I have been in a real quandary for some time with this question. Most of the dollars spent in radio is on the product. Okay this makes sense… create a great station and you’ll attract listeners. And in turn the next logical step is with a great station you’ll attract lots of advertisers right…wrong!

The truth is radio spends too much money on the product relative to the amount spent on recruiting and marketing to potential advertisers. What is the marketing strategy that broadcasters use to recruit potential advertisers? Do we feel confident in the “Radio Heard Here” campaign? Are radio stations, on a local level, able to track the amount of ad revenue directly tied to this campaign…come on please.

The power of radio is evident and with the advent of digital apps for audience engagement there is a bright future. We have a viable medium but we are terrible marketers. On-air radio testimonials, about how radio work’s, is a good place to start but honestly that’s where most broadcasters stop.

Because of innovation, the way potential advertisers make a buying decision has changed. A cold call to the business either via phone or in person is no longer the best use of a media company’s sales resource. Radio and other media companies need to ask themselves if they doing a good enough job educating potential advertisers at this point of decision? 90% of B2B purchase decisions begin with an online search. A better way to reach and attract potential advertisers is on the web while they are searching for and looking for an advertising solution. If we supply them with compelling content about the benefits of radio advertising then we can affect their decision to buy. Business owners want information on their time. A good example of this is www.areasbestbusiness.com.

With our present economic crisis, radio is presented with a real opportunity. It lies, not solely in the lowering and commoditization of its spots, but in its ability or perceived ability to meet the needs of potential advertisers when needed most. Radio can help rescue business owners in your community and be well remembered for its help for years to come. The simplicity of this concept lies in the inherent strength of radio to engage the theatre of ones mind. If your interested in learning more let’s hear from you. corwin@higherratings.com