(By Andy McNabb) With advertiser sales attribution to the very penny, there exists practical, precedented proof that our beloved radio industry can grow by billions, despite our industry’s seeming determination – despite years of inflation-adjusted, flat-lining revenue – to continue its course, without collective, corrective action.
This is an opportunity for the radio revenue model to hit the reset button, and ratchet radio’s revenue trajectory upward.
How? By giving advertisers what they tell us they want. Gordon Borrell’s studies repeatedly prove that our industry is collectively refusing to deliver.
What do advertisers want? In markets small and large, for advertisers local and national, give them 52 weeks of documented sales results, directly attributed to their media buy on each of our stations, driven by:
– over-arching marketing strategies (resulting in larger spend) focused on the client’s needs and opportunities – NOT station-focused presentations
– delineating the marketing systems, strategies, tactics, and tools to further monetize advertiser needs and opportunities
– going far beyond our industry’s typical presentations. Too often focused on one or more of rankers, reach reports, three spec spots and a schedule, another “me too” digital offering (not much unlike hundreds of other digital providers located within each station’s signal), plus a promotion thrown in for “added value.”
Right now, all stations have the ability to further capitalize on radio’s preemptive advantage in catalyzing pre-need, pre-search, pre-purchase consumer consciousness. Capture and track “Now” and “Future” buyer information for advertisers along the way, and deliver clients the dollars that come from your services in marketing to their consumers through their buyer journey: on-air, online, off-air.
There are those inside and outside our industry who have profitably executed attribution with documented sales results that justify advertisers spending more with them, rather than the competition. These approaches generate more revenue and profit per hour of preparation, prospecting, presenting, closing, and servicing than radio does today.
Why? Irrefutable evidence: the advertisers can count the dollars and cents generated from the marketing strategies driving the campaigns with each media company.
If one person can generate millions doing so, our industry can generate billions.
What could happen if those that have walked the talk paid it forward and freely shared how others can do so for themselves? I’m happy to freely share.
A former, two time station owner — and lifetime marketer — Andy McNabb delivers marketing systems, strategies, ad and sales tools for advertisers to generate documented 6/7/8/9 figure sales results, directly attributable to their radio buy. Email him at [email protected].
