How Unique is Your Market?

In last week’s BIA Kelsey Local Media Watch blog, they suggested, “It’s good to think of small markets as unique, rather than as reflections of the national advertising market.”

 

The article drew the conclusion that different media combinations work differently in every market. And while that may be true, I believe it missed one important variable when trying to rationalize the differences in advertisers’ media use from one market to another.

 

I suspect the difference has as much to do with the effectiveness of media sales forces in each market, as it does with the effectiveness of the various media in those markets.

 

The article failed to recognize the role of sales forces in telling their media’s story and capturing market share.

 

Here is a sample of the local market ad revenue differences they discussed:

 


Media
         Market A Share           Market B Share          Share Difference

Online               12.76%                         19.60%                       6.84%

Radio                11.43%                           7.50%                        3.93%

Print                    9.96%                          12.46%                       2.44%

Direct Mail          0.47%                           7.10%                        6.63%

 

You can see that Radio captured 52.4% more share of ad dollars in Market A versus Market B, that’s huge! You’ll also note that the more successful radio market appears to do so at the expense of Online, Print and Direct mail in that market.

 

I haven’t named the markets, but I’m somewhat familiar with both and I suspect the radio sales forces in Market A are much more effective at selling radio’s strategic role in the new media landscape versus Market B.  Radio sales execs in Market B obviously fight for station share of tight radio budgets thinking the other radio stations are their competitors rather than understanding how to sell a more dominant role for radio in a media mix.

 

Click here to arrange an online overview of how our SoundADvice and TOMA Research can educate clients, and train radio account executives, on why radio deserves a larger share of advertising budgets in your market.

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Now What….CONGRATULATIONS?

                Okay, so every professional salesperson sends the traditional ‘thank you’ note after every sale.

                What if you broke from the pack and wrote a ‘congratulations’ note instead?

                Congratulating your client on deciding to work with you on their next ad campaigns will certainly differentiate you from the more traditional.

                Saying ‘congratulations’, along with a short note reminding your client they’re about to enter a productive partnership and what you are about to do to help achieve their goals can also alleviate buyer remorse.

                The long term effects of advertising done right are self evident, but clients often get nervous about writing a check this month if there is no instant gratification.

                Your congratulations note, along with a clear outline of the next steps you are about to take can firmly establish your relationship and your brand as a marketing partner.

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What Digital Experts Don’t Tell You

Do you have an advertiser who is infatuated with their digital ‘expert’ or agency?

We suggest you ask your client to ask their digital consultant or advisor, “What is the most common word internet searchers use to find your business?”

If they’re honest, the answer won’t be a key word or other SEO tactic. They’ll have to admit that the most common word used for consumers to find them through search is their name or their business name.

You can bet that until they were asked, they did not tell your advertisers about the role of branding & creating pre-search name awareness in driving more online traffic.

There is no substitute for name recognition when consumers search for a business online. And there is no disputing the intrusive power of broadcast advertising in creating top of mind awareness and name recognition.

That’s not to say there is no value to some of the online tactics implemented to capture more leads. But if the advertiser’s marketing has been effective, nothing will trump name recognition.

Our local TOMA (Top-of-Mind Awareness) Surveys consistently validate the power of broadcast advertising to create top of mind awareness and drive more online traffic, leads, and sales.

In his Monday Morning Memo, Roy Williams wrote, “I’ve long suggested that radio stations fund a TOMA study every two years. Few things are as valuable in the eyes of advertisers as these revealing market snapshots.”

         Click here to arrange an online meeting to discuss how conducting a TOMA study in your market will increase your local revenues.

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Sales and Coupons

This morning I saw a trade article headline that read ‘Sales and Coupons Most Influential in Driving Consumers to Shop.’

I’m fed up with number crunchers and the pursuit of instant gratification. And frankly, I’m also fed up with amateur radio reps taking the easy route of cutting rates and selling short-term packages.

Radio’s strength is in building brands. And radio’s future lies in our ability to sell the power of Top-of-Mind awareness and branding.

Let’s dig deeper into the ‘Sales and Coupons’ headline.

The author of that article referenced a consumer survey where respondents said they were driven by sales and coupons….price cutting.

Can you imagine a survey where participants would say ‘I don’t care about discounts, I want to pay as much as I possibly can.”  Roy Williams has made a successful career out of learning why people do the things they do.

Roy asserts that often we don’t really know why we do the things we do.

We’ll often default to the price motive, without understanding the role branding played in our purchase decisions.

If Coca-Cola offered a 10% off coupon while an unheard of ‘A.B.C. Cola’ offered the same 10% off, which do you think would receive the most coupon redemptions?

One of the early pioneers in retail branding, Morris Saffer said, “It doesn’t take a genius to increase your sales. Simply cut your prices in half and you’ll line customers up around the block. The genius” said Saffer, ” is in increasing sales at a profit.”

Do your salespeople know how to sell the power of branding with radio in the marketing funnel to create top of mind awareness and in creating a brand preference for your advertisers?

         Click here to arrange an online meeting to discuss how the SoundADvice radio e-marketing system and TOMA research can educate your salespeople and your clients, about the power of radio advertising in the Electronic Media Marketing Funnel.

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Your Toughest Selling Job in 2017

Your toughest selling job in 2017 is not selling your advertisers. Your toughest selling job is selling your sellers.

They are beat up on the street every day being told radio doesn’t work, no one listens to radio in the digital age, your rates are too high, the economy is tough and so on and so on.

You know that repetition sells, and over time the repeated arguments your prospects throw at your salespeople, take their toll on their attitudes and perceptions.

What are you doing to sell your sellers in 2017?

Is selling radio, your events, sponsorships, digital products and promotions still fun?

Do your salespeople know how to sell radio’s strengths in a rapidly changing media world?

Is your remuneration package competitive with other business-to-business sales organizations in your market?

Have your salespeople been taught how to sell reach versus frequency as your reach remains consistent but your hours-tuned become eroded?

These are questions that must be answered daily as you compete in 2017.

Our SoundADvice radio e-marketing system can answer all of these questions, for your sellers and your advertisers.

Click here to find out how SoundADvice can help you answer your clients questions

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