Information is Power – and Profit
By Bill Sullivan
One sign of our troubled economy is the discounted remnant airtime being offered by more and more radio stations across the country. It’s no surprise that many advertisers are profiting from that low cost airtime. However, at my agency we know first-hand by the calls we’ve been getting that there are a growing number of advertisers who are confused by the reduced rates. Apparently, they have jumped at the chance to buy such inexpensive time, scheduled and run hastily developed campaigns and don’t understand why they’re not working. They haven’t been thought through–step by step–from creative to expected sales to the follow-up of leads and sales. In short, they’re not working because their campaigns are not based on a proven pay-for-performance strategy.
ELEMENTS OF THE STRATEGY
Unlike most other Internet users, the audiences who visit a station's website are interested in learning more about the station, its programming and its sponsors' products and services. In other words, the audiences carry their loyalty from the station's airtime to the station's website, and further' to the linked advertiser's website with it; additional sales messages. As a result, the leads produced by such streaming are of a higher quality-the key to increased sales. And, by the way, advertisers can take advantage of streaming's increased selling benefits by placing their spots directiv on the station's website without buying airtime. Most importantly, the price of streaming is very negotiable. In some cases, it can be done on a pay-far-performance basis. You might compare it to where cable TV was 20 years ago.
Stations have been trving to promote the use of their websites with little success, but streaming is still in its early growth phase. As a result, stations' websites are presently under-utilized and many advertisers are being offered streaming plans they can't refuse. Most advertisers already have radio and TV spots and even websites underway, so the opportunity is here and now and just waiting to be seized by savvy advertisers.
While many industry experts have specialized in radio advertising for many years, with streaming some are now promoting more TV ,ads. ln our case, we are also starting to develop ways to get our clients' print ads, as well as their spots, onto stations' websites.
Bill Sullivan, Director of Business Development with Lockard & Wechsler Direct