Happy Friday, everyone!
This week's poll question is a topic we've touched on in the past, but a recent email from Jack Walker of Branson, MO, made me realize it's a subject worth revisiting:
How does your radio station make money from its website, social media presence, and/or targeted email blasts?
Looking forward to reading your replies! (And thank you for your suggestion, Jack!)
This is another example from India. Recently one of the radio network Radio One 94.3 FM started simulcast of their terrestrial broadcast on Internet, www.radioone.in/.Though I am in Bangalore, I can still tune in to hear what the stations in Mumbai and Delhi are playing. This immediately multiplies the reach of the national advertisers on Mumbai and Delhi terrestrial feed and hence the additional monies that the station can charge from these advertisers.
Another example that you would like to check out: www.planetradiocity.com/
Through broadcasting the programs on the websites and other portals. But what I have seen in the Caribbean especially in Antigua, most persons don't see the potential reach that their products or services have by using the internet and other social medias.
The answer is much bigger than the question, but here is the crash course.
Mindset: It is important to keep your digital components in perspective. Your web/digital product is the “visual extension” of your station. Nothing more or less. The benefit to your client is reaching YOUR followers through an additional channel. Think of it this way….. If you have three radio stations in your market your clients are getting to YOUR radio followers through those channels. Now, let’s ADD your three stations web stream players, and three stations home pages. We have just added “six” additional channels for your clients to touch YOUR followers. If you have three facebook pages, you now have a chance to add THREE more channels for your clients to reach “YOUR” followers.
Here is the bigger picture. Your clients will now have the option of “visual” ad banners or pre-roll video which offers “imagery transfer” (talk about it on radio, and then see it at ______.com) or audio. That makes your product line ever more valuable.
Remember, the plumber in Indiana does not care about getting a customer in Texas, unless he is really ambitious. You and I already get that. We are merely offering that client an additional outlet for the local market that is using “YOUR” website or online product. The rest lies in the marketing strategy.
Pricing: Do not value add your web component. There are many ways to price your web product, I prefer to use CPM. You can use catch pricing, exclusive pricing…whatever your feel your market will bare. Whatever that is, make sure your web product has a “value”. My mentor used to always tell me that a “free cookie will always be free!”
In 2011, my market had 3000 in annual digital billing. This year we will write nearly 50K based in the above approach.
For examples of stream player monetization, please visit one of my stream players. http://kwro.com/common/page.php?id=161 This stream player alone bills over 3000 dollars per month.
Finally….have fun with this!
Good selling!!
At Astor Broadcasting, we only use our website and Facebook page for "added value". We find many advertisers have come to expect it in our competitive market.
By the way, we do stream our programming and we now have an app available in iTunes.
We sell a few ads on our main site, but we ALSO use the net to broadcast local sports!
We set up a separate website - www.SiouxEmpireSports.com to make it EASY to find!
I just started another concept. I own the website www.WeddingDancePros.com, so I set up a referral program with some local DJ's ($100 per show booked) If this continues to go well I want to set up a national site that other stations could use too! Let me know if you'd like to use it! ;o)
Thanks
John Small
