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You are successfully signed into the Radio Advertising Bureau webinar:. Prospecting in a Down Economy Identifying Recession Resistant Business Categories and Maximizing Their Revenue Potential. For audio, dial into the conference center: 1-800-244-2500 anywhere in the USA
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You are successfully signed into the Radio Advertising Bureau webinar: Prospecting in a Down Economy Identifying Recession Resistant Business Categories and Maximizing Their Revenue Potential For audio, dial into the conference center: 1-800-244-2500 anywhere in the USA 1-212-786-7191 outside the USA, tolls apply PIN code: 993851# For technical assistance call RAB Member Response at 1-800-232-3131
Prospecting in a Down Economy Identifying Recession Resistant Business Categories and Maximizing Their Revenue Potential Doc Holliday Academy Training Specialist dholliday@rab.com Consumer Marketing
Our Agenda • Prospecting Strategies • Research • Using Data to establish credibility and relevance • 14 Strong business categories in a weak economy Consumer Marketing
Prospecting Sources Phone Book Referrals Office Buildings Signs Personal Activities Employment Courthouse Trade Shows Inactive Accounts Newspaper Groups Consumer Marketing
Prospecting Sources Phone Book Referrals Office Buildings Signs Personal Activities Employment Courthouse Trade Shows Inactive Accounts Newspaper Groups Consumer Marketing
Prospect Evaluation How do you decide which prospects to pursue? Consumer Marketing
Prospect Evaluation Here is a tool designed to simplify the process. Consumer Marketing
Prospect Evaluation Consumer Marketing
Industry Research Consumer Marketing
Industry Research Consumer Marketing
Industry Research Instant Background Reports Consumer Marketing
Industry Research Instant Background Reports Articles on Demand Consumer Marketing
Industry Research Instant Background Reports Articles on Demand Consumer Marketing
Industry Research Instant Background Reports Articles on Demand Consumer Marketing
Industry Research Instant Background Reports Articles on Demand Keyword Search Consumer Marketing
Industry Research Instant Background Reports Articles on Demand Keyword Search Consumer Marketing
Research is the bridge between the prospect’s need and your proposed solution.
? Let’s Open The Lines For Questions
15 Recession Resistant Business Categories • Grocery Stores • Fast Food • Wireless Communications • Senior Living • Insurance • Financial & Legal Services • Entertainment Infant Products Colleges & Trade Schools Weddings Home Improvement Health Care & Pharmaceuticals Health & Beauty Aids Auto Service & Repair Beverages
Infant Products • People are still having babies • Babies still have needs • Great category for stations that target young adults • Great online category (1/3 of mothers shop online and 2/3 research purchases online) • Sub-categories include infant nutrition, infant safety, baby furniture, toys, and clothing Consumer Marketing
Colleges and Trade Schools • Jobs are being outsourced • Old occupations are becoming obsolete • Companies are downsizing • People are losing jobs or worried by a lack of job security • Sub-categories include language schools, culinary schools, trade schools, distance learning, colleges, & education loans Consumer Marketing
Bridal Industry • People are still getting married • Great category for promotions • Great online category • Great category for stations that target young adults • Sub-categories include gowns, formal wear, photography, travel, jewelry, mobile music, floral, catering, bakeries, banquet facilities, apartments, and house wares Consumer Marketing
Home Improvement • Rather than buying a new house, people are improving their current home • Great category for co-op • Sub-categories include tools, paint, plumbing and lighting fixtures, flooring, appliances, windows/doors, do-it-yourself classes, lawn & garden, decks, and pools & spas Consumer Marketing
Health Care & Pharmaceuticals • People still get ill or injured • The hospital industry is very competitive • Pharmaceuticals are a great category for co-op • Great cause-marketing category • Sub-categories include hospitals, prescription drugs, OTC medicines, disease treatment, nutrition and exercise, eye care, dental care, chiropractors, and physical therapy Consumer Marketing
Health and Beauty (HABA) • People always want to look and feel their best • Another great co-op category • Very strong category for alternative revenue generation • Very strong online category • Great category to cross-promote department stores, grocery stores, and drug stores • Sub-categories include make-up, skin care, hair care, tooth care, hygiene products, and shaving products Consumer Marketing
Auto Service & Repair • People still have to drive • Not a good time for many people to buy a new car • In tough economic times many choose to clean-up and fix-up their current vehicle • Sub-categories include paint & body shops, engine repair, transmission repair, tires, detailing & car wash, and car audio Consumer Marketing
Grocery Stores • People have to eat • With food prices rising, it is a great time for grocers to do some PR • Great category for cross-promotions (don’t overlook food associations) • Great category for promotions • Sub-categories include standard grocery stores, specialty grocery stores, processed foods, dairy, frozen foods, HABA, beverages, deli, prepared meals, and bakery Consumer Marketing
Fast Food • Fast, inexpensive, and tasty...perfect for tough economic times • Great promotional partners • Soft drink companies will sometimes participate • Great online potential Consumer Marketing
Wireless Communications • The category just keeps growing • New products keep people interested in buying • Texting is a huge part of the equation • Stations can create texting-based promotions • Big cause marketing opportunities Consumer Marketing
Senior Living • Not only is there and aging demographic cell, it’s the largest cell (Boomers) • The focus on housing and caring for seniors is going to continue to grow for the next decade • Big cause marketing opportunities • Sub-categories include assisted living centers, retirement communities, nutrition and exercise, computers, and transportation services Consumer Marketing
Insurance • Heavily reliant on Branding • Huge PR needs in medical insurance industry • Great cause marketing partner • *24% increase in spending with radio Q1 ‘07 to Q1 ‘08 • Sub-categories include life insurance, home insurance, auto insurance, medical insurance, and commercial insurance Consumer Marketing
Beverages • Daily / Weekly / Monthly • *12% increase in spending with radio Q1 ‘07 to Q1 ‘08 • Sub-categories include beer, soft drinks, bottled water, milk, fruit drinks, and energy drinks Consumer Marketing
Financial and Legal Services • In tough economic times people seek help in growing, managing, and protecting their money • *20% increase in professional services spending with radio Q1 ‘07 to Q1 ‘08 • Sub-categories include retirement planning, bankruptcy, personal injury, financial consultants, credit repair, investments, and family law Consumer Marketing
Entertainment • The show must go on • When people travel less they look for local ways to recreate • Entertainment venues are always looking for a promotional edge • Sub-categories include local attractions, theme parks, water parks, concert venues, local sports, movies...and even home entertainment Consumer Marketing
Review Use all prospecting sources Qualify your prospects Research establishes your professional credibility Research establishes the relevance of your proposed idea Now is a good time to target businesses that do well in a down economy
? Let’s Open The Lines For Questions
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Prospecting in a Down Economy Identifying Recession Resistant Business Categories and Maximizing Their Revenue Potential Doc Holliday Academy Training Specialist dholliday@rab.com Consumer Marketing