Tag: Lapcom Communications Corp

Industry News

Veteran Radio Industry Executive Steve Lapa Passes

By TALKERS | by TALKERS

BREAKING NEWS:  Details at press time are still sketchy but TALKERS has learned that longtime radio industry executive Steve Lapa passed away this morning (6/28) at the age of 72. Cause of death is not available at press time. Lapa was the CEO and founder of South Florida-based media marketing firm, Lapcom Communications.  He was a widely read TALKERS columnist whose weekly “Pending Business” commentary was a source of information and inspiration to radio sellers across the nation and one of theim trade publication’s most popular features. He also recently appeared as the moderator of the “Generating News/Talk Revenue” panel at the recent TALKERS 2024: Radio and Beyond conference – a role he also played at the 2023 installment of the TALKERS conference. Lapa was highly active as an advisor to Newsmax Media for the past decade in the development of its multimedia operations including Newsmax Radio. Starting on-air, then working through the ranks of programming, production and sales, Steve Lapa, at age 25, became the youngest general manager in the US of a group owned top 30 DMA radio station WGRQ, Buffalo. Continually assigned to lead turnaround properties, Steve focused on delivering revenue and audience growth through the insightful opportunities blending on-air talent creating unique programming with high-profile event partnerships. He quickly became a category innovator. Steve’s first-mover concept, developed in the early era of superstar stadium concerts, proved highly profitable across program channels, talents, and venues at all levels. Steve held upper-level management positions at 28 radio and TV stations for public and privately held companies from South Florida to San Francisco. One of his most recent positions was as VP/GM of talker WFTL, Fort Lauderdale/Miami. After successfully managing and innovating for others, Steve and financial partner Myer Feldman co-founded Ardman Broadcasting of Florida and Cape Cod, to acquire underdeveloped broadcast assets, which were developed then divested at 200-400% returns. Steve went on as founder of his own Lapcom Communications generating the same results at his wholly owned stations.  Lapcom Communications was the parent company for Lapa’s current business activities until his death today.  More information including arrangements will be posted when available.

Industry Views

Pending Business: “Go F-Yourself”

By TALKERS | by TALKERS

By Steve Lapa
Lapcom Communications Corp
President

imWhen it comes to advertisers who cancel, Elon Musk said it loud and clear at the NY Times Dealbook Summit, “Go F-Yourself.” He claimed advertisers who objected to content on X were “blackmailing him with money” by canceling ad campaigns on his X platform.

C’mon, Elon. I guess you never made the sales calls many of us have made pitching Rush Limbaugh, Howard Stern, or any of the many in talk radio who made the dreaded “no buy” list because an advertiser was alienated by their political lean, or content. Maybe Elon forgot that many advertisers feel the feedback of their customers and reflect customer input in their marketing dollars.

Many of us who made those sales calls tried to work alongside the content objections voiced by advertisers. The goal was to earn the advertiser’s dollars, not consider a cancellation as “blackmail.” A loud and clear, “Go F-Yourself,” was and still is the best way to kill the customer, torch the relationship, as your general manager, owner, stockholders, and about everyone including the wife and kids are amazed at your out-of-control rant.

Michael Richards, a.k.a. Kramer of Seinfeld fame, calls it “canceling yourself.” He should know. It seems after careful review Musk may be feeling the pain of his famous F-bomb message to “X” advertisers. Elon is now repackaging his pitch to include an A.I. component that could blunt those content objections. Will A.I. step in and keep the content compatible with the goals and objectives of those advertisers who cancelled X?

Wow, why didn’t I think of that? Eliminate good old-fashioned human judgement to understand the content the advertiser is identifying as incompatible with their goals. Maybe or maybe not. Think about how many of your advertisers listen to your talent and offer you, the seller, content feedback. Like the saying goes, many advertisers buy where they listen.

Back to the F-bomb comment. It is hard to be critical of one of the wealthiest people on the planet, but in this one instance, even a billionaire learned from his missteps. As time passed, perhaps cooler heads prevailed and those at X learned what those of us who made those early “no buy” list sales calls learned:

1. Advertisers who control budgets do not like to be told to “Go F-yourself”

2. Content cancellations are not “blackmail.” Those cancellations are based in:

a. Customer feedback

b. Advertiser culture

c. Misaligned goals

Next time you get the urge to blurt out your frustrations, remember a basic tenet of sales, “Never say anything that is too big to eat.”

Steve Lapa is the president of Lapcom Communications Corp. based in Palm Beach Gardens, FL. Lapcom is a media sales, marketing, and development consultancy. Contact Steve Lapa via email at: Steve@Lapcomventures.com.

Industry Views

Pending Business: Summertime Blues

By TALKERS | by TALKERS

By Steve Lapa
Lapcom Communications Corp
President

imWhen market leaders drop rates, what comes next?

We have all been there. A market leading radio station will review sales, income, profits, pacing, costs and determine the best path to increasing income and reversing a negative sales trend is to strategically reduce, repackage or simply drop rates.

Assume the position of being downstream in audience delivery, which should mirror most reading this column. This is the time of year when many news/talk operators face this never-ending strategic pricing dilemma. Unless you are fortunate enough to sell or manage for the market leader, the trickle-down effect of the market leader dropping rates in a knee-jerk reaction to slow sales can be a 90–120-day revenue and income killer for those living downstream. It can happen in any business, but ad sales are particularly vulnerable as cancellations, market business conditions and weather can often impact the delicate ecosystem of radio ad sales.

Like it or not, very few if any business decision makers wake up shouting, “Gotta buy some radio ads right now!” With Father’s Day behind us (hope you had a good one) and Labor Day in front of us, let us review some basics to help keep our collective eye on the prize and focus on delivering performance through year end.

1. Summer Sales. Like or not, the American retail world we grew up and live in today conditioned us to anticipate and respond to those great summer sales events. July 4th, Labor Day, Back to School, these are all themed marketing opportunities that most of us expect and celebrate. That “Summer Sizzler” sale is not limited to steaks, barbeques, fashion, and vacations. Be creative, go with the flow and work with your teams to be a front runner in the creative packaging opportunities department.

2. Plan to adjust. Keep an idea or two on hold until it is “break the glass” time, then pull the trigger on your adjustment and move fast!

3. Expand your prospecting universe. New business opportunities are the lifeblood of sales. That email you send asking if there is anything happening this season is a necessary evil and without anything compelling to add it is deleted as quickly as you hit send. Be different!

4. Balance your short-term sales panic button with a long-term plan. We all must deal with the uncontrollable competitive variables in our sales environment. But success belongs to those who anticipate, adjust, accommodate, and answer the challenge!

Steve Lapa is the president of Lapcom Communications Corp. based in Palm Beach Gardens, FL. Lapcom is a media sales, marketing, and development consultancy. Contact Steve Lapa via email at: Steve@Lapcomventures.com.

Industry Views

Pending Business: Post-Game

By TALKERS | by TALKERS

By Steve Lapa
Lapcom Communications Corp
President

imIn case you missed it, honesty was on full display at Friday’s TALKERS 2024: Radio and Beyond conference.

Sometimes honest or transparent B2B conversations are difficult to digest. But when the truth is presented in an open forum designed to educate and motivate better to listen closely.

High five to keynoter Glenn Beck who shared his personal journey from the bottom to the top. His keynote was clear, honest messaging. Fame and fortune are no substitute for being true to yourself, honest about why and what you do in this business. What will you contribute that will make a difference? Love him or hate him, Beck is a proven, successful professional at what he does best: make you think.

Straight forward hallway conversations with fellow panelist Vince Benedetto, CEO of Bold Gold Media, were philosophical eye openers. Vince is a young, successful owner operator of small and medium market radio stations. Why is radio perceived as a “still is” good business when all his teams know is today’s success? Did someone tell him sales orders rolled in on fax machines? If that was the case, maybe radio stations should go back to faxing. Vince has no rear-view mirror, no experience with the “good old days” – just today’s and tomorrow’s successful opportunities. I explained to Vince, I’ve worked with the frenemy, and it is the generation ahead of him. We who overlook and assume the basics of over 90% radio listenership. It is us who need a look in the mirror!

A moment of honesty comment from John Caracciolo, CEO of JVC Media, was short and to the point, “Where are the bankers?” Nowhere near most local radio station owner operators. Maybe that will change as more terrestrial radio owners, managers, and talent fast forward embracing the future of digital and social media integration.

The research Salem Media Group SVP Phil Boyce shared was inspiring and thought provoking. His numbers tell the compelling story of audience dynamics and choices, especially when we hear how people are listening to radio for longer periods of time. Does anyone honestly care to pitch that key sales point?

Let’s wrap this column up with three key takeaways from the conference:

1. The radio business is alive but wrestling with a future crowded by aggressive competition from the new digital/social media frontier.
2. Successful leaders need trusted, experienced collaborators. Learn from the great Warren Buffet.
3. It takes passion, commitment, expertise, and a great team to stage the annual TALKERS conference. Thank you, Michael Harrison. I learned a lot!

Steve Lapa is the president of Lapcom Communications Corp. based in Palm Beach Gardens, FL. Lapcom is a media sales, marketing, and development consultancy. Contact Steve Lapa via email at: Steve@Lapcomventures.com.

Industry Views

Pending Business: Upsell

By TALKERS | by TALKERS

By Steve Lapa
Lapcom Communications Corp
President

imAlmost everything I know about pricing strategy I learned from domestic airlines. Guess what? Airlines are at it again and I hope you are watching and learning.

As a young national sales manager, then general manager, based in South Florida in the 80s, I became a student of some of the best competitive marketing strategies ever created. Anyone would be hard pressed to remember all the domestic airline brands that serviced South Florida back then. Off the top of my head, here are the nine I remember: Eastern, Delta, Continental, American, United, US Air, Pan Am, TWA, and for a short time, Florida Airlines. Depending on the routes and time of year, the competition was crazy. Once the fourth quarter holiday season began in these pre-computerized days, last-minute changes kept me at my desk way too long, showing up late for several holiday dinners. Pricing, heavy ups, and copy changes came down with minimal lead time and a mandate of no make goods. Computers were first working their way into radio stations. Inkjet printers were in development and mobile phones were still in the lab at Motorola.

Armed with a desktop calculator, pencil, and yellow pad, I worked feverishly to keep up with the airline marketing tsunami that hit the Miami market leading up to Christmas travel. Our traffic department was the only part of our radio station that worked with computers. Nevertheless, stress and anxiety ruled until all orders were correctly inputted and confirmed. Once the smoke cleared, I decided to learn from our clients, the original pricing disruptors: the airlines of the early 80s.

After visiting with marketing directors, I learned how market demand and inventory were calculated and balanced to determine pricing. Later, I studied how Southwest successfully pre-sold into markets they were about to service. The successful airlines taught me how to improve the execution of “grid card rate management.” How to fine-tune and balance anticipated sell-out levels and integrate seasonality. Later, the art of successful pre-selling became an important part of our mission.

Fast-forward to today’s airline marketing and pricing. It’s all about the upsell. Consider all the options you have once you book that economy ticket. From early boarding, extra legroom, baggage fees, refundable vs. non-refundable tickets, travel insurance, to double the points, etc.

Airline income and profits are still on the post-pandemic upswing. Domestic travelers are out in force, many travelers comfortably participating in the upsell. The strategy is working.

Few if any radio-audio sellers are skilled in upselling. Most managers are not skilled in the upsell strategy and rarely have the time to learn. The concept may feel a little awkward at first, but once you understand how to work with the spectrum of assets your platforms can offer, the upsell strategy can help increase your sales as you help your clients!

Steve Lapa is the president of Lapcom Communications Corp. based in Palm Beach Gardens, FL. Lapcom is a media sales, marketing, and development consultancy. Contact Steve Lapa via email at: Steve@Lapcomventures.com.

Industry Views

Pending Business: In Car

By TALKERS | by TALKERS

By Steve Lapa
Lapcom Communications Corp
President

imWhat happened to us? Unless we move quickly, the radio business stands to lose the final frontier: in-car listening.

The numbers tell a riveting story.

The good news is 92% of Americans listen to the radio every week.

The bad news, according to Edison Research, is only 68% of homes have a radio. All of us who were trained on the 90%-plus penetration of in-home radios are officially out of touch. The in-home radio listening experience is fading fast and there is no trend in sight to reverse it. Smart speakers aside, that bedside clock radio that helped millions wake up every morning is a silent reminder of days past. That 90%-plus penetration number will soon be the domain of Smart TV as 91% of homes have internet. That’s more homes than have radios.

The good news is 73% of drivers listen to the radio in the car.

Nearly three out of every four drivers tune in. The bad news is emerging retail media will soon be the final purchase influencer, online and on location. By 2025 more ad dollars (nearly $47 billion) are projected to be invested in retail media than TV. If you are still pitching, “in-car radio is the last purchase influence before the shopper steps into the store,” you are joining the growing group of outdated radio sellers. Let’s stop the head-in-the-sand approach and review what will have better sales power in the current landscape.

1. In-car listening is typically a shared attention experience. Adjust your commercials to work in the in-car environment. Simplify the messaging, repeat critical sales points, make the call to action easy to understand and implement.

2. Frequency sells. Forever the foundation of solid radio sales, repetition works, and compelling messaging can be commuter friendly.

3. Do your homework. If your community relies on several major industries, learn how the new remote workforce impacts in car listening. Different commute patterns may be in play. Know your marketplace before you suggest a schedule.

4. Seasonal trends. Summer is here. What changes are impacting your market?

Is there a go-to resource for advertiser info on your station website?

Some things will never change:

1. Auto is typically the #1 ad category. One of the best places to start the sales cycle of buying or leasing a new car is in the car of that money draining repair clunker and radio is right there!

2. Three out of four commuters drive alone and when you have someone one-on-one messaging will be heard.

3. In-car radio listening still is and always will be that uniquely personal experience.

Finally, owners and top-level management must learn to help sellers adjust to ever changing world of how to work with radio advertisers to meet the consumer where they are today.

Steve Lapa is the president of Lapcom Communications Corp. based in Palm Beach Gardens, FL. Lapcom is a media sales, marketing, and development consultancy. Contact Steve Lapa via email at: Steve@Lapcomventures.com

Industry Views

Pending Business: The 40% Factor

By TALKERS | by TALKERS

By Steve Lapa
Lapcom Communications Corp
President

imThere is something about 40.

40% of Q1 2023 podcast advertisers did not return for Q1 2024, according to Magellan AI.

40% of small businesses failed within the first three years, according to the Bureau of Labor Statistics.

40% of all workers were prepared to quit their jobs two years ago, according to a McKinsey Study. 43% of email professional recipients open email on a mobile device, according to Statista.

44% of sellers quit the pursuit after the second call according to Scripted. Really? Almost half of the sellers reading this column give up after the second call? That statistic must be wrong.

Consider your typical sales day – prioritized, focused, clear goals established, with all seasonal and timely deadlines plugged in and ready for execution. Successful sellers put as much time and focus into planning and organization as they do into the sales process. So, why quit the process after the second attempt? There are only three reasons any experienced sellers would give up after the second attempt.

1. Poor targeting.

2. Unrealistic expectations.

3. A negative business condition requires a new approach.

Reason #3 is the answer to why I listed the 40% factor. Professional sellers and managers sometimes lose touch with the realities of local business conditions. Attrition has always been the enemy of local sales, yet managers and sellers rarely plan for it. Budgeting and analysis are easy paper exercises. Old fashioned ear-to-the-ground market “research” is equally important. Those who learn to balance the formal and the informal find themselves winning the battle of the 40% factor.

As we approach the second half of the year, with elections, seasonal sports, and major holidays ahead of us, time to sharpen our pencils and tweak the projections for the remainder of the year. And always remember your pencil should have an eraser.

Happy Selling!

Steve Lapa is the president of Lapcom Communications Corp. based in Palm Beach Gardens, FL. Lapcom is a media sales, marketing, and development consultancy. Contact Steve Lapa via email at: Steve@Lapcomventures.com.

Industry Views

Pending Business: Talk Radio Questionnaire

By TALKERS | by TALKERS

By Steve Lapa
Lapcom Communications Corp
President

imTime to thank the lawyers in the Donald Trump trial for once again proving beyond any doubt the power of talk radio.

1. Sellers – Get ready for Mother’s Day and Christmas rolled into one.

2. Managers – Prepare a fresh new page in your talk radio media kit.

3. On-air talk radio talent – Don’t throw away that lottery ticket, your number could come in.

4. Media consultants – Hit the brakes on making TV as an automatic first choice for your political campaigns, we’ve got a story for you.

5. Owners – Play your cards right and that talk radio format may have jumped in value.

It has been widely reported that jurors selected for the Donald Trump-Stormy Daniels trial were presented a questionnaire with the following question, “Do you listen to talk radio?” “If so, which programs?” Now wait just a minute all you jury profilers out there or fans of the TV show “Bull.” This is big, but I have a few questions of my own:

1. Why would any lawyer be interested in the radio listening habits of a (potential) juror?

2. Why specify “talk radio?”

3. What’s with the need to know about specific programs?

4. What’s the definition of “listen?” Daily? How long?

Maybe it’s time to recognize just what all this means to great talk radio talent and marketers.

I’m sure by now you have figured out where this goes – influence – as in talk radio hosts, the original influencers.

The very nature of a jury selection questionnaire screening for talk radio listening and specific programs is fascinating. Did an attorney conclude that talk radio shows influenced a potential juror’s feelings, opinions, perceptions (the very currency of talk radio) when it comes to Donald Trump or Stormy Daniels or any other key player on the legal stage?

As every seller knows, talk radio talents were the original influencers and continue to drive sales every day. To the local sellers and managers in the New York DMA pitching Sid Rosenberg, Joe Piscopo, Mark Simone and the other great local talents, imagine experienced legal teams evaluating the influence of their daily shows on potential jurors. Same for the nationally syndicated talent heard in the New York DMA. Talk radio lives and is influencing in the Big Apple!

“Do you listen to talk radio?” “If so, which programs?” that line of questioning should now become part of your daily marketing testimonial. After all, if teams of well-respected lawyers feel talk radio listening can influence the decisions of jurors in one of the most historic cases ever to be tried in our country, imagine what talk radio can do for your advertisers!

Steve Lapa is the president of Lapcom Communications Corp. based in Palm Beach Gardens, FL. Lapcom is a media sales, marketing, and development consultancy. Contact Steve Lapa via email at: Steve@Lapcomventures.com.

Industry Views

Pending Business: Personal

By TALKERS | by TALKERS

By Steve Lapa
Lapcom Communications Corp
President

imThe work-life balance concept is up for a new spin. Let us start in California.

A recent article in the LA Times discussed the California “right-to-disconnect” bill, “guaranteeing workers the right to ignore after-hours call, emails and texts from employers.” It is not a law yet, but if Assemblyman Matt Haney has his way, the workday could be redefined, again.

We have moved from being overworked and underpaid to the covid-driven culture of work from home and working remotely. Dress codes took on a new meaning as we Zoomed and Teamed our way through meetings, calls, and brainstorming sessions.

As the total remote work concept is being revisited by many media companies we have moved towards a hybrid of the number of in-office days vs. total remote days. Many ad agencies and rep firms are getting increasingly comfortable leaning into mainly remote work as commercial office space vacancies hit all-time highs in many cities.

With the warp speed advances of communication in the digital world, we now have the 24/7/365 always-on mindset. Some companies hire sales and customer service reps in all time zones to align unique sales and marketing with a heightened level of customer expectations.

How disappointed do you get when you hear, “our normal business hours are_____, please call back.” Are you kidding me with “normal?” One contract required my own company, considered a small business, to maintain production teams on both the East and West Coasts to adhere to final edits and posting deadlines.

The new world truly is business unusual. The “right-to-disconnect” does have a key place in the blurred workplace. The question is how to manage such a unique concept as not answering the phone when caller ID says, “Boss.”

Let us complicate the picture with my favorite growing trend, “The 4-day Work Week.” If you are in sales or marketing, you could be drooling at the opportunity this will create. No, not more time AT the beach or golf course for you the seller. I am thinking about the new opportunities to talk to the marketing director of the resort, golf course, family get-away or any other leisure activity that could make that long weekend a permanent lifestyle fixture. Some phenomenally successful businesspeople have already placed their bets. As we redefine the work-life balance, new categories will open right in front of you. Stay focused. Pickleball, anyone?

Steve Lapa is the president of Lapcom Communications Corp. based in Palm Beach Gardens, FL. Lapcom is a media sales, marketing, and development consultancy. Contact Steve Lapa via email at: Steve@Lapcomventures.com.

Industry Views

Pending Business: Confidence

By TALKERS | by TALKERS

By Steve Lapa
Lapcom Communications Corp
President

imThe thing about outstanding performance is there is one key trait in the performer we can all agree on. It was on full display in front of millions during the past two weeks. It shows up every time an athlete takes the game to new levels, or an artist moves us out of our seats and collective comfort zone.

This trait is different from the energetic enthusiasm or the excitement we see from even entry-level performers. This trait takes time, experience, discipline and coaching before you can call it your own. We all need to pause a minute and make sure it is part of the developmental skill set being sharpened every day. Because you, the seller, cannot measure it on your own. You will need feedback from a trusted manager to be sure you are developing this part of your skill set to a level that will lead you to perform at peak efficiency.

Have you filled in the missing blank?

The trait is confidence. Not to be confused with arrogance, stubbornness, or being uncoachable. There is a difference between being so gifted that the student outgrows the teacher and sheer confidence. Confidence is that measured poise that shows your focus on the goals at hand, the calm you have under pressure, the ability to lead by example and the flexibility to adjust style and strategy. Confidence is one game changer that comes through whether working remotely or on in-person calls. Confidence is defined by proven experience as opposed to years on the job. Confidence is built by holding yourself to a standard that may be higher than what others expect. Confidence is developed when you set goals and stretch goals and through determination you achieve and exceed your goals. Confidence is recognized fastest when your performance leads by example and helps others achieve their goals. How do you begin developing confidence in your own performance?

1. Start with the one person you can control: You!

2. Prepare to Win. How much time do you spend preparing your calls? It takes 10 years of medical school education to accurately diagnose a one-second heartbeat.

3. A little positive self-talk helps. Think positive as in “I can do this.”

4. Invoke the great Charlie Munger theory. Get rid of the toxic influences in your (sales) world.

5. Learn from your wins and losses. When you win business the learning curve is simple. Very few managers teach sellers how to manage a competitive loss. Ask for the type of feedback that will help you improve.

6. Collaborate. The smartest people I know constantly ask questions.

7. Expand your knowledge base, experience base, and contact base every day.

Confidence is one universal trait in every champion. What is in your planner to help build your confidence?

Steve Lapa is the president of Lapcom Communications Corp. based in Palm Beach Gardens, FL. Lapcom is a media sales, marketing, and development consultancy. Contact Steve Lapa via email at: Steve@Lapcomventures.com.

Industry Views

Pending Business: Will Video Save the Radio Star?

By TALKERS | by TALKERS

By Steve Lapa
Lapcom Communications Corp
President

imWill video save the radio star? I hope so.

The tea leaves have become abundantly clear. Start understanding the impact of stand-alone video offered by your radio station or forever consider yourself outdated. Are you listening, all you great programming and production gurus out there in talk radio land. The up-and-coming generation is in line to take over and we had better start shifting the development wheels into hyper-gear today.

Everything new is new and everything old is suspect. Think about this:

1. How many times have you logged into Facetime or your favorite video platform purely for the sake of staying in touch? An entire generation is being raised on video calls and remote work. Can linear talk radio carve out a future in this video intense environment?

2. I can hear the old school managers barking, “There will always be in-car listening.” True, but commute times and days are changing regularly with remote work becoming the norm. In-car audio listening is changing before your very ears.

3. Have you digested the most recent research metrics? Sorry old schoolers, the days of 95% of homes listening to terrestrial radio are over. Ever watch the preschoolers ask Alexa or Google to read them a book?

4. Young parents under 40 are now limiting “screen time.” The key word is “limit.” Doesn’t that speak volumes?

How do we turn video integration into a sales winner for radio?

1. Stop denying the trend. Embrace the wave and ride it to profitability.

2. Focus on what sells. That “security camera” look in the on-air studio is embarrassing. Start having a real dialogue internally about what it takes to win dollars in this newly competitive world.

3. Reinvent yourself. Do not be slow to move forward. This video world moves at hyper speed and leaves laggards in the dust.

4. Not everyone will make the cut. Some of your talent will work better in the video world than others. Remember this is all relatively new to terrestrial radio. As your team navigates the way through these uncharted waters communication is critical.

The foundation is still solid. Many advertisers are comfortable with radio/audio that delivers the results they expect. Those advertisers are the rock-solid foundation every radio station needs. But eyes on the future are important as we all deal with single digit growth in competitive sales markets around the country.

Steve Lapa is the president of Lapcom Communications Corp. based in Palm Beach Gardens, FL. Lapcom is a media sales, marketing, and development consultancy. Contact Steve Lapa via email at: Steve@Lapcomventures.com.

Industry Views

Pending Business: March Madness 2024

By TALKERS | by TALKERS

By Steve Lapa
Lapcom Communications Corp
President

imMarch is half over, and the Madness is just beginning.

Can you feel the social media buzz driven by countless fans from Florida and Iowa to California as they brag and bet on their favorite teams?

Advertising as well is turning to the tournament page and taking on the creative themes that talk to the millions of fans who will fill out their brackets in that new age science called “bracketology.” Is that basketball novice who wins the office money pool because the uniforms were just the right color still in the office? Or how about grandma beating a few experts because she really has been a fan for over 60 years. So much for the science behind “bracketology.”

Industry surveys project nearly $2.7 billion will be wagered during the madness as the dollars flow through legal venues. This year may be a little different as fans in Iowa play a unique role. More on that in a minute.

As a forever basketball fan and a fan of great marketing, March Madness is that rare intersection of high-level athletic performance and competitive marketing execution on full display in front of millions almost every day for nearly three weeks. The summer Olympics in Paris scheduled July 26-Aug 11, come close, but the Olympic games play to a multi-sport, truly global crowd. There is nothing else in sports and marketing that compares to the prolonged, daily intensity surrounding the “Big Dance,” and this year it is truly a dance.

Fans are in for a next-level experience as Iowa’s amazing Caitlin Clark puts Women’s March Madness on the sports map once and for all. This year the social media buzz will have the additional fandom buying every ticket in sight as Caitlin’s Iowa Hawkeyes sold out arenas around the country.

So, what does all this March Madness fandemonium have to do with what we do in sales and marketing? Let’s learn.

1. Watch for marketers who get the emotional connection with the core fans. This year’s messaging will broaden beyond what you might expect.

2. As demographics change, so will creative.

3. Although your marketing may be limited to your local market, watch for new categories that can open your thinking.

Nearly 133 years have passed since Dr. James Naismith grabbed a round ball and a basket. His goal was to invent a simple game to keep a group of young men active during those maddening winter months in Springfield, Massachusetts. If he could only have imagined what he started.

Steve Lapa is the president of Lapcom Communications Corp. based in Palm Beach Gardens, FL. Lapcom is a media sales, marketing, and development consultancy. Contact Steve Lapa via email at: Steve@Lapcomventures.com.

Industry Views

Pending Business: Price = Value

By TALKERS | by TALKERS

By Steve Lapa
Lapcom Communications Corp
President

imThink about the concept for just a minute. Manhattan Island for $24? Peter Minuit knew value.

Two of my favorite sales training exercises are the Timex vs. the Rolex and the Bic vs. the Monte Blanc. In each role play we pit price against value with intangibles like prestige, self-esteem, peer recognition and good old Sam Walton-style common sense surfacing in the role play.

Sales managers reading this column should try those exercises to help develop and sharpen the skill sets necessary for success in radio-audio sales.

Price theory is now faced with two variables that may redefine value: inflation and meta-data, two distinctly different forces that can test our tolerance of price in the value equation. Stay with me, this gets simple, fast.

Assume almost everything costs more, you can pick your favorite reason. Mine is the price of men’s haircuts. I always wonder why the less hair I have, the price still goes up. Less hair, less time to cut, lower price? I have tried, but the price goes up every year. Why? The answer is the most important variable in current price theory, mastered by the airline-tourism business and it is about to be tested at a quick-serve restaurant near you. It is called demand, or in the Uber-driven currency, “surge pricing.” Eventually, you will be hit, even shocked, with the demand curve surge-pricing model.

The theory is simple: when just a few seats remain on the airplane or the hotel is heavily booked, the price goes up. When you desperately need Uber for a ride from the airport during rush hour, the price for that ride is different from the ride during non-rush hours. How about tickets to your favorite event? Sports and concerts have been in the demand-pricing business as long as someone was willing to pay. Surge pricing is a newer twist but has historic roots in tipping the maître d or the valet.

Now comes the latest price model. Just how hungry are you? Imagine your favorite dining spot changing menu prices by variables such as time of day, day of the week, number of orders waiting, even the number of cars in the drive-thru lane. Imagine watching the prices on the digital menu board change before your eyes based on the number of people waiting in line. This is not speculative price theory; it can start tomorrow or not.

Pricing has one variable we all take for granted. The customer, or in our case the advertiser. What is tolerated and what is rejected? We are privileged to operate in a market-driven economy. What variables will go into your pricing model today?

Steve Lapa is the president of Lapcom Communications Corp. based in Palm Beach Gardens, FL. Lapcom is a media sales, marketing, and development consultancy. Contact Steve Lapa via email at: Steve@Lapcomventures.com.

Industry Views

Pending Business: Curmudgeons

By TALKERS | by TALKERS

By Steve Lapa
Lapcom Communications Corp
President

imAre you a sales curmudgeon? You know, that old-school, out-of-touch terrestrial radio ad sales rep who is too lazy to learn the new digital/social media sales world?

A recent survey by Borrell and Associates says most radio station managers vote for “new blood” on the sales team to offset those old-school sellers who are oversaturated and have no more room to grow. It’s the evergreen water bottle analogy. Open that off-the-shelf bottled water and just try pouring more water into that fully filled bottle. There is no more room for even another ounce. Is that you? So full of sales knowledge that there is no room to learn? Your boss thinks it’s better to hire another seller than to wait until you decide to push yourself through the comfort zone and become more productive in the digital/social media column.

The top line “hire new sellers” concept here is true. Some living history:

1. AM vs. FM. Are you old enough to remember separate AM and FM sales teams? AM radio stations were the first big income generators. When FM music stations became popular, we first sold AM/FM combo plans. Realizing FM formats were geared to a younger audience, we hired sellers who got it. Sales teams were formed to sell just the FM stations. The internal conflict was a management nightmare, yet somehow, we managed to create two separate teams. The rest is terrestrial radio sales history.

2. Cluster Sales. When the FCC allowed owners to control more than two radio stations in a market, we went through another seismic change. Sellers who sold for one, or in some cases AM/FM combo sales, were soon allowed to pitch multiple stations owned by one owner in a market. Managers were faced with a new round of consolidation conflict. If you worked with an advertiser that needed additional markets, you were able to bring outside markets with commonly owned radio stations to the mix. Somehow, we managed.

3. Digital/Social. What took so long? Today’s terrestrial radio ad seller is an important foundational component in every radio station ad sales department. Yet the ad sales and audience growth aren’t on the AM/FM or satellite band. It hasn’t been for a while. The ad demand and growth in audience and revenue is on your computer, smartphone, apps, and earbuds. Are you ready to adapt to the digital/social media demand curve? Or are you sitting in your comfortable rocking chair.

There is no doubt new sellers plugged into new media platforms will fuel the next level of audio sales growth. But before we give up on those curmudgeons on your sales team, let’s learn how they preserve the buyer-seller relationship long enough to earn the privilege of becoming “curmudgeons.”

Steve Lapa is the president of Lapcom Communications Corp. based in Palm Beach Gardens, FL. Lapcom is a media sales, marketing, and development consultancy. Contact Steve Lapa via email at: Steve@Lapcomventures.com.

Industry Views

Pending Business: Q2

By TALKERS | by TALKERS

By Steve Lapa
Lapcom Communications Corp
President

imHave we passed the disappointment of 2023?

If ad sales at your radio station finished last year up double digits (excluding digital) please skip past the next few paragraphs. If you’re in the same boat as most radio ad sellers across the country at various levels – i.e. local, national, syndication, network – last year was a struggle.

Now then, how is Q1 shaping up?

Are you making up for lost ground, like the airline business, automotive business, restaurants or are you still pushing that boulder uphill? Here is some straight-from-the-field unfiltered feedback:

1. Valentine’s Day at most restaurants was one of the busiest on record. People at the packed-in table next to ours waited two hours after sitting to be served. So much for a 6:45 pm reservation. They got free dessert. Seriously?

2. Travel is back, make no mistake about it. Discount airfares are a thing of the past on the big-name airlines. At 6’2” I really believe my knees should not be touching the seat in front of me in comfort class on most major airlines.

3. Try negotiating a new car deal this month. No, not the incentives on the 2023 models, I’m talking 2024 in 2024. As the goodfellows said back home, fuhgeddaboudit.

There is nothing wrong with trying to make up for the lost income of the Covid years. After all, testing the pricing upside in business is the American way. We pay more, tip more, and adjust. It is the Darwin theory eating into our wallets every day. So why are most broadcast radio sales teams at all levels still throwing it against the wall to see what sticks? I see it every day in my marketing work. We have lost touch with the excitement, the “wow” factor, the customizations, the basic intangibles of selling the great talent we represent.

Let us learn from other successful businesses. Travel pitches pent-up demand, restaurants make sure you will get the special occasion marketing message no matter where you are, and the auto business, well the ships and chips are in!

What do we not understand about the current weakness in our broadcast radio sales strategy?

1. How current is your value proposition? Successful podcasters like Joe Rogan and Alex Cooper along with YouTubers, Facebook, Instagram, and all social media have changed the game-forever. How does your value proposition stand out today?

2. Talk radio will not go away. Programmers and talent will learn what they need to adjust to refocus one of the great radio formats ever created since someone said, “Let’s play the top 40 songs over and over.”

3. Let us start re-thinking what broadcast radio sellers need to prioritize to make a difference-today.

Steve Lapa is the president of Lapcom Communications Corp. based in Palm Beach Gardens, FL. Lapcom is a media sales, marketing, and development consultancy. Contact Steve Lapa via email at: Steve@Lapcomventures.com.

Industry Views

Pending Business: The Biggest of the Big

By TALKERS | by TALKERS

By Steve Lapa
Lapcom Communications Corp
President

imSuper Bowl LVIII could have been the best ever.

The pre-game hype was over the top, blending unique Vegas themes with the traditional NFL superhype we all know and enjoy. Digital Frank Sinatra singing “My Way” with the Super Bowl Symphony, Wayne Newton sharing his life story – pure Vegas, baby – and the 2024 pre-game was a scene set like no other. Usher fans enjoyed a halftime show that was pure energy. The storylines for this game featured more themes away from the game than any other in history. Could there have been any more written about Taylor Swift and her connection to this game, impact on NFL viewership and could she make it from Tokyo on time? It seemed like Sunday morning’s New York Times digital edition devoted more front-page space to Taylor Swift than the game itself.

Ironically, Super Bowl LVIII was a stunner. The Niners missed a point after kick that could have made them Super Bowl Champions. The miss led the game into overtime and another amazing Patrick Mahomes–Andy Reid last minute Super Bowl win. But the real treat was all the new think in creative commercials.

No longer were TV ads limited to one or even two celebrities per commercial. It was almost a competition for how many stars you could fit into 30 seconds. After all, when a 30-second commercial cost $7 million, maybe you cast Jennifer Aniston, David Schwimmer, J Lo, Tom Brady, David Beckham, half the cast of “Suits,” to name a few, in one ad.

Madison Avenue was under more pressure than Brock Purdy, so the creative juices were flowing. Love it or hate it, the creative pressure to make a $7 million investment in 30 seconds payoff was intense. The new think worked. Go big or go home! Stand-by for the countless industry articles measuring everything from recall to audience size. The trend is your friend, and the trend says, this could be a peek into the future of open-your-wallet marketing. But where does this put audio pricing and creative on the impact spectrum?

Odds are the creatives that just opened the door to a new chapter of multiple celebrity integrations will stimulate the next generation of “theatre of the mind” producers. They are out there, for sure. We just need to work harder to attract their talent. As for pricing, that part is up to you.

Steve Lapa is the president of Lapcom Communications Corp. based in Palm Beach Gardens, FL. Lapcom is a media sales, marketing, and development consultancy. Contact Steve Lapa via email at: Steve@Lapcomventures.com.

Industry Views

Pending Business: One Special Person

By TALKERS | by TALKERS

By Steve Lapa
Lapcom Communications Corp
President

imOne person can make a difference.

I thought my first boss invented that quote. Seems he borrowed the first half of JFK’s “One person can make a difference, and everyone should try.” It seems in 1964 former first lady Jacqueline Kennedy was describing JFK’s philosophy to a historian as opposed to offering a direct quote. Ultimately, the press attributed the quote to JFK. It’s the thought that counts.

Fast forward to my first management job in Buffalo, New York and the quote became a goal. Consider the GOATS we see in professional sports. Michael Jordan or Tom Brady could put a team on their back and 13 World Championships followed.

Now we see the phenomenon in the explosive intersection of pop culture and sports. Stand back fans, this is a lot bigger than Joe DiMaggio and Marilyn Monroe. This is about the two biggest brands on the planet today joining forces to move the needle in every measurable media metric and drive the commercial value of a partnership through the stratosphere while staying within the confines of good taste.

This is about Taylor Swift and NFL future hall of famer Travis Kelce. This storyline has driven the average ticket to Super Bowl 58 to over $6,000, gameday VIP treatment will run over $35,000.

What does all this heady superstar stuff have to do with us everyday radio/audio sellers and managers watching at home? The “one person can make a difference” theory can work for you.

Here is how:

1. Practice makes perfect. Ever think about how many hours Taylor Swift rehearses? Rumor has it she sings while jogging on a treadmill. Pass the oxygen. When Payton Manning worked out at full speed on an inclined treadmill, we asked him about that grueling drill. His answer was classic, “Ever been chased by a 300-pound lineman who can run 40 yards in 4.6 seconds?” How about you? What is your sales practice routine?

2. The need to be different. Every great athlete, performer, scientist, and innovative businessperson told themselves and anyone who would listen they had the need to achieve. What would your manager say if you said, “I am ready to deliver more sales than anyone else who ever worked here!”

3. The long haul. On the way to achieving their goals, the great ones have no clock, just focus. Even the great James Madison, the youngest framer of our Constitution would “sit for ideas” waiting until he could clearly process and communicate the concepts he was developing.

Too many sellers and managers take short cuts, give up before the 9th contact or move on to other jobs thinking the grass is greener. Be the one person who makes a difference and enjoy the game!

Steve Lapa is the president of Lapcom Communications Corp. based in Palm Beach Gardens, FL. Lapcom is a media sales, marketing, and development consultancy. Contact Steve Lapa via email at: Steve@Lapcomventures.com.

Industry News

Two Crows in Jupiter

By TALKERS | by TALKERS

im

Pictured above with the iconic blackbirds familiar to Florida deli enthusiasts as the feathered mascots of the TooJays restaurant chain are Steve Lapa, president, Lapcom Communications Corp (left) and TALKERS publisher Michael Harrison (right) who met yesterday (1/30) over a hearty bowl of matzoh ball soup to discuss plans for the sales and marketing component of the forthcoming 27th annual TALKERS conference. Lapa, a regular TALKERS columnist and one of the radio industry’s leading experts on the challenges of revenue generation in the digital age, will moderate the sales workshop at the 27th annual installment of talk media’s longest running and most important national convention. Details for TALKERS 2024 will be announced next week. Meantime, save the date Friday, June 7.

Industry Views

Pending Business: Do You Know?

By TALKERS | by TALKERS

By Steve Lapa
Lapcom Communications Corp
President

imI’m no expert, but I do have a theory.

The American media business is the most competitive and advanced in the world. Many other countries directly or indirectly control their airwaves and print publications. Not here, no way, not as long as the First Amendment protects freedom of the press. Yet with that historic, awesome guarantee in place, why are newspapers failing, magazines gutting staff and many of the newer dot coms hitting the wall?

It is inevitable that daily print publications like the LA Times and the Washington Post cut back. We’ve come a long way since Guttenberg, but low-tech printing presses, paper and ink are just not fast enough to keep up with the 24/7 information cycle. I can understand the financial woes caused by bloated staffs at Buzzfeed, Vice and most recently at Business Insider. But when Sports Illustrated gave notice to its writing crew, now you are messing with arguably the most successful sports magazine of all time.

S.I. knew how to attract great writers delivering iconic story lines. We’re talking writers like Rick Reilly, the late Frank Deford, J.F.K. – yes, the late president – Carl Sandburg and one of my favorite characters of all time the late cigar chomping New York Daily News columnist Jimmy Breslin. Martha Stewart on the cover, not for me.

What happened here? The simple answers are: Too much debt, too much overhead, and too slow to recognize and act on shifting dynamics.

Yet People magazine, which has been around for 50 years and if you believe Statista, now reaches over 82 million readers a month! Can you name the last time People won a Pulitzer for a story? Yet we can all learn a critical lesson from the continued success of People. Even those of us in management in the radio/audio business.

Here comes my big theory which you can apply to content, sales, sales management, and everything else important in life.

1) Know your audience. People is focused on celebrities and rarely gets a story wrong.

2) Keep it simple. People is about pictures and easy to understand storylines.

3) The original target was women 18-34. As the target demo shifted and lifestyles changed, the content of People adjusted.

Let’s connect the dots in our programming, sales, and sales management world.

1) Are you in step with your audience? Listeners, and advertisers are all part of a dynamic environment. What’s in your planner that forces you to know the “audience” you sell or market to?

2) Do you keep your proposals simple and easy to understand? Fast and focused is the name of the game.

Steve Lapa is the president of Lapcom Communications Corp. based in Palm Beach Gardens, FL. Lapcom is a media sales, marketing, and development consultancy. Contact Steve Lapa via email at: Steve@Lapcomventures.com.

Industry Views

Pending Business: One Billion and Counting

By TALKERS | by TALKERS

By Steve Lapa
Lapcom Communucations Corp
President

imLet’s talk streaming because I don’t get what is happening. Maybe you do.

Talk shows place decent cameras in the radio studio, maybe one in the control room, possibly a third at a “producer’s” desk, a flat screen or two with cool visuals in the background to fulfill the coolness quotient, push the video stream to YouTube or another platform and wait for the throngs of followers to find the talk radio show, view, subscribe and stay with it until the numbers are staggering.

Sometimes the video stream is promoted on air or your station’s website and the expectation is the online audience will skyrocket. After several months, the viewer numbers don’t skyrocket, or maybe the numbers develop modestly, but sales becomes the art of packaging. Because the scale necessary to move the sales needle is still not happening.

This is not a hypothetical. This is happening today at some of the best radio stations delivering high-level radio programming in markets of all sizes around the country. Why do we struggle with how to turn the best radio programming in the world into competitive online video content?

The short answer is great talk radio programming is just that: great radio programming. But herein lies the dilemma. Great talk radio talent, in any format, are natural masters of the foundational elements that can make their YouTube, Rumble, and other social media video platforms gain audience and successfully generate revenue.

Let’s identify the most important reason why:

1. Authentic. Show me one successful talk radio host in any talk radio format who does not exude “authentic.” Agree or disagree with the host on politics, sports, finances or fishing, great talk show hosts are authentic, and their audience can sense the passion coming through in every show. Now, let’s identify the nasty four-letter word, stopping many great talk talents and their content from performing competitively on current social media video platforms. That four-letter word?

2. Show. Most great talk radio talents understand what it takes to put on a great “show.” Mechanics, formatics, and unique skills are developed over time designed to maximize Nielsen performance. But often, many of these – forgive me here – old media “show” skills are not relevant to the huge audience now consuming 1 billion hours of YouTube video every day. Yet we persist and video stream the radio “show” with the expectation an online audience will skyrocket, sales will explode, and the future is as easy as hitting the send button. It just does not work that way.

The radio industry has developed many of the greatest “authentic” talents in the world. How will we plan for a future that has billions of hours of consumption?

Steve Lapa is the president of Lapcom Communications Corp. based in Palm Beach Gardens, FL. Lapcom is a media sales, marketing, and development consultancy. Contact Steve Lapa via email at: Steve@Lapcomventures.com.

Industry Views

Pending Business: Cold Calling

By TALKERS | by TALKERS

By Steve Lapa
Lapcom Communications Corp
President

imLet’s take a minute to welcome back an old reliable that has been part of our sales and marketing world since Adam pitched Eve and got the first “yes” on the original cold call. No telling how cold that call really was.

But seriously, here come two shoutouts that should motivate you to re-evaluate the one strategy that has worked since the very early days of sales. Imagine knocking on 3,000,000 doors, making 3,000,000 cold calls. How many sales would you expect? According to The New York Times, a super PAC has knocked on all those doors nationwide, nearly 1,000,000 or one-third in Iowa alone, asking for the order. That’s a lot of cold calling and leave it to Iowa weather to put the “cold” back into cold calling.

Everyone reading this column would argue, TV, radio – especially r-a-d-i-o – and social media ads are more impactful, more efficient, and often more emotionally compelling than old school cold calling. Only time and results will tell if the boots-on-the-ground technique succeeded over the millions in media spend. No, this isn’t about modern-day political marketing strategy, this is about recognizing an old, proven technique that still has a role in today’s modern, hyper-speed, tech-driven world.

Do you remember the cold-calling contests that ended on a Friday with your team turning in the business cards that proved you met with those brand-new decision makers? Business cards in hand, you were well on your way to winning that weekly cold-calling contest. Talk about cold-call champions! All those business cards represented follow up opportunities that often led to long-term relationships netting many sellers nice commission checks.

Now comes the selfie, the modern-day version of those business cards, documenting proof positive you met the brand-new decision maker on the way to developing that newfound business relationship. Suddenly the old school cold-call strategy has a new world spin showing everyone on the team you are out and about in front of new business prospects, setting appointments and with newly fueled positive energy writing business and achieving your goals.

Hard to believe we are all connected to Adam’s very first sale, the 3,000,000 nationwide cold calls and the political strategists who earn big sums while still advising candidates to make sure they are getting out there, shaking hands and making those cold calls.

What’s on your planner this week?

Steve Lapa is the president of Lapcom Communications Corp. based in Palm Beach Gardens, FL. Lapcom is a media sales, marketing, and development consultancy. Contact Steve Lapa via email at: Steve@Lapcomventures.com.

Industry Views

Pending Business: Calendar Secrets

By TALKERS | by TALKERS

By Steve Lapa
Lapcom Communications Corp
President

imThis column should really be called, “How I got transferred from Buffalo to Tampa.” The storyline will help explain the title and offer you a proven technique that should help you sell and earn more.

Before Zoom, Teams and other video conference platforms that drive today’s daily to-dos, sales teams worked hard to fill the day with “in-person” sales calls. Back then, most managers forgot, or did not account for how weather impacted the number, geography and quality of those money making in-person sales calls, until blizzards, hurricanes and mother nature took her toll on productivity. Those of you who work or have worked in northern markets like Buffalo know all too well what 8 to 12 inches of snow can do to a daily plan. The same holds true for southern markets that experience hurricanes that have devastated communities going back to the hurricanes that nearly destroyed Miami and New Orleans. Now it seems wildfires are becoming a more regular threat in western markets. Having experienced most of the worst, like it or not, weather is an unpredictable yet critical variable in your sales plan.

One of the most destructive blizzards in history hit Buffalo during my first year as a young general manager. Retail contract cancellations, stranded employees, and off-the-air due to frozen antennas were draining revenues. It was December and the calendar was winning. After the ice melted and the snowplows cleared the way, we packaged everything we could before year-end to try and salvage the pacing that was leading to a bonus. The calendar won, annual bonus gone, but the learning curve kicked in.

B.G. (before Google) any research had to be accomplished old school: calls, friends, articles, and experts. We determined the average number of weather impact days, just like the guys in the theme park business. We developed a “real world” budget that accounted for weather days, the accompanying limited staffing, and a set aside percentage of revenues for cancellations.

When we began the year, the “real world” budget was put in place. By November of that year, the radio station had achieved its revenue goal for the full calendar year. The day before Thanksgiving I was summoned to the corporate office and was handed a file with a one-way ticket to Tampa, Florida. Goodbye blizzards, hello hurricanes. As a young manager, the sun was much more inviting than the snow, and I am still in Florida.

The discipline of a sales or planning calendar accompanied by “what if” is a must have.

Oh yes, make sure that pencil has an eraser.

Steve Lapa is the president of Lapcom Communications Corp. based in Palm Beach Gardens, FL. Lapcom is a media sales, marketing, and development consultancy. Contact Steve Lapa via email at: Steve@Lapcomventures.com.

Industry Views

Pending Business: Welcome to 2024

By TALKERS | by TALKERS

By Steve Lapa
Lapcom Communications Corp
President

imWhat do your New Year’s resolutions look like?

Chances are your resolutions included what I call the old reliable “mores.” Earn more, save more, exercise more, eat more of the healthier foods. Sound familiar? Do you break down the resolutions into daily goals? As in here is what I need to do today to meet my goals and fulfill my resolutions. How about the “less” category? Do you spend any time thinking about what you want to do less often? Let us start with some obvious candidates.

A recent survey by Frequence.com indicated 84% of respondents in marketing and advertising felt stress on the job. Maybe the other 16% had just taken their morning meds. Seriously, can you blame the stressed-out thousands who have spent a career working for companies that stand on the brink of financial peril, delist from the stock exchange, or initiate short-notice personnel cuts? Has anyone in the radio business reading this column ever experienced a fully stress-free experience for over 36 waking hours? If it is not work, maybe it is friends, family, travel issues, or anything else that you simply cannot stop thinking about.

“Less” resolution #1. Less stress on the job, unless you are in the parachute business or an air-traffic controller or emergency room doctor in New York or Chicago, you get where I am going with this.

The same survey showed 72% of respondents work for organizations expecting them to deliver more with less support. The last time I worked for a broadcast company that provided me with my own dedicated assistant, the Cowboys won the Super Bowl in the first ever televised in prime time. Please raise your hand if you are a seller or sales manager with your own dedicated assistant. Anybody? How about in the past 10 years?

“Less” resolution #2. Less is more. The slogan takes on new life in the remote work environment that is a norm for many in the media buyer-seller relationship. Everyone in the chain is being asked to do more, reach increased goals, and perform to a higher standard with less support. You are either on the income money flow line or the expense side. Pick your lane and try your best to deliver measurable results.

Technology is driving change in every corner of the workplace. New strategies and technologies designed to monetize media impressions are part of our culture. Surveys show anywhere from 52-70% of sellers and marketers are challenged with keeping up.

“Less” resolution #3. Prioritize your upskilling. Pick the one area that will allow you to hit your most important “more” goals and master it. Never stop learning, just adjust your learning curve to what works best for you.

Here’s to a more productive and prosperous New Year!

Steve Lapa is the president of Lapcom Communications Corp. based in Palm Beach Gardens, FL. Lapcom is a media sales, marketing, and development consultancy. Contact Steve Lapa via email at: Steve@Lapcomventures.com.

Industry Views

Pending Business: Ad Count

By TALKERS | by TALKERS

By Steve Lapa
Lapcom Communications Corp
President

imHow many times will we research the same subject and come to the same conclusion?

This time it is the podcast. How many ads will the average listener consider “appropriate” in a 60-minute episode?

If you read the recent research from Cumulus/Signal Hill, you know the answer. For the rest of you, survey says under four minutes per 60-minute episode. The same survey says the magic number for a 30-minute episode is under three.

How ironic is that? The typical talk radio hour runs more ads in one break than an entire 60-minute episode of a podcast. Could it be because we have been integrating radio commercials into hour-long broadcast content for over 100 years? Have we conditioned news/talk listeners to accept more commercials per hour? Our TV friends have been at for over 80 years with an even bigger hourly spot load. Anyone ever see audience research that says add more commercials?

Seriously, unless you pay for the ad-free experience of Netflix, HBO, Hulu, Spotify, Pandora, etc., like most consumers of media, you are comfortable with the ad-supported media model.

So, how has the podcast world been so successful with a model that would leave most traditional radio and TV owners, execs, and sellers dumbfounded.

Here is some insight from my experience.

1) CPM is higher in podcast. The hard facts are when you work with higher CPM you can adjust the commercial load. Demand for digital/social media and podcasts with marketable scale is greater than terrestrial radio. The demand curve for podcast advertising is greater than terrestrial radio. Time to wake up, shake up and shout out loud about our 100-year-old sleepy giant!

2) Survey said 62% of podcast listeners prefer the host read. Talk radio sellers should improve this pitch every day. Today, podcast sellers are simply better at it. Podcast sellers get the intimate relationship between host and listener better than most radio sellers get host and audience. Podcast hosts seem more one-on-one savvy. What will Joe Rogan’s next guest say? What will we hear when your talk talent interviews their next guest?

3) Quality. When your local production director is overloaded and needs to get commercials completed on the air yesterday, what wins: quantity or quality? Be honest here. Where is the next audio creative genius like Dick Orkin or Chuck Blore? Do you know those names?

4) Can you really compare ad load levels between the 60- or 30-minute podcast episode to the average three-hour daily talk radio show?

Traditional molds need to be revisited regularly. My experience with YouTube is showing me even newer models for monetization, different from audio podcasts. Does your 2024 planner have any room for innovation?

Steve Lapa is the president of Lapcom Communications Corp. based in Palm Beach Gardens, FL. Lapcom is a media sales, marketing, and development consultancy. Contact Steve Lapa via email at: Steve@Lapcomventures.com.

Industry Views

Pending Business: When the Package Doesn’t Work

By TALKERS | by TALKERS

By Steve Lapa
Lapcom Communications Corp
President

imIt happens to everyone at least once.

You present your package with every asset at your disposal to make the campaign a winner – host read radio, podcast, X(Twitter), Instagram, Facebook, YouTube, and anything else at your disposal. You work with your manager for pricing, coordinate the digital team for input, and touch base with your business department for the all-clear. Your presentation is an award winner, your enthusiasm is contagious and the deal closes. The campaign launches and to your shock and dismay the feedback from your client is utter disappointment as results are anemic. You verify everything is running properly, digital and social media are coordinated, yet the anticipated tsunami of results is barely a rain shower.

Are you kidding me right now? What in the world happened? A little history and a little reality will help you right the ship.

It’s been 60 years since Marshall McLuhan taught us the “medium is the message” and arguably became the original disruptor. He was so far ahead of his time, Musk, Zuckerberg, and Altman would be challenged. The bottom line is McLuhan got it right as we still stumble our way through the performance side of the ads.

Let us examine how we package and sell 60 years later.

Mistake #1- All creative is the same. In the example above, I listed 6 common platforms many local hosts utilize daily to spread the word.

A) Sellers focus on packaging scale, competitive efficiency and closing the business.
B) Hosts focus on product and content acceptability.
C) Managers focus on deal points.
D) Traffic and business focus on integrating systems.
E) Production is ready to deliver the deadline.
F) STOP!!!! Who is focused on matching the platform or medium with high impact creative messaging? “50% OFF” is an empty value proposition when there is no product sell-in. Who is making sure EVERY asset is delivering the creativity that engages and motivates the listener/viewer for each medium?

Mistake #2. I got this. Wake up! The multi-platform package is more complicated than the beta binomial curve for duplication. Oops, did I lose you? The concept is the radio listener may or may not be the podcast listener who may or may not be the YouTube viewer, who may or may not be the Facebook follower, and so on. You are the sales pro who put this package in motion, yet did you stop to think through: Does each medium have a unique campaign with different frequency, creative updates and feedback loops? Do you have any idea how many daily tweets it takes to sell that product or service? Or are you applying branding metrics to sales goals? And that is just the beginning.

We often forget, YouTube, Facebook, Instagram, are barely 20 years old and we are still learning. Yet our terrestrial radio station heritage goes back over 100 years, so you think, “I Got this.” To paraphrase the great Marshall McLuhan, don’t drive into the future using only a rear-view mirror.

Steve Lapa is the president of Lapcom Communications Corp. based in Palm Beach Gardens, FL. Lapcom is a media sales, marketing, and development consultancy. Contact Steve Lapa via email at: Steve@Lapcomventures.com.

Industry Views

Pending Business: Coffee Talk

By TALKERS | by TALKERS

By Steve Lapa
Lapcom Communications Corp
President

imHave you tried the $7 cup of coffee at Starbucks?

A recent visit to my neighborhood location was an eye-opener. The demographics were broader than a trip to Disneyland. The service was average, as the baristas gave a hearty Moe’s welcome shoutout, heads down cranking out the orders.

A recent study showed 63% of millennial coffee drinkers are good with that $7 price because the coffee experience made them feel good. I was wowed at the acceptance of the price point. If the average consumer goes to Starbucks 16 times a month, that is over $100 a month on coffee. No wonder there more than 16,000 locations in the U.S. We just can’t get enough!

Yes, I am a student of successful marketing no matter what the product or service is. Tide, Starbucks, iPhone – what is it about the product that drives the value proposition? Quality? My gym socks do just as well in the less expensive laundry detergent. Dependability? My iPhone needs rebooting more than I would like to admit. Consistency? Ever taste Pike Place when it is from the bottom of the canister? No product or service is flawless, yet we consistently pay more for some over others. Is it marketing, packaging, or genuine performance? A little of everything.

Let us connect to our sales world.

1) There is no shortage of Tide. Yet it is still the most expensive brand on most supermarket and big box store shelves. Consumers have paid a premium for nearly 80 years because we trust the product. And therein lies the lesson for talk radio sellers. The trust your audience has in your on-air hosts is hard-earned equity reinforced every day.

2) The sit-down experience and service in a Starbucks is unique. From Manhattan to Carmel, California, locally owned coffee shops try, and some may succeed but the overall sit-down experience and service at Starbucks is consistently high-quality, meeting our expectations no matter where you are and so price barriers come down. Lesson #2 for sellers. Is your buyer-seller exchange always at a consistent important level no matter how close your relationship with your advertiser? Even when business is down?

3) There is no way to Google that answer. Put yourself in the shoes of your advertiser, especially a first-time advertiser when the wrong copy runs, an invoice is incorrect, or another issue comes up. Is it quick and easy to resolve a discrepancy? Will you invest the time and patience to ease the process?

Our talk radio business rarely integrates intangibles when it comes to pricing. Competitive, efficiencies and demand traditionally drive pricing. Yet the talk radio personalities are the ones with all the intangibles. From political influencers and offering emergency weather information to life changing news storylines that need interpretation to become more acceptable. Yet through it all, we are still the $1 cup of coffee.

Steve Lapa is the president of Lapcom Communications Corp. based in Palm Beach Gardens, FL. Lapcom is a media sales, marketing, and development consultancy. Contact Steve Lapa via email at: Steve@Lapcomventures.com.