(By Jeff McHugh) Busy media talent are dividing their time between on-air, social media, blog pages, website content, events, station concerts, and podcasts.
Is it all worth it? Consider which of those tasks are winners and which are losers by figuring out your return on investment. ROI is the measure of what you put into something in relation to what you get out of it.
Stations invest time and effort into marketing strategies without first asking, “What will we get out of this?” Not everything results in a measurable return, but most things do. Your biggest potential ROI for audience and revenue will be in on-air and digital, so that is where to invest most of your effort.
Your on-air product reaches the largest audience, but digital advertising revenue is now bigger than both radio and television. Social media is important for deepening your relationship with listeners, however, it generates little revenue and it is difficult to show a relationship to ratings.
Every show and station situation is different. Here is how your return on investment will typically rank from highest to lowest. Prioritize accordingly.
- On-air content (including interactive games)
2. Digital content (website and podcasts)
3. Social media
4. Television exposure (a stunt that gets you on local news)
5. Interactive contests – especially for prizes money cannot buy (backstage passes)
6. Large events (more than 5000 people, like major station concerts).
Jeff McHugh is known for developing remarkable talent for both morning and afternoon drive. He brings an uncommon mix of positivity, creativity, and strategy to the shows that he coaches. He is a member of the team at the Randy Lane Company.