We’re not going to make radio a growth industry again by simply going after younger listeners.
That, too – but a much different approach is called for.
Let’s be honest, young people have found other devices to use for on-demand content. Our audience is aging.
We’re not going to turn a smartphone into a radio as much as we may want to because phones make lousy radios and radio is not what it used to be compared to even ten years ago.
What we should be doing is super serve the available audience and then work as concerned partners with advertisers.
Test commercials for advertisers to make them more effective.
If they are more effective, you will increase the spend and get your price. No media buyer can interrupt this process because nothing succeeds like success.
Most radio stations don’t even follow up on flights. They just try to sell something else which is why the rates reflect the commodity that radio has become.
Programmatic buying is coming to radio in essence breaking the relationship selling cycle and allowing media buyers to bid on advertising the way they do for online ads.
The fastest way to increase station billing is to get a higher spend out of a handful of key advertisers by delivering results that are palpable.
Radio has a lot of good years left even without new audience growth if it learns to super serve its available audience and help advertisers convey commercial messages more effectively.
In fact, there can be revenue growth.
Notice I haven’t mentioned streaming because streaming doesn’t really contribute significant revenue to a station’s bottom line.
This is what I want to get into:
- Creating a new partnership with advertisers by helping them help you. No more selling spots. Let iHeart and Cumulus do the automated selling for now. If radio ads reach consumers and ring the cash register of advertisers, you grow.
- Developing on-air content that is so consistent and desirable that audiences crave it. Sounds good but what are the trigger points to make the most popular demographics crave station content.
- Creating stations where listeners want to identify themselves with your station. If you talk to some of the radio pros who programmed stations in the 60’s and 70’s, they will tell you their audiences identified themselves by what the station stood for. Now, do you ever hear anyone say “I love W-whatever because of iHeartRadio?” But WMMS in Cleveland, WMMR in Philly and KMET in Los Angeles were a few stations where the station was the embodiment of the programming not the owner.
- And how to do all of this without breaking the bank in a new cost-conscious age of radio. Actually, there’s a new way to look at cost effectiveness.
Make radio grow again.
Here is the curriculum for the 2015 Media Solutions Conference along with a link to reserve a seat:
- Disrupt Radio and Reimagine It
Blow it up without losing your loyal fans. Gain audience by attacking all the things digital age listeners hate about radio before a digital competitor does. Study the plan to drastically alter and destroy the old structure the way Apple, Google, Facebook, Twitter, Instagram, SnapChat and Netflix did. Innovate the next radio creating new revenue streams and solving virtually every objection digital-age listeners have about radio.
- Master Digital
Learn what works and what’s in the pipeline. Some 95% of all broadcast digital projects do not make enough money to warrant their continuation. But focus on a handful of digital homeruns that are available to you.
- Protect Yourself Against Competitors Who Drop Their Rates
You can have the best programming, ratings and salespeople and still wind up posting no revenue growth. The outbreak of rate cutting in 2014 will continue into the New Year but there are strategies to avoid becoming the victim of a competitor’s incompetence.
- Reverse The Decline in Time Spent Listening
We will brainstorm on proven ways to stem the decline. In fact, many radio stations are shooting themselves in the foot when it comes to time spent listening. And Nielsen confirms that simply making sure you don’t play commercials for 5 minutes in each quarter hour doesn’t assure TSL growth. Take a look at some fascinating ways to help yourself keep audiences listening longer.
- Engage 100 Million New Listeners
The oldest Millennial is now 32 and well into the money demo range. Most stations have been struggling to make them regular radio listeners. But I have 5 things you can do right now that young listeners will like – no, not like – love. And older listeners respond favorably to these moves as well. You’ll leave with it. And remind me to tell you about the generation after Millennials who are so into YouTube, before long you’ll have to be prepared with new ways to engage them.
- New Content Businesses Ripe for Radio
All of a sudden podcasting is popping up everywhere but is podcasting a good use of your time and money? There is increasing evidence that podcasts detract from radio listening so there’s that, too. But video – short-form video – is instant money and I’ll give you a short course on how to make some. I’m going to do it – right on my iPhone 6 Plus and you can, too. Let me show you.
Now that’s a media conference worth attending.
A one-day seminar presented by Jerry Del Colliano March 18, 2015 at The Hub in Philadelphia 5 minutes from Amtrak’s 30th Street Station and 20 minutes from Philly International.
Reserve a seat