What makes you or your organization different? What sets you apart from the competition? Do you really know? I often watch clients and try and help them in this area.
If you are a property, what differentiates you from other properties? Sure, you are a food bank and they are a hospice. Truly, you are different then. To the sponsor, though, you are not. The hospices and the food banks are the same. In fact, you are the same as the local paper, the sports team, and the radio station. The savvy sponsors will use the one (or more) of you that can best reach their audience and deliver results in the most cost efficient manner. If you can do that for $20,000 and the newspaper or sport organization can too, why should the sponsor buy you over them?
This is where you need to stand out and be different. My advice is to compete on service, not price. Many bigger organizations can undercut you if they want. But more importantly, don’t devalue your assets to get the business. If you do, that will be your point of differentiation. You will then be expected to discount and offer the lowest possible investment. If you are worth more, stand by your value.
How else can you differentiate? Deliver better fulfillment. When all is said and done, did you deliver on everything you promised? Did you produce a comprehensive fulfilment report that the buyers could circulate to their superiors with pride? When you were in the discovery process, did you listen? Or did you gab on about your organization? Did you grab for the whole budget or suggest a lower rights fee with an activation plan for the balance? Were you able to suggest other properties that may also be valuable to the sponsor in achieving their goals? Remember, people buy from people they like. What are you doing today to make your prospects like you?
A word of caution, though-buying gifts and lunches is not the way to get them to like you. Too often, I see the situation where property salespeople think if they get tickets to this or that concert for the prospect, “they will like me.” Or if they take the prospect to the fanciest restaurant in town, they think the prospect will buy from them. Only the brand buyers who are in it for the short term will be impressed. The ones you want to develop a relationship with will see right through you. Being helpful and acting as a source of knowledge for your partners and prospects will truly differentiate you from all your competition.
Today, property sellers out there are trying to close business and make budget. For most of them, it is all about them and what they need and want. You can rise above the crowd if you focus on the needs of the brand or sponsor. Work with them. Listen to them. Bring them ideas and concepts. Deliver fulfilment reports and generally care about their business. If you do that, you will stand out and be trusted. You will be recognized as the property with integrity and the knowledge centre.