12-14-2011
Part of radio's problem has always been that we can never be totally sure an ad we played drove a specific consumer to purchase a specific product. Sure we try to produce anecdotal survey information or ask an advertiser if sales increased month over month. But how many times have you heard the story of a consumer who purchased a product after hearing a TV ad yet the ads only ran on radio. Serial entrepreneur Tom Burgess (pictured), with VC backing, has launched a company that gives radio salespeople specific data that shows advertisers exactly how many consumers respond to an ad. It's the information salespeople have always wanted, solid proof that radio advertising works. Of course the ad still has to be well produced and the offer from the advertiser has to move the consumer to action.
Here's how the new technology works. When an ad runs on your station, if the listener is interested in the product he or she interacts with that ad, for example by sending a text or short code. The offer or discount made in the ad is automatically added to the consumers credit card once your listener goes shopping. It's an instant rebate, without the mailing, without any paper to fill out and without any coupon scanning. It's the listener interacting with the ad.
Burgess has solidified relationships with all the major banks and credit card companies. Nothing needs to be done by anyone at the checkout counter. Once the campaign is over linkablenetworks provides you with the data of how the campaign worked, which you can then show the advertiser. Private information such as credit card information is never shared. You can take that data to the advertiser and say 50 people or 100 people or 1,000 responded directly to your ad this week. Of course, this also puts a little pressure on you to make sure the ads are well done, make a great offer and move people to action.
Bain is a financial backer of the 2-year old company. And, just an FYI, there is no cost to you to use the technology.
Here's our interview with Burgess who explains in more detail how the technology works.
Read more about Linkablenetworks.com HERE
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