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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?
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.
