We’re waiting for the final 2016 revenue numbers, but most indications are that radio will be flat or down half a point.
This is not the first year and not the last for financial challenges.
Some of our large radio groups are paying the price by burning through cash flow and adding to their stifling debt.
But some radio groups and stations are dedicated to beating the unfavorable market conditions.
So what to do?
More resistance to rate cutting (although less is considered to be better than none). Failing to employ a digital strategy that actually makes significant money. Letting good salespeople get away and dumbing down on-air product. These are the things that consolidators are doing and look where it has gotten them.
Meanwhile digital is supposed to be radio’s lifeline but the average station does under $250,000 a year in real, true digital revenue – many far less.
But there are ways to guarantee a positive finish for 2017 up as much as 4% in radio revenue.
- Focus on 10 of your biggest and best advertisers by increasing the effectiveness of their ads so they will increase their spend and pay a premium rate. That alone redefines your revenue year. Let’s talk about the stations that are actually doing it at my Philly conference coming up in two months.
- Go after a handful of big local TV advertisers and present them with a tantalizing radio alternative. Get them to define what a successful campaign would be and then show them a plan that includes quality ads that you are willing to produce and test for effectiveness. Even if these big local TV spenders won’t give up all of their television budgets experience shows when presented with a compelling radio alternative, they find the money for radio.
- Then skip the digital projects that aren’t making big money and focus on short-form video that can generate revenue through both sponsorship and product placement. And even paid subscriptions. Young entrepreneurs are already generating more money than the average radio station from video. We’ll go to school on them.
Change the way you motivate sellers. Raise their commissions, reduce the “make work” radio has dumped on them that prevent additional sales. A plan to put them on the street selling 90% of the time. Ask me about how to inspire sellers in a way you’ve never seen before. It works.
This one-day seminar is not available on video, audio or stream.
Just in person April 5 at the Hub Conference Center in Philly 2 months from now.
Examine the 12 modules below that make up the curriculum here.
Inquire about group rates here
Here’s the Agenda:
Wednesday, April 5, 2017
REGISTRATION / COMPLMENTARY BREAKFAST
8:00 am Registration / Complimentary Breakfast
9:00 am Strategies To End Rampant Rate Cutting
Rebuilding Eroding Radio Audiences
The Morning Show of the Future
Eliminating the 3 Biggest Listener Objections to Radio
10:30 am Break/Complimentary Snacks and Refreshments
10:45 am Longer Listening
Dealing with Too Many Commercials
How to Program to Shorter Attention Spans
Digital That Makes Money
12 Noon Complimentary Lunch
1:00 pm Better Options for AM Radio
Podcasting – Yes or No!
2:30 pm Break/Complimentary Snacks and Refreshments
2:45 pm Jerry Lee’s Presentation: Reducing High Advertising Churn
Morley Winograd: Attracting Millennial Listeners
3:30 pm Audience Q & A
4:00 pm Conference Concludes
Here are the program details:
- Reducing High Advertiser Churn – The proven program MoreFM, Philadelphia Chairman Jerry Lee uses to keep advertisers renewing at high rates and premium prices.
- Strategies to End Rampant Rate Cutting – How to take back control of the media buy from large consolidators or underachievers who are willing to drop rates, add costly promotions and flood the buy with bonuses.
- Attracting Millennial Listeners – A list of compelling content that is like catnip to 18-34 year old Millennials. Presentation by Morley Winograd, author of Millennial Makeover and other books on this generation.
- Rebuilding Eroding Radio Audiences – Take notes on things like changing the way you hire air talent, how they talk to listeners in the age of digital and social media and making today’s radio not sound like yesterday’s.
- The Morning Show of the Future – The prototype of the new “morning man”. A more authentic way to do premium-priced commercials. A must-have feature more addictive than traffic or weather. The one thing every station leaves out of mornings that in-demo listeners really want.
- Eliminating the 3 Biggest Listener Objections to Radio – How to fix too many commercials, outdated morning shows and ending repetition that turns listeners off.
- Longer Listening – With TSL down every year since 1990, commercial-free music sweeps will no longer keep them tuned in. It’s this, instead.
- Dealing with Too Many Commercials – New thinking on how to schedule all those shorter spots stations are running. The answer to where is the best place in the hour to schedule them (PPM and non-PPM strategies).
- What Cinches a Buy Faster Than Even Bonus Spots – Blow bottom feeding competitors out of the water when they offer tons of bonus spots to buyers and you offer this.
- How to Program to Shorter Attention Spans – The cure for the epidemic of listeners who won’t listen to a song all the way through --- even one that they love.
- Digital That Makes Money – Why you should eliminate the expense and effort of doing social, web and app digital projects when this one, very inexpensive approach can start producing big bucks in months – I’ll show you teens that make more money from this approach than entire radio stations. If they can do it, you can do it!
- Creating Fresh, New Formats – Is radio all out of mass appeal formats? Not if you choose the innovative, new spoken word and music formats from this list.
- Great New Options for AM Radio -- I’ll bet you if you put this megaton promotion on an AM station along with this format, even a Millennial will find it and stay tuned. And what if I show you how you can pay for it and profit by selling it to a handful of advertisers?
- What to Do About Podcasting – The #1 podcast in the iTunes Store is an on-air radio show. What we’re learning about what works and what doesn’t and the future of podcasting in radio’s revenue future.
Inquire about group rates here
Look through our program, brochure here.
- Changes to Cumulus Operations
- Townsquare’s Non-Turnaround
- Pittman’s Blueprint for iHeart
- Entercom’s Accelerated Layoffs
- The Sale of Universal Music Group
- What Cumulus is Hiding
- Numbers Tell a Sobering Story on Entercom
- iHeart Firing Employees for Its New Owner
- Entercom Now Outsourcing to India
- Entercom’s Market Meltdown