Industry News

Edison Research: Radio Grabs 36% of Americans’ Audio Listening

According to data from Edison Research’s Q4 2023 Share of Ear study, Americans 13+ spend 36% of their audio consumption listening to AM/FM radio. Edison says, “AM/FM radio continues to make up theim largest share of listening, accounting for more than one-third of daily time with audio among those age 13+. The vast majority of that listening (31%) is to AM/FM over-the-air signals.” (The other 5% comes from radio streams.) Behind AM/FM in listening is streaming music (20%), YouTube (14%), podcasts (11%), SiriusXM (8%), owned music (4%), TV music channels (3%), audiobooks (3%) and other (1%).

Advice

Welcome to No-Brand Land!

By Gary Begin
Sound Advantage Media

imBroadcasting executives spend millions building their radio station’s brand in the marketplace. But is it being spent in the right place?

The frontline salesperson is a marketer’s greatest asset in creating brand justice and impact. But if you ask brand managers to look at their brand-building budgets, you’d probably see expenses allocated opposite to what drives brand purchase decisions.

Brand marketers continue to pump big bucks into extensive ad campaigns while doing next to nothing to deliver relevant, brand-supporting messages at the all-important, more significant level—the distance between a company’s sales voice and a prospect’s purchase decision.

What’s the answer?

It probably lies somewhere between (1) the unwillingness of radio stations and brand managers to go further “downstream” with their strategic recommendations and (2) the lack of useful tools to get them there.

Welcome to No Brand’s Land

Increasingly, a company’s branding success depends less on what they sell and more on how they sell it. Selected experts in branding seem to be coming around the idea that the power to make or break your brand-building effort lies not in the quality of your advertising but in the customer’s experience at the point of sale. In radio, that’s your over-the-air product and how your ad rep handles the advertiser.

On one side of No Brand’s Land, brand marketers can control all the implementation, ensuring the advertising campaign is right on, the media coverage generated by your on-air promotion is consistent, your Web site looks the same, and your corporate design is in place.

But on the other side of the No Brand’s Land, salespeople are still doing their own thing. They are cutting and pasting old proposals with outdated information and incorrect messages. They’re fabricating homegrown collateral tools and PowerPoint presentations that are, at best, inconsistent with corporate positioning or, worse, downright inaccurate.

The most frightening thing for brand marketers is that these cobbled-together documents must walk the halls of prospective customers, representing the company’s brand at the most critical points in the sales process. Ouch.

Adding insult to injury, the field-fabrication virus spreads exponentially as this lousy information is perpetuated across the channel on the brand’s intranet.

Crossing Over No Brand’s Land

To navigate and successfully cross No Brand’s Land effectively, marketers must start by adapting brand message creation and delivery to today’s strategic sales processes. Two trends will drive marketers’ efforts to create brand-supporting content that helps salespeople sell.

Trend #1: Value Selling

For more than a decade, sales training and methodology experts have focused on improving the consultative selling skills of salespeople—especially in complex selling environments. The concept is simple: first, salespeople identify customers’ needs; then, they demonstrate the ability of a solution to respond to that customer’s specific needs successfully.

Often called Value Selling or Solution Selling, this dynamic and interactive sales process replaces previously static, one-way techniques that debate the merits of competing features and functions.

While salespeople move toward creating a much more customized sales experience for each prospect, most marketing departments continue to deliver generic messaging using static collateral tools—a one-size-fits-all approach for a one-to-one world. No wonder salespeople are forced to scramble to create custom content, piecemealed from various sources, to demonstrate they have listened to the customer.

The first thing brand managers can do to help is translate their high-level positioning into street-ready value propositions and solution messaging that speak to customers the way salespeople have been trained to sell:

  • Create customer empathy by identifying and demonstrating a proper understanding of the critical do-or-die issues facing your customers. Do that for each level of the decision-making team and link it back to how they do their jobs today.
  • Next, determine and articulate the risks if they do not address these issues. Also, firmly establish and highlight the rewards if they do act. Take special care to find out how your customers will define success—determine what they want to brag about if they are successful in achieving positive results.
  • Then demonstrate how your company’s solution helps them respond specifically—and successfully—to their key do-or-die issues.

Trend #2: Dynamic, Personalized Collateral Building

Value selling has raised the bar, forever changing customer expectations about sales experiences. Customers expect company interactions to be personal, relevant, and tailored to their specific needs.

Meanwhile, marketing departments have tried to keep pace by adopting segmentation strategies, doing their best to tailor messages and create more customer-relevant positioning. However, the tools to deliver these increasingly sophisticated messages through the sales channels have lagged. So, we’ve seen a proliferation of static collateral tools designed to fit every occasion.

Unfortunately, salespeople are neither warehouse managers nor librarians, and they have difficulty tracking and finding suitable materials when needed. In response, marketers have set up sales intranets to supply 24×7 access to support materials.

While these intranets improve accessibility to materials, they don’t resolve the most significant issue facing today’s value-selling salespeople: the need to provide prospects with dynamic, personalized sales communications. With only static documentation, salespeople begin creating unique, customized documents for each sales situation.

Typically, this happens at the expense of the brand and the company. The lack of consistency between radio stations and from salesperson to salesperson—undermines the millions spent on brand awareness advertising. The extra time spent by salespeople crafting these personalized proposals, presentations, and collateral pieces keeps them from time better spent with customers.

Marketing’s big win is that every radio salesperson, even within a multi-entertainment environment, will now communicate a consistent company message. Imagine the brand-building power unleashed when sales reps begin delivering a persuasive, powerful, and pre-approved message at every point of customer contact.

Gary Begin can be contacted at: garybegin10@gmail.com.

Industry Views

Monday Memo: Be Conspicuous When Competitors Are MIA

By Holland Cooke
Consultant

imIn a recent column, I outlined win-win radio/TV station alliance tactics. This week, as stations are finalizing 2024 budgets, a tip for advertising your station on TV.

Dominate in January. Why:

— It’s a buyer’s market then, and your message won’t compete with other stations’ promotion. Slaves to conventional wisdom, they will be running DURING the Spring book, because they forgot that radio listening is habit, which will be set long before diaries and PPM will collect data. Smart stations derive a benefit message and set that habit BEFORE the book.

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— If you can trade for over-the-air stations, the price is right. In January they’re lean too. Can you trade – or afford to pay cash for – cable? Two reasons cable might be a better deal:

1. You can target your signal pattern better than over-the-air channels, whose coverage footprint is bigger than yours; and

2. You can buy channels with programming similar to yours. FOX News Radio affiliate? Buy FOX News Channel (and Newsmax).

Holland Cooke (HollandCooke.com) is a consultant working at the intersection of broadcasting and the Internet. He is the author of “Close Like Crazy: Local Direct Leads, Pitches & Specs That Earned the Benjamins” and “Confidential: Negotiation Checklist for Weekend Talk Radio.” Follow HC on Twitter @HollandCooke

Industry News

BIA Advisory Services: WTOP-FM Top Biller in 2022

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BIA Advisory Services announces that in the first edition of its Investing In Radio® Market Report for 2023, that the top billing radio station in 2022 was Hubbard Broadcasting’s all-news WTOP-FM, Washington ($69 million). It also reports that the total U.S. local radio over-the-air and digital revenue for 2022 topped $13.6 billion in 2022, an increase of 7.4% over the $12.6 billion total in 2021. Over-the-air advertising grew 2.2% to $11 billion (up from $10.7 billion in 2021) and digital income rose 35% to $2.6 billion (up from $1.9 billion in 2021). BIA VP of forecasting Nicole Ovadia says, “Looking at last year’s ad revenue results, it shows that radio is maintaining an important position in their local markets, particularly as it expands and improves its online digital presence. This year, we are making a particular effort to track the digital revenue of local radio stations and believe this breakout in our forecast will be valuable to everyone in the industry.” The BIA report notes that, aside from WTOP, “other all-news stations struggled.” Compared to last year’s list, Audacy’s all-news WBBM-AM/WCFO-FM dropped to the number nine position and WCBS-AM, New York dropped to the 11th position. New to the top 10 list is Cox Media Group’s news/talk WSB-AM/WSBB-FM, Atlanta ($31.6 million).