6 powerful reasons to buy radio nowArticle added by Joe Bayliss on November 17, 2011
Shell Beach, CA
Joined: February 09, 2012
Ranked: #110 (368 pts)
When properly executed, radio is a game-changer for your practice.
Maybe you’ve heard about the success one of your colleagues is having as a result of hosting a 60-minute radio talk show. Or
maybe you already have your own radio show, but you are looking to upgrade to the dominant station in your market. Either way, here are six reasons why there’s never been a better time than right now to pull the trigger on buying your own radio show on the right station.
No. 1 — Radio reaches 93 percent of the U.S. population
For starters, despite the increased competition from satellite radio (Sirius/XM) and online radio (Pandora), terrestrial radio still reaches 93 percent of the U.S. population each and every week. Few advertising mediums have this kind of reach — radio remains a strong medium.
No. 2 — Radio still enjoys upper demo strength
More importantly, radio remains strong with upper demographics. If you are like most of the advisors I work with, you are targeting adults age 45 and older, adults 55 and older, or adults 55–64. These demographics grew up using radio and are slower to change their habits.
If terrestrial radio is losing listenership to other mediums such as satellite radio and digital radio, the bulk of this erosion is with younger demographics (persons 12–34). These individuals represent the early adopters of technology who are more apt to try other media, but your target demographic is likely not part of this group.
No. 3 — Increased attention
With the political election coming in 2012, there will be an increased amount of attention on news and news/talk formats — some of the primary formats on which I buy one-hour talk shows for our advisors. The country is becoming more politically polarized, and this is likely going to be a very pivotal election for our country. News agencies and talk show hosts will have plenty of fodder for content.
In short, the new year will turn many people’s attention to the election. The increased attention on news and news/talk formats will only benefit the advisors who have shows on these formats.
No. 4 — It’s on sale now
Everybody loves a good bargain. Radio has been beaten up over the past several years and is now on sale. Why? For starters, the economic downturn has caused an advertising recession. Traditional media like newspaper, television and radio were hit hard.
Secondly, today’s advertisers have more choices than ever before. In 2007, online advertising surpassed radio in sales as if radio had been sitting at a standstill.
Radio is based on supply and demand. Low demand equals low prices. High demand equals high prices. There is currently a drought of demand. Very few markets or stations are thriving. I speak with stations on a daily basis all over the country, and the story is the same everywhere. This drought of demand makes radio more affordable than it’s been in a long, long time.
No. 5 — Timing is everything
You’ve heard the adage, “Timing is everything.” Well, the best time to make your best deal in radio is just around the corner. Why? January is the slowest month of the year.
Even though budgets are being finalized for 2012 as I write this article, everyone is focused on doing whatever they can do to have a strong fourth quarter and achieve their annual budgets. This focus will continue through mid-December — I’ve seen this movie for 30 years.
Starting in mid-December through mid-January, panic sets in to drive revenue for the new year and prices drop to drive demand. This is a great time to start doing your research and showing some interest so that you can negotiate your best rate in 30 to 45 days.
No. 6 — Results
You can’t argue with results. I work with advisors all over the country, from the East Coast to the West Coast; from top five markets to small town USA. These advisors are buying a 60-minute radio show and it is becoming the driving engine behind their practice.
These shows are driving leads for their business. Some of these advisors see immediate results right out of the gate. I have one experienced advisor who had 22 calls from his first radio show. It takes others a couple of months to gain some traction.
On the other side of the coin, I’ve seen some advisors struggle with radio. There is, however, always an obvious reason why it’s not
working. They may have bought the wrong station; they might not have all of the right components in place; or the show structure and content might be off the mark. Just like anything else in life, there are one hundred ways to do it wrong and one way to do it right.
It’s important to work with an IMO that has experience helping advisors grow through radio, particularly one that has experience in
two areas. First, they must have some experience sitting on the other side of the negotiating table. Second, they must also have experience coaching and mentoring advisors to grow their business through a radio show.
Properly executed, radio is a game-changer for your practice.
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