DISCOUNT GIFT CERTIFICATE PROMOTION JUMP-STARTS WEBSITE REVENUE STREAM
Listeners Pay for Client’s Advertising
Could this be the year your website turns a profit? Radio spot business is down nationally. The economy will take a while to sort out and, as always, advertising is usually the first thing cut and the last thing paid.
The good news however, is that some radio stations will prosper in a down economy by adopting new concepts. Many stations are finding a quick and easy way to new revenue through their websites by selling discounted gift certificates online. Perhaps you’ve heard about it, thought about, and maybe your competitor is already doing it. It’s not that hard to do and revenue starts the day you launch. The concept is based on organization, promotion, and fulfillment.
You may have an aversion to trade -- but keep an open mind to this program nevertheless. Why? Because you’ll now be paid for your trade! Isn’t it time to add to traditional revenue streams and monetize your website? This program won’t replace your cash business, but it will bring in instant cash and new clients! And who pays the client’s advertising bill? Your listeners!
8 STEPS TO GET YOUR CERTIFICATE PROGRAM ONLINE
1. Trade $1,500 in gift certificates with a popular restaurant (not a cash client).
2. Give the restaurant a package of promos, an internet ad and a hotlink to their website.
3. Run heavy promotion using on-air spots and your website, announcing your weekly sale of certificates at a 50% discount. Restaurants will love the promotion (they’re hurting too).
4. Promote your “sale” for several days, building excitement by running a “Countdown” to sale day and hour. (…”Thursday at 10AM, our certificates go on sale”…)
5. Sell certificates through your website if you’re “Pay Pal equipped” (much easier this way) or have operators standing by to take calls.
6. Allow certificate buyers to immediately print out their purchase. A security system is advisable to prevent duplication of printable certificates; or have a fulfillment house snail mail restaurant-supplied certificates.
7. Continue to build and promote your online “store,” with a variety of local businesses discount certificates.
8. Urge listeners to redeem their certificates, and they’ll return to your website to buy more!
Do these programs work? In referring to his discount certificate program Doug Finck, General Manage of WPXT-TV in Portland, Maine said, “…we generated 6 figures of income per year and it’s led to spot sales from clients we would otherwise never have met…”. Jim Carnegie, Publisher & Editor/Broadcaster, RBR.com commented, “Generating additional revenue streams will only happen when Radio and TV learn to use the internet as an additional tool in conjunction with their station operations.” Here’s what the president of Arnie’s Restaurants in Seattle said about this promotion in FohBoh™, a leading social-business network for the restaurant industry, “…We sold all the gift certificates, had 85% redemption plus an additional 34% in sales after the discount! We didn’t incur any out-of-pocket cost until the guest redeemed the certificate and then only the cost of the product...”
10 WAYS YOUR STATION BENEFITS
1. LISTENERS PAY FOR YOUR CLIENT’S ADVERTISING!
2. It turns “no’s” into a close! (Cash in advance for trade spots)
3. Proves radio works! (Customers redeem their certificates).
4. Turns many “trade” customers into cash customers!
5. Drives listeners to your website (they’ll thank you for saving them money!)
6. Eliminates billing, affidavits, and collection letters.
7. Trains and build confidence in sales people as they close deals
8. Provides an “upsell” after cash sale is closed
9. Monetizes your website
10. Builds a data base of listeners for direct contact by the station
A discount certificate program won’t replace cash business, but it will:
1. BRING IN NEW MONEY
2. Thank your listeners to for tuning in to your station
3. Attract new advertisers and show them, positively, that radio gets results
4.Condition your listeners to do business with your website
5. Give your sales staff another tool to get a reluctant client on the air
6. Position and brand your station as the place to save money on their purchases
7. Bring “local” back to your format
Take a close look at this new way to bring in cash flow through your website and create a win-win-win situation for station, client and listener. There’s really no downside!
By Rick Snyder
Partner/Regional manager
The DollarSaver Porgram
www.dollarsaverprogram.com
www.dollarsaverprogram.blogspot.com
561-635-0413 (direct)
561-742-3537 (office)
Tuesday, December 2, 2008
Friday, October 31, 2008
RADIO INK ARTICLE, October 31, 2008; "We're Down, They're up" and RICK'S RESPONSE
RADIO INK, Friday, October 31, 2008
Analyst: No Ad Recovery Until 2010
NEW YORK -- October 30, 2008: BMO Capital Markets analyst Lee Westerfield said in a note Thursday that a severe recession is "unavoidable," and predicted, "A deeper, wider, and more severe slump is upon us, pressured by discontinuous auto and retail marketing, and lapsing business investment."
He revised his ad-growth forecast to down 1.1 percent in 2008 and down 1.9 percent in 2009, with a recovery of plus 5 percent in 2010. Ad spending recovery before 2010 is "unlikely," he writes.
For radio, Westerfield sees an 8.2 percent in ad revenue for this year, a 7.6 percent decline in 2009, and a 0.2 percent uptick in 2010. He projects Internet ad growth of 13.1 percent this year, 12.9 percent in 2009, and 20.5 percent in 2010 -- slower than the recent five-year trend.
RICK’S RESPONSE, October 30, 2008
A dark prediction, indeed, in terms of the declining ad revenue for radio. But how about the good news? A prediction of growth of almost 54% (compounded) in internet revenue through 2010? Hey, how do we, as broadcasters, get our fingers into that fast growing pie?
Selling discount gift certificates through your websites is a promotion whose time has arrived. Stations are adding this exchange based revenue program to their sales kits every week. As your sales people begin to experience more “no’s” from local advertisers due to cutbacks, this gift certificate program gives them another weapon in their arsenal to turn those no’s into a close. Wow! You can do it yourself, experiencing the trail and error system to get you through the myriad of details required to solicit, sell, process and deliver the gift certificates. You can use the services of a fulfillment house, taking some of the work out of your hands. Or you can use a turn-key system, like ours, that take all the detail work out of your hands, saving you time, energy and money! And you’ll see cash through your website the day you launch.
Your listeners pay for your client’s advertising by purchasing discounted gift certificates through your website. The discounted gift certificate program gives your sales staff an extra tool to close a deal (no cash from the client!). It rewards your listeners for tuning in (buying certificates at a 30-50% discount!) It brings cash in through your website (from day 1, guaranteed!) Clients benefit, listeners benefit and radio stations benefit. Finally, a win-win-win system that really works.
Analyst: No Ad Recovery Until 2010
NEW YORK -- October 30, 2008: BMO Capital Markets analyst Lee Westerfield said in a note Thursday that a severe recession is "unavoidable," and predicted, "A deeper, wider, and more severe slump is upon us, pressured by discontinuous auto and retail marketing, and lapsing business investment."
He revised his ad-growth forecast to down 1.1 percent in 2008 and down 1.9 percent in 2009, with a recovery of plus 5 percent in 2010. Ad spending recovery before 2010 is "unlikely," he writes.
For radio, Westerfield sees an 8.2 percent in ad revenue for this year, a 7.6 percent decline in 2009, and a 0.2 percent uptick in 2010. He projects Internet ad growth of 13.1 percent this year, 12.9 percent in 2009, and 20.5 percent in 2010 -- slower than the recent five-year trend.
RICK’S RESPONSE, October 30, 2008
A dark prediction, indeed, in terms of the declining ad revenue for radio. But how about the good news? A prediction of growth of almost 54% (compounded) in internet revenue through 2010? Hey, how do we, as broadcasters, get our fingers into that fast growing pie?
Selling discount gift certificates through your websites is a promotion whose time has arrived. Stations are adding this exchange based revenue program to their sales kits every week. As your sales people begin to experience more “no’s” from local advertisers due to cutbacks, this gift certificate program gives them another weapon in their arsenal to turn those no’s into a close. Wow! You can do it yourself, experiencing the trail and error system to get you through the myriad of details required to solicit, sell, process and deliver the gift certificates. You can use the services of a fulfillment house, taking some of the work out of your hands. Or you can use a turn-key system, like ours, that take all the detail work out of your hands, saving you time, energy and money! And you’ll see cash through your website the day you launch.
Your listeners pay for your client’s advertising by purchasing discounted gift certificates through your website. The discounted gift certificate program gives your sales staff an extra tool to close a deal (no cash from the client!). It rewards your listeners for tuning in (buying certificates at a 30-50% discount!) It brings cash in through your website (from day 1, guaranteed!) Clients benefit, listeners benefit and radio stations benefit. Finally, a win-win-win system that really works.
Thursday, October 23, 2008
RBR.com Article, October 23, 2008: Restaurants caught in a squeeze play. Radio to the rescue!
As consumers cut back on entertainment costs, restaurants are among the first items to be crossed off the list. According to a recent article in the New York Times, this is especially true for mid-priced full-service chains caught in the middle of high-end standalone restaurants with the kind of clientele less likely to bail on their favorite eateries, and the bottom dollar fast food chains.The current economy even has the high-end shops scrambling, however, and both full-service categories are bracing for a bleak holiday season.The standalones have another advantage over the chains, however, which is their relative ability to turn on a dime in making adjustments to new market realities. They can change policy and menu at will, whereas the big nationals often need considerable lead time to make even simple changes. On the other hand, the nationals can marshall their size in the form of advertising increases and negotiating power with suppliers.The fast service shops (literally down the food chain) can unlock their doors and accept the business coming from those who have at least temporarily abandoned their pricier competitors. If you need proof, just look at McDonald’s Q3 2008 results, during which they celebrated an 11% increase over Q3 2007.
RBR/TVBR observation: This is information you can use. Broadcast outlets are a great place on which to advertise restaurants, and the unique situation each of these broadly inclusive restaurant categories faces should go a long way in helping your sales staff tailor a pitch. Whether it’s a great new feature at a standalone, a new price-friendly option at a chain or a new reminder that one fast food restaurant is better than all the others, an appropriate message can go out over your station soon, to help these troubled businesses – and yours – prosper in troubled times.
Rick’s Observation: As the economy continues its unsteady course, restaurants aren’t the only business that’s experiencing difficult times. As those businesses, like restaurant customers, look to trim expenses, we all know that advertising is the first thing cut and the last thing paid. What if your radio station had the ability to offer a no-cash advertising program to your clients that literally had your listeners directly paying your client’s advertising bill?
Selling discount gift certificates through your websites is a promotion whose time has arrived. Stations are adding this exchange based revenue program to their sales kits every week. As your sales people begin to experience more “no’s” from local advertisers due to cutbacks, this gift certificate program gives them another weapon in their arsenal to turn those no’s into a close.
You can do it yourself, experiencing the trial and error system to get you through the myriad of details required to solicit, sell and deliver the gift certificates. You can use the services of a fulfillment house, taking some of the work out of your hands. Or you can use a turn-key system, like ours, that take all the detail work out of your hands, saving you time, energy and money! And you’ll see cash through your website the day you launch.
Your listeners pay for your client’s advertising by purchasing discounted gift certificates through your website. The discounted gift certificate program gives your sales staff an extra tool to close a deal (no cash from the client!). It rewards your listeners for tuning in (buying certificates at a 30-50% discount!) It brings cash in through your website (from day 1, guaranteed!) Clients benefit, listeners benefit and radio stations benefit. Finally, a win-win-win system that really works.
Monday, October 20, 2008
STATION MANAGERS LOVE THE DOLLAR SAVER--Testimonials
Monday, October 13, 2008
"We've been running the DollarSaver since 2003. It's generated six figures of income per year and has led to spot sales from clients we would, otherwise, never have met. The best part is the fact that our viewers thank us for giving them the opportunity to send us their money! Turning unsold inventory into cash, developing new spot customers and having a product that our viewers appreciate is a trifecta in my book!"
Doug Finck
General Manager
WPXT TV and WPME TV Portland, ME
________________________________________
"We have been selling certificates to local businesses for years and fulfillment was always the big issue. How do you man it and how do you manage it? That, plus the lack of customer spontaneity always hampered the potential upside. Now the DollarSaver makes fulfillment a breeze, at a reasonable cost, and the customers can buy certificates to local restaurants and other businesses at the spur of the moment...right before they head out the door. No wonder WKZE's Hudson Valley
DollarSaver has really taken off!"
Will Stanley
GM and Owner of WKZE, Rhinebeck, NY
________________________________________
"The DollarSaver has worked great in all three of our markets. We had been running a program similar to the Dollar Saver but wasn’t as user friendly for clients and customers. This is a complete turn key operation with minimal work for the radio stations. It is a great tool for small to medium size local businesses that do not have the budget to effectively advertise on radio. We even have a few clients that use the DollarSaver in addition to their cash commitments to increase their overall frequency. I would recommend this program for additional revenue especially to small and medium size markets. "
Pete Detone
General Sales Manager
Nassau Broadcasting
Concord, NH
Posted by rick snyder at 11:39 AM 0 comments
"We've been running the DollarSaver since 2003. It's generated six figures of income per year and has led to spot sales from clients we would, otherwise, never have met. The best part is the fact that our viewers thank us for giving them the opportunity to send us their money! Turning unsold inventory into cash, developing new spot customers and having a product that our viewers appreciate is a trifecta in my book!"
Doug Finck
General Manager
WPXT TV and WPME TV Portland, ME
________________________________________
"We have been selling certificates to local businesses for years and fulfillment was always the big issue. How do you man it and how do you manage it? That, plus the lack of customer spontaneity always hampered the potential upside. Now the DollarSaver makes fulfillment a breeze, at a reasonable cost, and the customers can buy certificates to local restaurants and other businesses at the spur of the moment...right before they head out the door. No wonder WKZE's Hudson Valley
DollarSaver has really taken off!"
Will Stanley
GM and Owner of WKZE, Rhinebeck, NY
________________________________________
"The DollarSaver has worked great in all three of our markets. We had been running a program similar to the Dollar Saver but wasn’t as user friendly for clients and customers. This is a complete turn key operation with minimal work for the radio stations. It is a great tool for small to medium size local businesses that do not have the budget to effectively advertise on radio. We even have a few clients that use the DollarSaver in addition to their cash commitments to increase their overall frequency. I would recommend this program for additional revenue especially to small and medium size markets. "
Pete Detone
General Sales Manager
Nassau Broadcasting
Concord, NH
Posted by rick snyder at 11:39 AM 0 comments
AD AGE ARTICLE---Radio Gaining Audience -- but Not Ad Revenue
By Andrew Hampp
Published: October 20, 2008
NEW YORK (AdAge.com) -- Radio has been right behind newspapers as the old-school medium most adversely affected by digital developments. New research, however, shows that radio is actually gaining audience, even in spite of its closest competitor, the iPod.
A recent online study from Paragon Research polling more than 400 14- to 24-year-olds about their music-consumption habits found that the youth demo has increased its time spent listening to radio 11% this year, while its time spent listening to iPods has actually decreased 13%. The study coincides with the Radio Advertising Bureau's annual RADAR report, which shows that AM/FM radio listeners increased by 3 million in 2008, bringing the number of weekly radio listeners to 235 million.
But more listeners are not doing much to boost radio's fortunes. Industry revenue has been largely flat to down in the past five years due to the gradual migration of listeners to MP3 players and online radio -- not to mention advertisers' simultaneous migration to other niche media such as cable TV, web portals and, to a smaller extent, satellite radio. Its two core advertisers -- the automotive and retail industries -- are being slammed the hardest by the financial crisis, particularly at the local level, which is where radio makes more than 65% of its total ad revenue. Radio ad revenue was down 6.5% during the first two quarters of 2008, making it the second-most-declined medium next to newspapers, which suffered a 7.4% decrease in ad spending during the same period, according to TNS Media Intelligence's spending report on the first half of 2008. Internet spending was up 8%, a margin notably smaller than the increases it posted in recent years due to the stabilized growth of display advertising.
Jim Boyle, senior radio analyst for C.L. King & Associates, said although the iPod has had some affect on radio listening, its impact on radio ad revenue has been minimal at best. "It's not as though you have to compete with the iPod to go to the local auto dealer in Ohio for an ad," he said. "Even if they chew into your listenership, the pie is still a much bigger pie. You may only lose a very small percentage of your cost-per-thousand point."
Self-inflicted wounds
And as the industry's highest-ranked executives have readily admitted in recent years, radio hasn't done a good job of embracing new media. As Frank Flores, chairman of the New York Market Radio Association and VP-general manager of the Spanish Broadcasting System, put it, "We've let everybody brand us and put us in different places. The internet branded us as slow and a dinosaur, iPods and streaming just made us seem like your father's brand of communicating, and we've done nothing to dispel that."
RICK’S RESPONSE
Published: October 20, 2008
Radio is a survivor, still going strong after predictions of its demise to TV, satellite radio, internet radio, and portable music players. It’s great to hear about audiences growing as radio attracts them. But as Andrew Hampp’s article points out, radio ad revenue was down 6.5% during the first two quarters of 2008 and “listeners are not doing much to boost radio's fortunes.” Except for those stations that are adopting new concepts to monetize their audience. Expanding new revenue streams through their web sites is already being endorsed by the growing number of stations selling discounted gift certificates from local merchants. Done right, this new initiative brings in immediate cash to the radio station while creating an ongoing no cash promotion for the client, thanks the audience for listening to your station, and literally, has your listeners paying the client's advertising bill! A win-win-win situation. Cash flow starts the day you launch your first sale and continues to grow as your online store stocks up with local merchant's gift certificates. This program won't replace your cash business but, as stations promote their discount certificates program, traffic to their website increases, sales of certificates increases, and many of their new, non cash clients, impressed by the results will turn into cash customers. Help in making this program a success is available through fulfillment houses or with “turn key operations,” like ours, eager to set you up and get you rolling. It's local, provides solutions in a tough economy, and invents a new revenue stream for stations to build on, cash from the listeners.
Published: October 20, 2008
NEW YORK (AdAge.com) -- Radio has been right behind newspapers as the old-school medium most adversely affected by digital developments. New research, however, shows that radio is actually gaining audience, even in spite of its closest competitor, the iPod.
A recent online study from Paragon Research polling more than 400 14- to 24-year-olds about their music-consumption habits found that the youth demo has increased its time spent listening to radio 11% this year, while its time spent listening to iPods has actually decreased 13%. The study coincides with the Radio Advertising Bureau's annual RADAR report, which shows that AM/FM radio listeners increased by 3 million in 2008, bringing the number of weekly radio listeners to 235 million.
But more listeners are not doing much to boost radio's fortunes. Industry revenue has been largely flat to down in the past five years due to the gradual migration of listeners to MP3 players and online radio -- not to mention advertisers' simultaneous migration to other niche media such as cable TV, web portals and, to a smaller extent, satellite radio. Its two core advertisers -- the automotive and retail industries -- are being slammed the hardest by the financial crisis, particularly at the local level, which is where radio makes more than 65% of its total ad revenue. Radio ad revenue was down 6.5% during the first two quarters of 2008, making it the second-most-declined medium next to newspapers, which suffered a 7.4% decrease in ad spending during the same period, according to TNS Media Intelligence's spending report on the first half of 2008. Internet spending was up 8%, a margin notably smaller than the increases it posted in recent years due to the stabilized growth of display advertising.
Jim Boyle, senior radio analyst for C.L. King & Associates, said although the iPod has had some affect on radio listening, its impact on radio ad revenue has been minimal at best. "It's not as though you have to compete with the iPod to go to the local auto dealer in Ohio for an ad," he said. "Even if they chew into your listenership, the pie is still a much bigger pie. You may only lose a very small percentage of your cost-per-thousand point."
Self-inflicted wounds
And as the industry's highest-ranked executives have readily admitted in recent years, radio hasn't done a good job of embracing new media. As Frank Flores, chairman of the New York Market Radio Association and VP-general manager of the Spanish Broadcasting System, put it, "We've let everybody brand us and put us in different places. The internet branded us as slow and a dinosaur, iPods and streaming just made us seem like your father's brand of communicating, and we've done nothing to dispel that."
RICK’S RESPONSE
Published: October 20, 2008
Radio is a survivor, still going strong after predictions of its demise to TV, satellite radio, internet radio, and portable music players. It’s great to hear about audiences growing as radio attracts them. But as Andrew Hampp’s article points out, radio ad revenue was down 6.5% during the first two quarters of 2008 and “listeners are not doing much to boost radio's fortunes.” Except for those stations that are adopting new concepts to monetize their audience. Expanding new revenue streams through their web sites is already being endorsed by the growing number of stations selling discounted gift certificates from local merchants. Done right, this new initiative brings in immediate cash to the radio station while creating an ongoing no cash promotion for the client, thanks the audience for listening to your station, and literally, has your listeners paying the client's advertising bill! A win-win-win situation. Cash flow starts the day you launch your first sale and continues to grow as your online store stocks up with local merchant's gift certificates. This program won't replace your cash business but, as stations promote their discount certificates program, traffic to their website increases, sales of certificates increases, and many of their new, non cash clients, impressed by the results will turn into cash customers. Help in making this program a success is available through fulfillment houses or with “turn key operations,” like ours, eager to set you up and get you rolling. It's local, provides solutions in a tough economy, and invents a new revenue stream for stations to build on, cash from the listeners.
Monday, October 13, 2008
RBR.COM INTERVIEW WITH JEFF SMULYAN AND RICK'S RESPONSE
LINK TO VIDEO INTERVIEW (CUT & PASTE TO BROWSER) http://www.rbr.com/media-news/wall-street/canary_s_mineshaft_song_not_pretty.html
Canary’s mineshaft song not pretty
But the Q3 lead-off conference call from Emmis (discussing what for them are Q2 results) was not entirely devoid of optimism. Jeff Smulyan continues to insist that radio is suffering from a perception problem, and still can claim 260M very real listeners.
Overall, the company posted net revenue was $94.2 million, compared to $95.7 million a year earlier. Pro forma publishing and domestic radio net revenues dropped 6.6% and 8.4%. Operating income was flat at $17.1M, and station operating income came in at $26.4M, a mere $100K below the previous year’s results.
Smulyan noted that it was an extremely challenging economy, unlike anything anybody in any industry has seen ever. “Where it goes, nobody knows,” he observed. “Through all of this, radio listening has held up…I think it’s not lost on major advertisers that this is a business that reaches 260M people a week.”
Emmis execs noted that ad placement cancellations are up – automotive and motion picture accounts were cited as examples – but at this point they said it’s only slightly above the norm, but bears watching.
Rick Cummings said the scariest part of the situation is that radio is already fighting a recent history full of setbacks, even before the current situation developed.
Smulyan said, “The question is the fundamental viability of the sector.” He said people were writing off radio as dead before the Wall Street meltdown, but the fact remains that people still tune in – that wouldn’t happen if the content was as lackluster as some claim. He said the upside is that tough times may cause many key advertisers to rethink moves into other media and return to radio, which Smulyan believes is still capable of delivering excellent results.
RBR/TVBR observation: There is something to be said for tough times working in radio’s favor. Just as fast food restaurants benefit from consumers being priced out of the casual full-service dining market; and discount retailers benefit from troubles at mall boutiques; radio’s relatively inexpensive rates compared to other media, coupled with the fact that it is doing a better job of holding its audience than is the newspaper industry, could fuel somewhat of a renaissance if general economic indicators continue to trend down.
RICK’S RESPONSE
Comments (1 posted):
Rick Snyder on 13 October, 2008 08:15:49
Jim, great video interview with Jeff Smulyan. I was delighted to hear him say "...we've got to reinvent this business..." Jeff also said that broadcasters have to "focus on the business in your marketplace (LOCAL) and provide a solution to advertisers, not only on the air but, obviously on the internet!"
I've got an idea; why not let your listeners pay your client's advertising bill? It's now being done with a discount gift certificate program managed through stations' websites! Cash flow starts the day you launch your first sale and continues to grow as your online store stocks up with local merchant's gift certificates. This program won't replace your cash business but it's a great way to 1) supplement lost cash flow, 2) attract new advertisers with a cash free promotion, and 3) prove that radio gets results! It's local, provides solutions in a tough economy, and invents a new revenue stream for stations to build on, cash from the listeners.
I'm now a partner in a broadcast consulting company that creates a revenue stream through stations websites selling discounted gift certificates. Our system absolutely brings in dollars. We're consulting successful programs at stations from Maine to Arizona. We couldn't agree with Jeff Smulyan more when he says, "...we have to demonstrate that we move the cash register!" Ask any station selling discounted gift certificates if they're hearing those cash registers ring both at their stations and for their clients.
Rick Snyder
General Manager, Florida
The DollarSaver Program
561-635-0413
rickdollarsaver@bellsouth.net
www.dollarsaverprogram.com
www.dollarsaverprogram.blogspot.com
Jim Carnegie on 13 October, 2008 10:51:37
Rick Thanks for the comment.
Yep, all media, especially Radio has to reinvent themselves. RBR/TVBR has had to reinvent four times in the last 3 years.
What I have learned speaking with and sitting down with all broadcasters across the board is they seem to Fear this took called Internet. Getting started is the hardest part. It was for us too.
There are companies right now that call themselves Digital - but - that are no where near the internet digital spectrum. They are just perceived as digital because they put the word digital on their letterhead.
Generating additional revenue streams will only happen when Radio and TV learn to use the internet as an additional tool in conjunction with their station operations.
Jim Carnegie
Publisher & Editor/Broadcaster
RBR / TVBR / MBR
www.RBR.com
Canary’s mineshaft song not pretty
But the Q3 lead-off conference call from Emmis (discussing what for them are Q2 results) was not entirely devoid of optimism. Jeff Smulyan continues to insist that radio is suffering from a perception problem, and still can claim 260M very real listeners.
Overall, the company posted net revenue was $94.2 million, compared to $95.7 million a year earlier. Pro forma publishing and domestic radio net revenues dropped 6.6% and 8.4%. Operating income was flat at $17.1M, and station operating income came in at $26.4M, a mere $100K below the previous year’s results.
Smulyan noted that it was an extremely challenging economy, unlike anything anybody in any industry has seen ever. “Where it goes, nobody knows,” he observed. “Through all of this, radio listening has held up…I think it’s not lost on major advertisers that this is a business that reaches 260M people a week.”
Emmis execs noted that ad placement cancellations are up – automotive and motion picture accounts were cited as examples – but at this point they said it’s only slightly above the norm, but bears watching.
Rick Cummings said the scariest part of the situation is that radio is already fighting a recent history full of setbacks, even before the current situation developed.
Smulyan said, “The question is the fundamental viability of the sector.” He said people were writing off radio as dead before the Wall Street meltdown, but the fact remains that people still tune in – that wouldn’t happen if the content was as lackluster as some claim. He said the upside is that tough times may cause many key advertisers to rethink moves into other media and return to radio, which Smulyan believes is still capable of delivering excellent results.
RBR/TVBR observation: There is something to be said for tough times working in radio’s favor. Just as fast food restaurants benefit from consumers being priced out of the casual full-service dining market; and discount retailers benefit from troubles at mall boutiques; radio’s relatively inexpensive rates compared to other media, coupled with the fact that it is doing a better job of holding its audience than is the newspaper industry, could fuel somewhat of a renaissance if general economic indicators continue to trend down.
RICK’S RESPONSE
Comments (1 posted):
Rick Snyder on 13 October, 2008 08:15:49
Jim, great video interview with Jeff Smulyan. I was delighted to hear him say "...we've got to reinvent this business..." Jeff also said that broadcasters have to "focus on the business in your marketplace (LOCAL) and provide a solution to advertisers, not only on the air but, obviously on the internet!"
I've got an idea; why not let your listeners pay your client's advertising bill? It's now being done with a discount gift certificate program managed through stations' websites! Cash flow starts the day you launch your first sale and continues to grow as your online store stocks up with local merchant's gift certificates. This program won't replace your cash business but it's a great way to 1) supplement lost cash flow, 2) attract new advertisers with a cash free promotion, and 3) prove that radio gets results! It's local, provides solutions in a tough economy, and invents a new revenue stream for stations to build on, cash from the listeners.
I'm now a partner in a broadcast consulting company that creates a revenue stream through stations websites selling discounted gift certificates. Our system absolutely brings in dollars. We're consulting successful programs at stations from Maine to Arizona. We couldn't agree with Jeff Smulyan more when he says, "...we have to demonstrate that we move the cash register!" Ask any station selling discounted gift certificates if they're hearing those cash registers ring both at their stations and for their clients.
Rick Snyder
General Manager, Florida
The DollarSaver Program
561-635-0413
rickdollarsaver@bellsouth.net
www.dollarsaverprogram.com
www.dollarsaverprogram.blogspot.com
Jim Carnegie on 13 October, 2008 10:51:37
Rick Thanks for the comment.
Yep, all media, especially Radio has to reinvent themselves. RBR/TVBR has had to reinvent four times in the last 3 years.
What I have learned speaking with and sitting down with all broadcasters across the board is they seem to Fear this took called Internet. Getting started is the hardest part. It was for us too.
There are companies right now that call themselves Digital - but - that are no where near the internet digital spectrum. They are just perceived as digital because they put the word digital on their letterhead.
Generating additional revenue streams will only happen when Radio and TV learn to use the internet as an additional tool in conjunction with their station operations.
Jim Carnegie
Publisher & Editor/Broadcaster
RBR / TVBR / MBR
www.RBR.com
Sunday, October 12, 2008
SEATTLE RESTAURANTER LOVES THE CERTIFICATE PROGRAM...HE REALLY GETS IT!
This comment was a reply for information on the discount certificate program in Seattle, Washington. It was written by Steve (no last name available), president of Arnie’s Restaurant and appeared in FohBoh.com, a restaurant business networking website.
Comment for: Roy MacNaughton Added by Steve at 2:25pm on March 17th, 2008
Steve Radio Gift Certificate Promotion
1. Win – Win for both us and the radio station
a. This is a huge potential steady bread and butter market.
b. Great vehicle to build traffic to your web site.
c. Unique performance based advertising – Radio station gets paid upon sell of gift certificates.
d. Downside risk minimized for us – If it doesn’t work it doesn’t cost.
e. Results are immediately measurable! Combining air time schedules with the live gift card sales data you can see immediately what is working and what is not. Both parties can use this information to maximize the effectiveness of the program. Changes to the program can be made in stride to make it more effective. Detailed purchasing analysis can also be completed with the available purchasing data.
f. Develops a relationship for future business. There is a buy in from management that this is a valuable program and not just a little bit of money for nothing! I am purchasing a block of advertising even if the gift cards sell out.
g. Use unsold radio time inventory to accelerate slow sales or promote the program b. Combination of live and recorded testimonial style spots works best. I. Is there an announcer that knows and likes us?
h. Email blast just before the program launches and video streaming piece during program should be included in the program. e. Approve all recorded ads before airing. Approve of all printed materials Email or Website. 3. Sales are done through your website on a count down page.
Comment for: Roy MacNaughton Added by Steve at 2:25pm on March 17th, 2008
Steve Radio Gift Certificate Promotion
1. Win – Win for both us and the radio station
a. This is a huge potential steady bread and butter market.
b. Great vehicle to build traffic to your web site.
c. Unique performance based advertising – Radio station gets paid upon sell of gift certificates.
d. Downside risk minimized for us – If it doesn’t work it doesn’t cost.
e. Results are immediately measurable! Combining air time schedules with the live gift card sales data you can see immediately what is working and what is not. Both parties can use this information to maximize the effectiveness of the program. Changes to the program can be made in stride to make it more effective. Detailed purchasing analysis can also be completed with the available purchasing data.
f. Develops a relationship for future business. There is a buy in from management that this is a valuable program and not just a little bit of money for nothing! I am purchasing a block of advertising even if the gift cards sell out.
g. Use unsold radio time inventory to accelerate slow sales or promote the program b. Combination of live and recorded testimonial style spots works best. I. Is there an announcer that knows and likes us?
h. Email blast just before the program launches and video streaming piece during program should be included in the program. e. Approve all recorded ads before airing. Approve of all printed materials Email or Website. 3. Sales are done through your website on a count down page.
Friday, October 10, 2008
ENTHUSIASTIC ENDORSEMENT FROM THE RESTAURANT INDUSTRY
This endorsement of The DollarSaver Promotion was published in FohBoh™.com, a restaurant industry publication.
.
Steve on March 17, 2008 at 4:49pm:
Last year I participated in an extremely effective Radio program that involved discounts. For many years people have used trade as a method to be involved in advertising they couldn’t afford otherwise. But because there was little monetary value in the trade for the radio stations, the exposure promised, was usually delegated to filling spots that could not be sold. Read: Very, very early, very late or the middle of the night. Enter a new model where trade can be converted to cash for the radio station:
Here’s how it works: •You buy a weeks worth of advertising with gift certificates. The radio station promotes the heck out of you for that week and sends people to their website where their listeners can purchase a gift certificate for half price. The radio station doesn’t make a dime until the gift certificates are sold, so they have a vested interest in promoting your restaurant. That’s huge!
•The radio’s web site features your restaurant exclusively during the week of the promotion which includes several links back your restaurants web page resulting in positive SEO because of the additional relevant incoming links.
•The program is measurable both at the time of purchase and upon redemption. At the time of purchase, you can measure how effective each station is by the length of time it takes them to sell your certificates, you know who purchased them, where they live and whether or not they were a unique purchaser or not.
We sold all of the gift certificates, had an 85% redemption rate plus an additional 34% in sales after the discount!
We did not incur any out of pocket cost until the guest redeemed the certificate and then it was only the cost of the product.
Now for the best part! We were able to triple the success of two of our regular annual promotional events by tying them together with the radio promotions. And that was after the discounts were taken!
So, even though I hate discounts there are some that are worth considering. By the way not every station has this program. I had to sell this idea to several stations in our area to get them to participate in this model.
Steve
.
Steve on March 17, 2008 at 4:49pm:
Last year I participated in an extremely effective Radio program that involved discounts. For many years people have used trade as a method to be involved in advertising they couldn’t afford otherwise. But because there was little monetary value in the trade for the radio stations, the exposure promised, was usually delegated to filling spots that could not be sold. Read: Very, very early, very late or the middle of the night. Enter a new model where trade can be converted to cash for the radio station:
Here’s how it works: •You buy a weeks worth of advertising with gift certificates. The radio station promotes the heck out of you for that week and sends people to their website where their listeners can purchase a gift certificate for half price. The radio station doesn’t make a dime until the gift certificates are sold, so they have a vested interest in promoting your restaurant. That’s huge!
•The radio’s web site features your restaurant exclusively during the week of the promotion which includes several links back your restaurants web page resulting in positive SEO because of the additional relevant incoming links.
•The program is measurable both at the time of purchase and upon redemption. At the time of purchase, you can measure how effective each station is by the length of time it takes them to sell your certificates, you know who purchased them, where they live and whether or not they were a unique purchaser or not.
We sold all of the gift certificates, had an 85% redemption rate plus an additional 34% in sales after the discount!
We did not incur any out of pocket cost until the guest redeemed the certificate and then it was only the cost of the product.
Now for the best part! We were able to triple the success of two of our regular annual promotional events by tying them together with the radio promotions. And that was after the discounts were taken!
So, even though I hate discounts there are some that are worth considering. By the way not every station has this program. I had to sell this idea to several stations in our area to get them to participate in this model.
Steve
Monday, September 29, 2008
BUSINESS DECLINE FOR RADIO CONTINUES-----RBR.com and RICK'S OBSERVATION--(September '08)
RADIO NEWS---9-17-08
August continues the parade of potholes (9-17-08)
CL King analyst Jim Boyle thinks that when the Radio Advertising Bureau releases its revenue results for month of August, it'll be talking about a decline of -8% or -9%. That actually would come in at or better than the Wall Street consensus for the beleaguered industry which Boyle says is caught in the grip of simultaneous secular and cyclical challenges. It'll certainly be the 16th red month in a row. Boyle expects publicly-traded groups will beat these numbers by 3%-4%. The pace for Q3 seems to be -6%, matching Q2 results. He notes that small market groups are still doing much better than their large-market colleagues, which he attributes to their old-time business values. "When we listen to radio veterans, they often describe the small market successes as simply 'old radio,'" said Boyle. "Before the groups built unwieldy giant platforms that had corporate/regional management too far removed from the local pulse, distant from local audience and Main Street clients, there was local 'Old Radio' and it used to grow sales 6%-8%.
RADIO NEWS --- 9-18-08
Radio's red plague continues
Who woulda thunk that CL King's Jim Boyle was overly optimistic the other day when he predicted that radio was going to drop 8%-9% year-over-year for August? Well, he was. The gruesome numbers from the Radio Advertising Bureau and Miller Kaplan Arase & Co. included double digits in all categories. Local was down -11%. National was down -14%, for a total spot loss of -12%. Off air, the category formerly known as non-spot, enjoyed a positive double digit gain of +10%, but due to its relatively low volume, it was only able to shave 1% off of radio's total loss, bringing the month home at -11%.
RBR observation:
We remember back when we were just children. In the market where we grew up, Washington DC, WMAL-AM owned our dad. Owned him. From Harden and Weaver during AM drive through Bill Mayhugh overnight, and in every daypart in between - and he was awake at one time or another through all these dayparts - the radio was tuned to WMAL. Us kids were probably around for enough of this to qualify as very young P1s ourselves. You'd think Washington would be one of the toughest places to do this, with so many people coming in and out of town with the ever shifting political winds. Is anybody out there building this kind of a radio community anywhere these days? Or is it a relic to be put in the museum next to the town crier?
RICK'S OBSERVATION:
Jim Boyle continues to hit the problem squarely on the head with his brilliant observations. Let's read between the lines when he says, "...small market groups are doing much better..." and "...listen to radio veterans, they often describe the small market successes as simply 'old radio," and ..."groups built unwieldy giant platforms that had corporate/regional management too far removed from the local pulse, distant from local audience and Main Street clients, there was local 'Old Radio' and it used to grow sales 6%-8%."
Is Mr. Boyle saying history repeats itself? If anything, we can learn from history and the history of broadcasting certainly took a turn for the worse when huge corporate entities took the local out of local radio!
So what now, fellow broadcasters? Are we going to wring our hands and wonder how low it will go or shall we take some local steps to find new ways to bring in those local dollars. The DollarSaver Program is working for those stations that have taken on this promotion. Selling certificates to your audience from your local merchants at a discount through the station's website is bringing in new money, getting new clients to believe that radio works, and turning those "no's" into a close! What would $100,000 per year mean to your bottom line? What could you do with an extra $5-10,000 per month? Just imagine that money coming in, through your website, with no extra work or time spent! Yeah, I know, sounds too good to be true. Any of our stations will tell you how quickly money came in the first day! Let your counterparts from Maine to Arizona tell you their success stories. The DollarSaver Program is a Dollar Maker from the day you launch. Email me for more information.
Rick Snyder
General Manager, Florida
The DollarSaver Program
www.dollarsaverprogram.com
561-635-0413
rickdollarsaver@bellsouth.net
August continues the parade of potholes (9-17-08)
CL King analyst Jim Boyle thinks that when the Radio Advertising Bureau releases its revenue results for month of August, it'll be talking about a decline of -8% or -9%. That actually would come in at or better than the Wall Street consensus for the beleaguered industry which Boyle says is caught in the grip of simultaneous secular and cyclical challenges. It'll certainly be the 16th red month in a row. Boyle expects publicly-traded groups will beat these numbers by 3%-4%. The pace for Q3 seems to be -6%, matching Q2 results. He notes that small market groups are still doing much better than their large-market colleagues, which he attributes to their old-time business values. "When we listen to radio veterans, they often describe the small market successes as simply 'old radio,'" said Boyle. "Before the groups built unwieldy giant platforms that had corporate/regional management too far removed from the local pulse, distant from local audience and Main Street clients, there was local 'Old Radio' and it used to grow sales 6%-8%.
RADIO NEWS --- 9-18-08
Radio's red plague continues
Who woulda thunk that CL King's Jim Boyle was overly optimistic the other day when he predicted that radio was going to drop 8%-9% year-over-year for August? Well, he was. The gruesome numbers from the Radio Advertising Bureau and Miller Kaplan Arase & Co. included double digits in all categories. Local was down -11%. National was down -14%, for a total spot loss of -12%. Off air, the category formerly known as non-spot, enjoyed a positive double digit gain of +10%, but due to its relatively low volume, it was only able to shave 1% off of radio's total loss, bringing the month home at -11%.
RBR observation:
We remember back when we were just children. In the market where we grew up, Washington DC, WMAL-AM owned our dad. Owned him. From Harden and Weaver during AM drive through Bill Mayhugh overnight, and in every daypart in between - and he was awake at one time or another through all these dayparts - the radio was tuned to WMAL. Us kids were probably around for enough of this to qualify as very young P1s ourselves. You'd think Washington would be one of the toughest places to do this, with so many people coming in and out of town with the ever shifting political winds. Is anybody out there building this kind of a radio community anywhere these days? Or is it a relic to be put in the museum next to the town crier?
RICK'S OBSERVATION:
Jim Boyle continues to hit the problem squarely on the head with his brilliant observations. Let's read between the lines when he says, "...small market groups are doing much better..." and "...listen to radio veterans, they often describe the small market successes as simply 'old radio," and ..."groups built unwieldy giant platforms that had corporate/regional management too far removed from the local pulse, distant from local audience and Main Street clients, there was local 'Old Radio' and it used to grow sales 6%-8%."
Is Mr. Boyle saying history repeats itself? If anything, we can learn from history and the history of broadcasting certainly took a turn for the worse when huge corporate entities took the local out of local radio!
So what now, fellow broadcasters? Are we going to wring our hands and wonder how low it will go or shall we take some local steps to find new ways to bring in those local dollars. The DollarSaver Program is working for those stations that have taken on this promotion. Selling certificates to your audience from your local merchants at a discount through the station's website is bringing in new money, getting new clients to believe that radio works, and turning those "no's" into a close! What would $100,000 per year mean to your bottom line? What could you do with an extra $5-10,000 per month? Just imagine that money coming in, through your website, with no extra work or time spent! Yeah, I know, sounds too good to be true. Any of our stations will tell you how quickly money came in the first day! Let your counterparts from Maine to Arizona tell you their success stories. The DollarSaver Program is a Dollar Maker from the day you launch. Email me for more information.
Rick Snyder
General Manager, Florida
The DollarSaver Program
www.dollarsaverprogram.com
561-635-0413
rickdollarsaver@bellsouth.net
Friday, September 26, 2008
AD AGE MEDIA WORKS ARTICLE---Radio CEOs See Blazingly Hot Business and RICK'S RESPONSE---SEPTEMBER '08
_____________________________________
Radio CEOs See Blazingly Hot Business
But Advertisers View Medium as Cold Dinosaur
By Andrew Hampp Published: September 25, 2008
NEW YORK (AdAge.com) -- Radio has achieved what few other traditional media can claim -- audience growth, to the tune of some 4 million new listeners in the past three years, with more than 235 million people tuning in to AM or FM radio each week. But as Jeff Smulyan, president-CEO of Emmis Radio, said at the New York Market Radio CEO Summit yesterday, "The radio business is on fire. But on Madison Avenue, we may be considered a dinosaur."
New initiatives
That's why the radio industry's biggest initiatives in recent months have been all about embracing new media, from building their own music-recommendation products such as Clear Channel's eRockster and CBS Radio's Play.It to a new partnership with Microsoft's Zune that enables radio listeners to purchase songs they hear on more than 450 radio stations from their Zune FM tuner. Mr. Smulyan is also spearheading the industry's next big distribution initiative -- to make radio available on all cell phones.
"It's not a performance problem, it's a perception problem," Mr. Smulyan said of radio's current role in the overall media landscape. "There's a disconnect between what we are able to do and advertisers, agencies and buyers. Broadcasters are every bit as passionate as they used to be. But we don't have much leverage because of the perception that radio is dated."
As recently as five years ago, the radio industry tended to view digital music stores and streaming radio sites as threats, Clear Channel Radio CEO John Hogan said. "It's extremely important for us to recognize these platforms as opportunities. We're looking at partnerships with all kinds of people."
CBS Radio CEO Dan Mason said he has already seen incremental benefits of streaming with some of his top stations online. "For a company that didn't stream a radio station five years ago, we're getting over 200,000 listeners every day. The interesting thing about this audience is you can watch them tune in on a minute-by-minute, hour-by-hour basis."
Creatives tune out
Radio has also suffered from a disconnect with the creative community, as less and less agencies are equipped to produce audio commercials. Peter Smyth, president-CEO of Greater Media, said, "The problem with creatives is they don't see radio as something they want to write for. It's important and we really have to tap into those people."
Mr. Hogan added, "The worst thing radio can do is expect people can come to the medium. Radio people have developed a sense of entitlement. The phone's not ringing as frequently as it used to. We have to get back to focusing on great ideas. We want radio to get seven or eight pieces of the pie."
Your Opinion...Published: September 25, 2008
Radio CEOs See Blazingly Hot Business
Rick's Comments:
Come on, you guys. Let's look at us, not them. Jeff Smulyan says, "The radio business is on fire, but Madison Avenue says we're a dinosaur. It's a perception problem, a disconnect between radio and agencies...."we're passionate but we don't have leverage because they think we're dated." As a radio "lifer" the passion that I knew came from local management competing with other local management. From local dj's out performing their competition. Local salespeople battling for dollars from their local merchants.
Today, corporate ownership has lost sight of "local" what with "regional managers" overlooking stations that get their programming "off the bird." I recently worked for a 4 station cluster that had 3 live announcers for all 4 stations. How can you have passion when you're working so hard for so many stations, you don't have time to return phone calls. Where's the competitive fire when you're competing with yourself? And corporate ownership, so focused on making a profit, has killed the creativity by cutting staffing to a minimum. Peter Smyth says that we need to tap into the "creative community because they don't want to write for radio." We should be creating our own excitement and not looking outside the business for a handout. John Hogan said the phones don't ring like they used to. That's because there are no hot local jocks to promote the phone number, to relate to the local audience. The phones not ringing, John, because we're burning thru sales people by the hundreds. Hiring more and more inexperienced rookies for no money hoping they'll get it and then not training them properly and watching them fail time and time again. Hiring competent sales people should mean paying a good wage for their experience, not giving them a draw and hoping they succeed. We do have to get back to focusing on great ideas. But we'll need more idea people in our buildings to put that kind of energy into motion.
I'm now a partner in a broadcasting consulting company that creates a revenue stream thru stations websites. Our product absolutely brings dollars in and we work on straight commission so if we don't work out it doesn't cost the radio station a dime. I can't reach station managers because they don't have time to talk to me. How is that possible that I'm offering to work for free, 7 days a week, 24 hours a day, and they don't return calls because, as they all say, "I don't have the time!!" Radio's death was predicted in the 40's when TV went on the air, AM stations were going to die because of FM, and terrestrial radio was doomed when satellite radio signed on. None of that happened because broadcasters fought hard to stay alive. Where are the passionate broadcasters that want to win today? Let's look again at the fundamental basics of radio and reconnect with what makes radio really great!
Rick Snyder General Manager, Florida
561-635-0413
The DollarSaver Program
www.dollarsaverprogram.com
Radio CEOs See Blazingly Hot Business
But Advertisers View Medium as Cold Dinosaur
By Andrew Hampp Published: September 25, 2008
NEW YORK (AdAge.com) -- Radio has achieved what few other traditional media can claim -- audience growth, to the tune of some 4 million new listeners in the past three years, with more than 235 million people tuning in to AM or FM radio each week. But as Jeff Smulyan, president-CEO of Emmis Radio, said at the New York Market Radio CEO Summit yesterday, "The radio business is on fire. But on Madison Avenue, we may be considered a dinosaur."
New initiatives
That's why the radio industry's biggest initiatives in recent months have been all about embracing new media, from building their own music-recommendation products such as Clear Channel's eRockster and CBS Radio's Play.It to a new partnership with Microsoft's Zune that enables radio listeners to purchase songs they hear on more than 450 radio stations from their Zune FM tuner. Mr. Smulyan is also spearheading the industry's next big distribution initiative -- to make radio available on all cell phones.
"It's not a performance problem, it's a perception problem," Mr. Smulyan said of radio's current role in the overall media landscape. "There's a disconnect between what we are able to do and advertisers, agencies and buyers. Broadcasters are every bit as passionate as they used to be. But we don't have much leverage because of the perception that radio is dated."
As recently as five years ago, the radio industry tended to view digital music stores and streaming radio sites as threats, Clear Channel Radio CEO John Hogan said. "It's extremely important for us to recognize these platforms as opportunities. We're looking at partnerships with all kinds of people."
CBS Radio CEO Dan Mason said he has already seen incremental benefits of streaming with some of his top stations online. "For a company that didn't stream a radio station five years ago, we're getting over 200,000 listeners every day. The interesting thing about this audience is you can watch them tune in on a minute-by-minute, hour-by-hour basis."
Creatives tune out
Radio has also suffered from a disconnect with the creative community, as less and less agencies are equipped to produce audio commercials. Peter Smyth, president-CEO of Greater Media, said, "The problem with creatives is they don't see radio as something they want to write for. It's important and we really have to tap into those people."
Mr. Hogan added, "The worst thing radio can do is expect people can come to the medium. Radio people have developed a sense of entitlement. The phone's not ringing as frequently as it used to. We have to get back to focusing on great ideas. We want radio to get seven or eight pieces of the pie."
Your Opinion...Published: September 25, 2008
Radio CEOs See Blazingly Hot Business
Rick's Comments:
Come on, you guys. Let's look at us, not them. Jeff Smulyan says, "The radio business is on fire, but Madison Avenue says we're a dinosaur. It's a perception problem, a disconnect between radio and agencies...."we're passionate but we don't have leverage because they think we're dated." As a radio "lifer" the passion that I knew came from local management competing with other local management. From local dj's out performing their competition. Local salespeople battling for dollars from their local merchants.
Today, corporate ownership has lost sight of "local" what with "regional managers" overlooking stations that get their programming "off the bird." I recently worked for a 4 station cluster that had 3 live announcers for all 4 stations. How can you have passion when you're working so hard for so many stations, you don't have time to return phone calls. Where's the competitive fire when you're competing with yourself? And corporate ownership, so focused on making a profit, has killed the creativity by cutting staffing to a minimum. Peter Smyth says that we need to tap into the "creative community because they don't want to write for radio." We should be creating our own excitement and not looking outside the business for a handout. John Hogan said the phones don't ring like they used to. That's because there are no hot local jocks to promote the phone number, to relate to the local audience. The phones not ringing, John, because we're burning thru sales people by the hundreds. Hiring more and more inexperienced rookies for no money hoping they'll get it and then not training them properly and watching them fail time and time again. Hiring competent sales people should mean paying a good wage for their experience, not giving them a draw and hoping they succeed. We do have to get back to focusing on great ideas. But we'll need more idea people in our buildings to put that kind of energy into motion.
I'm now a partner in a broadcasting consulting company that creates a revenue stream thru stations websites. Our product absolutely brings dollars in and we work on straight commission so if we don't work out it doesn't cost the radio station a dime. I can't reach station managers because they don't have time to talk to me. How is that possible that I'm offering to work for free, 7 days a week, 24 hours a day, and they don't return calls because, as they all say, "I don't have the time!!" Radio's death was predicted in the 40's when TV went on the air, AM stations were going to die because of FM, and terrestrial radio was doomed when satellite radio signed on. None of that happened because broadcasters fought hard to stay alive. Where are the passionate broadcasters that want to win today? Let's look again at the fundamental basics of radio and reconnect with what makes radio really great!
Rick Snyder General Manager, Florida
561-635-0413
The DollarSaver Program
www.dollarsaverprogram.com
Monday, August 18, 2008
MONETIZE YOUR P1 LISTENER--RBR.com ARTICLE (January '08)
Radio's string of down months is expected to go to eight when the RAB reports revenue stats for December and CL King analyst Jim Boyle's latest estimate is that the revenue decline will be 2%, which is right in line with the Wall Street consensus. That's hardly good news, though. So, what should radio companies be doing to get the business back on track?
Here's Boyle's advice: "Can a different revenue stream start and sustain a radio rebound? Yes, by monetizing the P-1 listener. Radio groups fetch about 2%-3% of revenue from internet initiatives, but that hasn't stopped 2007 from being a down revenue year. So what else is out there? We would strongly recommend that radio look to the second of its two constituencies. Not just its advertisers, its audience! Radio's most loyal, engaged listeners are dubbed P-1 listeners. We believe radio should sell small local content and branded items to its biggest fans. Consumers have become highly trained by eBay, iTunes, Amazon and others to frequently purchase impulse or planned items via the ease of well-established micro-payments. There will be many failed attempts by Radio to monetize listeners, but potentially some large successes. Most people forget that the cable network that allowed cable to garner non-subscription revenue from the subscriber, Home Shopping Channel, started as a Florida radio show. We also believe radio station personnel and younger employees are more likely to come up with successes than the corporate or top executives. We bet you that no P-1 would ask, what is the cost-per-point of a daily e-mail of the best jokes (on-air and off-air) of the Morning Zoo DJs? Or what is the cost-per-thousand of a station logo baseball cap? Or what is the AQH rating of a mobile flash alert of the latest club event? Radio should establish a second revenue stream or resign itself to being the 'new Newspapers.' A second consumer-fee revenue stream would bolster the industry and excite investors and it could even make radio a creative and fun business again, in our opinion."
Is Boyle on to something, or not? We invite your feedback to radionews@rbr.com.
Here's Boyle's advice: "Can a different revenue stream start and sustain a radio rebound? Yes, by monetizing the P-1 listener. Radio groups fetch about 2%-3% of revenue from internet initiatives, but that hasn't stopped 2007 from being a down revenue year. So what else is out there? We would strongly recommend that radio look to the second of its two constituencies. Not just its advertisers, its audience! Radio's most loyal, engaged listeners are dubbed P-1 listeners. We believe radio should sell small local content and branded items to its biggest fans. Consumers have become highly trained by eBay, iTunes, Amazon and others to frequently purchase impulse or planned items via the ease of well-established micro-payments. There will be many failed attempts by Radio to monetize listeners, but potentially some large successes. Most people forget that the cable network that allowed cable to garner non-subscription revenue from the subscriber, Home Shopping Channel, started as a Florida radio show. We also believe radio station personnel and younger employees are more likely to come up with successes than the corporate or top executives. We bet you that no P-1 would ask, what is the cost-per-point of a daily e-mail of the best jokes (on-air and off-air) of the Morning Zoo DJs? Or what is the cost-per-thousand of a station logo baseball cap? Or what is the AQH rating of a mobile flash alert of the latest club event? Radio should establish a second revenue stream or resign itself to being the 'new Newspapers.' A second consumer-fee revenue stream would bolster the industry and excite investors and it could even make radio a creative and fun business again, in our opinion."
Is Boyle on to something, or not? We invite your feedback to radionews@rbr.com.
THE DOLLARSAVER PROGRAM IS A DOLLAR MAKER
RADIO IS A NUMBERS GAME! CHECK THESE NUMBERS OUT.
A 2007 Arbitron, Edison Media research study*, said that consumers considered radio most essential to their lives at a response rate of 17%.
THE INTERNET RESPONSE RATE WAS 33%
In 2002 radio scored 26% and the internet 20%!
A phenomenal +45% growth for the internet, and an uncomfortable -35% drop for radio!
eMarketer, Inc.*, says;
“The Internet is projected to bill $28 Billion dollars in 2008, $34 Billion dollars in 2009 (+21%), and $39 Billion dollars in 2010. (+14%).
RADIO BILLINGS ARE PROJECTED TO STAY FLAT FOR THE NEXT 3 YEARS AT BETWEEN $21 AND $22 BILLION DOLLARS.” (+1.6% PER YEAR)
The economy is shaky. Budgets are being cut. It’s hard to find good sales people. Rates are dipping. The audience is shrinking. There’s never enough time in the day to get everything done. The Big Corporation competition is relentless. And money is tight. HAVE ANY GREAT IDEAS? We do!
EXPERIENCED BROADCASTERS CREATE NTR PROGRAM THAT BENEFITS SALES, PROGRAMMING, PROMOTION, YOUR LISTENERS AND THE BOTTOM LINE!
We’re The DollarSaver Program and we have a proven system that creates a revenue stream through radio stations’ web sites. Our market exclusive DollarSaver Franchise is now working in Concord and Keene, NH, Portland, ME, Rhinebeck, NY, Barre, Vt. Corpus Christi, TX. and Flagstaff, AZ. Markets ready to launch include Boston, The North Shore and Cape Cod, MA., Tucson, AZ., Nassau The Bahamas, and Kailua Kuna, Hi.
It’s all pretty simple and it brands your station as caring about the community by offering money saving certificates online. Your sales team secures the certificates from local merchants. The information goes onto your custom-designed web page on the DollarSaver Program’s E-commerce site. Your promotion department drives listeners to your website to click on the DollarSaver Icon. Listeners immediately start saving 30-50% on the things they buy -- as the certificates are instantly printed on your buyers' printer. Programming gets the word out to your audience that you are thanking them for listening by saving them money through the DollarSaver Program.
WE'LL DO (ALMOST) ALL THE WORK-
WHILE YOUR LISTENERS PAY YOUR CLIENT'S BILL!
The DollarSaver Program is available in your market right now. It’s not free – but close to it. Our low cost set up fee is only $500. That’s all. No more. Ever. Your store will open, cash will come pouring in but you won’t have to send out a bill or an affidavit. There will never be a list of receivables because your listeners will be paying, in advance, for your client’s advertising -- even those clients that hate your station, don’t have any money, and have said no to you over and over!
Hey, this won’t replace your cash business, and won’t even get you close to 22 billion dollars, but it will position you as the station that saves its audience money. It will jump-start a revenue stream through your website, and show your toughest clients that radio gets results as the certificates start to show up in payment for their goods and services.
Does the program really work? Could you be running $10,000+ a month through your station’s website? Ask WJYY’s general sales manager, Pete Detone (603-228-9036) about his recent success with The DollarSaver Program. Ask Doug Finck of WPXT-TV in Portland, Maine how The DollarSaver is bringing added revenue to his station (207-774-0051). Nassau Broadcasting's Bob Cox is finding great success (603-352-9230). And Flagstaff's Eagle 103.7, one of our newer stations, is making money every week (Paul Lancaster 928-779-1800).
DollarSaver works 24 hours a day, 7 days a week. We never take a sick day. We don’t need insurance or F.I.C.A.. And we never, ever, take a vacation or ask for a raise.
We do all the paperwork, all the internet set up, all the accounting, all the sales reports -- and we never complain about the boss. The DollarSaver Program will come to your station to train your sales staff. We’ll make calls with them and even close a couple of clients before we leave. And like a good salesperson, The DollarSaver Program works on straight commission. If we don’t work, we don’t get paid.
RISK FREE OPPORTUNITY WITH FULL REFUND AVAILABLE
The DollarSaver Program was designed and developed by broadcasters with more than 100 combined years in the business … so we know the challenges our industry is facing. We know after 15 years of development, the DollarSaver Program is ready to go to work for your station. And we’re so confident that our system will bring dollars into your station through your website, that we can make this offer: If, within 90 days of launching The DollarSaver Program, you haven’t covered the cost of your station’s set-up, we’ll refund the cost to you!
When done right, this system creates loyalty with your listeners, excitement for your station in the marketplace and demonstrates to your toughest clients that radio works! This is an ongoing, market exclusive, win-win-win promotion!
Email or call me for more information. I promise not to sell you -- but to tell you -- more about The DollarSaver Program. If you’re interested and feel that your stations are willing to take a serious look at this risk free opportunity, we’ll arrange an in person meeting for a full presentation. You’ve got to want to do this program or it won’t work. It’s that simple.
Let’s talk for 15 minutes. And as a thank you for your time on the phone, I’ll send you a very valuable report called “Saving Radio" along with a report from C.L. King and Associates on “How to Monetize Your P1 Listener.” I know we’ll both be wiser after speaking to each other. I’m looking forward to answering your questions.
Thanks in advance for your time.
Rick
P.S: Want to see the DollarSaver program in action? Go to www.wjyy.com or www.ourmaine.com and look for the DollarSaver icon. Click it and browse the stores. Hey, maybe you’ll buy something!
Rick Snyder
Partner/Regional Manager
The DollarSaver Program
561-635-0413 (direct line)
www.dollarsaverprogram.com
rickdollarsaver@bellsouth.net
*Source: www.internetretailer.com...August 28, 2007
A 2007 Arbitron, Edison Media research study*, said that consumers considered radio most essential to their lives at a response rate of 17%.
THE INTERNET RESPONSE RATE WAS 33%
In 2002 radio scored 26% and the internet 20%!
A phenomenal +45% growth for the internet, and an uncomfortable -35% drop for radio!
eMarketer, Inc.*, says;
“The Internet is projected to bill $28 Billion dollars in 2008, $34 Billion dollars in 2009 (+21%), and $39 Billion dollars in 2010. (+14%).
RADIO BILLINGS ARE PROJECTED TO STAY FLAT FOR THE NEXT 3 YEARS AT BETWEEN $21 AND $22 BILLION DOLLARS.” (+1.6% PER YEAR)
The economy is shaky. Budgets are being cut. It’s hard to find good sales people. Rates are dipping. The audience is shrinking. There’s never enough time in the day to get everything done. The Big Corporation competition is relentless. And money is tight. HAVE ANY GREAT IDEAS? We do!
EXPERIENCED BROADCASTERS CREATE NTR PROGRAM THAT BENEFITS SALES, PROGRAMMING, PROMOTION, YOUR LISTENERS AND THE BOTTOM LINE!
We’re The DollarSaver Program and we have a proven system that creates a revenue stream through radio stations’ web sites. Our market exclusive DollarSaver Franchise is now working in Concord and Keene, NH, Portland, ME, Rhinebeck, NY, Barre, Vt. Corpus Christi, TX. and Flagstaff, AZ. Markets ready to launch include Boston, The North Shore and Cape Cod, MA., Tucson, AZ., Nassau The Bahamas, and Kailua Kuna, Hi.
It’s all pretty simple and it brands your station as caring about the community by offering money saving certificates online. Your sales team secures the certificates from local merchants. The information goes onto your custom-designed web page on the DollarSaver Program’s E-commerce site. Your promotion department drives listeners to your website to click on the DollarSaver Icon. Listeners immediately start saving 30-50% on the things they buy -- as the certificates are instantly printed on your buyers' printer. Programming gets the word out to your audience that you are thanking them for listening by saving them money through the DollarSaver Program.
WE'LL DO (ALMOST) ALL THE WORK-
WHILE YOUR LISTENERS PAY YOUR CLIENT'S BILL!
The DollarSaver Program is available in your market right now. It’s not free – but close to it. Our low cost set up fee is only $500. That’s all. No more. Ever. Your store will open, cash will come pouring in but you won’t have to send out a bill or an affidavit. There will never be a list of receivables because your listeners will be paying, in advance, for your client’s advertising -- even those clients that hate your station, don’t have any money, and have said no to you over and over!
Hey, this won’t replace your cash business, and won’t even get you close to 22 billion dollars, but it will position you as the station that saves its audience money. It will jump-start a revenue stream through your website, and show your toughest clients that radio gets results as the certificates start to show up in payment for their goods and services.
Does the program really work? Could you be running $10,000+ a month through your station’s website? Ask WJYY’s general sales manager, Pete Detone (603-228-9036) about his recent success with The DollarSaver Program. Ask Doug Finck of WPXT-TV in Portland, Maine how The DollarSaver is bringing added revenue to his station (207-774-0051). Nassau Broadcasting's Bob Cox is finding great success (603-352-9230). And Flagstaff's Eagle 103.7, one of our newer stations, is making money every week (Paul Lancaster 928-779-1800).
DollarSaver works 24 hours a day, 7 days a week. We never take a sick day. We don’t need insurance or F.I.C.A.. And we never, ever, take a vacation or ask for a raise.
We do all the paperwork, all the internet set up, all the accounting, all the sales reports -- and we never complain about the boss. The DollarSaver Program will come to your station to train your sales staff. We’ll make calls with them and even close a couple of clients before we leave. And like a good salesperson, The DollarSaver Program works on straight commission. If we don’t work, we don’t get paid.
RISK FREE OPPORTUNITY WITH FULL REFUND AVAILABLE
The DollarSaver Program was designed and developed by broadcasters with more than 100 combined years in the business … so we know the challenges our industry is facing. We know after 15 years of development, the DollarSaver Program is ready to go to work for your station. And we’re so confident that our system will bring dollars into your station through your website, that we can make this offer: If, within 90 days of launching The DollarSaver Program, you haven’t covered the cost of your station’s set-up, we’ll refund the cost to you!
When done right, this system creates loyalty with your listeners, excitement for your station in the marketplace and demonstrates to your toughest clients that radio works! This is an ongoing, market exclusive, win-win-win promotion!
Email or call me for more information. I promise not to sell you -- but to tell you -- more about The DollarSaver Program. If you’re interested and feel that your stations are willing to take a serious look at this risk free opportunity, we’ll arrange an in person meeting for a full presentation. You’ve got to want to do this program or it won’t work. It’s that simple.
Let’s talk for 15 minutes. And as a thank you for your time on the phone, I’ll send you a very valuable report called “Saving Radio" along with a report from C.L. King and Associates on “How to Monetize Your P1 Listener.” I know we’ll both be wiser after speaking to each other. I’m looking forward to answering your questions.
Thanks in advance for your time.
Rick
P.S: Want to see the DollarSaver program in action? Go to www.wjyy.com or www.ourmaine.com and look for the DollarSaver icon. Click it and browse the stores. Hey, maybe you’ll buy something!
Rick Snyder
Partner/Regional Manager
The DollarSaver Program
561-635-0413 (direct line)
www.dollarsaverprogram.com
rickdollarsaver@bellsouth.net
*Source: www.internetretailer.com...August 28, 2007
RBR.com---DOLLAR SAVER ARTICLE--MONDAY 8-18-08
Our company, The DollarSaver Program, is finding that radio station operators are too busy to listen to great ideas that can make them money. They're stuck with traditional ways of doing business and don't have the time or the guts to make fundamental changes in order to continue to compete. They do the same things, over and over, hoping the next new sales person they hire or the next format change will be the magic bullet to make everything right. It's not going to happen when you simply repeat failure after failure. You've got to suck it up and move forward before it's too late.
Lots of stations are currently selling certificates on the air through their websites, at a discount. Its lots of busy work for the already short-staffed stations and that keeps the money from really rolling in. The DollarSaver program is doing online business now with stations from Maine to Arizona, generating exchange based revenue through station's websites by posting local merchant's certificates that sell for a discount. There's no billing statements or affidavits to send out, never any receivables, and the certificates print out immedialty after the transaction is completed! The listener pays for the client's advertising, in advance, via the radio station’s website and The DollarSaver’s sophisticated E-commerce program does all the work!
We've got success stories to back up our good work. One of our stations did over $22,000 in July and our Deal of the Week promotion sells out client certificates in minutes! We're helping stations make believers out of non-radio clients. And our station's audiences love it; after all they're saving 30-50% on things they buy.
The DollarSaver program is owned and operated by broadcasters so we know the challenges of today's broadcasting business. We work hard to help stations make money through their websites and like the best professional salespeople, we do it on straight commission.
We think it's time that radio stations start making fundamental changes in the way we're doing our business and take a running leap into the 21st century. Making money with your website is no longer a pipedream, it’s a necessity. If radio station managers don’t start now, you'll be left wondering why techniques that worked in the 20th century are keeping you from success today. Do it yourself or let someone show you the way, but its time now to get a jump on the competition and monetize your audience through your website.
Rick Snyder
General Manger, Florida
The DollarSaver Program
www.dollarsaverprogram.com
rickdollarsaver@bellsouth.net
561-635-0413
Lots of stations are currently selling certificates on the air through their websites, at a discount. Its lots of busy work for the already short-staffed stations and that keeps the money from really rolling in. The DollarSaver program is doing online business now with stations from Maine to Arizona, generating exchange based revenue through station's websites by posting local merchant's certificates that sell for a discount. There's no billing statements or affidavits to send out, never any receivables, and the certificates print out immedialty after the transaction is completed! The listener pays for the client's advertising, in advance, via the radio station’s website and The DollarSaver’s sophisticated E-commerce program does all the work!
We've got success stories to back up our good work. One of our stations did over $22,000 in July and our Deal of the Week promotion sells out client certificates in minutes! We're helping stations make believers out of non-radio clients. And our station's audiences love it; after all they're saving 30-50% on things they buy.
The DollarSaver program is owned and operated by broadcasters so we know the challenges of today's broadcasting business. We work hard to help stations make money through their websites and like the best professional salespeople, we do it on straight commission.
We think it's time that radio stations start making fundamental changes in the way we're doing our business and take a running leap into the 21st century. Making money with your website is no longer a pipedream, it’s a necessity. If radio station managers don’t start now, you'll be left wondering why techniques that worked in the 20th century are keeping you from success today. Do it yourself or let someone show you the way, but its time now to get a jump on the competition and monetize your audience through your website.
Rick Snyder
General Manger, Florida
The DollarSaver Program
www.dollarsaverprogram.com
rickdollarsaver@bellsouth.net
561-635-0413
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