(By Marc Greenspan) We have always emphasized the value of knowing your market’s profile. Understanding and communicating the population composition to potential advertisers can help you position your audience as an essential part of an advertising buy. Plus, you can demonstrate your knowledge of the market and be a great resource to advertisers.
Right now, this knowledge is more valuable. Every year, Nielsen Audio updates the metro population estimates for all its radio markets. It goes beyond 6+ (or 12+ in diary markets) to also include your metro population by:
- Age cell
Each year, effective with the October or Fall survey period, Nielsen Audio implements updated population estimates in every radio market. Nielsen Audio population estimates are based on U.S. Census information and updated annually using a variety of local, state, and federal data. The estimates are released each year for the October or Fall survey and are projected to January 1 of the next year.
While valuable in all cases, this is especially valuable for those stations who have audiences that advertisers undervalue. For example, those stations that appeal to either the 55+ or ethnic portion of the population. While every market is unique, many markets will show growth in the 55+ portion of the population and its African American and Hispanic portions of the population.
So how does a wise sales rep take advantage of this knowledge?
First, you need to answer these three questions:
- What is the profile of my market?
- How has it changed from the previous survey?
- How can I use this information to my advantage?
Once these questions have been answered, decide how you are going to communicate this to advertisers. Decide which is more advantageous:
- The size of the different segments of the population
- The change from the previous year’s population estimates
This is a complicated issue, so don’t rely on a simple conversation to inform advertisers. Provide the details in a clear and effective way on a single sheet. This will make you look professional and help shape the story in a positive fashion.
This column is part of a series titled “Growing the Radio Pie.” To view past articles, visit The Ratings Experts at Research Director, Inc. online here.
Marc Greenspan is CEO and a founding partner of Research Director, Inc. He can be reached at 410-295-6619 x11 or by email at [email protected]. Research Director, Inc. offers consulting services to media companies to help them grow their audience/ratings and their revenue.