8-13-2012
By Chris Miller
Cumulus' Co-COO John Dickey said earlier this week, here on RadioInk.com, that "one of my assignments is to put an end to" his radio stations negotiating and accepting rates that are too low. That got a lot of people talking, including this response a guy in the trenches who points out what we're up against.
I've worked on the digital side for a couple of years, and here are four things I see about digital sales and revenue that should help stabilize and increase our clients' perceived value of us.
ONLINE DATA IS REAL, NOT ESTIMATES
All Arbitron numbers are estimates. Cume is the "realest" estimate of all, and everything else is what you get when they plug your cume estimate into their mathematical formulas.
However, digital numbers are real. "This many people" listened to your stream. "That many people" clicked on your website. "Here's how many people responded" to a streaming ad or a special website offer. Those are all real people doing real things with your brand. That's a lot different to estimates.
Estimates are just asking to be argued about, while real people doing real things?is real. It's also harder to argue about what it's worth when it turns into a trackable benefit for our clients from start to finish.
YOU OWN YOUR CLICKS
Mobile Web usage means even more and more people are going to be using us online. At some point, the number of people listening to your stream will eclipse the number listening to your broadcast.
You don't have to buy estimates from a third party like Arbitron. When you own the detailed data of how your fans interact with you, from platform to platform, that's going to change how our inventory is bought and sold. Especially when your broadcast is a smaller piece of the pie. It will be less about comparison, and more about the power of your brand.
THE PLATFORM MULTIPLIER
When all you have is a transmitter, and your listeners turn you off, they're gone. However, when you have a broadcast, a website, a stream or two or three (hello, HD channels?), database emails and social media, you can move your fans from one platform to another to another with seamlessly integrated content. That means that your target's "time spent consuming media" is much more likely to be spent with your resources and offerings.
Then, when your clients buy advertising in the multiple channels you control, they get better results by being out in front of your biggest fans that much more often. Those multiple resources, working together, mean you are less of a commodity and more of a powerful marketing machine.
LEADERS GET THERE FIRST
I know you knew that already. Here's the big thing about the digital world that I've learned: It changes incredibly fast, and it takes a commitment to doing, learning, and collaborating every day. The effort management has to put into digital sales can seem, at first, as if it's not worth the payoff. Nevertheless, this world is growing and changing rapidly and now is the time to get out in front. That's how you'll be ready for the success when the numbers begin to tip faster away from traditional broadcasting and towards digital media consumption of your brand.
Chris Miller has been a major-market PD in Atlanta, Portland and Cleveland. He now operates Chris Miller Digital, which he launched. Visit his website at www.chrismillerdigital.com.
Contact Chris via e-mail, chris@chrismillerdigital.com or 216-236-3955.
For more articles from Chris Miller go HERE.
(8/13/2012 7:18:47 AM)
Well said Chris. One of the key things you mention is that "Online data is real"; there are no estimates in online metrics. It's a true representation of the audience and stations can show concrete ROI to their advertisers. It's also true that leaders get there first. The groups who have made a commitment to digital and have backed that commitment with resources are seeing positive results.
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