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It has been about ten years since Arbitron, now Nielsen, started their transition from a diary-based survey to PPM in the larger markets. The premise was easy to understand; if your ears can hear it, then the meter will pick it up. That worked well in 2007 when most listening was to a station’s broadcast signal and through speakers.
As long as I have been in radio, I have heard the comparison of radio inventory with airline seats. Just like empty seats on a plane that has taken off, the value of a radio spot that goes unsold is zero. There is no way to regain that inventory once the plane has taken off or the stop set has run.
Let’s take the opportunity to learn from the airline industry. How are they adjusting their sales strategy?
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.
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.
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?
