Digital Direct - Tuesday Training
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00:00you see the bro compass training slide on on screen okay good good good and I think
00:07um all right as we go Ashley feel free to if you want to help me moderate any questions that might
00:14come through as I'm presenting I may not catch them so feel free to kind of make me pause
00:19throughout I'd appreciate that no problem so um my first name is Taryn Tatara now it's most of
00:26people just kind of drop the last name and I don't fault you for that it's a long one um you can call
00:31me Taryn T or just T there's my direct contact information um before I jump into everything
00:37we're going to cover today just a little bit about myself I've been with Burrell now for coming up on
00:42two years prior to Burrell I worked for a media company um on the digital side I sold digital I
00:48managed a digital team and then I moved over to doing uh managing for kind of integrated sellers
00:54which was for a newspaper company Waco Media if you've heard of it I'm based out of the
00:58Chattanooga Tennessee market which is where the paper was that I worked for I work remote for Burrell but
01:03the biggest thing why I wanted to mention some of my background is because I'm not just the research
01:09person that sits on the other side of Burrell like I've been in your shoes I understand you know a lot
01:13of the day-to-day stuff and fighters you're up against and how to position the data to talk with
01:18clients I think is the biggest thing is I don't want to give you a tool and then say good luck and go use
01:23it happy selling I really want to talk with you how it can help you as a seller or as a sales manager
01:29or as a digital seller how to talk with your client about it so that's my goal for today
01:35so let's see if I can get the slides progressed and then we will move forward here let's see here
01:41I said not moving there we go okay so here's what we're going to go through today here's our overview
01:49I'm just going to give you an overview again of what compasses this may be just a refresher for
01:53some I want to talk specifically with you about how to use the data to get in the door um with
01:59clients okay using compass one of the biggest things that we hear from sellers with Burrell is
02:04when we say what's your biggest you know objection as far as moving things forward with clients and
02:10the biggest thing is landing the appointment people are busy um you know you really have to have some
02:15valuable data or a valid business reason right to get them to meet with you and so compass can be
02:21that exact tool for you I'll walk you through how to get set up if there's any new users on the call
02:27if you currently don't have access to compass just let Ashley know she'll send over your email your
02:32information we'll make sure that you get set up with access today or tomorrow I'm going to highlight
02:38some of the compass resources for you that's available and again Ashley I know you have some of those on a
02:43a shared drive of some kind where the team can access those as well and then I'll walk you through
02:48the steps to generating a report and how to read it so before I talk about compass I want to kind
02:54of go over a couple of basic things I apologize if you're like Taryn get to the point this is super
03:00basic but it ties into compass so just bear with me there's three approaches to sales really when we're
03:07selling with clients there's relationship selling need satisfaction selling and the challenge selling
03:13approach when you're talking about compass and how we use compass it really falls under that challenge
03:18selling approach you're challenging your customer to kind of think differently act differently you're
03:25positioning yourself as the market expert that they should listen to you're not just going in and
03:29talking about digital or just radio you're talking with them about the whole market landscape of what's
03:35going on across different media channels not just your own so positions you as the expert also you
03:42really want to ask very specific questions that's going to give you the highest yield of information so
03:48once you have that information from your client you can then turn that into the solutions that make sense
03:53so you're asking very specific questions now when it comes to selling there's really an art with it
04:00as you know right we wouldn't be in this role of selling or sales managers or talking with your
04:06clients about digital solutions for the business if you didn't have some type of sales skill you're
04:11able to persuade clients but it's really about asking the right questions you're asking in all the right ways
04:19but when it comes down to it it only matters what your customer says you just you've got to lead the
04:24conversation and get them to say it know where you're taking your clients you want to anticipate
04:32you know the questions that you're going to ask anticipate their answers or at least some of the
04:35possibilities that they might respond with of course bring in new information your clients your
04:42customers you're calling on they don't want the same information or the same promo you have going on
04:47while it might be great it's not about that okay they want ideas of course bring in solutions
04:52but in order to get in the door you've got to bring something that's going to get their attention
04:57so you guys are in a lot of different markets um you know detroit tampa um myrtle beach you're in
05:04so many different markets these are big markets there's a lot of competition out there how do you feel
05:09you stack up against your competition local business owners they're called on as much as 25 times a month
05:17by folks just like you that's selling them advertising and marketing solutions some reps that i talk with
05:22some of the other data sources that they're looking at is saying some markets businesses are called on
05:27as much as 40 times a month that is a lot so you really have to bring that valid business reason to
05:33the table in order to get the appointment also local business decision makers they have limited time
05:41marketing is just one of the tasks that they balance amongst everything else that they're doing in their day
05:47so the other thing to realize is that none of your clients have a hundred percent of the market share
05:54they're trying to increase market share they're trying to grow their customer base they're trying to
05:58retain their customers so they do need your help but you've got to get their attention the number one
06:04question we get at burrell and and many of you may know this um but we do a local advertiser survey
06:10every year and beasley often participates in that and one of the things that we get from local business
06:15owners is are we spending the right amount okay they don't they really don't know 48 of local smbs
06:24in fact have no strategy for setting their ad budgets think about that for a second let it sink
06:30in 48 so almost 50 of the people you call on they don't have a strategy don't you think you could help
06:37them with that strategy just kind of puts things into perspective 58 say they are unsure they're
06:44spending the right amount so between those two stats for me myself as a media previous media seller
06:52that just screams opportunity to me i have the opportunity to impact that okay you have the
06:58opportunity to impact that it's just a matter of asking those those questions and getting down to the
07:04information okay bottom line they're looking for guidance they're turning to you as a local media
07:10expert as a marketing expert when it comes down to it there's really only two things that they need
07:16your help with that is to compete in the market they want to increase their market share they want to
07:21grow their customer base and of course they want to sell more stuff they want to sell more services
07:26more products and they need your help to do so to get the message out there to market their brand
07:30market so getting past all that again the basic stuff i know maybe there was a couple of things
07:36you could take away from that at least i hope so anyways let's talk about what compass is and again
07:41if you're hearing this um for the first time maybe this is new if you're not hopefully this is just a
07:46reminder for you compass is a database of advertising and promotions data it's spending for your market
07:53this is what local businesses are spending on advertising and promotions this is not what local media
07:58companies say they're getting from smbs this is what businesses are reporting okay this is based on
08:05your local market geography so if you're in detroit you can look at detroit data if you're in myrtle beach
08:11you can look at data from myrtle beach uh beasley subscribes to the compass data for each of the markets so
08:16no matter where you're sitting you have access to that specific local data again compass is focused on
08:24advertiser spending not media company receipts so this is a big differentiator when it comes to compass
08:29compass is going to provide information for all media channels whether it be out of home radio digital
08:36newspaper okay all the channels are there it also covers all different business categories there's over
08:43a hundred business categories so if you're calling on a furniture store you'll want to look at furniture
08:48specific data spending data if you're calling on a lawyer's a lawyer or um a florist whatever the case
08:56might be flooring companies um there's so many different channels here and i guarantee you that any
09:05type of business you're calling on for the most part is going to be there now if it's like a not-for-profit
09:09or something that's kind of niche it may not be in there but it measures the top spending categories
09:14in advertising which are the ones you want to be spending your time on anyways now one thing to be
09:18aware of compass is average okay it's average for the market based on the size of business
09:24so it's not going to give you the exact dollar that the company is spending it's going to give you
09:28it's going to put you in the ballpark okay it's called compass for that exact reason it helps really
09:33be a guide for you to have a conversation with a client this gives you information for both
09:40inside and outside the market inside represents dollars that are spent by a brick and mortar
09:47business let's say in detroit okay let's say you're in detroit you're calling on a furniture store
09:52that's located in in detroit and that particular customer is spending in detroit that would be a
09:58representation of inside the market spending okay you'll also see in compass there's outside the market
10:04spending outside is outside of detroit okay it would be outside the detroit footprint however
10:10maybe there's a business there that's spending in the market but they don't have a physical location
10:15that you could call on okay we'll talk more about that once we get into compass there's also really
10:21good value when you compare categories um for those of you that are like to you're more of a strategic
10:27thinker you want to be spending your time on on clients that make sense where there's categories of
10:33opportunity if you're comparing the furniture category versus the floor covering category and
10:39maybe a couple others you can use the data to look and see okay where's my best my my time spent
10:45best at you know which category is a really good opportunity again compass is not a gps so it's not
10:52exact dollar for dollar it gets you in the ballpark of what's going on and it's pretty pretty close okay
10:58all right moving on how do i use compass if you're a seller or a manager if you want to you know look
11:06at compass more strategically you can use it to track your market share you can track the categories
11:13or the media channel so what i mean by that is if you look at all of the furniture stores in the
11:20market and you want to see okay how many furniture stores are there in detroit compass can help you
11:24identify that you can also say okay of all the furniture stores in detroit how many do we do
11:30business with what's your market share how can you grow that so you can focus on specific channels or
11:37specific categories identifying those key business categories of opportunity a lot of companies and
11:43clients that we work with they might not be looking at things overall they might just be focusing
11:48on a few key categories and really really drive after those um tactically if you're a direct seller
11:56what compass can help you do um one of the things of course is getting in the door with prospects
12:01having that valid business reason for a reason for them to sit down and meet with you or to connect
12:07by phone or by zoom practically it'll also uncover your prospects full marketing budget so again you're not
12:13just talking about your specific media but you're giving your client information about what's going
12:19on in in billboard you know does their category spin a newspaper okay it's changing the dialogue to
12:25focus on big picture not just your media and of course with this you can identify some opportunities in
12:32the competitive media channels right so if a client is running a newspaper but they're not happy with it
12:39you leverage that in the conversation to make your own recommendations for something that might be
12:44more suited for your client so staying in the door with a client can be challenging you've got to have
12:49a plan okay and some of sometimes this is doing the research on the front and you never go in
12:55and call in a client before you do your research right i can't tell me tell you how many times i worked
13:01with um reps and they would never look up the client's uh email or sorry facebook page
13:08their social pages or their website and of course the digital side of me is going streaming inside
13:13going oh my god you got to look at their their online presence at least before you walk in their
13:18door so have a plan what whatever it is if you are role-playing with your manager you're role-playing
13:24with your colleagues have a plan what that looks like part of setting the appointment with compass i'm
13:30going to walk you through a scenario and some of you may have seen this before i know ashley probably has
13:35but this is how you can use compass data to set an appointment with a client so this is just um you
13:41know a same an example and you can make it your own but it goes something like this okay mr advertiser
13:47the reason i'm calling is my company here at bbgi or whatever station you want to use here we invest
13:54heavily in research to help local businesses like yours be more competitive in fact one of the things i
14:00can do is show you just how much money furniture stores are spending on different types of
14:05advertising and marketing right here in the tampa sap market for example or switched out for detroit
14:12not only how much they're spending today but how they're applying those dollars to different
14:16marketing tactics and how it's changing over time would you like to take a look at that okay now you can
14:22tweak it make it your own but this does work a lot and two key things that i've highlighted in this
14:27lighter blue color is that your company invests in research okay your company is invested in the
14:33tools with barrel to help businesses be more competitive if you think about it a local smb
14:40doesn't have the resources to invest in this kind of data for themselves they just they don't and so
14:45this is information that if they can get their hands on it to help them be more competitive in the
14:49market they want to take advantage of that now again it's not going to work every time maybe you
14:55get a little pushback from clients and they say you know it sounds interesting i just have a lot
14:59going on right now sure get that right um you know they may push and say can you just drop something
15:05off or can you email it to me it's compass is really not about that okay compass is not about
15:11shooting it over in an email it's about helping you have a conversation with a client so really push
15:16to try to connect maybe the client says if you come by tomorrow before i open i'll give you 15 minutes
15:21okay and that's fine um here's one thing that you do need to know and um another kind of follow-up
15:28to that is mr advertiser since we'll have just a brief time window tomorrow and i want our discussion
15:34to be as efficient as possible do you mind to share with me how many employees you have okay what we
15:41found in our research is that there's really a direct correlation with the number of employees a
15:45company has and how much they're spending on marketing and advertising so understanding the
15:51size of their business is going to help you get to the budget because on the flip side of that you
15:56can't call on a client and say by the way before i come meet with you can you tell me how much you
16:00spent in advertising last year i don't think they will share that with you matter of fact i almost 100
16:08percent sure they won't unless of course you have a really strong relationship there maybe their family
16:13whatever but understanding what that number is of employees or even a close estimate is going to
16:19help you determine the report in compass so make sure you know that number
16:25before we move forward and i walk you through compass i want to share a couple of success stories
16:29with you um these are specific from other sellers like yourself this one is from elizabeth jenkins in
16:36the colorado springs market she was calling i'm not going to read this verbatim you can read it
16:41as well and i'll send these slides over to ashley to share with the team but she was calling on an
16:46rv repair shop so kind of a niche category um she says although he's not an rv dealer his competitors
16:53are okay so she says his current marketing mix relied heavily on traditional advertising media
16:58whereas his competitors were out spending him on digital this happens all the time right you you
17:03guys see it he sat up asked questions and signed when i brought a proposal later in the week
17:08instead of recommending a blanket digital campaign we dissected what would be effective in comparison
17:13to the competitive landscape so she jumps down here and says compass framed me as a subject matter
17:19expert in the client's eyes and i want his trust in there for his business so she positioned the data
17:26to help show the client this is what your competitors are doing to you she won 34 000 in new business
17:32revenue from that one deal okay that's one contract and we hear these results and wins and testimonials
17:40all the time this is just one seller with one scenario so think about your entire book of business or
17:45your entire list of prospects how many can you make an impact with the data so think about it another
17:52scenario um this is from a digital specialist out of the columbus ohio market um this is a tv client so um
17:59an ent practice was a long time tv client she said the board members were elderly not familiar with
18:04digital advertising how many times have you heard that they're marketing directors on board with
18:08digital but needed to convince the board that digital was the way of the future i came in armed
18:13with compass data which was exactly what she was looking for the spend by category both inside and
18:18outside our market made the board realize that putting the majority of the ad dollars in tv was not
18:23sustainable okay she says there's a slim to none chance that i would have um would have won this
18:29business without compass for all data this is from leah that was fifty four thousand dollars in
18:33incremental revenue so that was on top of the tv dollars all right so again we hear these all the
18:40time here's one last one for you uh this is from teresa she's in the lacrosse wisconsin market she's a
18:46general sales manager this is a client who was a salon owner um she said this year we introduced
18:53targeted display and geofencing to recruit for stylists and technicians the compass helped me
18:58convince her to use digital based on what her competitors were spending and were doing to her
19:03okay great tool to share competitive information and persuade clients to grow their spend
19:08and full funnel marketing solutions that resulted in eighty six thousand dollars of incremental revenue
19:14again a few different scenarios the compass data is going to help you get in the door can help
19:20you close business point out what's going on with the competition and ultimately make you look like
19:25a rock star and that's what you want so um i'm going to assign you just a brief homework homework
19:31assignment you may be rolling your eyes at me right now i can't see your faces um but the reason why
19:37i want to assign some homework is because after today you're going to go on with the rest of your day
19:43and the rest of your week and then maybe in a couple weeks you go huh i wonder if i should look in
19:47compass for this information or you know what what's that tool that taryn was telling me i had access
19:51to or that ashley was um scheduling the training for us just carve out some time for yourself and i
19:57want you to identify a couple of things i want you to identify a client that you're currently working
20:03on retaining maybe you're concerned that they're going to cut um or maybe you're seeing them spend more
20:09with your competitive media look them up in compass look at their category see what they're really
20:15spending and look at ways and maybe how you could help retain them secondly i want you to identify
20:21a client that you can grow maybe you know there's more potential there than you're currently getting
20:25look up that particular business category in compass and then lastly you probably have a business
20:30target list of some kind a client you're looking to acquire and spend some time in compass the reason
20:37why i want to sign this is because i want to pull it into real life scenario okay not just um a
20:43hypothetical just training uh webinar if you will and again beasley is investing in this data to make
20:50it available to you so why not take advantage of it this is a tool that's going to help put more money
20:55in your pocket and help your customers and that's just a no-brainer if i had access to this kind of
21:00stuff when i was selling like you i guarantee you i would have made more money close bit closing
21:05bigger deals um if you're accessing compass for the first time what you'll want to do is type in
21:11adspending.com in your browser that will take you directly to compass and here in a moment i'm
21:16actually going to navigate over there so you can either follow along on my screen or if you're doing
21:21it yourself you can type in adspending.com you're logging in for the first time you can click on my
21:26profile at the top right hand corner and then you can also change your password there to something you
21:32can easily remember real quick before we switch gears the steps for logging into compass again go
21:39to adspending.com the steps are very simple you can select your market your footprint selecting your
21:46business category the forecast year and generating the report and then in order to get to the spending
21:51worksheet which gives you a breakdown of a budget spend for your specific type of category you're going
21:57to navigate to tools and click on spending worksheet the reason why i have this particular slide in
22:03here is just as a quick reference if you want to print it off or keep it somewhere that's easily
22:07accessible i don't print things i keep things everything digital i know you guys are digital
22:11people so you probably too um but save this one particular page if you want to as a quick reference
22:18whoops um for compass supporter questions you can email myself directly you can also email compass
22:24underscore support at barrel associates there's our phone number that's our headquarters office
22:29number um but that'll get to me or one of the other team members if you need if you have or are stuck
22:35generating a report or you have questions you can always email us there it goes to myself and my team
22:41and we usually do be try to be pretty timely in our responses to to everyone um i'm going to take a
22:47quick pause here and uh just see if there's any questions so far i don't think anything has come in the chat
22:53but um ashley anything you want to chime in here as i log into compass
22:59no this is great um we have a lot of stuff organized for you in academy um but i will
23:05make sure that the directions that taryn just showed us i will email to you um and also i'm getting your
23:14logins by the end of the day to taryn so i'll have all that for you tomorrow
23:20um okay perfect ashley um i appreciate that and um i have my personal email set up to log in as if
23:29i were um you know under the beasley account and by the way you'll see this expiration date on here
23:36it's because we're currently um getting the paperwork completed to renew your compass access
23:42with beasley so that should go away here in a few days um my colleague jim brown is in touch with
23:47your leadership team and just taking care of the paperwork so you'll see that there um again the
23:53first thing you want to do is kind of go to my profile change your any of your information there
23:58and then of course you can see your footprint so here's all of the different markets that you
24:04have for beasley okay um you'll also notice that there are some custom markets here
24:10beasley at leonard radio market beasley augusta radio market well the reason why we have these
24:16custom markets is because some of your team has said hey it'd be really nice to see this group broken
24:22out separately um maybe even the full market area and so that's what these are um you'll also notice
24:30that this says tv market area instead of like a dma dma is actually a nielsen term so we have tv market
24:38area it's almost the exact same thing and you also have the option to look at something by county
24:43so if you did not want a full footprint but you wanted to select a couple different counties you
24:48can do so there but just as an example i'll show you here um atlanta well let's see i pulled a couple
24:55reports already for tampa so we're just going to stick with tampa so once i have my market selected
25:00i can go down to the bottom left hand corner and i'll see all the different counties that's included
25:06for that particular footprint that i selected okay um before i generate that first report i do want to
25:13point out a couple of things real quickly for you under the resource tab there's um some helpful
25:19things here so in your homework assignment along with identifying those categories um you know the
25:25the row maintain or retain and acquire spend some time digging through here into the resource section
25:31there's media definitions um and i do encourage everyone to read over the media definitions you
25:38can scroll through here quickly if you'd like but there's a lot of good information um things like
25:42addressable market so we know that there's a lot of digital dollars that's being spent in each market
25:47however there are a lot of dollars that go to google facebook craigslist auto trader all those direct
25:53sites right um so we do have um the digital addressable dollars what's available to local
26:00media companies you'll see that here in compass but there's also definitions for outside the market
26:06inside the market that i mentioned earlier and then also there's your geography footprints and then each
26:12of the media definitions so when you're looking at the dollars that's associated with each media channel
26:17you'll see newspapers this is a bucket sometimes i get questions on so if a client is spending in
26:23magazine ads it's going to fall under this bucket here called other print okay this is magazines
26:28shoppers penny savers niche publications things you might see in the doctor's office
26:34um directories yellow pages okay um let me scroll down here a little bit more out of home this
26:40includes your billboards public transportation buses kiosks things like that um online you guys are
26:47digital sellers so this is one you want to get familiar with display you've got your ros targeted
26:54display this is one i want to point out for you here this also includes social display okay social
27:02targeted display also falls under targeted display unfortunately right now it's not broken out i think
27:08probably in the future it will be um so any type of mobile targeting audience segmented targeting
27:14social targeting all falls here now this does not include social media management or anything like
27:20that those are what we call digital services anything that's like website design um seo those are not
27:27direct ad spend okay those are digital services so compass is strictly advertising spend we do have
27:34that data but it's in a different format and different report because it's measured very differently
27:38than compass than the compass methodology one other thing i want to point out you guys sell a lot
27:43of ott and have some great um video solutions so online video does include ott so just wanted to make
27:49note of that for you as well that's under the media definitions then of course you have your business
27:54category definitions you can also sort these alphabetically if you like you can see these
28:00little arrows throughout compass so here's all the different categories you'll notice that some of them
28:06are in caps these are in caps these are what we call a roll-up category they have multiple sic
28:12group code numbers okay you can see those different variations there um this one in particular auto
28:19aftermarket includes automotive parts supplier rentals repair gas stations and so on but if you
28:25and then there's auto up here if you just wanted automotive sales for example you can come down and that
28:30would be the category to select when you generate your report okay so just be mindful of that um
28:36methodology if you are going okay tearing all this sounds really cool but where the numbers really
28:42come from you want to read up on the methodology again it's based on what local smbs are spending
28:48what they're reporting to the irs um we also have a lot of other data that goes into the model such as
28:53data from dun and brad street that we purchase we have data from the the iab um and then a lot of
29:00other um information that we look at as well if it's automotive specific data there's data from the nada
29:07from polk and so on so lots of details there i encourage you to read over that okay let's get to it
29:14let's run a report so i have selected tampa st petersburg and once i have that market selected i can
29:22then come down and run my report next step is to select your category um it's going to default to
29:29market totals which just gives you an overview for the tampa st pete market in this case um i want to
29:35show you an actual example so i'll come down here to uh how about furniture sales once i select a
29:42category you're going to see this little orange yellow box pop up gives you a definition of what's
29:47included so furniture or sorry businesses that sell furniture draperies and upholstery and miscellaneous
29:53home furnishings then i can select my base year normally the base year defaults to one year however
30:01we all know that 2020 was the weirdest year ever and um it doesn't give you a really good understanding
30:08for what the base looked like because advertisers a lot of them stop spending or they cut way back and
30:14so it's just not a good accurate picture um it can be but it's just going to make you it's going to
30:20make things look like the spend has increased significantly right so let's take a look at 2019
30:26and then for forecast or backcast you can backcast as far as 2015 or forecast out as far as 2025.
30:35most of the time if you're dealing with local smbs you probably just want to do a year to two years out
30:39um and then generate report it's that simple you'll see this uh contact compass support that's on every
30:46page again if you get stuck in here you can't break anything in compass so feel free to email
30:52us if you need anything if you say hey am i reading this right or i'm talking with a client later this
30:57week i need some more information on this category let us know we're happy to help
31:00okay so now that my report has run you can see all the counties that's included in my footprint that
31:07i selected which was the tampa st petersburg and then furniture sales was the category i selected
31:13you have the option here to click on this generate full compass report pdf i personally don't love it
31:19it's just a big ugly pdf with everything jammed into it i like to navigate around and look for what i
31:25want to tell my story or to um you know dialogue with a client so first things first this is the
31:31overview so once you've generated the report you're really going to navigate on the left hand side
31:35okay so here's your overview of furniture sales this is how you read it okay your spending category you
31:41have ad spending for outside and inside the market so when i look at this i can see okay furniture
31:49stores the category is spending 108 million dollars okay these are in millions look for this little
31:56notation 108 million dollars locally in tampa st pete just for furniture sales alone okay outside of the
32:07market businesses these are people businesses that do not have a physical footprint in tampa but
32:13they're spending in tampa to try to get them to buy elsewhere right to maybe it's wayfair.com
32:19maybe it's a furniture store that's the next market over that's you know within driving distance
32:24there's another 22.4 million there so in total for the category there's 131 million dollars
32:32now you also notice non-ad spending you may be going okay what is non-ad spending there's a heck of
32:36a lot of dollars there non-ad spending if i click on this this will give you a breakdown
32:42this is ad production okay market research promotions public relations sales materials
32:48these are all things that businesses are spending money on but it's not advertising however it gives
32:53you a good understanding of the category and you have that information available to you through compass
32:58you also notice that promotions is really big okay and because it's so large we do break that out
33:04in its own category so when you select current year that's going to be the base year that you generate
33:10your report for so i'm going to select forecast year which we selected 2021 for our forecast
33:17so here's what's included in promotions coupons samples specialty printing uh sponsorships and so on
33:24discounts is really big um this is going to vary depending on the category this one again is specifically
33:31for furniture so you can sort this income is and discounts is 197 million dollars okay so how you
33:40might use this information with a client may look like you know just having a conversation and saying hey
33:45mr business owner looks like your category spends a lot of effort in discounts i'm curious what you do in
33:52your store is it driven by the manufacturer is it driven by co-op and it just again positions you
33:59as a marketing expert so think about it like this if a furniture store dealer has a surplus amount of
34:07a certain type of product maybe it's sofas and they're trying to drive store foot traffic or online
34:14traffic maybe they reduce the prices greatly to increase the traffic so they're discounting it that's
34:20where those dollars are accounted for okay now i kind of jumped over to promotions but let me go back
34:26up here to advertising to give you a more accurate walkthrough of everything i jumped to promotions
34:31which is separate than advertising so your spend overview again there's outside and inside your
34:38current year was 2019 the base you also have the option to compare to average so you can say okay
34:44what do furniture stores in st pete compare to the rest of the u.s okay so this gives you the u.s national
34:52average and what the market looks like for tampa state pete so cable tv spends a little more in
34:59tampa does that make sense um let's see local tv spends a little bit more newspaper spends a tad bit
35:05more um other print spends a tad bit more you can see how that what that looks like you can see online
35:10ad spending there's your different online channels let me jump over here to forecast here here's your
35:16different media channels so furniture stores um let's see we can say okay what do they spend on
35:23newspaper outside the market is 2.8 million dollars inside is 8.2 you can sort these and go what's the
35:29number one um spending area for furniture ding ding ding online no surprise right most businesses are
35:37spending close to 50 some categories are much much more if you think about automotive most of the automotive
35:43market and each market varies um but it's pushing 70 so it's going to depend on whatever business
35:50category you select so 56.3 million dollars is going to digital okay in this tampa st p market
36:00other print is the number two area so this is again the magazine bucket newspaper so on there's radio at
36:066.9 you can then click on this online ad spending so this is all media and then here's digital
36:14you guys are the digital folks here's your stuff right here for furniture who's calling on furniture
36:19clients this week you have some good information at your fingertips right now 2021 online ad spending
36:26summary so you have audio there's your video that includes ott display targeted ros uh paid search
36:34let's sort these and see where's the number one spending area for furniture stores with digital
36:38paid search no surprise right 29 display targeted video look at this look at the share that's a huge
36:46share email a little bit okay ros no surprise there's not as much spending there they can't control how
36:53they target so much with ros um so here's how you might use this information with a client mr business
37:01owner i was looking at um you know how furniture stores are spending specifically in online for your
37:07category and i'm curious what your current strategies are are you spending would you say you're spending
37:12the most in page search that's what we're seeing you can also come down here and see how it's changing
37:17okay so you can see the total change ros there's the biggest decline okay you're going to see what's
37:25growing the most video probably no surprise to many of you display targeted now i want to take you a
37:33step further i talked very very briefly about the spending worksheet if you scroll on down here
37:39under tools if you guys are sellers on the line this is where you want to pay attention so if you're
37:45checking your email or you're you're sidetracked or distracted pay attention because this is what
37:50you'll want to access in compass this is where 90 of sellers spend their time is under tools and
37:57spending worksheet okay so i'm in the spending worksheet for the tampa state peat market for furniture
38:04category i can look at this and see that there are close to 12 000 employees in the market okay that
38:13work at furniture stores the average number of employees per location is only six so to put it in
38:18perspective you're probably going to be calling on clients that are in the medium to larger size you're
38:24not calling on the small teeny tiny furniture stores that have you know six employees because frankly they
38:30they don't have an ad budget and it's a waste of your time you need to be going after bigger
38:34opportunities so let's say the client you're calling on has um i don't know maybe 150 employees
38:42maybe they have a couple different locations so here's where you're going to plug in the number
38:46of employees if you remember the script scenario that i gave you where you can ask you know client how
38:53many employees they have that's where you put it in so when i put that number in i can scroll down here
38:58to the bottom and there's my total ad budget okay let that sink in for just a second a furniture
39:06store with 150 employees on average in the tampa state paint market spends on average one point close
39:14to four 1.4 million dollars a year on advertising okay that does not include digital services this is just
39:22strictly advertising so you can sort this and here's what you want to do remember i'm trying
39:29to use this information to have a conversation with a client or potential prospect so i might say
39:35mr business owner i did some research on your category the furniture store category here in the
39:40tampa state and pete market you mentioned you had about 150 employees it looks like a business of your
39:46size and in the market is spending close to 1.4 million dollars a year on advertising how does
39:51that compare to you okay and ask it just like that you're you're you're leaving room for the client to
40:00give you some feedback it's all about engaging them okay the client may say um you know that looks high
40:08it looks low it looks way off where the hell did you get that information whatever the case is
40:14what you want to find out is how far off is it okay because it's average let's say
40:21the client says well we only spend half that well do the math real quick what's half of 1.4
40:26seven hundred thousand dollars a year so there you go you just found out his budget is seven
40:32hundred thousand okay so then i might say mr business owner the number one area of spending
40:37for furniture stores here in the market is online close to about 44 percent of the budget would you
40:43agree with that or what does your digital strategy look like currently let me say yeah that's that's
40:49pretty much right on we're looking to be a little more aggressive with digital as we move into later
40:54this year then if you scroll down here to the bottom guys you can see um the different digital
41:01channels okay and what the spend looks like for each of these and also what's changing what's growing
41:08okay again video you may even have a conversation with the client mr business owner looks like video
41:14is a category of growth for furniture stores i'm curious are you currently doing anything with video
41:19strategy that's something we can certainly talk about i'd be happy to bring some ideas back
41:24out to you next week go ahead and secure that next appointment okay that's what you want to do
41:28this first appointment where you're trying to get their own attention and engagement is not about
41:32making the recommendations right you're trying to line things up to do that you then can go through
41:37here and say it looks like the number two area is newspaper i'm curious do you currently do any
41:41newspaper advertising again this is just average for the market you may say um you know we're just
41:48really not happy with their newspaper campaign currently or i really hate my rep he doesn't know what
41:52he's doing it's not making it work for me say well you know what i've got some ideas i'd be happy to
41:57maybe you know reallocate um you know some of the strategy there would you be open to that again
42:02securing that next appointment so um hopefully this is ringing a bell with some of you or a good
42:09refresher for some of you if you're seeing this maybe you haven't seen the spending worksheet in a while
42:15but this is something where sellers do spend a lot of the time and by the way a lot of these different
42:20charts that you see in compass you can export these so if you click on these little three lines
42:25you can download the image also if you say okay this chart is a little funky taran i don't even
42:30think telemarketing is relevant if you click on it it'll remove it from the chart the shares stay the
42:35same um or cinema who the heck's advertising on cinema anymore remove it okay and maybe you just want
42:42to tell the story that way okay so then you can pull that into a presentation um one thing to keep in
42:48mind is that compass is used by researchers analysts media folks like yourself but it's used for a lot
42:54of different things and so it's not um super client facing and by the way never walk a client through
42:59compass you will get so far in the weeds and you'll lose the conversation there's too much here
43:04so use what you want from it um some other sellers that i that i've talked with they'll even use this
43:10digital piece here to go back and kind of reinforce um camp as they're going over maybe campaign
43:16performance details they'll show a client you know by the way i did some research on your
43:21category and it looks like everything we're doing is really in line with what the market's doing
43:25and just kind of you know helps reaffirm the campaign if you will so that again is under the
43:31tools um i don't think we've had any questions pop up so either i'm doing a really good job or you guys
43:38already know your stuff um let's see outside of compass there are two workbooks that i wanted to
43:46go over very quickly and they are the handout maker and the spending or sorry the strategy tool
43:53the reason i want to go over these is because um actually these are available to to you guys through
43:58compass and actually let me show you this real quick they're under the resource tab
44:02okay the handout download strategic workbook these are basically excel documents these are
44:09templated workbooks where you can populate with your markets information okay and it just gives you
44:14another view of the compass data so in this case here's the handout maker if i'm a seller and i'm in
44:21tampa st pete i can come in here and select my category let's say it's um let's pick a different
44:28category for example here's hvac and i want to see what the breakdown looks like you can use also
44:35use these with a client maybe this is used as a one-sheeter or you pull some of the charts into your
44:40own branded presentation so you can see okay there's 269 hvac businesses in the tampa st pete market
44:49this is what they're spending in total 18.6 million dollars in advertising um you also have the
44:56the ability to come down here and put in the size of business that they have so if it's 75 employees
45:02it gives you the breakdown however it does not give you the breakdown for the different channels
45:09it's just the total um and then there's these different handouts that have the information
45:15broken out in a couple different views for you so you can go in with armed with your client with
45:20information about their category um handout three is digital okay so you can see what's cutting what's
45:27growing okay so that might be a good one to put in the presentation um and then there's also the
45:33business category definition so pretty straightforward the handout maker is really meant for sellers
45:39and then we have um the strategy tool this is more of an overview of the market so for st pete
45:46this is looking at 2019 comparing to 2021 you can see online was 55.7 percent share of the market that's
45:55grown our forecast is close to 64 percent that's an increase of 15 percent um roughly on of change
46:04for 8.2 sharepoint change you can scroll down and look at the different things that's going on
46:09um and then you have your ad summary your ad summary gives you information on what's going on
46:17by um media channels so you can see what's decreasing what's increasing so um direct mail in 2019 spent
46:26eight million dollars in furniture okay furniture spent that much i'm sorry look how much it's cutting back
46:32seven hundred and twenty one thousand dollars so you can also use this sheet to be very strategic to
46:37target maybe um competing media channels or you say okay let's look on the digital side and see what's
46:43growing the most what categories are growing in targeted display automotive sales 2019 spent 24.3 million
46:53in 2021 we're forecasting that to increase to 29.7 million that's an increase of 5.3 so i'm sure you
47:00guys have a really strong strategy against some of these bigger categories what about financial
47:05services what about pharmacies or credit mortgage services there's probably some categories that you
47:11may not necessarily be targeting right now okay so i'd encourage you to look at that looks like we have
47:16a question in the chat here the handout maker is still 2019 data when is it anticipated um so the reason
47:23why it's 2019 data is because that's how i generated my report i was looking at comparing
47:29it to 2019 now if you wanted the data to reflect last year's spending again last year was kind of a
47:36funny year you can then populate excuse me the workbook with 2020 data compared to what the forecast
47:42will be for this year but a lot of times um folks that i'm working with are going okay let's look at
47:482019 because it just gives you a little bit more accurate view that's all um but yes you can make 2020
47:55that base for sure good question um moving on these different tabs as you tab through the sheet
48:03there's um a channel index so you can go to any different media you'd like if you want to take a
48:09look at radio specifically or magazine out of home if you want to kind of put together a competitive
48:15strategy against the billboard companies in your market you can scroll down to the bottom of this sheet
48:22and it will give you the top spending business categories um in 2019 and then the top forecasted
48:30spend for 2021 okay so you've got eating and drinking places there's a restaurants credit
48:36mortgage services furniture sales and you can see what the spend looks like okay you can see the total
48:42spend compared to 2019 is actually down for some of the categories um and it's just going to vary
48:49this is out of home but what if we went over to online right that's what you guys are probably most
48:55concerned with or radio um online total or you can look at just just paid search or audio or video
49:04let's do the total all right so i'm an online total you can look at the total categories and you can sort
49:10this okay so largest to smallest i'm going to sort that and here's the top spending categories
49:16in online okay real estate services 117 million dollars automotive sales again maybe you're already
49:26targeting some of these big categories but what about the categories below here what about legal
49:31services or sports clubs what are they spending okay look at that their spend has increased almost seven
49:37percent 14.3 million it's gone up to 17 million
49:41or again you can come over and go okay what about targeted display what's growing there you get the
49:48idea so the strategy tool is really valuable um if you're interested ashley if i need to get those over
49:54to you i certainly can i'll have my team get them to you um or if you have folks on your end that can
50:00populate them the steps are actually in the documents but i know sometimes it can be a little cumbersome so
50:05we can shoot those over to you guys as well um we're coming up on time here in just a couple minutes so
50:10i'm going to kind of take a pause here and open the floor up for any questions that there might be
50:18anyone
50:24Taryn i think i just think you did such a great job so everyone doesn't have any questions
50:31is there anyone on here that's seeing compass for the first time and is just completely overwhelmed and
50:36you have no idea what i'm talking about today i have a couple questions um this is um hi Taryn
50:44thanks for your time i'm one of the regional directors um so i oversee the team in the south
50:50region um sales wise for for our digital direct squad um so actually a couple things you mentioned
50:57some logins getting everybody some okay so that was some questions that came to me um so everybody
51:03will be getting access yeah so i'm going to work with Taryn today on giving all the credentials
51:11over so we can get access um but but one thing also on academy i'm also going to send you guys
51:17an email because we have the workbooks already on academy organized by market the only thing i'm not sure
51:26if it's 2019 data or 2020 i have to look at that but that's already there so and then the worksheet
51:32the worksheet makers are in there too okay perfect um Taryn if we need like one-offs in a market here
51:39there is there a way that we can um request that kind of on a on a one-off absolutely well um i do
51:45that a lot for folks and i'm happy to do that um for you guys as well i had connected with ashley like
51:51she said we did um a training with the team last month and i would just reach out and said hey you
51:56know if i need to be a resource happy to do so you guys subscribe to the compass data and our services
52:02for all of the markets so if you just want to have you know kind of a further breakdown as a smaller
52:07group and kind of dive into stuff specifically we can certainly do that and get something scheduled
52:11for you okay thank you you bet i hope this was helpful any other questions looks like maybe there's a
52:17couple in the chat let's see um i've seen compass before but never such a thorough overview a little
52:23overwhelming super awesome thank you you're you know it is um i try to go a little slow i know there's
52:31a lot there um but here's what i'll tell you again from the perspective of being in your shoes before and
52:38selling guys if i had access to this i would have sold so much more and it really just positions you
52:44as an expert in the market because you're not just talking about your own media and you have a lot of
52:49leverage there um the other thing i would encourage you is i know you have a lot going on don't feel
52:56like you have to spend all the time in the world on compass and become an expert at it before you use
53:00it don't do that okay don't don't don't tell yourself that lie log in follow the simple steps
53:08that i put in that sheet and look at your business category and try it out try it out on a
53:13couple clients that you already have a pretty solid relationship with if you want to if that
53:17makes you feel more comfortable and say hey my company's invested in this research i wanted to
53:22show you what's going on for your category i thought you might find this really interesting
53:25so just begin to use it i think it'll open up a lot of opportunities for you
53:32anything else
53:35i think that's it taryn i really appreciate you doing this guys um this is recorded so i'm going to post
53:41it tomorrow on the digital direct page on academy so look for it there and then i'll also send you
53:48guys an email tomorrow with all the workbooks and then you guys should receive your logins coming soon
53:54and just a note on that too ashley um for those of you that will be receiving compass logins
53:59they will come directly from compass support and sometimes they do get hung up in your junk folder so
54:06if you don't see anything you're expecting a login in the next couple days just check there
54:10um and because it may be overlooked but um i really appreciate everyone's time today thanks
54:16for hanging out with me i hope this was helpful and again any of you that want to connect directly or
54:22set up you know further training for your team just reach out to me and i'll send this deck over to
54:26ashley so you've got my contact information and the slides awesome thank you so much
54:31thanks everybody bye bye bye bye thank you thank you you're welcome