Are Your Prospects Buying on “Gut” or Data?

Fri Jul 7, 2017

Kathy Crosett

When a prospect finally buys the media proposal you’ve put in front of her, do you know what has driven her decision? Borrell Associates buyinglooked at this topic recently and reported their results in a webinar. It turns out the answer to this question has a lot to do with the media format you’re selling.

Specifically, Borrell analysts were interested in knowing whether local advertisers go with a ‘gut’ feeling or let hard data and statistics influence them when they purchase media space. This is an important piece of information to have. Knowing how these decisions are made can help you craft the most effective presentations and be prepared to answer the picky little questions that always seem to come up during negotiations. Borrell’s survey covered 2,293 advertisers during the period from April through June, 2017, so they collected plenty of material on this subject.

Traditional media formats appear to be the ones purchased with more of a ‘gut’ feeling. Outdoor, magazine, radio ads, printed directory space and newspaper ad buys were all more likely to be made as a result of the local business owners’ gut feelings as they considered what to do. Borrell analysts say this situation “underscores the need for highly skilled sales reps who can influence those decisions.”

On the other hand,  marketers are looking for more data when they are considering TV ads, direct mail, email marketing and search engine marketing. In the case of online formats, it’s easy to understand the interest in data. From the start of online marketing, businesses have been shown that one of the advantages of these formats is definitive data to help them measure ROI and prove which campaigns are working. As traditional formats like TV become more digitized, advertisers have begun to see the value in having data, even if they need help with determining what it means.

The next time you’re ready to close a deal, think about the format you’re selling and provide the prospect with the right kind of data and be prepared to use your best selling skills to wield influence.

 

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About Kathy Crosett

Kathy is the Research Director for SalesFuel. She holds a Masters in Business Administration from the University of Vermont and oversees a staff of researchers, writers and content providers for SalesFuel.

View all posts by Kathy Crosett
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