Art of selling deals 4.26.12
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#2ndstdeals The Art of Selling Deals
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Transcript of Art of selling deals 4.26.12
#2ndstdeals
The Art of Selling Deals
#2ndstdeals
How to Interact with Us
GoToWebinar™Questions Panel
Twitter Hashtag:
#2ndstdeals
Note: We are recording this webinar and you will receive an email with links to the recording
and the slide deck.
#2ndstdeals
□ Increase ROI, Build & Engage Audience
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Who We Are
#2ndstdeals
Deadline Deals
To date, Deadline Deals has executed
• More than 3,000,000 gift cards sold
• On more than 400 local media sites
• More than 900,000 consumers have purchased deals through our partner’s sites
A truly white label deals provider
#2ndstdeals#2ndstdeals
Speakers
Matt ChaneyDirector of Affiliate Success –
Deadline DealsSecond Street
Jeff ShabramVP of Digital/Director of
Digital AdvertisingOmaha World Herald –Midlands Newspapers
#2ndstdeals#2ndstdeals
Agenda
• Organization
• Prospecting
• Standing Out in a Crowded Field
• Deal Approval & Negotiations
• Wrap-up
#2ndstdeals
Organization
#2ndstdeals#2ndstdeals
Sales Focus is Key
Months in GREEN are ones
with a dedicated rep
#2ndstdeals#2ndstdeals
Sales Team
Team Structure– Who’s selling deals
– How are they organized
Characteristics of a Good Deals Salesperson
Aggressive - a hunter Won’t accept a deal just to fill the
calendar Has a deal in mind ahead of call Understands traits of a good deal
#2ndstdeals#2ndstdeals
Keeping Deals Top-of-Mind
• Top down focus
• Sales training
• Sales contests
• Competitive tracking
• Review key accounts list
• Target lists – monthly reviews
#2ndstdeals#2ndstdeals
Training Reps to Get the Right Deal
Get “Cream of the Crop” Products and Merchants Focus on the Successful
Categories
Aim for Peak Season
Deals such as Golf, Yard
Care and Holiday Sales
Go after the Core
Products and Services of
that Business
#2ndstdeals#2ndstdeals
Setting Goals for Deals
• New customer acquisition
• Historical data
– Competitors
– Your own
• Seasonality
– Best categories
– Territory make-up
• Reps getting annual deal contracts
#2ndstdeals#2ndstdeals
Goals and Incentives for Reps
Establish NET goal per sales rep
Incorporate deals into digital goals
Focus incentives on:
New business
Bringing in target accounts
Target categories
Top deals – highest NET revenue
& most sold
Make it worth their while
#2ndstdeals#2ndstdeals
Support Structure for Deals
Use existing infrastructure
– Fulfillment
– Production & Design
– Customer Service
#2ndstdeals
Prospecting
#2ndstdeals#2ndstdeals
Category Mix By Revenue
Beauty19%
Event4%
Internal Product0%
Recreation16%
Restaurant39%
Retail9%
Services9%
Travel4%
Based on 400+ Sites
#2ndstdeals#2ndstdeals
Merchant Appeal Checklist
Strong Brand Awareness
Relevant Location
Multiple Locations
Capacity
Financially Stable
Positive Online Presence
#2ndstdeals#2ndstdeals
Where to Find Top Prospects
• Successful Past Deals
• Competition
• Review Sites (Yelp)
• Our Own Content & Reviews
• Reader’s Choice Polls
• Active Advertisers
• Chamber Members
#2ndstdeals#2ndstdeals
Target Lists & Key Accounts
• Produce a List of Target Categories for Optimum Deals – Set a Target Time Frame
– Assign Sales Reps Responsible for the Category, Target Results and Deadlines
– Create a Target List of Businesses on a Monthly Basis
– Optimum Run Dates
– Optimal Deal for Business
– Ensure Follow Through for Optimum Run
• Produce Selling Materials to Target Key Accounts
#2ndstdeals#2ndstdeals
The Pitch
Focus on the Quality of Audience and the Additional Media Exposure
– Print Readership, Online Reach, E-Mail List, Social
– Your Readers Demographics, Trusted Source, Higher Income, Loyal Readership
– Strong Potential for Repeat Business, Opportunity to Extend Promotion
#2ndstdeals
Standing Out in a Crowded Field
#2ndstdeals#2ndstdeals
Local Media
We’re Local
Ongoing Ad Options
Trusted Info Source
Affluent Audience
Key Client Relationships
Multiple Media
Promotions
Local Media and Deals
#2ndstdeals#2ndstdeals
Selling Against National Sites
• Reach Potential Customers with Better Demographics
– More Desirable Age Bracket
– Higher Income Levels
– Family Consumers
• Higher Spend per Visit
• Increased Potential for Repeat Business
We Reach More Valuable Customers!
#2ndstdeals#2ndstdeals
Deals are Advertising, too
#2ndstdeals#2ndstdeals
Top Objections
“I don’t need to advertise.”
“I’m already busy – I don’t need more business.”
“I want to promote this [product], not that one.”
“I don’t do discounts.”
#2ndstdeals
Deal Approval &Negotiations
#2ndstdeals#2ndstdeals
Good Deals are a Balancing Act
Revenue Goals
Audience Interests
Merchant Needs
#2ndstdeals#2ndstdeals
Negotiating a Deal
Promotional Power Highly Visible Print Ad
Post Deal Throughout Your Website
Produce a Strong E-Mail list
Inspire Strong Social Media Interaction
Target the Promotion Appropriately to the Deal
Local Presence
Local Site for Local Consumers
Supporting the Local Community
Trusted Local Source for News and
Information
Local Support for the Consumer
with Long Term Relationships
Local Support for the Advertiser
with Long Term Relationships
Leverage your strengths to get the deal you want!
#2ndstdeals#2ndstdeals
Getting Multiple DealsSite Benefits
• Build your inventory
• More efficient selling
• Lock-in top customers
• Plan ahead for deal stores
Merchant Benefits
• Gives advertiser consistent
marketing
• Ability to offer different types of
deals
• Bonus promotions for annual
contracts
#2ndstdeals#2ndstdeals
Deal Appeal Checklist
Aligns With Your Audience
Deal is Unique
Priced Appropriately
Few Restrictions
Bonus Offers
Expiration Date
Deal Category
Right season
#2ndstdeals#2ndstdeals
The Deals Committee
Focused discussion on deals Establish approval criteria Refine new deals Discuss negotiation terms for large deals Track & discuss the competition Learn from past deals
#2ndstdeals#2ndstdeals
Deal Rejection
Quick Tips
Point to established approval criteria
Look to refine deal, if possible
Why rejected? Recommend other
advertising options
#2ndstdeals#2ndstdeals
Advertising Conversion Model
Conversion Example:
• Gross Revenue is $5,000
• Less Platform Fees of (Assume 10%) Nets $4,500
• Net 50/50 split - $2,250 to Both Advertiser and Media Company
• Or Offer Advertiser an Advertising Match on Their Share and Provide $4,500 of Advertising for Their
$2,250.
#2ndstdeals#2ndstdeals
Revshare vs. Ad Conversion
Traditional Revshare Ad Conversion Model
Based on Gross Revenue of $1,500,000
$345,000
$1,035,000
$120,000
Advertiser Share Media Company Share Platform Fees
$690,000
$690,000
$120,000
Advertiser Share Media Company Share Platform Fees
#2ndstdeals#2ndstdeals
Post-Deal Follow-throughGoal: to build a long-term relationship by giving
merchants the tools to advertise consistently
Deals
BrandingOngoing
Offers
#2ndstdeals
Wrap-Up
#2ndstdeals#2ndstdeals
Key Takeaways
1. Must keep sales pressure on to be successful; not flavor-of-the-month product
2. The deals and merchants you run are a reflection of your business – choose wisely
3. Create deal approval criteria & share it
4. Leverage your top assets: promotions & audience
5. Work to build long-term relationships with advertisers with multiple deals & the Ad Conversion Model
#2ndstdeals#2ndstdeals
Questions?
Jeff ShabramVP of Digital/Director of Digital
AdvertisingOmaha World Herald – Midlands
Matt ChaneyDirector of Affiliate Success - Deadline Deals
Twitter: @mattchaney
