(By Rick Fink) I’m going to assume that if you are in the sales world, you didn’t come into it saying, “I just want to be average.” Account executives: do you know what your average invoice is? Sales managers: do you know what the average invoice is for each seller and your team?
Before you can “increase” your average, you must first know what your average is, and knowing your average invoice is a great place to start to increase your billing. Here are two quick examples of knowing the power of small changes to your “average invoice.”
Senior Seller “A” has on average 30 accounts on the air each month. His/her average billing is $45,000 per month. Their average invoice is $1,500. Going forward, if Seller “A” increases their average ask by $120, they will increase their billing by $3,600 a month and their income by 8%. Not bad for asking only $120 more per proposal.
On average, Small Market “A” has 420 invoices that go out each month. Its monthly billing averages $82,000, which equates to an average invoice of $193. By simply increasing its average proposal or package to $211 per month, an $18 increase, this station would increase its annual billing by more than $90,000.
Your current average invoice is, in essence, what your sellers believe your stations are worth. First, know what your average invoices are. Then, focusing on even the slightest improvement in average invoices each month, over time, you will produce huge results.
“The goal is not to be better than others; it’s to be better than your previous self.” – Dalai Lama XIV
NEVER Stop Learning – Get Better Every Day!
Rick Fink from ENS Media can be reached at 605-310-2062 or at [email protected]. Read Rick’s Radio Ink archives here.
