Radio Ink Magazine – August 12, 2019

RADIOINK•COM 13

RICK FINK

PRESIDENT

ENS MEDIA U.S.A.

SALES

AUGUST 12, 2019

The old saying “A sale is never com-

plete until they sign on the dotted

line” is true, to a point. In reality,

the sales cycle is never really com-

plete until — you get paid!

As a media sales rep, collections

are part of the responsibilities, but

for many, it can be a very difficult

and stressful task. And when not

handled properly, it can cost every-

one involved — the sales rep, the

radio station, even the client — a

lot of money, time, heartache, and

reputation.

So how can you become a bet-

ter collector and make the process

easier and less stressful?

Step number one, the collec-

tion process should take place

before your client commits to your

proposal, or immediately after

they say yes. Getting the first few

months paid in advance and/or

having credit applications com-

pleted will go a long way in making

sure your clients know you’re seri-

ous about having the invoices paid

on time.

Fear is the main reason sales

reps do not like to have the pay-

ment process conversation. They

fear two things: one, that they will

offend the client by suggesting they

don’t trust them, and two, they fear

that the client will say no at the last

minute and they will lose the sale.

If you choose to have the conver-

sation after the client has agreed,

here is an example of how to do

that:

“Mrs. [Client], I appreciate your

trust in myself and my radio sta-

tions to help you with your busi-

ness. Going forward, here is what is

going to happen. Your ads will start

to air on [date], and they will run

through [date]. Around the 3rd or

4th of the month, we will send you

an invoice. We ask that you have

the invoice paid no later than [date

expected]. Does that work within

your payable process?” Whatever

their answer is, confirm by saying,

“Perfect, I will look for your pay-

ment to clear on [date a few days

later].”

To give a couple of extra good

pumps of grease for your squeaky

wheel, we suggest, if possible, you

hand-deliver the first invoice and

go over it with the client in detail,

restating the invoice due date and

confirming that it works for them. I

can assure you most sales reps do

not do this; because you did, your

invoice will be given higher priority

and you will be deemed as more of

a professional than your competi-

tors.

Luckily for those involved in

sales, 98 percent of business own-

ers are honest and sincerely intend

to pay their bills. There are the 1

percent that are, well, just dishon-

est or bums and never intend to

pay. Then there are those that

fully intend to uphold their end of

the deal but for many reasons (or

excuses) have a hard time. This is

where you need to be gentle when

applying the grease!

First, determine if they are being

honest and up front about why they

are not able to pay the invoice.

From there, determine your plan of

action. Experience tells me being

nice is far more effective than play-

ing hardball.

If you feel their reason for not

paying is legitimate and hon-

est, indicate that you are willing

to work with them, but that it’s

important that they keep the lines

of communication open. You can’t

help them if they don’t talk to you.

If the lines of communication slide

or go dark, apply more grease.

As they continue to dodge your

calls, apply heavier loads of grease

(more aggressive conversations

with date deadlines) by leaving

voicemails and e-mails saying,

“Mr./Mrs. Client, the only way I can

help you is if you reply to me. If I

don’t hear back from you by [spe-

cific time] on [specific date], you’ll

leave me no other choice than to

take further action. Please give me

a call by [restate day and time].”

Always be very polite and profes-

sional. People that tend not to pay

their bills also tend to make up and

fabricate stories (lies) about the

business or person that is trying

to collect. The goal is to get the

money and at the same time try to

make sure they are still speaking

highly of you and your station at

the end of the collection process.

If you’re honest with yourself,

you can typically spot the risky

ones long before they agree to the

advertising schedule. Have “the

talk” with them in advance — or

run like hell and you’ll save your-

self and your station time, money,

heartache, and reputation!

The squeaky wheel really does

get the grease!

THE SALE IS NOT

OVER — UNTIL YOU

GET THE MONEY