Your Internal Marketing Plan
The radio station marketing model is unique, in that we have three distinctly different target customers. Most other businesses only target those who can spend money with them.
But in radio, we have three target groups that affect that ‘spend’. And we need a strategic marketing plan for each of those target customers.
One, of course, is our audience. Most stations do have promotional and marketing plans to attract and maintain audiences.
Our second target group is our paying customers…our advertisers. Most stations are fairly effective at reaching and influencing this group as well.
It is important to calculate the per capita value of each of your customers. If a station has annual revenue of $1 million with a listening audience of 50,000 people, then each listener is worth $20. Using that same revenue base and a total of 250 advertisers, each advertiser is worth an average of $4,000.
But it is our third target that is by far the most valuable per capita and yet we often have no marketing plan to attract, motivate and keep these customers. The third target is our internal customers; our staffs. If that same $1 million station has a staff of 20 who sell, create, administer and invoice the $1 million in revenue, then each staff member is worth an average of $50,000.
When the lights go off, your biggest assets go home!
Do you have a marketing plan to attract and create customer satisfaction for your most valuable customers…your internal customers?