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How Much Do You Value A One-On-One?

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How much would you pay to attend your weekly sales meetings or your one on one with your manager?

At first glance you may be wondering if I’ve gone crazy.  You may be thinking that I just asked you if you would pay money to do something you generally despise.  C’mon, admit it, the days you wake up and realize you have your sales meeting or your one on one are not your favorite days.  I’m guessing this is the case for most of you.

While many of you probably think that managers sit around and think to themselves “how can I waste more of my team’s time today,” the truth is that these meetings can and should be very helpful to you and some of the secret in making that so is YOUR participation and preparedness. If you work for someone who is really good at what they do, yes, you should absolutely be willing to pay to attend those meetings, because the return on investment should be high.

Our customers often judge us, or the campaign they purchased from us, by return on investment, or ROI, so why shouldn’t you do the same with your meetings.  Even if you don’t pay cash money to attend those meetings, you do pay with your time and time is money, right?  So, are you getting a return on that investment of time?

Image result for return on investment

The relationship between a good sales manager and a good account executive should be a solid give and take.  In a weekly sales meeting, it is reasonable for you to expect that your manager is going to provide information, materials and training that will help you become a better sales person and it is reasonable of your manager to expect you will participate in the conversation and not just sit and nod (or play on your phone!).

In a one on one, it’s commonplace for the manager to be prepared by having looked over your business on the books, understand your prospect list or funnel and be able to help with any challenges you might be facing.  However, these meetings can get off track fast if the account executive is not prepared with the right information or is unable to answer certain questions about their accounts.

As someone who has done thousands of one on one meetings as a Market Manager or Sales Manager, it is always amazing to me how some sellers know very little about their business, which is how you should always be looking at things, your list is your very own small business.  To be a great small business owner, you need to be intimately aware of everything about your business and the same goes for the account executive in charge of a book of business. 

Ask yourself right now, do you know how much revenue you have accounted for this year?  Is that more or less than what you did last year?  Do you know your closing ratio?  Do you know your attrition rate?  If you are a typical veteran salesperson and have twenty to thirty accounts on the air, isn’t it reasonable to expect you know a lot of this information about your own book of business?

I have mentioned this before but it bears repeating:  you have to worry about you and your manager has to worry about the group, so in the give-and-take world of the manager-rep relationship it is very helpful when you not only participate in discussions and know what’s expected of you, but also that whenever you bring a problem up, you offer what you think can be a solution. 

“I have a problem and need you to help me fix it” is not nearly as appreciated as “I have a problem, here is what I think might be a good solution, what do you think?”  Same goes for ideas for a client.  “I have a new client I want to pitch, this is what I learned about them in the CNA, and this is what I was thinking” is so much better than “I have a new client I want to pitch, do you have any ideas for me?”

Image result for pitch meeting

We are in sports so we all know about expectations.  As an on-air host I used to always say that’s what keeps the phone ringing (yes, I was on the air before texting when we took phone calls), are expectations.  If we didn’t expect our teams to win we wouldn’t be disappointed when they lose and therefore would have nothing to call in and complain about. 

Same goes for our sales careers.  It is reasonable to expect as managers that our reps know their business and will be prepared to discuss when needed.  As the account executive, it is more than reasonable to expect that when your time is taken up by a sales meeting or a one on one that you’re going to get valuable information that will help you sell more and make more money.  It should be so valuable, you’d even be willing to pay for it.

 

BSM Writers

Keeping Premier League Games Shouldn’t Be A Hard Call For NBC

“Beyond its massive global fanbase, the Premier League offers NBC/Peacock a unique modern 21st-century sport for the short attention span of fans.”

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NBC Sports is facing some tough, costly decisions that will define its sports brand for the rest of this decade.  A chance to connect with viewers in a changing climate and grow Peacock’s audience as well.  However, making the right choice is paramount to not losing to apps like Paramount+ (pun intended).

NBC is currently in the business of negotiating to continue airing the Premier League as their current deal ends after this 2021-2022 season.  NASCAR is contracted to NBC (and FOX) through the 2024 season.

NBC’s tentpole sports are the NFL and the Olympics.  

Negotiations for the EPL are expected to go down to the wire. Rather than re-up with NBC, the league is meeting with other networks to drive up the price. NBC has to then make a decision if the rights go north of $2 billion.

Should NBC spend that much on a sport that is not played in the United States? It’s not my money, but that sport continues to grow in the US.

If NBC re-ups with the Premier League, will that leave any coins in the cupboard to re-up with NASCAR? Comcast CEO Brian Roberts hinted that there might be some penny pinching as the prices continue to soar. This may have been one of the reasons that NBC did not fight to keep the National Hockey League, whose rights will be with Disney and WarnerMedia through ESPN and TNT, respectively.

“These are really hard calls,” Roberts said. “You don’t always want to prevail, and sometimes you’re right and sometimes you’re wrong, but I think the sustainability of sports is a critical part of what our company does well.”

Roberts was speaking virtually at the recent Goldman Sachs 30th Annual Communacopia Conference. He told the audience that between NBC and European network Sky, that Comcast has allocated approximately $20 billion towards these sports properties.

Comcast CFO Michael Cavanagh spoke virtually at the Bank of America Securities 2021 Media, Communications and Entertainment Conference and echoed that the company is in a good position to make some strong choices in the sports realm. 

“The bar is really high for us to pursue outright acquisitions of any material size,” Cavanagh added. “We got a great hand to play with what we have.”

While the European investments involve a partnership with American rival Viacom, the US market seems to have apparent limits.

Last Saturday’s NASCAR Cup Series at Bristol Motor Speedway was seen by around 2.19 million people. It was the most-watched motorsports event of the weekend. That same week eight different Premier League matches saw over 1 million viewers. More than half of those matches were on subscription-based Peacock. 

Beyond its massive global fanbase, the Premier League offers NBC/Peacock a unique modern 21st-century sport for the short attention span of fans. A game of typical soccer fan is used to a sport that is less than two hours long. The investment in a team is one or two games a week. 

My connection to the Premier League began before the pandemic.  When I cut the cord in late 2017, I purchase Apple TV.  Setting it up, it asks you to name your favorite teams.  After clicking on the Syracuse Orange and the New Jersey Devils, I recalled that my wife has family based in London, England.  They are season ticket holders for Arsenal, and that family redefined the word “die-hard” fans.

I’ve long been a believer that sports allegiances are best when handed down by family. I love hearing stories of people loving the New York Giants because their parents liked them, and they pass it down to their children.

I’ve successfully given my allegiance to the Devils to my young daughters. 

By telling Apple TV that I liked Arsenal, I get alerts from three different apps when the “Gunners” are playing. The $4.99 is totally worth it to see Arsenal.

Whenever I told this story, I was amazed to see how many other American sports fans had a Premier League team. Students of mine at Seton Hall University rooted for Tottenham Hotspurs, while an old colleague cheers on Chelsea.

Global Is Cool': The Growing Appeal of Premier League Soccer in America
Courtesy: Morning Consult

This is not meant to say that NBC should sign the EPL on my account. The key for any US-based soccer fan is that between Bundesliga, Serie A, and other leagues, there will be no shortage of soccer available on both linear television and streaming services.

Besides, Dani Rojas did say that “Football is life.”  NBC, originator of the Ted Lasso character, should make keeping its Premier League US connection a priority.

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BSM Writers

Media Noise – Episode 45

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Today, Demetri is joined by Tyler McComas and Russ Heltman. Tyler pops on to talk about the big start to the college football season on TV. Russ talks about Barstool’s upfront presentation and how the business community may not see any problems in working with the brand. Plus, Demetri is optimistic about FOX Sports Radio’s new morning show.

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BSM Writers

6 Ad Categories Hotter Than Gambling For Sports Radio

“Using sports radio as a back page service for gambling will have a limited shelf life.”

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For years sports radio stations pushed sports gambling advertisers to early Saturday and Sunday morning. The 1-800 ads, shouting, and false claims were seedy, and some stations wouldn’t even accept the business at 5 am on Sunday.

Now, with all but ten states ready to go all in on sports gambling, sports radio stations can’t get enough of that green. Demetri Ravanos wrote about the money cannon that sports gambling has become for stations. Well, what if you are in one of those ten states where it isn’t likely to ever be legal like California or Texas? Where is your pot of gold?

A Pot of Gold Articles - Analyzing Metals
Courtesy: iStockphoto

Or, let’s face it, the more gambling ads you run, the more risk you take on that the ads will not all work as you cannibalize the audience and chase other listeners away who ARE NOT online gambling service users and never will be. So, what about you? Where is your pot of gold?

Well, let’s go Digging for Gold. 

The RAB produces the MRI-Simmons Gold Digger PROSPECTING REPORT for several radio formats. In it, they index sports radio listeners’ habits against an average of 18+ Adult. The Gold Digger report looks at areas where the index is higher than the norm – meaning the sports radio audience is more likely to use the product or service than an average 18+ Adult who doesn’t listen to sports radio. The report, generated in 2020, indicates that sports radio listeners are 106% more likely to have used an online gambling site in the last thirty days. That’s impressive because the report only lists 32 activities or purchases a sports radio listener indexes higher than an average adult. I looked at those 32 higher indexes, and I think we can start looking for some gold.

Using sports radio as a back page service for gambling will have a limited shelf life. The gambling companies who commit significant money to get results will continue advertising and chase the others away. So, the future of sports radio needs to include other cash cows.

If it is evident to online sports gambling services that sports radio stations are a must-buy, who else should feel that way?  I looked at the Top 32 and eliminated the media companies. ESPN, MLB/NHL/NFL networks, and others aren’t spending cash on sports radio stations they don’t own in general. But Joseph A Bank clothing, Fidelity, and Hotwire should! Here’s your PICK-6 list I pulled together that’s hotter than sports gambling:

  • Sportscard collectors, Dapper Labs, Open Sea- read about Sports NFT $.
  • Online brokerage firms-Fidelity, Charles Schwab, Robinhood, Webull, TD Ameritrade
  • Golf courses, resorts, equipment, etc.- we play golf at home and vacation
  • Hotwire.com, Booking.com, TripAdvisor, Airbnb, Carnival Corporation, and Priceline.com- we’ve used Hotwire in the last year.
  • FedEx, UPS, U.S. Postal Service, Venmo, PayPal, Zelle-we wired or overnighted $ 
  • Jos. A. Bank, shein.com, macys.com, nordstroms.com- we went to Jos. A. Bank in last three months

The sports card/NFT market is 32% hotter than the sports betting market for sports radio listeners. Everything on the PICK-6 is at least 100% more likely to purchase than an average 18+ Adult who doesn’t listen to sports radio. All listed are at or above indexing strength compared to sports betting. The individual companies I added are industry leaders. Bet on it! Email me for details. 

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