“We have a special this month,” said the sales manager. “Anyone who takes our Mega Monster Package before the end of the month will get 20% off.”
There is a buzz among the sales reps. This is a good deal!
“And it’s good only for new advertisers.”
You’ve probably heard this many times before; a station will bend over backwards to attract new advertisers, while ignoring existing, loyal customers.
Why?
I know, there’s always the fear that: “If we give them a 20% discount, they’ll cut their schedule back by 20%!” That won’t happen if the discount is presented as a bonus—a reward for the customer’s loyalty over the years.
If anyone is worthy of a reward, isn’t it the customer who’s been a regular advertiser on your stations for two, five, ten years? A customer who is appreciated (and who knows it) is less likely to abandon you during tough times. Yet our often short-sighted approach is to reward new customers while ignoring those we have worked with for years.
Everyone appreciates a reward—think back to your last pay increase or promotion—and advertisers are no different. Don’t give them a reason to go elsewhere with their business.