Faster Revenue At The Seller Level


(By Loyd Ford) Radio is an immediate business. We can sell advertising and put it on the air almost, if not, immediately. This also has a tendency to make those in our business focused on immediate ways to generate revenue. That brings us to today after months and months of challenges for local radio and local sellers.

How do we encourage more immediate revenue generation?

  • Focus on bringing concepts to advertisers. Engage their passion and compel them to spend money now to avoid losing ‘this opportunity.’ Too often we are sitting in front of potential clients with numbers and no new ideas. More sales come from new concepts, ideas that move them beyond only pure numbers today. In no way am I taking anything away from numbers. We all know that higher ratings equal higher revenue, but getting in front of potential clients with unique and special ideas that can work for their product can be lethal in securing more dollars rapidly.
  • Think real estate. In other words, try to bring ideas that involve exclusive or perceived exclusivity of category for your potential client. When clients get jealous, their passion is stoked. Call it FOMO (fear of missing out) or FOCGTF (fear of competitors getting there first), but smart business people like to ‘own’ real estate. If you can give them something that seems or is exclusive to their category on-air, in your digital and/or social or podcasting, you can come up a big winner with new revenue and even keep clients on longer.
  • Create a depth of three. Focus on your client list and see where existing clients might could add to their spending. Why should you do this? 1. Your existing clients are the ones most likely to give you more business. 2. Adding to the depth of your current relationship with existing customers has another powerful benefit. If you’ve heard me talk at a live event about Brian Moynihan, who is the Chairman of the Board and Chief Executive Officer at Bank Of America, you know he talks about getting bank clients to use at least three (3) different services of BOA. It is his theory that adding depth of relationship can reach a point where “the customers will never leave.” Your most rapid potential to add to revenue could also help you keep your existing relationships steady customers for years to come. That’s immediate revenue you can love.

What are you doing to create immediate impact on new revenue for your local cluster? Brainstorming and replacing the words “I can’t” with the question “How can we ____?” will help you score big going into 2022.

Loyd Ford is a branding + strategic programming consultant for Rainmaker Pathway Consulting Works. Loyd Ford can be reached at 864.448.4169 or [email protected].


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