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Go Big Or...?
It is time for the radio industry to go big and do the unprecedented. The number one metric radio has been touting is its huge reach. But for the most part this figure has fallen on deaf ears at the country’s major ad spenders. Advertisers like to generate reach quickly. They are enamored with reach velocity, which is why they are willing to pay a premium for network TV, major sporting events, and awards shows. Reaching potential customers immediately is considerably more appealing to most major national advertisers than building the same amount of reach over a three-week campaign. The Chicago broadcasters “get it,” and have illustrated the power of radio and its ability to generate instant reach with the roadblock broadcast of a client touting the power of radio. And before that, 47 radio stations, also in Chicago, broadcast a 30-minute conversation with the city's mayor. Let’s take it up a notch and get all radio broadcasters throughout the country to band together to synchronize their clocks and make available to national advertisers a TDB number of roadblocked commercials each week. The reach (19 million-plus) generated would rival top-rated TV shows and would be DVR-proof while opening up a new revenue stream for the medium. Katz or the RAB could approach any number of national advertisers — the automotives, which are constantly debuting new or updated models; the studios that are touting the next blockbuster; or any other national advertiser who is promoting a time-sensitive, call-to-action sale or event. Offering these advertisers this type of mass-reach option would likely be an appealing marketing proposition. I understand that this might not be as simple as it sounds for a number of reasons — the first one being syndicated shows — but it is worth investigating with a “How can we?” mindset. Bold moves are required to reinvigorate the industry’s revenue outlook. This tactic could be one of them. It might make sense to begin this conversation at the upcoming Radio Show. I'll be there. Let's talk.
PS: If you're going to the Radio Show, Roy Williams and I will be revealing some new concepts for radio at a special pre-convention one-day event at the Wizard Academy on Tuesday Sept. 5. It's only open to 30 people and promises to rock radio's world. You can learn more here.
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