(By Pat Bryson) Going into this year, if you asked your clients what their Number One concern has been, you might have heard “finding enough staff.” That’s been a growing concern since business largely reopened in 2021.
You might also have heard “the cost of fuel and products.” Inflation has become a major concern. Not only have our clients encountered difficulty in finding and keeping good employees who will provide great service to customers, but businesses are now faced with raising their prices to keep up with higher costs.
Each day our clients wake up and try to successfully navigate an ever-changing business landscape. They juggle having the right products at the right time, taking care of customers with a skeleton staff, competing with hundreds of online and brick-and-mortar competitors, and trying to make a profit to stay in business. It’s a balancing act!
As fuel costs have risen in the past three years, any product that moves anywhere – whether by air, truck, or train – is affected by rising fuel costs.
As the cost of doing business goes up, only a portion of that cost can be passed along to their customers. The only way to safeguard their profit margin is to raise top-line revenue. That’s where advertising comes in.
Advertising creates traffic. If we entice more warm bodies into stores, and the store converts them into sales, revenue goes up. Smart business owners know they must invest money to make money. The higher cost of doing business is EXACTLY why they need to advertise.
I’d like to point out that we need to be constantly asking the question, “What’s the Number One problem you are dealing with today?” Their answer will change month to month, sometimes even week to week. What should their message be now? The answer to this question may tell us.
This becomes especially important as we prepare for the new year. Many of us will be renewing annual agreements with our clients. Do they need a different campaign? Can we add to their campaign? Can we add our digital products or additional stations? Are our messages on target? Asking the right questions will provide the answers we need to create successful campaigns.
Keeping pace with the shifting business landscape is a never-ending job: for us and our clients. Keep asking questions. Help our clients to find answers. Higher revenue awaits – for our clients and for us!
Happy Selling!
Pat Bryson is the CEO of Bryson Broadcasting International, a consulting firm that works with sales managers and salespeople to raise revenue. She is the author of two books, A Road Map to Success in High-Dollar Broadcast Sales and Successful Broadcast Sales: Thriving in Change available on her website. Read Pat’s Radio Ink archives here.
