If only broadcast radio sales and marketing were as innovative and creative as they used to be.
I’m Tony Compton, welcome to my marketing podcast!
Broadcast radio has missed, is missing, and continues to miss media’s massive sales, marketing, and tech revenue wave.
I’ve read — and I’ve read the commentary about - recent quarterly financial reports from many publicly-traded broadcast radio and media owners. I’ve also read about revenue predictions, the opportunities that lie ahead, and the challenges presented by current market conditions.
Broadcast radio needs immediate new sources of substantial advertising and marketing revenue.
I’ve read that broadcast advertising revenues are declining. That there’s market pressure. And there are advertising headwinds.
Yet not one drop of ink in what I’m reading about right now measurably expands radio’s new business territory into B2B tech and its ‘bursting at the seams’ software and services sectors. And that’s putting all of that mildly.
For those in local and national radio sales responsible for uncovering, closing, and protecting new revenue opportunities who were not paying attention, the New York Times recently published an article about how businesses are spending ‘hundreds of thousands of dollars’ to add in-house production and broadcast facilities to meet the needs, wants, and demands for content.
There’s that word again. Content. Hey, that’s great! Only it’s the second most important part of go-to-market efforts. Number One is the ability of your sales, marketing and executives to speak to and deliver that content.
Those businesses spending that money are going to need all the help they can get to make the most out of those hundreds of thousands of dollars.
Let’s expand. Millions and millions are being spent on supporting comprehensive product marketing and sales enablement initiatives. Lead and sales opportunity programs. Integrated Campaigns. Go-to-market programs and product launches. Branded Events, Demos, Webinars, Streaming Media. Podcasting. Digital. Social. Live and On-Demand. Public Speaking and Presentation Efforts.
And advertising. Yeah… advertising. Digital, social, broadcast, mobile, streaming…whatever you want to call it.
There’s a lot at stake. And the money is already being spent. But, where’s radio?
Like a fading AM signal from a small town in the rearview on a long-distance road trip, broadcast radio is seemingly out of touch with this massive market trend.
I’ll talk more about connecting radio over here and the B2B tech business opportunities over there on my next podcast, which will be experienced, down to business, and right to the point.
Now That’s a Marketing Podcast!
I’m Tony Compton.