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There is no denying the obvious fact that our media landscape has changed dramatically. And during these transitional times, radio, along with the other standard media, is feeling the financial impact of the so-called new media.
Meanwhile, this country’s economy has stalled or, at best, is cruising along in low gear.
Under these circumstances, there is a tendency for many radio station operators to remain in a neutral position and, thereby, just coast along, hoping that the situation will improve somehow, somewhere, down the road.
However, remaining in idle is not a sound or productive strategy. Effective programming and marketing, along with incorporating the advantages of online radio and the rest of the applicable Internet, are more positive alternatives for meeting the bumps in the road which stations may be experiencing now or those challenging obstacles which lie ahead.
With respect to this serious situation, a prominent radio executive was quoted as saying, “Our number-one industry challenge is to remain relevant.”
That being the case, it is incumbent upon owners and operators with troubled properties to be aware of the changes in their markets, to keep listening to their listeners and to be active, contributing participants in their communities. Being aware of these challenges and meeting them in an aggressive manner, is a major and necessary step toward “remaining relevant.”
Opportunities Exist On The Road Less Traveled
For those stations with dwindling audiences and decreasing revenues, perhaps the time is appropriate for exploring other viable programming and marketing options? The following are a few suggestions for consideration:
A Change In Format Direction
Naturally, before attempting any major programming commitment of this magnitude, a thorough evaluation of your market, the competitive situation and your financial and human resources is essential, prudent and mandatory.
“Ladies In Waiting”
Stagnating market conditions, new media competition and similar types of music offerings may be the ideal conditions for introducing an Adult Contemporary format tailored exclusively for females in a desired demographic…with music, news, features and promotions tailored specifically for the women in the home, on the job and on the town, on the go.
There are numerous studies and research data to support this format concept. Numbers indicate that women make 75% of buying decisions in the home and females may soon dominate the workforce.
When formulating this programming approach, it should be strongly noted that content is key. What you present and how it is presented and promoted to this designated audience, will determine its degree of success. And given the research data, thousands upon thousands of prospective women listeners are waiting for a radio station with which they can identify…one they can literally call their own.
Granted, there are a number and a variety of formats designed to attract the female listener but fail to actively “invite” them to listen via a women-exclusive marketing campaign… primarily, for fear of losing or alienating their male listeners. Therefore, what you have is a “hybrid’ and not a true women-exclusive format.
In today’s new media world, the conditions appear ripe and logical, from a business standpoint, to pursue all the numerous positive possibilities of a format exclusively for the ladies. And this could be an ideal time. After all, it’s not nice to keep the ladies waiting.
“Oldies But Goodies”
Somewhere in your radio experience, you probably have heard the phrase that, “60 is the new 40.” More that just numbers, this sequence of words may be a golden opportunity for station owners and operators.
The 60 plus generation, an often-overlooked population, is a vibrant, active demographic with considerable buying power. Census numbers reveal that there are over 35 million adults in the U.S who are 65 years and older. And approximately 30% of this total are still working. Is it any wonder why savvy and aggressive marketers and retailers are catering to this segment with a variety of “senior” products, services, promotions and events?
And according to current studies, the older population spends less time on the computer and little, if any, time Facebooking, Twittering or Ipodding. A radio format vacuum exists regarding this demographic.
With the exception of some public radio offerings, where can the elderly generation tune in terrestrial radio and listen to the music, news and features that are meaningful to them? The 60 Plus generation deserves a radio voice. Because the opportunity exists now for radio to offer the “Oldies” some radio “Goodies.”
Other Ways To Go
Aside from format changes and incorporating new digital media possibilities, station owners, programmers and sales managers should explore various on-air possibilities…ones that will generate needed revenues. For consideration, explore these easy-to-introduce and execute suggestions:
“The Laugh’s On Us”
In comedy, they say that timing is everything. This same advice could be applied to the business world. Given today’s gloomy economic picture and with consumer confidence at low ebb, the timing is perfect to add a little levity to everyday radio programming and thereby create a vehicle to attract listener attention and, in the process, prospective sponsors.
“The Laugh’s On Us” should be developed as a five-minute recorded feature comprised of an open, close and a 30 or 60-second commercial. Content for the comedy portion can be obtained from selected popular comedy albums by famous comedians specifically selected for your audience demographic. This feature is designed to get listeners to relax, enjoy and escape…for at least a few moments…the dreary news and troubles of the day.
“The Laugh’s On Us” offers the station a variety of unique off-air and on-air marketing, promotion and publicity opportunities. An example: produce numbered buttons with the station’s call letters, etc.
“The Laugh’s On Us”
WLAF/1540
(sponsor logo & contest number)
Pass out buttons at various station functions and events. Then broadcast the winning “Lucky Button” numbers throughout the designated contest period, award prizes and recognize winners. And, just for laughs, have the winners appear on the station and tell their favorite jokes to your audience.
“The Dot Spot”
The Dot Spot is a ten-second innovative sales approach that takes advantage of the computer-age aspect of marketing. Today, with most companies and businesses featuring their Websites in their various forms of advertising and marketing, The Dot Spot’s message is created to focus on inviting listeners/consumers to “log on” or “click on” to the advertiser’s Website and take advantage of special feature items.
The Dot Spot gives the station’s sales staff something different and “fresh” to sell to prospective advertisers, as well as, to current clients.
Mind Your Ps
Positioning, Packaging, Promotion
As previously stated, whether changing your current format or just fine-tuning your present programming, concentrating on content should be your major priority. Content is the engine that drives all other aspects of this process. However, in this writer’s opinion, without incorporating the 3Ps is equivalent to planning and organizing a big, wonderful, expensive party with all the help, food, music and favors…but then failing to send out the invitations.
Positioning your station, to your designated target, is based on careful analysis of current research for your desired demographic, market conditions and the competitive situation. Next, determine how your station differs from the others in your listening area with respect to all elements of your format. Then create a thematic…one that instantly and unmistakably identifies your station from all others in the marketplace…one that gives your station a personality. Packaging then incorporates this thematic into every aspect of your station’s operation , while Promotion reinforces this theme via advertising, the digital media, merchandising, publicity and on-air and off-air activities to attract your designated target audience
Arriving At That Fork In The Road
Obviously, there is no turning back to radio’s “glory days.” For a station with listener losses and revenue reversals… it’s decision time. Do you keep traveling down the same unproductive road or do you take the one that addresses the current media mix and changing market conditions?
Advice that affords little help but lends a bit of humor to this dilemma is offered by Yogi Berra, the former New York Yankee, who once suggested, “When you come to a fork in the road…take it.”
Humor aside, your decision is a difficult one. Therefore, considerable thought and planning are essential.
A few thought-starters, for your consideration, have been suggested within this article. The sole purpose of which is an effort to help radio to “remain relevant.”
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