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A Unique selling proposition
In the aftermath of 9/11,
the entire concept of non-traditional revenue seems moot. As many stations struggle
to make budget, the concept of traditional revenue becomes much more important.
What a difference a couple of months can make! As the sands of radio ontinue
to shift, one eternal radio truth remains. Successful radio stations sell more
commercials at a higher rate. It's not brain surgery. Stations that sell more
commercials at a higher rate make more money. The stations that succeed
in this environment are the stations that offer what others can't. It's called
a unique selling proposition. It's what makes an advertiser spend the entire
budget on your stations without caving the rate. Think about your station or
cluster. What is your unique selling proposition? Consolidation has leveled
the playing field in most markets. If you are depending on Arbitron numbers,
that is not unique. Everyone has Arbitron and can make those numbers dance.
Your cluster delivers results, right? Most radio delivers results. If it didn't,
those stations wouldn't be in business. Your cluster has the stations with the
best music, right? Most stations use highly researched formats in this day and
age and do a good job of hitting the target. So, what is your unique selling
proposition? Chances are you don't have one, which is why you are splitting
most of the buys in your market three ways or getting jammed on rate. In reality
most stations don't offer much that's different from the guy next door. Imagine for a minute that
you had something to offer your clients that no other station in the market
could offer. What impact would that have on TRADITIONAL REVENUE? That is where the concept
of database and loyalty marketing comes in. When you are pitching against strong
groups and parity in a market, being able to offer up huge database and loyalty
marketing will increase your share of the budget in a market. It gives you that
unique selling proposition. With Loyalears.com you supercharge
your promotions and build a huge database at the same time. You reward listeners
for doing what you need them to do and then use that database to sell more 30's
and 60's on your station. By using a proven system that increases time spent
listening you improve ratings, but more important is the unique selling proposition
this program offers. Here are a few examples: 1. Your cluster is in a
pitched battle for a fast food account. Your competition is offering a registration
box and a cost per point that makes your hair hurt. What are your options? What
is your unique selling proposition? In most cases these days it's your ability
to bend over. One station with Loyalears had a better answer. Let's use our
station's 16,000 person database to generate traffic and sales for your business.
Target e-mail by zip code to households near the account's locations. Include
a coupon for a discounted meal (tied to the station's frequency, i.e.: The $1.01
Dinner. Also offer the client the opportunity to give meals away via the station's
loyalty program. Now you have a unique selling proposition. Your competition
is in the dust. 2. Your cluster is in a
pitched battle for concert money. Your competition is offering a call in and
win promotion to give tickets away on the air and a cost per point that approaches
a dollar a holler. Unique? You offer a direct e-mail to 16,000 targeted fans
of the group playing. That e-mail contains a direct link to a web address that
allows that database to purchase tickets a day early. You also agree to offer
up tickets on the station's loyalty program with on-air and web exposure. You
also agree to print a keyword on all tickets purchased the week of on-sale that
can be redeemed for points in the station's loyalty program. Now you have a
unique selling proposition! This promotion sold 2,500 in the presale(24hrs)
and resulted in the only sold out date on the entire national tour. How would
you like to sell against that package? 3. You are pitching a pizza
chain that needs to increase it's delivery business. Your competition has offered
up a promotion to giveaway pizza at remotes and on the night show. Unique? You
offer the client a promotion that offers points for each pizza purchased. You
are rewarding listeners for doing what you need them to do. Which promotion
will do a better job of selling pizza? That is unique. Don't wait until you have
to sell AGAINST this. Start working on your traditional revenue and unique selling
proposition today. Sell more commercials at a higher rate. Leave NTR for those
who are sold out at the top of the rate card. Glen Gardner |
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