Your Most Valuable ‘Customers’

 

Your Most Valuable ‘Customers’
Most businesses define a ‘customer’ as someone who spends money with the company. At ENS media Inc., we define a customer as anyone who has impact or influence on the spending with the company. And media companies have three distinct customer groups under our definition.
Audience is our largest customer group. Even though they never spend a nickel on our stations, the size and demographics of our audiences certainly impacts what our second largest customer group; advertisers, is willing to spend with us.
And the most successful stations certainly pursue audiences and advertisers with vigor.
But our most valuable customer is our internal customer…..our staff. Each and every one on your staff, from your traffic manager to your front desk, and from the account executives to your producer, have enormous impact on what advertisers are prepared to invest with your station.
Why do I describe your staff as ‘your most valuable customer group?’ It’s simple. Do the math; divide your total annual revenue by your total audience, and you’ll find the value of your average listener/viewer. Dividing that same annual revenue figure by your total number of advertisers, will also tell you the value of your average client.
But when you divide your total annual revenue by your total staff, you quickly discover your average staff member is more valuable than your average advertiser, and in most cases, even more valuable than your largest advertiser!
You undoubtedly have a marketing plan to attract and maintain an audience, and you certainly have a marketing plan to attract and maintain your advertisers. But do you pursue your marketing plan to attract and maintain your staff with the same vigor that you pursue the other two less valuable customer groups?
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