Do you do digital?
According to the recently released RAB-Borrell Benchmarking report, as 2017 gets underway, digital advertising has become the predominant form of local advertising. Local businesses now spend more on digital media than on all other forms of media combined. This chart shows the trend in digital spending over the last several years.
Source: Jeff Schmidt, RAB
It’s not an “us versus them” situation, however. In fact, according the Borrell, traditional media companies (newspapers, TV and radio stations, cable companies, etc.) were responsible for more than $12 billion in digital sales last year, or nearly one-fifth of all locally spent digital advertising.
Radio sellers have relationships with local clients who trust them. These relationships are important to leverage the power of an integrated marketing strategy. When Borrell asked radio managers what is the most important ingredient to capturing more digital revenue, the answer was “training.”
Our advice? Don’t just learn it, live it. Immerse yourself in new technology. Use the various new platforms that are attractive to local advertisers. This way, you can talk intelligently about the platforms with your prospects and clients.
At this year’s NAB Show in Las Vegas on Monday, April 24, there will be a Digital Strategies Exchange for Radio. We at the RAB are pleased to participate with a session called, “Making Money With Digital.” Find out more at www.NABshow.com.
Jeff Schmidt is the SVP of Professional Development for the Radio Advertising Bureau. You can reach him at email@example.com.