There’s a scary story out of Clear Channel recently.
Pandora is hurting them.
Yes, that Pandora – the one so many radio people just choose to ignore. Pandora has been methodically hiring former radio account executives to work their magic for them.
To make matters worse, Apple just recently did a major radio buy but skipped Clear Channel, which it considers a competitor because it owns and operates iHeartRadio.
And then there are two more developing circumstances.
Interest in buying radio advertising is down as the New Year begins.
And radio companies are shooting themselves in the foot by dropping their rates in a panicked attempt to close the gap.
Even though most radio groups remain in deep denial, the facts are what the facts are.
Clear Channel wouldn’t call for a 0.5% across the board cutback just two weeks after the budgets they approved for 2014 got rolling. But they did.
It’s bad out there and not going to perk up any time soon.
But there are strategies that can bolster your position in the market and increase share and it’s on the agenda for my March 26th Philly conference.
- Partner with Pandora. This may work for stations that are confident enough that they can continue to command the share of radio revenue they need, but instead of having Pandora walk in and pitch against you, you partner with them. Worth a call. Pandora will listen.
- Raise rates modestly but within weeks. Apple doesn’t allow consumers to walk in and say, “I’ll buy an iPad if you throw in a new iPhone”. End of discussion. But radio sellers increasingly are prostituting themselves by cutting their rates to match a desperate lesser market competitor and in effect saying “buy radio at this price and I’ll throw in my meaningless digital in order to get the price down”. Why doesn’t this industry get it? Fair price. Price integrity. No kitchen sinks thrown in.
- Never sell digital along with radio. Never. Ever. I’m planning to show you an alternative that allows you to get your radio rate and add to it by starting a second stream of revenue.
- If you have only one thing to sell on radio, the package that I am going to describe for you should be it. Most radio stations do it the other way around and miss this outstanding revenue opportunity.
- Ask me about the three ways to get a prospect to buy. You line up a proposal with three options on the page and the one you want them to pick is guess where? First, in the middle, or the last one. You just need to know which position to put the option you want them to choose. Proven to work. Start using it in your proposals now.
Just a few of the effective strategies worthy of your consideration that we will discuss face to face.
Here are the 7 critical things that will help you become a better broadcaster and/or digital entrepreneur at my March 26th Philly learning event.
- The most effective way to disrupt radio and not lose audience or advertisers. On the contrary, gain more money demos and more revenue.
- How to stop wasting money and people power on digital initiatives that don’t really increase your revenue. If there is only one digital project to undertake, this is the project that has money written all over it. I will share.
- How to create a social media network to replace Facebook, Twitter, Instagram, Snapchat or whatever whim is next in social media. The social network you are going to create can never be taken away from you and this one makes money in the first year.
- The 15-to-25 things that can transform an antiquated approach to radio to one that even the next generation can embrace. Let’s not fool around, here are the handful of things that work in today’s market.
- Go to school on a media entrepreneur who makes $3 million a year doing a 5-minute weekly video that has no commercials, no product placement, no banner ads on the site and doesn’t charge subscription fees. I’ll show you video and tell all about the plan.
- What if someone actually could breakdown the 4 to 6 things that Millennials want in their lives – in fact, that define their preferences for media. You’re going to get a checklist of things that you can use to make sure everything you do from now on attracts Millennials.
- How to time shift radio and develop strategies to make radio more like Netflix, the popular aggregator of content that all generations love. I’m here to tell you, radio can play by the same rules. There is a Netflix model for radio. Understand it and run with it.
I’m putting ample time aside or questions and hitchhiking on good ideas.
More FM (formerly B-101), Philadelphia owner Jerry Lee is on the faculty to talk about how he out bills every competitor year after year with digital, Pandora and you name it in his face. He owns one powerful station and is willing to share.
Sean Hannity will be live with Michael Harrison, the recognized expert on radio and talk radio.
This event will not be available by stream or video – only live and in person.
I can’t wait to share my enthusiasm and knowledge with you in person.
Reserve a seat
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Complimentary breakfast/check-in starts at 8 am.
Session begins at 9 am at the beautiful Rittenhouse Hotel.
Buffet lunch and all breaks included.
Conference ends at 4 pm.
The Rittenhouse Hotel has one room left at our special conference rates for those arriving the night before who would like to stay on site.