Why read this? It’s short.
Why read this today? It’s simple.
A wise man and a very good friend said to me not too long ago the following:
Bad habits happen in a good economy … good habits happen in a bad economy. Your prospects are therefore suddenly back in the office and they are open to your solutions. Be very certain however, that your solutions lower their cost of acquiring a new customer.
About a week later, that same wise friend then said the following:
I have made it clear to every broadcast executive that I come in contact with that they must ask themselves if they completely understand and can therefore effectively explain the math of broadcast televison. If they are not 100% comfortable with these basics they need to go back and address this issue internally. One simply cannot offer effective solutions to advertisers if they do not understand, or further, accept the customer acquisition cost inherent in the broadcast television industry.
This second statement, the act of getting in everyone’s face regarding the math of the industry has become my friend’s #1 daily habit over the last twenty years. After all, simply stated, it’s all math. This habit of speaking to the math is the most effective means of communicating the true strengths of broadcast television. (Remember the old “Sight, sound, motion and emotion” list of benefits … hopefully you don’t remember, and further, hopefully you don’t utter it!)
Consider the following questions regarding the habit of speaking the math:
- Do you understand completely the customer acquisition math of broadcast television (and other media)?
- Do you speak the math in your presentations every day?
- Would you pass a pop quiz in tomorrow morning’s sales meeting?
- Would your sales manager even be able to administer the pop quiz without a cheat sheet?
If you answered “no” to any or all of the questions AND you still want to make a good living in the broadcast sales industry, you’ll need to change your habits — and quickly!
Simple stuff, folks!
Our clients and prospects have gotten back to their basics; it’s high time now for the industry to learn our basics of broadcast math.
It’s all math.
Roland Eckstein is the Managing Partner of ESA & Company, an advertising consultancy that accelerates profit and growth for local businesses.
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