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Filed Under: Hot Topics
There has been a recent explosion of conversations regarding programmatic selling for the transaction of radio advertising. Recently at the Radio Ink ConVergence conference, we saw a demonstration of Marketron’s prototype for programmatic selling.
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It has always been interesting to see just how little information sales people have about what makes a top sales performer. If asked, most sales people would say that they are the best at what they do. Many would say that the key to their success is their persistence or great time management skills. Although these skills are important to one’s sales success, it has little to do with what separates top producers from mediocre producers. When looking at salespeople from various industries, the top five skills and behavior patterns that top producers possessed were identified.
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When Bobby McFerrin’s #1 song, “Don’t Worry, Be Happy,” hit the airwaves in 1988, it is doubtful that he was thinking about the medium that was playing his tune. But perhaps he should have been. A 2011 study – Media and the Mood of the Nation – conducted by Sparkler Research in the U.K., concluded that “listening to the radio makes people happier than watching TV or surfing the Internet.”
So why is this?
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Last month I attended a leadership seminar and I returned to the office with tons of ideas. One thing that I know I’ll put to good use is a seven-step process for problem solving. This relates to both radio sales and programming.
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There is an old commonly used adage, “It’s not what you say, it’s how you say it.” In the radio business, no adage rings more true with regards to creating effective radio advertising. In order for an advertising campaign to work on the radio or in any communication medium, a few key pieces of infrastructure must be in place to be successful: a strong advertising campaign with the right amount of penetration aimed at the advertiser’s targeted demographic, good production value, and strong copywriting. The last piece of the equation is often overlooked when creating advertising material.
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In almost any circumstance there’s an opportunity to sell. Perhaps it’s a product or service. It may be something as simple as assuring legitimacy or gaining trust. Regardless of the situation, there are most likely some selling tactics that can provide a benefit or two.
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According to a report published by Business Insider, ad tech specialists will have more opportunities to gain a larger foothold in the realm of advertising spending as a result of less human mediated manual sales and more real real-time bidding. These are poised to dominate the advertising spending space going forward.
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Radio has been living in fear of Pandora and the other pure plays for some time. In the weeks leading up to Christmas 2014, there was much speculation that, with the amount of online choices available, consumers would abandon their traditional holiday listening choices.
Then, the cold winds blew in from the north and reality prevailed.
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“All animals are equal, but some animals are more equal than others.”
― George Orwell, Animal Farm
Is every pair of ears worth the same amount to every advertiser? The answer is no. Certain audiences are worth substantially more to a given advertiser, depending on the age, sex, race/ethnicity, or geographical makeup of the audience and how well that audience matches the consumers looking for a particular product or service.
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And now there’s more data. From time to time, we all need to take a closer look at our Scarborough data, and now you will find that the smoking category has been opened up to provide more information on the smoking habits of your listeners, including how much and how often they smoke, as well as how many times they have tried to quit.
This added information provides tremendous opportunities for revenue growth, especially with the recent healthcare changes.
