Radio Web Strategy..Updated: NOV. 2009
A collection of smart and dumb web practices being used by some Radio stations.
Many of these examples are applicable to Newspaper, TV, and online only companies.
Streamlining Your Accounting A Guide to QuickBooks Migration Tools.pptx
Radio Web Sales Strategy 11/09
1. How Smart Radio Stations Leverage 11/2/2009
Interactive Assets
radio.com $
how smart radio stations
leverage interactive assets
online revenue strategy
& business model development
UPDATED: Nov. 2, 2009
MelTaylorMedia.com
267-625-5313
radio web strategy ?
Mel Taylor Media 267-625-5313
www.MelTaylorMedia.com
Meltaylor2000@Gmail.com 1
2. How Smart Radio Stations Leverage 11/2/2009
Interactive Assets
reality check
your radio website business plan
from past 2 years…
will likely not work
y
over next 2 years
you may need a local web sales
‘crisis intervention’
mel taylor
background
• radio • newspaper • sales management • talent, reporter
• internet • television • content, production • sales training
Mel Taylor Media 267-625-5313
www.MelTaylorMedia.com
Meltaylor2000@Gmail.com 2
3. How Smart Radio Stations Leverage 11/2/2009
Interactive Assets
radio.com $
This is a collection of observations, realistic recommendations & tough love for Radio
& it’s emerging online business models. UPDATED 11/1/09
g g / /
Radio’s current, local online revenue share is about 2%. That small number can be easily
increased by adopting the information contained within.
Bottom line: For Radio to grow it’s online, and (more importantly) it’s overall revenue share, it
needs to smartly leverage it’s unique portfolio of assets, with online playing a major role.
Mel Taylor is a Philadelphia-based consultant, specializing in online revenue strategy
& sales training for local media.
Mel is a highly-rated and often provocative speaker/trainer, with a 13 year background in Radio that includes
on-air, sales & web management.
In 2002, Mel reluctantly exited the Radio industry to spend more time with TV, Newspaper & Online-only
companies, who were more advanced with online revenue at the time.
“I’m incredibly happy to finally return to Radio, sharing what I’ve learned about online revenue strategy from
those online market leaders”.
mel taylor media
what we do
help local media develop
realistic & profitable web business models
• training & consultation
• sales & business model strategy
• editorial & programming
• video & multi-media
• web 101 seminars for local business
Mel Taylor Media 267-625-5313
www.MelTaylorMedia.com
Meltaylor2000@Gmail.com 3
4. How Smart Radio Stations Leverage 11/2/2009
Interactive Assets
sound familiar ?
• you invested in platforms, software & manpower
but… where’s the real money?
• you spent on research to help you sell
how do you consistently monetize this data?
• consultants helped you close quick, web revenue
lt t h l d l i k b
eventually, this easy money went away
• radio execs follow other radio execs for web ideas
some say: blind leading the blind ?
forces hurting
radio business model
• music & news as commodity
• listener & advertiser has more choices
• internal conflicts
• reduced staffing & resources
• erosion of barriers to entry
• economy pushing advertisers to web faster
Mel Taylor Media 267-625-5313
www.MelTaylorMedia.com
Meltaylor2000@Gmail.com 4
5. How Smart Radio Stations Leverage 11/2/2009
Interactive Assets
radio & web
nowhere to go…but up
2008 local web revenue shares
simple solution
sounds too easy…. huh ?
1. look outside of radio for guidance
2. select tactics from web revenue leaders
3.
3 mix with radio’s unique strengths
4. leverage for increased market share
Mel Taylor Media 267-625-5313
www.MelTaylorMedia.com
Meltaylor2000@Gmail.com 5
6. How Smart Radio Stations Leverage 11/2/2009
Interactive Assets
BEWARE of newspaper’s mistake
shovel ware
newspapers t k their print content,
took th i i t t t
and ‘shoveled it’ online
is radio
making same mistake?
Mel Taylor Media 267-625-5313
www.MelTaylorMedia.com
Meltaylor2000@Gmail.com 6
7. How Smart Radio Stations Leverage 11/2/2009
Interactive Assets
old thinking
radio & web
web revenue primarily from:
• in-stream spot sales
• banner ads on website
• creating a “radio site”
• brand extension strategy
new thinking
radio & web
grow overall revenue:
• leveraging all assets to grow share
• digital playing major role
Mel Taylor Media 267-625-5313
www.MelTaylorMedia.com
Meltaylor2000@Gmail.com 7
8. How Smart Radio Stations Leverage 11/2/2009
Interactive Assets
culture change
job descriptions
no longer
a radio company
• now: local content & marketing co.
• aggregate, distribute & sell multi-platform
• reps as mini-agencies
has HR updated this yet ?
mandatory re-think
programming/content
must think revenue too
Mel Taylor Media 267-625-5313
www.MelTaylorMedia.com
Meltaylor2000@Gmail.com 8
9. How Smart Radio Stations Leverage 11/2/2009
Interactive Assets
core radio
business
• radio
• audio
• advertising
g
• websites
• enabling commerce
core radio business
local assets
• reach over 90% local consumers
via news, music, talk, audio formats
• sales force & support staff
• advertiser relationships & brand trust
p
• traditional & digital distribution
• on-air, online, on-site
notice the omission of ‘radio’ & ‘website’ ?
Mel Taylor Media 267-625-5313
www.MelTaylorMedia.com
Meltaylor2000@Gmail.com 9
10. How Smart Radio Stations Leverage 11/2/2009
Interactive Assets
slaughter these
sacred cows
• programming & marketing fully control site
• build commodity content, dump off to sales
• your brand is enough to win online
• cpm only banner selling
cpm-only
• over-reliance on ad networks
• over-reliance on streaming terrestrial signal
questions to assess your
online revenue strategy
Radio GM’s focus on business profitability first. Do your Web managers?
Do the people running your digital division have what it takes to build a
profitable business?
Does your Interactive VP have a sales management & revenue-focused
background? Many Interactive VP’s in the broadcast industry have come
up through the tech/content side. We believe this is a main contributor to
why most broadcasters struggle to grow profitable, online business models.
Caution: you might be building sites filled with content that continues to
be commoditized. The financial returns on these types of efforts are
typically weak, limited, or are in decline.
Mel Taylor Media 267-625-5313
www.MelTaylorMedia.com
Meltaylor2000@Gmail.com 10
11. How Smart Radio Stations Leverage 11/2/2009
Interactive Assets
questions to assess your
online revenue strategy
Does your local webmaster, PD or marketing director run the site? If so, you
don’t yet have a web revenue strategy….you might only have resource
hog that makes little or no money.
Is Web commission structure similar /better than new biz commission?
Are you sure sales reps are not just moving spot dollars to the Web line?
Can your sales staff comfortably sell Web and overcome common
objections? Do you know what these common objections are?
Do your managers have strong grasp of Web, and the competitive online
environment? If not, how will they effectively manage the effort?
questions to assess your
online revenue strategy
Who is running your digital portfolio ? For web to be an integral part of
revenue growth, Broadcasters need leaders with the following qualities:
• proven sales, biz-dev, and training background
• entrepreneurial mind
• awareness & comfort in fast changing, media environment
• understands how Radio can exploit it’s unique portfolio of assets
What kind f t i i
Wh t ki d of training are you providing to your staff? I it ongoing?
idi t t ff? Is i ?
Is staff being trained by someone with proven online sales experience?
Someone with experience in selling against and for: Newspaper, TV, and
online-only companies?
Are you doing more than just selling banners and spot upsells ?
Mel Taylor Media 267-625-5313
www.MelTaylorMedia.com
Meltaylor2000@Gmail.com 11
12. How Smart Radio Stations Leverage 11/2/2009
Interactive Assets
Is your website: listener & advertiser friendly?
Or: a train-wreck of marketing/programming content?
Is your site full of non-proprietary content that users
can easily get on other online properties?
How much hi-value, advertiser-friendly, proprietary content is on your site?
typical
radio website ?
• dumping ground
• fun & games
• value-add stuff
value add
• non-IAB.net units
Mel Taylor Media 267-625-5313
www.MelTaylorMedia.com
Meltaylor2000@Gmail.com 12
13. How Smart Radio Stations Leverage 11/2/2009
Interactive Assets
excellent radio site on-air & online synergy
advertiser friendly custom ad sponsorships
proprietary content database & promotions
• primarily a marketing & programming site…not good
• driving lo-value page-views via ‘chicks that rock’
Mel Taylor Media 267-625-5313
www.MelTaylorMedia.com
Meltaylor2000@Gmail.com 13
14. How Smart Radio Stations Leverage 11/2/2009
Interactive Assets
what online content
should radio build ?
determine local content hole
>> local consumer need NOT being met online
>> of little interest to national, online only company
>> can leverage support of on-air
determine advertiser demand
>> what categories want to advertise in this content?
Mel Taylor Media 267-625-5313
www.MelTaylorMedia.com
Meltaylor2000@Gmail.com 14
15. How Smart Radio Stations Leverage 11/2/2009
Interactive Assets
recent findings
online spending trends
• banner ads down
• email
• search
• video up
• directories
• promotions
online video
that pays
Mel Taylor Media 267-625-5313
www.MelTaylorMedia.com
Meltaylor2000@Gmail.com 15
16. How Smart Radio Stations Leverage 11/2/2009
Interactive Assets
best revenue-producing
VIDEO practices
• video in banner
• sales-based video player
• search optimize video
• online info-mercials
info mercials
• seed multiple channels
it’s NOT pre-roll….yet
video micro-site
• t k share from tv/cable
take h f t / bl
• ad-vertorial
• ez & cheap to produce
• your biz seen by more
• b tt search results
better h lt
• never a wasted play
http://essentials.baltimoresun.com/micro_clients/lifebridge/
Mel Taylor Media 267-625-5313
www.MelTaylorMedia.com
Meltaylor2000@Gmail.com 16
17. How Smart Radio Stations Leverage 11/2/2009
Interactive Assets
online info-mercials
Click here to watch sample
http://meltaylorclientsamples.blogspot.com/
online photo-mercials
Click here to watch sample
http://meltaylorclientsamples.blogspot.com/
Mel Taylor Media 267-625-5313
www.MelTaylorMedia.com
Meltaylor2000@Gmail.com 17
18. How Smart Radio Stations Leverage 11/2/2009
Interactive Assets
common video mistakes
that scare advertisers
• inconsistent quality
– production value
– composition, sound & lighting
• f
fear of user generated content: UGC
f t d t t
• subject matter doesn’t require video
• clips gets limited views
Mel Taylor Media 267-625-5313
www.MelTaylorMedia.com
Meltaylor2000@Gmail.com 18
19. How Smart Radio Stations Leverage 11/2/2009
Interactive Assets
video prospects
•existing clients
•TV wanna-be’s
•ego-driven clients
•newspaper clients
•cable & tv clients
large format banners
Mel Taylor Media 267-625-5313
www.MelTaylorMedia.com
Meltaylor2000@Gmail.com 19
20. How Smart Radio Stations Leverage 11/2/2009
Interactive Assets
• page takeover
• site take-over
• section sponsorship
• roadblock
Mel Taylor Media 267-625-5313
www.MelTaylorMedia.com
Meltaylor2000@Gmail.com 20
21. How Smart Radio Stations Leverage 11/2/2009
Interactive Assets
radio
king of promotions
web + radio + promotions = revenue
70% of Super Bowl Advertisers
used integrated promotions
(2008 cpg)
Mel Taylor Media 267-625-5313
www.MelTaylorMedia.com
Meltaylor2000@Gmail.com 21
22. How Smart Radio Stations Leverage 11/2/2009
Interactive Assets
radio
targeted email
targeted email
online promotion
integrated
radio campaign
build database download coupon
join contest
j i
watch video
data capture
dumb practice
letting
ad networks
on home page
& section fronts
Mel Taylor Media 267-625-5313
www.MelTaylorMedia.com
Meltaylor2000@Gmail.com 22
23. How Smart Radio Stations Leverage 11/2/2009
Interactive Assets
ad networks on home page
not smart
client cancellations
common reason: poor banner design
Design your banner as if:
• Speed by at 70 mph
• 2 seconds of attention
Mel Taylor Media 267-625-5313
www.MelTaylorMedia.com
Meltaylor2000@Gmail.com 23
24. How Smart Radio Stations Leverage 11/2/2009
Interactive Assets
banner design
1. KISS keep it simple stupid
2. clear graphics/ messaging
3. understood in 2 secs ?
4. no web address needed !
banner design
5. what is goal ?
> branding
> message awareness
> direct response: call to action
Mel Taylor Media 267-625-5313
www.MelTaylorMedia.com
Meltaylor2000@Gmail.com 24
25. How Smart Radio Stations Leverage 11/2/2009
Interactive Assets
traditional media
specialty sites
These print & broadcast companies determined the online content &
revenue hole in market, then filled with separately branded web site & URL
Metromix.com
Tribune Media’s entertainment site
LVBrideandGroom.com
Newspaper’s wedding site: monetizing targeted database
ToastedRav.com
Bonneville Radio’s entertainment portal, supported by 4 stations
PHrequency.com
Philadelphia Newspaper’s local music website.
do you have plan to
sell non-radio
clients too?
all
local business
in market
current radio current
advertisers radio
using advertisers
radio web assets
radio struggles to get clients
on their own website
can radio tap the REAL upside?
offer web solutions to entire business community
Mel Taylor Media 267-625-5313
www.MelTaylorMedia.com
Meltaylor2000@Gmail.com 25
26. How Smart Radio Stations Leverage 11/2/2009
Interactive Assets
new competitors
offering web to local business
Offering
Search Engine •search engine marketing
Marketing
•search optimization
•enhanced directory listing
Directories >> video, graphics
>> webpage with SEO
• resell search
where radio’s
auto spend is going ?
Mel Taylor Media 267-625-5313
www.MelTaylorMedia.com
Meltaylor2000@Gmail.com 26
27. How Smart Radio Stations Leverage 11/2/2009
Interactive Assets
even cable sellers are offering web
to local business
53
local business now using
twitter, facebook & email databases
Mel Taylor Media 267-625-5313
www.MelTaylorMedia.com
Meltaylor2000@Gmail.com 27
28. How Smart Radio Stations Leverage 11/2/2009
Interactive Assets
pizza shop has over 1800 ‘followers’ on twitter.
when owner wants to drive immediate business, he sends‘tweet’
that says.. free toppings & soda 2nite 7p-mid
gourmet food truck sends tweets to inform
customers where they will be parked that day,
and at what specific times
Mel Taylor Media 267-625-5313
www.MelTaylorMedia.com
Meltaylor2000@Gmail.com 28
29. How Smart Radio Stations Leverage 11/2/2009
Interactive Assets
local business
build & buy ads
on national sites
using self-serve
www.AdReady.com
sales team structure
hybrid approach for near term
• web specialists target new biz, web-only buyers
• web specialists assist & train traditional reps
• mandatory web sales for reps
• convert all reps to ‘super-sellers’ over time
Mel Taylor Media 267-625-5313
www.MelTaylorMedia.com
Meltaylor2000@Gmail.com 29
30. How Smart Radio Stations Leverage 11/2/2009
Interactive Assets
goal: integration
• reps become super sellers
• 1 point of contact for client
• able to offer many solutions
• reps as ‘mini-agencies’
• sell total reach/power of all platforms
how to get buy-in
from all staff
• overhaul compensation
• update job descriptions
• consistent web training for ALL
it t bt i i f
especially top & mid-management
* how can top & middle-managers “manage”…what they don’t fully understand ?
Mel Taylor Media 267-625-5313
www.MelTaylorMedia.com
Meltaylor2000@Gmail.com 30
31. How Smart Radio Stations Leverage 11/2/2009
Interactive Assets
overhaul comp
• revenue targets per rep
• new business per rep
• % of current clients using web
f t li t i b
• close non-radio clients
why do we talk like this? • tech
it’s confusing for client
& the sales rep !
• cpm
• pageviews
• uniques
• leaderboards
• click-thrus
c c us
• weird vocabulary
• monthly pricing
Mel Taylor Media 267-625-5313
www.MelTaylorMedia.com
Meltaylor2000@Gmail.com 31
32. How Smart Radio Stations Leverage 11/2/2009
Interactive Assets
super dumb practice
protecting ‘rate card integrity’
@ $10.00 cpm
and then…..
selling large amounts of unsold
inventory to ad networks
@ 75cent cpm
really dumb practice
web sellers quote monthly,
instead of weekly rates
broadcast & newspaper quote weekly
sounds I can’t afford almost
expensive $2,000 per month !
sounds I can handle
reasonable $475 per week
Mel Taylor Media 267-625-5313
www.MelTaylorMedia.com
Meltaylor2000@Gmail.com 32
33. How Smart Radio Stations Leverage 11/2/2009
Interactive Assets
another tactic
to drive web revenue
web advertising 101 seminars
for local business
why a client seminar ?
local advertisers
want to buy web, but…
• confused / lack of knowledge
• don’t totally trust sales rep
• think Google or website is enough
• never been offered web
Mel Taylor Media 267-625-5313
www.MelTaylorMedia.com
Meltaylor2000@Gmail.com 33
34. How Smart Radio Stations Leverage 11/2/2009
Interactive Assets
client seminar benefits
• provide education to local biz
• taps consultative approach
• immediate web revenue
• sales rep training
• more effective than cold call
mel taylor media
‘web advertising 101’ for local business
success stories
& Cablevision
• $146,000 new quarterly business
• 26 new contracts
• $ 144,000 new quarterly business
• 41 new contracts
Times Shamrock Communications
• $238,000 new annual business
Mel Taylor Media 267-625-5313
www.MelTaylorMedia.com
Meltaylor2000@Gmail.com 34
35. How Smart Radio Stations Leverage 11/2/2009
Interactive Assets
Mel Taylor Media 267-625-5313
www.MelTaylorMedia.com
Meltaylor2000@Gmail.com 35
36. How Smart Radio Stations Leverage 11/2/2009
Interactive Assets
How to invite
local advertisers:
This invitation
was sent to
local print advertisers
of Philadelphia Inquirer
Mel Taylor Media 267-625-5313
www.MelTaylorMedia.com
Meltaylor2000@Gmail.com 36
37. How Smart Radio Stations Leverage 11/2/2009
Interactive Assets
WARNING
clients will buy web
from you….
or the competition
CAUTION:
Avoid using internal web-sales manager to present Web Marketing 101 seminar.
Many have tried this method, but results are always poor.
Use objective 3rd party expert to ensure a non-sales approach, & high client attendance.
Mel Taylor Media 267-625-5313
www.MelTaylorMedia.com
Meltaylor2000@Gmail.com 37
38. How Smart Radio Stations Leverage 11/2/2009
Interactive Assets
Mel Taylor Media
popular WEB SALES programs
custom programs available upon request
>> Web Revenue Boot Camp for Local Media (1 day in market, suggested agenda)
• 8a-Noon Web-sales best practices for reps
•NNoon-1p C
1 Combined lunch session: competition overview
bi d l h i titi i
• 1p-3p Web Sales for Management
• 3p-5p Programming/Marketing/Tech… revenue/ ad inventory issues
• Delivered 2 weeks later: custom report on findings & recommendations
>> Web Marketing 101 Seminar for Local Business
• In-market visit 4 wks prior to seminar, includes Web Revenue Boot Camp
• Half day of additional rep training, day before seminar
• Copy of all sales materials / templates
• Close business on the spot
• Video clips from recent event here: www.MelTaylorMedia.com
>> Online Business Model Analysis & Recommendation for Radio
• We do a ‘deep dive’ into your current digital sales efforts & your local market’s
competitive environment. Key deliverables include a comprehensive set of
recommendations & specific instructions on implementation.
radio web sales
best practices
run online as business training of traditional reps
leverage web for greater overall share target non-radio clients too
at least 1 online-only sellers client education & consultation
non-radio sites, separate url’s reps as mini-agencies
mandatory budgets w/ penalty web training for management
Mel Taylor Media 267-625-5313
www.MelTaylorMedia.com
Meltaylor2000@Gmail.com 38
39. How Smart Radio Stations Leverage 11/2/2009
Interactive Assets
smart practices
• determine revenue/profit first before content
• aggregation do what you do best, point to the rest
• reverse pub s if successful o e, co s de o e version
e e se publish success u online, consider offline e s o
• online & broadcast no longer separate
mel taylor media
recent success story
results from mid-market media company,
that applied info contained within this presentation
2008 2009 Increase
February
February $71,813
$71,813 $134,847
$134,847 88%
March $97,304 $160,756 66%
April $110,000 $164,475 49%
Mel Taylor Media 267-625-5313
www.MelTaylorMedia.com
Meltaylor2000@Gmail.com 39
40. How Smart Radio Stations Leverage 11/2/2009
Interactive Assets
radio.com $
how smart radio stations
leverage interactive assets
online revenue strategy
& business model development
UPDATED: Nov. 2, 2009
MelTaylorMedia.com
267-625-5313
Mel Taylor Media 267-625-5313
www.MelTaylorMedia.com
Meltaylor2000@Gmail.com 40