After talking with Presidents, VP of Sales, Directors of Digital, and GSMs about radio ad sales, we learned that (no surprise here) the radio industry is in the middle of a sea change. Digital is penetrating its way into the radio ad selling eco-system, generating additional revenue from existing clients and developing new business are all “must-do” now slogans. If radio ad sellers are prepared there’s no shortage of opportunities on the horizon.
Here are our three key takeaways to keep in mind as you’re selling radio ads.
Podcasting Will Have a Huge Impact on Radio Ad Sales
Every other session at the Radio Show was about podcasts. How to create a podcast. How to market a podcast. How to sell advertising on a podcast.
Our booth was next to the “Innovation Stage” which showcased new advancements in radio and doubled as a stage for musical acts. We certainly had the best seats in the house. Not just for the musical acts, for hearing speakers talk passionately about the potential podcasts have to crack radio ad sales wide open.
Audience members lined up six people deep and crowded around a tiny stage, forming a mini-fire hazard. But it was worth it. These sellers were dying to find out how to leverage podcasts for their own stations.
We were recording our own podcast from the show floor and asked the Director of Digital Sales at Beasley Media Group, Georgia Beasley, about her take on how podcasts will make an impact on radio ad sales.
“There’s a lot more opportunity with podcasts, but you’re not talking to a large audience,” Beasley said. “The numbers aren’t there, but on the flip-side the audience is highly targeted.”
A highly-targeted audience is exactly what advertisers want.
“Podcast can bring in unique dollars and new advertisers. You can approach a client and say, ‘Listen, I know you don’t want to advertise on our station, but we have this podcast that delivers a very specific audience.’ It’s a new solution for your radio client and a new client for our industry.”
As radio embraces podcasts remember that building out a niche, a specific audience you can easily target, opens up the floodgates of advertising from your clients. It’s a win-win for all parties involved.
Dan and Brenda discussing radio sales for the Matrix Media Sales Podcast.
Radio Sellers Spend Lots of Time Educating Clients on Digital
“My customers want more digital - like Facebook or Google Ads, but we’re not sure how to sell it,” said one general sales manager. “How do you price something like that? Especially when the competitors are giving it away as added value.”
This sentiment wasn’t unique among radio ad sellers.
Plenty of radio sellers came by our booth looking for a platform that could tie together analytics from digital and radio. They were looking for a tool that would help educate their sales organization. Whether it would provide forecasting and benchmarks, or unveil opportunities to the sales team (and clients).
Radio is a piece of the advertising puzzle. Savvy clients don’t want a sliver of the puzzle. They want the entire puzzle. Radio stations need to be equipped with the tools to sell radio, events, sponsorships and digital if they want to continue to thrive.
If radio sellers can position themselves as digital experts and guide their clients into the digital world, you can bet that client will be a life-long client.
Close the Loop on Radio Ad Sales Performance
Okay. So as a radio seller you’re selling a lot more than radio. You’re selling sponsorships to events. You’re selling digital. Maybe you’re selling podcast ads.
How do you keep track of all of these channels? How are you closing the loops? How are you communicating the results to your clients?
Measurement is critical to selling. Closing the loop and letting your client know exactly the ROI on their campaigns opens up multiple doors. First, that feedback builds rapport with clients. They’ll trust you if you’re providing exact measurements and helping them understand how much bang they’re getting for their buck.
Second, these insights help you sell smarter. When you close the sales loop, you can use those insights to tailor advertising campaigns for a client. You can tell your client, “Look, this radio ad is driving up your web traffic. If you want more visitors let’s do more radio.” Or, you can say, “These Facebook ads have an above-average engagement rate. Your audience really loves this stuff, so let’s do more on Facebook and less sponsorships.”
When you can provide honest, consultative feedback to a client, you’ll see less client turnover. And, happier clients. Clients who want to spend more money with you.
Want to talk Matrix about improving radio sales with sales enablement tools? Fill out the form below.
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