||What Happened In Vegas
The NAB Show in Las Vegas this week offered several presentations on how to grow radio's digital revenue. Here are highlights from just a few of the sessions.
Mike Henry, CEO of Paragon Media Strategies, a multi-media consulting firm, suggests stations tear up the old budget and create a new budget with different line items for both expenses and revenue. Include on-air, digital platforms and live events, and NTR.
Patrick Osburn, VP/Director of Sales, Radio San Diego, detailed a case study of his stations' concert series. Programming wanted to do the concerts. Patrick added sponsorship opportunities. Over 20 venues were sold a participation fee for the opportunity to host one of the concerts. An auto dealer was sold to have the opportunity to display a vehicle. A sponsorship including mentions and signage was sold to a beverage brand. A solar company was sold to display their products in an experiential opportunity. Tickets were free, but were available only to their registered loyal listeners, which drove increases in the stations' databases, and the tickets had to be picked up from a sponsors' retail location. Their creative selling of the series that the stations were going to do anyway generated six-figures in new revenue. Patrick's advice: Don't let anything go by unsold, especially if Programming is going to do it anyway.
Bob Proffitt, President and COO, Alpha Broadcasting, explained how his Portland, OR, stations are selling Interactive. He recommends selling keywords and microsites, mobile Apps, QR codes as an upsell to their half-off program (see more about QR coes in RST 4/9/11), and geo-targeted banner ads. Bob also pointed out that his stations are generating revenue from non-traditional advertisers with auctions. (If you need turnkey auction software for your stations, learn more about RAB's ezAuction software. Contact RAB Member Response.)
Danno Wolkoff, President and CEO of Envision Radio Networks, presented the opportunities of hyperlocal. Hyperlocal refers to websites that serve neighborhoods and communities. Much of the specific community content may be repurposed from what a station displays on its website with some additional neighborhood content. Hyperlocal sites may be geographic, or they could be designed for a "behavioral community," a group of users that have a specific interest. Danno points out that Fisher Communications has launched over 100 hyperlocal sites. They have a staff of six people generating the local stories. MSNBC has launched a number of hyperlocal sites in the top 11 US cities. WUSA in Washington, DC, has 53 community-focused hyperlocal sites. Danno recommended you follow these sales steps for each of you hyperlocal sites:
Danno said a community of 20,000 to 30,000 population can conservatively generate $145,000 per year and sales ramp-up time is minimal once your site is functional.
- Create 12 sales packages for the year. A new package each month.
- Budget on signing $1,000 per month.
- Sign clients up for yearly contracts.
- Offer on-air upgrades with a special sales package.
- Get clients on recurrent billing.
Daniel Anstandig, President of McVay New Media, gave simple steps for increasing digital revenue:
Jennifer Williams, Director of Interactive Media at Greater Media, says digital success starts with education. Your salespeople must know the fundamentals of digital sales. Your digital team must be included in sales meetings. Digital sales managers must be in control of digital pricing. Look for new sources of revenue well beyond the radio advertising budgets. Make sure you know what clients' expectations are before you begin to put together a campaign. Remember to develop strategy before tactics.
- Pitch digital; legitimate digital integrated campaigns. Don't just trade radio dollars.
- Prospect for advertisers who may buy digital, but not necessarily radio. Use all the digital tools available to you, like LinkedIn and Twello.
- Get creative and get to know your digital department.
- Stay on top of trends. Subscribe to the digital newsletters, many of which are free.
Brian Bartolo, Director of Sales at Emmis Interactive, shared several ideas, including one using metrics to increase sales. A station conducted an on-air and online contest for Amtrak called "Home for the Holidays." The prize was an Amtrak trip to the winner's home. Listeners registered and noted what Amtrak city was home. The stations recapped the campaign for Amtrak showing that people registered after 3pm and Amtrak wasn't on the air after 3pm, so the station was able to get the client to expand its ad schedule to include afternoons and evenings.
Lee Grau, General Sales Manager, Interactive sales manager and event sales manager at Beasely Broadcasting in Las Vegas, outlined the many digital products his stations are selling. How's this for a list?
If you missed the NAB Show, hope you will join us for the Radio Show in Chicago, September 14-16 for even more money-making ideas. See details at www.radioshowweb.
- Listen Live
- Email Blasts
- Listener Clubs
- Page Views
- Interactive Departments
- Interactive Budgets
- Pre rolls
- Custom integrated programs
- Cross platforms
- Converged assets
- Share increase
- Ask the Experts
- Custom Games
- Half-Priced Deals
- Synced streaming banners
- Ad insertion
- Video player
- Real-time stats
- Interactive budget
- iPhone app
- Social Networking
- Texting databases
- Rich media
- Pencil ads
- Curtain ads
- Splash pages
- Expandable banners
- Message boards
- Personality blogs
- RSS Feeds
- Interactive budgets
(Source: John Potter, VP/Training, Radio Advertising Bureau, 04/14/11)
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Retail Marketing: In-Store Campaigns That Sell
Retail campaigns are now a mainstay of client-integrated marketing programs. From mass merchandisers to supermarkets to convenience stores to general retail, in-store events are expected to be a key element of a brand's overall marketing strategy.
Join RAB's Brandeis C. Hall for this informative webinar, as she provides insight into the types of campaigns retailers want, who the decision-makers are, and how your station can get the sale.
This presentation is scheduled for Tuesday, April 26, at 3 PM (Central). For more details and registration information, click here.