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Benefit from Your Market’s New Profile

Benefit from Your Market’s New Profile

Past columns have emphasized the value of knowing your market’s profile. Understanding and communicating the population composition to potential advertisers can help you position your audience as an essential part of an advertising buy. Plus, you can demonstrate your knowledge of the market.

Right now, this knowledge is more valuable. Every year, Nielsen updates the metro population estimates for all its radio markets. It goes beyond 6+ (or 12+ in diary markets) to also include your metro population by:

  • Gender
  • Age cell
  • Ethnicity
  • Geography

This update was reflected in the newly released October PPM surveys and will be reflected in the October (August-October) diary CDM surveys and Fall 2021 diary 2-book surveys. These updates are acquired from the highly respected Claritas LLC. The Fall Universe Estimate updates occur in October for both the PPM and Diary markets. The new population estimates are based on Fall 2021 Market Definitions and 2020/2010 Census Bureau data updated and projected to January 1, 2022, by Claritas LLC. The full results from the most recent census are not yet available.

While valuable in all cases, this is especially valuable for those stations who have audiences that advertisers undervalue – for example, those stations that appeal to either the 55+ or ethnic portion of the population. While every market is unique, we suspect that many markets will show growth in the 55+ portion of the population and its African American and Hispanic portion of the population. It can also be effective for those stations whose signal or appeal is centered in a limited geography.

So how does a wise sales rep take advantage of this knowledge?

First, you need to answer these three questions:

  • What is the profile of my market?
  • How has it changed from the previous survey?
  • How can I use this information to my advantage?

Once these questions have been answered, decide how you are going to communicate this to advertisers. Decide which is more advantageous:

  • The size of the different segments of the population
  • The change from the previous year’s population estimates

This is a complicated issue, and I suggest that you do not make this solely a point of conversation. Lay out the information in a clear and effective way on a single sheet. This will make you look professional and help shape the story in a positive fashion.