Industry Views

Monday Memo: “Try this…”

By Holland Cooke
Consultant

Companies hire consultants to avoid experiments. We improve results by customizing and implementing Best Practices proven elsewhere. So, I’m about to break a rule, because advertisers in a super-opportune category have become a noisy blur.

Personal Injury: The gift that keeps-on-giving

Legal representation of purported victims of fender benders, slip-and-fall accidents, and other “injuries caused by the negligent, careless, or reckless actions of others” is an industry in which supply exceeds demand. Thus, all the outdoor and TV advertising. And too little radio.

In the Providence, RI TV market I watch at home, this category stands shoulder-to-shoulder with look-alike automotive spots in sheer dollars over-spent. And their message is the same on billboards:

— The attorney’s head shot (also a real estate agent cliché); and

— 6-figure settlements touted.

Because they’re all shouting the same thing, they resort to tactics:

— Attorney Rob Levine is “The Heavy Hitter,” and runs enough TV that viewers in Southern New England can sing the jingle: “The Heavy Hitter is the one for you. Call one-eight-hundred-law-one-two-two-two.” To his credit, it’s a different phone number than his web site offers, so he can track TV results.

— Easier to remember: Bottaro Law: 777-7777.

Watching local Las Vegas TV while at CES recently was a deep dive into Law advertising. The pitch from several I saw was we charge less, like a shameless radio competitor dropping-trou’ to get the entire buy.

If we don’t win, you don’t pay

 “What are your rights? What is your case worth?” Possibly a cash amount divisible-by-3, if that’s the attorney’s contingency.

Those expensive nationally syndicated TV spots (customized for the local firm) depict fearful insurance executives eager to settle. And the attorney may threaten that, “if they don’t, we’ll beat ‘em in court.” Baloney, that’s the last thing the lawyer wants. Too time-consuming and risking a losing verdict.

Like radio commercials, attorneys’ inventory is perishable

— We can’t sell yesterday’s empty spot avail; and lawyers’ closing opportunity is “B.I.S.,” Butts In Seats for that free, no-obligation consultation, in-person, where the seller goes for the close.

— If nobody was sitting in that chair today (“intake”), no sale.

— And that’s how attorneys are missing a bet not using radio.

“The lawyer is in, the meter is off”

 That’s the proposition when they field listener calls in brokered weekend talk radio shows.

— DONE RIGHT, these shows can run-rings-around TV and outdoor ROI.

— Forgive caps lock in that last sentence, but it’s a crying shame how – at too many stations – the audition for pay-for-play weekend talkers is the-check-didn’t-bounce. One of the things I do for client stations is coach-up weekend warriors — in hosting fundamentals that are second-nature to us — but not to non-career broadcasters. Results = renewals. Otherwise brokered hosts churn, a management distraction, and upsetting listening habits.

— Occasionally, in markets where I don’t even have a client station, I’m working with lawyers (and real estate agents, financial advisors, foodies, and other ask-the-expert hosts), because nobody at the station is doing airchecks with them.

— No billboard or tacky TV spot can humanize the attorney – and demonstrate the comforting counsel – like eavesdropping on a conversation with a caller’s relatable situation.

Think “sales funnel”


We know how to make the phone ring, specific dance steps. The more callers, the better.

— When lines are full, screeners can choose callers whose dilemma is in the attorney’s lane. If, for instance, the host specializes in Personal Injury (or “Family Law,” translation divorce; or another specialty), calls about real estate transactions are off-topic.

— Do this right, and – before the host can offer – callers will often ask “May I call you in the office on Monday?”

Admittedly, this is an experiment…

…because I am frustrated witnessing all this noisy me-too advertising.

Personal Injury cases are he-said-she-said. So try this, and tell me if it works.

— Sales 101: That first call is Needs Assessment, right? Know the prospect’s pain.

— Yet too many radio reps resemble Herb Tarlek, telling the station’s story. Amoeba-shaped coverage maps and ratings rankers and rate cards all look alike…like Law firm marketing.

— I’m telling any attorney willing to listen to make four words the centerpiece of the marketing message, and they’re the same four words that turn callers into clients for weekend talkers: “Tell me what happened.”

The Free Prize Inside: Podcasts

Lifting weekend calls to repurpose as on-demand audio is digital marketing value-added.

Holland Cooke (HollandCooke.com) is a consultant working at the intersection of broadcasting and the Internet. He is the author of “Multiply Your Podcast Subscribers, Without Buying Clicks,” available from Talkers books; and “Spot-On: Commercial Copy Points That Earned The Benjamins,” a FREE download; and the E-book and FREE on-air radio features Inflation Hacks: Save Those Benjamins.” Follow HC on Twitter @HollandCooke

Front Page News Industry News

Monday, August 1, 2022

Beasley Broadcast Group 2022 Q2 Net Revenue Rises 8.8%. The first radio-based audio firm to report 2022 second quarter financial data is Beasley Broadcast Group, which reveals net revenue of $64.8 million, an increase of 8.8% over the same period in 2021. The company also reports an operating loss of $5.4 million and a net loss of $14.5 million and explains the losses saying, “The operating loss in the second quarter of 2022 primarily reflects an $8.6 million non-cash impairment loss due to an increase in the discount rate used in the analyses to estimate the fair value of FCC licenses and goodwill in a rising interest rate environment. For the comparable three months ended June 30, 2021, the company recorded $1.5 million of other operating income, net from life insurance proceeds related to the death of George Beasley, the company’s former chairman. As a result of these factors, Beasley reported a net loss of $14.5 million, or a negative $0.48 per diluted share, in the three months ended June 30, 2022, compared to net income of $0.2 million, or $0.01 per diluted share, in the three months ended June 30, 2021.” Beasley CEO Caroline Beasley states, “Beasley delivered another period of strong top-line results in the second quarter, reflecting solid year-over-year growth across all of our revenue sources. Net revenue increased 8.8%, inclusive of a 4.3% rise in audio revenue and a 34.3% rise in digital revenue, with digital accounting for 16.5% of second quarter net revenue. Digital remains a central component of our revenue diversification strategy, and the momentum we are seeing in our digital business is further underpinned by our ability to grow digital revenue 37% on a quarterly sequential basis, while also improving our digital margin. Our new business performance was robust this quarter, as we recorded $7.8 million in new business revenue, representing a 60% increase from the first quarter of 2022 and 16% growth over the comparable prior year period. In addition, we acquired a small white label digital agency at the end of June, which will immediately contribute positive cash flow and synergies. We believe these results continue to demonstrate the inaccuracy of the perception that radio is more challenged than other segments of the technology, media, and telecom sectors… We are keeping a close eye on the declining economic environment and initiated cost reductions beginning in the second quarter. Looking ahead, we will continue to focus on controlling what we can control, maximizing our growth opportunities, managing our expenses and capital structure, serving our audiences and advertisers and delivering results for our stockholders.”

Monday Memo: Review Airchecks…Later. As “automation and syndication have made radio less-local,” consultant Holland Cooke calls talent coaching “a lost art”; and he uses this week’s column to offer tips “for hosts and DJs who feel neglected.” Read more here.

 

Pending Business: The One Thing Every Advertiser Should Know. Radio sales pro Steve Lapa says that any radio seller who wants to be successful has to answer the following question: “What is the one ‘thing’ every advertiser should know about my on-air talent?” In other words, what is the unique selling point that can be connected to your on-air talent and only the talent you represent. Read his column here.

Alex Silverman to Lead Programming at All-News KNX-AM/FM, Los Angeles. News radio programming pro Alex Silverman is moving to Audacy’s KNX-AM/FM, Los Angeles to serve as director of news and programming, effective September 19. He’s been serving with the company as brand manager for the company’s all-news KYW-AM/FM, Philadelphia since 2018. Prior to that, he was assistant director of news and programming at Audacy’s WCBS-AM, New York. In his new role at KNX, Silverman will “oversee the station’s editorial strategy and newsroom, including broadcast and digital operations, with an eye towards audience and revenue growth and engagement on all platforms.” Silverman states, “KNX News is iconic. I can’t wait to work with the amazing team to build the future of the brand and set the agenda for news coverage in Southern California. Thank you to Jeff Federman, Chris Ebbott, Jeff Sottolano and Bill Smee for their confidence in me and commitment to impactful local journalism.” Silverman is a graduate of Syracuse University’s S.I. Newhouse School of Public Communications. He serves on the board of directors of the Radio Television Digital News Association and has been an adjunct instructor at Fordham University, where he designed a course titled, “Social Media for Journalists.” Silverman takes over the role from Ken Charles, who did not renew his contract with the company.

Dwight Jaynes Joins Afternoon Show on ‘Rip City Sports Radio 620.’ Sports talk host Dwight Jaynes is joining Chad Doing at iHeartMedia’s KPOJ, Portland “Rip City Radio 620” as co-host of the “Rip City Drive” program that airs from 3:00 pm to 6:00 pm. Jaynes, also known as “The Godfather,” spent 25 years as a sports columnist for the Oregon Journal and The Oregonian covering the NBA’s Trail Blazers and has co-written two books about the team. He also spent 11 years at NBC Sports Northwest, hosting “Talkin’ Ball” and “Posting Up.” Prior to that, Jaynes hosted the “Morning Sports Page” show alongside Doing on KXTG-FM, Portland. Doing says, “I am thrilled to be reunited with my former partner. Dwight is a Hall of Famer for good reason – no one has more experience covering Oregon sports. I look forward to making compelling radio with him every day. His sports knowledge and storytelling are unmatched.” Jaynes comments, “I am beyond excited to return to sports talk radio – especially with my old partner Chad Doing – who I believe to be one of the best in the country. The best part of our shows has always been our willingness to take on the tough issues – sports or otherwise – and find creative ways to shape discussion and opinion. At the same time, you never quite know what we’re going to do next… because we don’t!”

Clay Travis & Buck Sexton Interview Trump at LIV Golf Tourney in Bedminster, New Jersey. Pictured above with former President Donald Trump are Premiere Networks syndicated talk hosts Clay Travis (left) and Buck Sexton (right) at the Trump National Golf Club in Bedminster, New Jersey, the site of the LIV Golf tournament. Trump joined the duo live on their show discussing such topics as recession, China and Taiwan, and whether he’ll run for president in 2024, about which he said, “Very hard for me not to run to be honest. And also the polls indicate from the Republican standpoint it would be easy. And I think I was up 11 points on Biden the other day… I don’t know why 11… If you guys ran, you’d be up more than 11… In my mind, I’ve already made the decision.”

Stacey Thomas Named Director of Marketing for iHeartMedia Philly. Eighteen-year iHeartMedia Philadelphia staffer Stacey Thomas is promoted to director of marketing and promotions for the cluster that includes sports talk WDAS-AM “The Gambler” and WTEL “BIN: Black Information Network.” In this role, Thomas will oversee the Philadelphia brand portfolio and will be responsible for developing, planning, and directing all marketing and promotions efforts. She previously served the cluster as media integration director. iHeartMedia Philadelphia market president Jeff Moore says, “It has been remarkable working alongside Stacey and watching her persevere through numerous changes and challenges. A tireless worker who puts the needs of iHeart Philly above all else will now get the chance to put her stamp on the promotions department in a time when making deep and meaningful relationships with our audiences and partners couldn’t be more important.”

Ava Lynn LaRue Named Inaugural MIW Mentee in Minnesota. The Mentoring and Inspiring Women in Radio, Inc and the Minnesota Broadcasters Association announce that Ava Lynn LaRue is named the inaugural mentee for the “MIW Mentoring and Inspiring Women in Minnesota” program. This partnership between the two organizations is led by MBA president Wendy Paulson and is MIW’s newest mentoring opportunity and the start of its three-to-five year strategic plan to partner with state broadcast associations across the United States and assist in building in-house, ongoing programs devoted to coaching and guiding the next generation of radio professionals. LaRue is the station manager for Q-Media Group, LLC in Red Wing, Minnesota. MIW board president Ruth Presslaff says, “Lightning struck twice! Partnering with Wendy has been positive, productive, and way fun. And then to meet the powerhouse Ava LaRue and have the opportunity to work with her is what the MIWs are all about. Thanks MBA, Wendy, and Ava!” Paulson adds, “A huge ‘thank you’ to all of the incredible women who applied to participate in the 2022 ‘MIW Mentoring and Inspiring Women in Minnesota’ program! The judging committee was blown away by the depth of talented women that applied to be part of this pilot mentorship program!”

Biden’s Energy & Health Bill, Inflation Reduction Act, November Midterms/2024 Presidential Race, COVID-19/Biden Positive Again, Pelosi’s Asia Trip, Russia-Ukraine War/Global Food Crisis, Deadly Kentucky Floods/Western Wildfires, Monkeypox, and Nichelle Nichols & Bill Russell Die Among Top News/Talk Stories Over the Weekend. The fate of President Joe Biden’s energy & healthcare bill; debate over the SchumerManchin authored Inflation Reduction Act; November’s midterm elections and the 2024 presidential race; the rate of BA.5 subvariant infections in the U.S. and Biden’s testing positive again; House Speaker Nancy Pelosi’s trip to Asia and China’s threats if she visits Taiwan; the Russia-Ukraine war and its effects on the global food supply; the continuing threats of flooding in Eastern Kentucky and the Western wildfires; the growing monkeypox epidemic; and actress Nichelle Nichols and basketball legend Bill Russell pass away were some of the most-talked-about stories on news/talk radio over the weekend, according to ongoing research from TALKERS magazine.  

Advice

Monday Memo: Review Airchecks… Later.

By Holland Cooke
Consultant

 

BLOCK ISLAND, RI — The radio coaching concept seems quaint now:

  • The single-station PD (remember them?) met with local talent (remember them?) at regular intervals to review a recent show. As a young DJ, I was fortunate enough to work for two PDs who sat me down weekly.
  • Most important thing I learned? Each bit has a beginning, middle, and end.

Back to the future:

  • Whole-cluster “Brand Managers” have replaced PDs, mostly managing feeds from syndicated and/or voice-tracked talent.
  • For remaining station-based talent, routine critique is unlikely. That manager is just TOO busy, and might lack the chops.
  • The product suffers, from content of questionable interest, and unkempt execution that tests listeners’ patience.

(more…)