There it was, right in the middle of his desk, a stack of e-mails, faxes and printouts. The AE says to me, Look at all those cancellations. My stack is bigger than any of the others. There's nothing I can do. It's so frustrating.
It's ok to be upset. It's called Grief, as in, I've lost someone near and dear to my heart - my Income. However gazing at that stack just re-affirms their existence - and produces two nasty results. First it keeps the word CANCELLATION!! very prominent in your mind producing the expectation that there are even more on the way. Secondly, it slows ACTION, which is the primary sales antidote in a ka-ka economy. Believe it or not, those cancellations might be worth more than you think. The first answer is DO something. Consider:
Cancellations are an Excellent Prospect List.
Picture the stack as a potential goldmine. If each has already been on the air - that means they're your most qualified potential advertisers. Idea: If they were good customers, let's keep treating them that way. That relationship is so valuable. You worked hard to build that relationship with them - so don't let it slip away. Here's a checklist of questions for you to consider:
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How often have I been in contact with them since the cancellation?
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Have I called, visited, e-mailed? How are you guys doing? I know your ad budget is on hold right now, but is there anything else we can be doing for you?
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Your decision maker, already a good client, might jump to another company overnight. If there were a change in conditions, ownership, etc, and other AEs had stayed in touch, who do you guess they would call first? Finally . . .
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ARE YOU ABSOLUTELY POSITIVE THAT THOSE CANCELLED ACCOUNTS ARE GONE FOREVER? SOME MIGHT HAVE CLOSED THEIR DOORS, BUT OTHERS, MIGHT BE IN A MEETING AT THIS VERY INSTANT, MAKING PLANS TO COME BACK.
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Like they say in the Lottery, You can't win if you don't play. Stay in touch with them.
Consider their Competitors
So, XYZ Motors cancelled. Go see ABC and DEF motors. Tell them how the playing field is mighty empty and by advertising now they'd have a hefty Share of Voice. They can spend less and sound bigger. The field has cleared.
Look at categories. Some advertisers are cancelling because of isolated business situations. If you have a cancellation from a jeweler - check around to see if it's one or the entire category.
Years ago there was a wonderful United Airlines television spot. Maybe you'll remember; the boss called everyone into the conference room to tell them that their largest customer had cancelled - basically from inattention. He handed out plane tickets and everyone was to call on the big accounts - for no other reason than to say, Hi we're here - we know you're there - how are things - what can we do to help?
Energy is the force which produces action, then when energy is no longer applied, it moves to Entropy, wherein the object slows down and eventually stops. That's what happens to accounts we neglect.
It's so easy to stay in touch today. Not just e-mails, but video e-mails. Get an on-air person to sit with you and say, Hi Joe. We really miss having you on K104, but wanted to let you know were ready to help. I'll be calling in a couple days to see how you're doing.
Likewise, if there ever was a time and place for testimonials and success stories - this is it. E-mails, especially video e-mails of happy clients work like a charm here. The succinct unspoken messages are Look what you're missing!! We're doing a great job for another client - and the most important message - We're very much in business, and as you can see, doing a great job for clients now.
If you've ever taken motorcycle lessons, you know the rule; look where you want to go - not where you don't. Imagine yourself making a turn at an intersection. They tell you to look around the corner and ignore the curb and the telephone pole. Look at the curb - and, K-Blam- that's where you'll go. The same is true here; concentrate on the desired positive outcome - not the cancellations.
