Is the Opportunity Right to Market Your Radio Station?
I guess the question comes down to betting on a variety of things. First, is the economy on its way back or poised for another dip? I read today that Media analyst at SNL Kagan anticipates radio revenue to grow 6.4% this year, which would mean the industry is pacing to beat the recovery in overall advertising. If this continues to hold true, do broadcasters change their corporate marketing strategy to promote more of their second tier radio stations or do they continue to hunker down and wait. Which group will invest the marketing dollars to position themselves as a leader in the industry both from a ratings and a revenue standpoint?
We talk the talk but…
We instruct our station reps to tell business owners that they must advertise their companies in order to increase sales and revenue. These businesses that we push to advertise are in the same position as radio. They’re keeping a tight reign on their company budget and waiting for the economy to recover. The next question is, when does radio take a preemptive and what many may consider to be a bold move to market and advertise more aggressively much like the businesses we attempt to sell each day? When?
Get your unfair share of ratings and revenue
I believe now is the time for your broadcast group to invest in its present growth and future survival and to choose a different road to success. One that requires taking a proactive approach to grow your company. To quote Robert Frost, “I took the one less traveled by, and that has made all the difference.” History has proven that in difficult times opportunity exists for those willing to bet on their personal or corporate abilities to face difficult challenges. The broadcasters that aggressively advertise their stations now will gain an increased share of both ratings and revenue well before their competition has a chance to react. Of course one must first believe in their station’s ability to convert higher ratings into more revenue, and if you don’t then you have a larger problem. Those that do believe, however, will emerge from this economic crisis in a leadership position and get the most out of an industry that still remains viable. Who’s ready to lead?
