Pending Business: Summertime Blues
By Steve Lapa
Lapcom Communications Corp
President
When 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.
The best thing about attending media conferences like TALKERS 2024: Radio and Beyond, which occurred last week on June 7, is the opportunity to hear diverse viewpoints from industry experts. Gatherings like these also provide the opportunity for attendees like me to “chew” on some of the great ideas presented by the expert panelists and think about solutions to some of the challenges raised during the discussions.
originate content using FM boosters and is intended to do so without raising the potential for harmful co-channel interference to the reception of the primary station’s signal outside the coverage area of the booster station or to previously authorized secondary stations.” GBS filed a petition on March 13, 2020, proposing to give FM broadcasters the option to use boosters to originate programming to specific zones within their stations’ service area, proposing to allow program origination for a limited period totaling three minutes per hour… During that limited period, GBS proposes that the FCC allow the booster to originate geo-targeted advertisements, promotions for upcoming programs, and other hyper-localized content, suggesting it would benefit small and minority-owned broadcasters, because potential advertisers that currently find it prohibitively expensive to buy spots reaching a radio station’s whole service area might purchase lower-cost airtime reaching a more targeted area, thereby becoming a new source of station revenue.”
Will video save the radio star? I hope so.
Is that host read you are pitching “baked-in?”
Have we passed the disappointment of 2023?
market, Cumulus operates news/talk WBAP-AM/FM, news/talk KLIF-AM/FM, sports talk KTCK-AM/FM and two country music brands. Cumulus regional vice president Dan Bennett says, “I can’t say enough about our air talent and programming team who understand that serving our community in Dallas-Fort Worth means raising awareness for organizations that give a lift to people who need it. They give so much of their time to make a difference and 2023’s efforts show the incredible results.”
director at WIVB-TV, Buffalo and served as a weekend anchor at WBEN-AM in 2002 and at sister WGR-AM in 1999. Audacy Buffalo SVP and market manager Tim Wenger states, “Lisa’s extraordinary background in leading award-winning content generation in local television news will be invaluable for WBEN as it continues to evolve as the radio station that’s always there when the community needs it the most. I look forward to Lisa taking an already stellar brand to new heights.”
Consultant Gary Begin of Sound Advantage Media writes today in a piece for TALKERS magazine in which he says that quite often there is a disconnect between the brand of a radio station and the brand-supporting messages that the sales staff is presenting to prospects. He says, “Experts in branding seem to be coming around to 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.” He adds, “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.” He says there are two trends that will drive marketers’ efforts to create brand-supporting content that helps salespeople sell.” 
It may seem impossible, but you need to stay in your lane.
Radio station personnel could be facing the worst environment – ever!
Are you a multiplatform juggler? If you sell or manage for a radio station, the answer is yes.
What will hurt your chances of sales success more, graduating from a low-ranked college or attending too many inefficient sales meetings?
and familiarity people have for their local radio stations to help them sample and choose from curated podcasts. Podcast Radio broadcasts 24/7 online and via app and smart speakers. It is monetized by selling traditional on-air advertising and sponsorships, inserting commercials into its online audio stream, partnering with international content makers, and making original podcasts and bespoke audio content that resonate with audiences.” 
production, proposals and completing all CRM and management required reports for the company. KBLA is looking for a savvy, highly motivated sales professional to join our team selling traditional, digital, and event marketing solutions in Los Angeles for the only Black talk radio station west of the Mississippi. Our ideal candidate is a goal-oriented, relentless hunter who drives to win new business and has a track record of exceeding monthly goals. If you are passionate about selling, have a deep knowledge of marketing principles and products, and possess excellent presentation and closing skills, then we’d love to talk to you!
I’ll bet dollars to doughnuts the updated sales facts below are nowhere to be found in your radio station’s collateral material. This bold challenge is in front of you today as a wakeup call before the calendar becomes your frenemy.
sportsbook branded radio station in the country.” Hubbard Seattle market manager Trip Reeb says, “We’re thrilled to bring this first-of-its-kind partnership to this market and radio industry. Building on our long and successful partnership with Tulalip Resort Casino allows for countless cross promotional opportunities as well as the ability to capitalize on the rapid expansion we’ve seen in the sports betting space, as well as the specialized sports betting content VSiN delivers.”
