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Opportunity

An Opportunity

In yesterday’s ENS on Sales, Social Confusion or Turnkey Solutions, we discussed your clients and prospects being overwhelmed by the number of media choices today. Several of our readers pointed out that I didn’t make it clear that including your digital offerings in your ‘turnkey solutions’ will make it easier for the client to buy! Sorry if I didn’t make that clear. Here is yesterday’s ENS on Sales in case you missed it.
Your clients and prospects have never been so overwhelmed by media choices!
          As of December 2010, there were more than 266 million websites fighting for the attention of internet users in your market! It makes the half dozen or so radio stations vying for your target audience seem pretty impressive.
          And who knows what the social media flavor of the week will be next week? In a few short months it’s changed from MySpace to Twitter, and from YouTube to Facebook. By the time you read this,the darling might be Foursquare, Flickr or Friendster.
          In the August 9 issue of Social Media Today; touted as publishing ‘the world’s best thinkers in social media’, the author said, “social media is a complex and evolving medium that many businesses struggle to figure out. Few find quantifiable success with it, many have failed, and most have yet to truly form a social media strategy”.
When a local business owner gets caught up in the hype of social media, they have more questions than answers;
  • Which social media do I participate in?
  • Where do I find the time?
  • Why would a follower find our post valuable?
  • Content is king, where do I get content?
  • Who will be our social media steward/evangelist?
  • How will I train them to handle the dialogue appropriately?
  • How often do I have to update my post?
  • What should I have on my profile page?
          Print is being killed by the internet and digital media platforms are evolving so rapidly that even the ‘experts’ can’t keep up.
          Familiar, proven and comfortable radio can be a safe haven for local advertisers who want to minimize risk and grow their business. Seriously, is there any web page or social media post that can influence as many local consumers in a single day as a 30 second commercial adjacent to your prime time news?
          Broadcast account executives who present turnkey 52-week solutions to shell shocked advertisers can make some serious dough.
          When you present a 52-week marketing plan complete with a well crafted strategy, schedule and regular creative changes, all the busy bewildered advertiser has to do is say “Book ‘em Danno”.
 
P.S. If you need help creating better turnkey solutions contact [email protected] to inquire about our Making Radio Tangible sales training

Social Confusion or Turnkey Solutions

Social Confusion or Turnkey Solutions

           Your clients and prospects have never been so overwhelmed by media choices!
          As of December 2010, there were more than 266 million websites fighting for the attention of internet users in your market! It makes the half dozen or so radio stations vying for your target audience seem pretty impressive.
          And who knows what the social media flavor of the week will be next week? In a few short months it’s changed from MySpace to Twitter, and from YouTube to Facebook. By the time you read this,the darling might be Foursquare, Flickr or Friendster.
          In the August 9 issue of Social Media Today; touted as publishing ‘the world’s best thinkers in social media’, the author said, “social media is a complex and evolving medium that many businesses struggle to figure out. Few find quantifiable success with it, many have failed, and most have yet to truly form a social media strategy”.
When a local business owner gets caught up in the hype of social media, they have more questions than answers;
  • Which social media do I participate in?
  • Where do I find the time?
  • Why would a follower find our post valuable?
  • Content is king, where do I get content?
  • Who will be our social media steward/evangelist?
  • How will I train them to handle the dialogue appropriately?
  • How often do I have to update my post?
  • What should I have on my profile page?
          Print is being killed by the internet and digital media platforms are evolving so rapidly that even the ‘experts’ can’t keep up.
          Familiar, proven and comfortable radio can be a safe haven for local advertisers who want to minimize risk and grow their business. Seriously, is there any web page or social media post that can influence as many local consumers in a single day as a 30 second commercial adjacent to your prime time news?
          Broadcast account executives who present turnkey 52-week solutions to shell shocked advertisers can make some serious dough.
          When you present a 52-week marketing plan complete with a well crafted strategy, schedule and regular creative changes, all the busy bewildered advertiser has to do is say “Book ‘em Danno”.
 
Randy’s ‘What If’

What if your sales team participated in our Making Radio Tangible live workshop to give them the tools they need to present turnkey solutions to your prospects? Interested?

What’s all the Talk about?

 

What’s All This Talk About ‘Value’?
 
          World renowned sales trainer, Jeffrey Gitomer, says the secret to selling against fierce competition is to “Differentiate with value or die with price.”
          You’ve heard the ‘sell on value’ story before, but what exactly is your ‘value’?
          Success coach Anthony Robbins often tells the story about a major shopping center that experienced a failure in their elevators.
          It was costing them thousands of dollars a minute in lost sales.
          The mall manager was panicking. She had called several service companies, but none of them seemed to be able to fix the problem.
          Finally, she called someone who was able to fix the problem in 60 seconds flat by simply pressing a few buttons…. Then he invoiced her a whopping $10,000 fee “for services rendered” !
          The outraged mall manager asked the service man “How can you charge $10,000 for pushing a couple of buttons and one minute’s work?”
          The service man replied by re-writing the invoice to say;
                   “Service charge for pressing buttons = $1.00
                   Investment for knowing which buttons to press = $9,999.00”
          Your clients can purchase quantifiable spots, space, reach and frequency, cost per point or cost per thousand from an ever growing list of cheaper suppliers today. It’s the marketing knowledge you bring to the table in your total value bundle that will separate you from your low-price competitors.
          Your only competitive advantage is to learn the latest best practices to increase your advertisers’ return on investment faster than your competitors.
 
 
Randy’s What If
What if you became one of our SoundADvice members and learned a new marketing best practice every week that you could deliver to your advertisers?

Something to Think About

 

Something to Think About
 
Is it fair to suggest the professional radio contest player who calls your station repeatedly is indicative of your average listener?
Is it realistic to say that the rabid fan who follows your announcer from remote to remote no matter what the advertiser is selling, mirrors your typical listener?
And who is to say the only thing different about the minority who agree to participate in ratings, diary or PPM, is that they will participate where the mainstream will not?
Is it reasonable to assume that your avid Facebook or Twitter follower shares the views of the average person not following you on social media?
I think time will tell the tale that ‘followers’ and those who click your ‘like’ button are unique from your real average audience in more ways than one. You should be ware of rewriting your business plan based strictly upon the thoughts of the vocal or online minority.
And your advertisers need to tread cautiously before they assume certain ‘groups’ are indicative of the norm or that ‘clicks’ equal success.
 

What’s Wrong with Us?

 

What’s Wrong With Us?
 
Why do those of us in media think packages always infer discounts?
The best marketers sell premium packages.
BMW’s ‘sports package’ for example, artfully takes the customer’s focus off of the vehicle’s base price (the equivalent of your base spot rate) and focuses on selling a total package that includes some items the customer wouldn’t normally buy, at a price considerably higher than the base vehicle price.
Sure, they ‘discount’ the sports accessories in the premium package, but that package consists of a list of options which few buyers would buy in total; and the sports package includes their highest margin products.
BMW’s average sale is always higher, not lower, and their profits are considerably higher selling premium packages.
Many of your prospects and customers don’t care as much about ‘spot rate’ or base price, as they do about the total monthly investment and what they receive in return. Most who do focus on spot rate have been ‘trained’ by us to do so. 
Packaging a spot campaign with low cost/high profit options like product placement, on-air contests, product sampling, online surveys, mobile, data base marketing, better creative, guest appearances, and more, can take the focus off of your spot rate and result in higher average sales and happier clients.
Your ‘package price’ should always be at least 10% higher than your A.M.I. (average monthly invoice). Average monthly invoice tells you what your market and your sales people perceive your station to be worth. A premium package that delivers more than just ‘spots’ can deliver sales higher than that average.