Saturday, May 8, 2010

Revenue Ideas

It seems none of us in the Broadcasting business can take a breath these days without reading about or hearing about the need to maximize our Internet presence and revenue opportunities.
 With few exceptions every “expert” seems to think we’re all doing it wrong, or not doing enough.
We all know there’s usually a better way, depending on who you ask, to do most anything. I’m not writing this to try to tell you I know a better way. Rather, I would like to offer five ideas on “different” ways you might consider trying to increase your Internet revenue. Some you may already be doing. Some you may be thinking about but just haven’t gotten around to doing anything about it yet. And maybe there might be something you haven’t considered.
Whichever, here goes. 
  • Hire a sales staff separate from your Broadcast sellers whose sole revenue source is from the Internet. They don’t have to be Internet experts. They should concentrate on being problem solvers for their clients.
  • The Internet gives you more ways to help a client than Radio alone can. Your Internet sellers should be concentrating on Yellow Pages and newspaper advertisers in particular. Think video presentations and couponing for starters.
  • Consider opening your own Internet store. You have the perfect advertising vehicle right under your own roof. Let Radio drive traffic to the site or sites. You can be the retailer for almost anything. Google “wholesale Internet marketers” for lots of products your “store” can retail.
  • If you’re in the HD business, how much money did it made for you this past year? At what expense? Consider replacing it with another Internet stream with programming not found in your market. Do a client community survey to find out what’s missing in their minds. If you build it, they will come.
  • Use your morning show and music director to develop podcasts featuring comedy bits and music oriented features for mobile.
 It’s just possible your Internet sales staff will out perform your Radio sellers if given the time and financial support any new business needs to succeed.
Bob Glasco

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