professionals tend to have a more grounded understanding of the industry.
Bauermeister shared his strategy for assembling a sales team, suggesting that the best approach is to identify the most talented individuals in the market and attract them from competing companies. He emphasized the importance of always scouting for potential talent, even when not actively hiring. Additionally, he advocated for treating employees well and building a positive culture, stating that non-compete agreements are unnecessary when employees are treated with respect and provided a supportive environment.
The panel also discussed the crucial aspect of retaining salespeople. Davenport emphasized the significance of treating employees well and demonstrating their value within the organization. Balderas stressed the importance of trust in client relationships, noting that radio has an advantage over small digital agencies because clients prefer to buy from individuals they trust.
The panel then delved into the realm of digital sales, recognizing its growing significance. Balderas highlighted the need for radio salespeople to embrace digital offerings, as the industry is rapidly evolving in that direction. Clients appreciate buying from individuals they trust, giving radio an advantage over smaller digital agencies.
Training and expectations for new salespeople were also addressed. Balderas emphasized the necessity of ongoing learning and ensuring that salespeople understand their compensation plans. Regular training processes, including inviting guest speakers, were mentioned as effective strategies. Bauermeister emphasized transparency and honesty from the beginning, sharing information and involving the sales team in important decision-making processes, such as commission plans. Davenport added that breaking down the barriers between programming and sales teams is crucial, fostering a sense of unity and collaboration.
In terms of compensation, the panel revealed that close to 20% of radio sales professionals in the United States earn $100,000 or more annually. Compensation has also seen a 10% increase since 2021 among salespeople, indicating positive growth in the industry.
The panel concluded with a discussion on the essential elements of a good compensation package. Balderas emphasized the importance of ensuring salespeople understand the terms and conditions of their compensation plans. Bauermeister stressed the significance of simplicity, allowing salespeople to easily calculate their earnings. Davenport highlighted the importance of working closely with salespeople, providing support, and showing appreciation through incentives such as time off.
The panel discussion provided valuable insights into the challenges and opportunities surrounding radio sales compensation in the digital age. The need to attract and retain talented individuals, embrace digital platforms, and foster a positive culture emerged as key themes. As the radio industry continues to evolve, sales teams must adapt to meet the changing demands of clients and the digital landscape while ensuring that compensation packages motivate and reward their valuable efforts.
