Tag: radio format

Industry News

Audacy Promotes Value of News/Talk Audience to Advertisers

By TALKERS | by TALKERS

In an insight piece titled, Attention is Heard to Earn: News/Talk Already Has It,” Audacy presents a strong argument for the value of the format to advertisers. Some of the key elements of the presentation include: 1) News/talk is now the No. 1 radio format across broadcast and streaming, accounting for 22% of all AM/FM imgstation streaming, nearly 3x the next closest format; 2) One in four Americans now identifies as a “News Fanatic,” checking the news five or more times a day and actively seeking deeper context – not just headlines; 3) News/talk listeners are more loyal than sports fans. Fifty-four percent are primary listeners who spend most of their listening time with news/talk, compared with 41% for sports; 4) Trust remains news/talk’s biggest advantage. Local news radio is trusted by 84% of listeners – higher than broadcast TV, national news radio, or social media; 5) The audience has significant buying power. Median household income is approximately $95,000, with listeners over-indexing for net worth above $2 million; and 6) The advertising works. Among ad-exposed consumers, news/talk campaigns drive 56% awareness, 47% consideration, and 49% purchase/conversion, while Audacy campaigns generate an average 24% lift in website traffic, with some categories seeing increases as high as 67%. See more here.

Industry Views

Pending Business: Package for Profit

By TALKERS | by TALKERS

By Steve Lapa
Lapcom Communications Corp
President

Is it just me, or has packaging become a lost art?

What was once a go-to revenue builder, has become a function of muscle memory and is presented with the enthusiasm of watching paint dry. Am I getting at least a “maybe?” If so, and you feel like the packaging treadmill is going to wearing you down, let’s regroup. For the manager and ultimately the seller, every package must answer four basic questions:

  • That is the (revenue) goal?
  • What is the timeline?
  • What is the unique factor?
  • If it fails to sell, do we drop it or revise?

Now let’s review the 10 basic packages:

  • New Business. You should have a simple new business package available each quarter that can either be sold as is or serve as a start point.
  • Event Tie-In. Like the title says, this package will help your advertiser benefit from an event your station is tied into or sponsoring.
  • New On-Air Talent. This is where you show the value-based opportunity to work with a new talent in your lineup.
  • Special Programming. Every radio format will run a special program of some kind during the year. From election coverage and exclusive interviews to countdowns, just package and sell.
  • Slow Season. Is there a special package offered on a limited basis to help power through when business hits a red light?
  • Sports. Needs no definition, just a little updated creative thinking.
  • Calendar Holidays. This is the gift that never stops giving. Mother’s Day, Christmas, Valentine’s Day, Thanksgiving, come every year. What’s new in your package?
  • Base Programming. News, Traffic, Weather, if your radio station offers the basic service elements, talk to your programming people for new packaging ideas.
  • Emergency Programming. With direct coordination of programming, emergency programming offering special weather, disaster or other community-oriented programming can always open a new door. Remember this type of programming is always a spotlight for radio’s immediacy.
  • Bundling your digital and social media assets can help move the needle with local advertisers. I’m not advocating a giveaway, just suggesting competitive thinking in the fast moving, high growth digital advertising universe.

Back to where we started. This is the simple takeaway: Packaging is the art and science of selling with a value component that easily answers the question, “Why buy now?”

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