Ad Sales as Investment Couseling

Advertising is not the only profession which deals with clients who have definite ideas about what they want.

Consider the stock market. Let’s say you call your stockbroker with the intention of buying stock in a particular company. If your broker believes it is a bad investment, do you want to be told? Of course.

But what if you insist on buying that stock anyway, even after hearing that other stocks would be better buys? Would your stockbroker handle the transaction? Yes. Stockbrokers don’t always sell. Sometimes they have to be order takers.

Recently I talked to Mary, a top producer for a leading brokerage firm. "This happens all the time," she said. "When clients are way off base, we’re faced with the task of steering them to better decisions. That’s one difference between average investment counselors and good ones. The average ones take orders, without trying to convince stubborn clients to consider other options. The good ones take orders, too. But they feel an ethicalobligation to offer advice first, even if their customers don’t want to hear it."

I asked if she worries about losing clients. "Most of them appreciate my honesty, even when they don’t take my advice," she said. "If I didn’t share my knowledge of investing, I wouldn’t be able to sleep at night."

Stocks and advertising have a lot in common. Both are investments. And both are expected to pay dividends. Lyle is a newspaper veteran who has dealt with a wide range of advertising clients. "I don’t sell space," he told me. " I sell results. So I owe it to my clients to do everything I can to make their newspaper advertising work."

What if a client comes up with a weak idea? "It’s really a three-step process," he said. "The first step is to listen to – or look at – the idea, without being judgmental. People are possessive when it comes to their ideas. Nobody likes to be told that they don’t know how to market their business.

"The second step is to explain why I think an alternative will work better. Product knowledge is a big key. The way I figure it, I’m supposed to know more about advertising than my customers. I know what works in the newspaper. And I keep up with television, radio and direct mail, as well. How can I sell my clients on the benefits of specific newspaper tactics, if I don’t understand what they’re hearing from my competition?"

What if the advertiser insists on running that stinker of an ad anyway? "Well," he smiled, "as long as the ad doesn’t break the law, I’ll put it in the paper. That’s when I move on to the third step – which is to accept whatever decision they make. I just remind myself that it’s their money, and they have every right to spend it like they want."

Sounds like good advice. Listen, explain and accept. With that approach, you’ll be making a solid investment in your career.

John Foust conducts on-site advertising training for newspapers, press associations and advertisers. For information, contact: John Foust, PO Box 97606, Raleigh, NC 27624 USA, E-mail: jfoust@mindspring.com, Phone 919-848-2401.

New MDDC Networks Representative

Stephanie is responsible for sales and the operations of the MDDC Classified Ad Network and 2x2 Network. She will be the main contact for member newspapers participating in the networks.

"In this difficult economy it is more important than ever that we actively sell MDDC’s classified and 2x2 networks," said MDDC Executive Director Jim Donahue. "We are very fortunate to have someone of Stephanie’s caliber to take on that important job."

Stephanie is a graduate of St. Mary’s College of Maryland. Her recent positions have included operations specialist for TMA Resources and member services coordinator for Intermodal Association of North America.

You can reach Stephanie at (410) 721-5115 or swilder@mddcpress.com.