Your radio station’s revenue Killers –
If your station is losing money or not making enough...maybe it's you??
A) Fact #1: “You suck at running a radio station or the person you put in charge does.” It’s one or the other.
Let me give you an example: I took over a radio station situated in a town of 6,000 people and the billing was $8K a month. The day we took over was August 1st. 1 year and 10 months later I handed the keys over to another manager (my owner sold at twice the investment in less than 2 years). The station was billing $50K a month and I said to the new manager: “You can sit on your butt till December and you’ll hit $48K + every month”. I didn’t think THAT’S what they would do!! Let me also say, this was a single station AM/FM combo and the purchaser was a BIG CITY radio wizard. When I left, the staff included 4 full time sales reps, 1 office manager, 2 full time on air DJ’s (1 doubled as our news director and the other as our sports/PBP) and a cadre of 3 part-time board ops. Think about that economic impact for a moment…(11 people drew a check out of that station; 7 full time employees plus me then 3 part timers) from a radio station in a town with a population of 6,000. Today there is 1 employee that splits duties as office mgr and sales (Ha! Yeah right…sales). They can’t even get back to the $8K the station was billing before I took over. What happened? I’ll tell you what happened…they suck at managing radio stations.
B) Fact #2: Sales Rep turn-over is mostly a symptom of you sucking as a manager. Think about it this way. Some people reading this may know how to fly an airplane. For those that do not, this question is for you. Would you attempt to fly a plane without any help? Of course not because death (yours) would most likely be the outcome. New sales reps that are not shown how to be successful quit (death). Sales reps that ARE successful but are not supported quit (death). Ever hear a merchant say: “I won’t advertise if he/she isn’t my sales rep”. It’s about relationships. Radio is a relationship business. Turn-over of your sales reps is killing your revenue.
I have a training program that will teach “new” reps how to build an account list and be successful in radio sales. There is very little “class-work” training. It works. It’s how you take a station that is billing $8K a month to $50K. This will also keep your veteran reps motivated because they will see the value and growth. What motivates sales people? Money and recognition; on the job success delivers both.
C) Fact #3: Stupid or zero marketing further kills your revenues. I'll show you how to generate revenue from your advertising and marketing. You must answer these two questions: why do people listen to your station? Playing music is not a reason to listen to a radio station anymore than playing ESPN is. The second question is: why do people NOT listen to your station? You have to pay taxes and you have to physically die in this journey on earth; everything else is a choice; to include what radio station I listen to or don’t listen to. Finding out “why” people choose to not listen to your station will identify how to get people to listen. Playing country music because you (the owner) like country music is a dumb reason to own a radio station; a big CD collection is a much less expensive head ache to manage.
A station I was once in charge of was running a profit at close to 60%. We sold it and the new owners changed the logo of the station; within a month after the ownership change. They wanted to re-brand it; really? The most critical issue was the logo? Are you kidding me…the most critical issue for this new owner was to not move any of the furniture! This place was hitting on ALL cylinders. He needed to keep everything in place. His #1 priority should have been to retain 100% of the staff. I suppose it’s a must that I tell you he was extremely successful at chipping away at that 60% profit number…last I knew they were losing around $20K a month.
Your marketing plan has to focus on identifying who you want listening to your station and then doing what “they” like as a group; it’s about the listener. Go back to the example above where they changed the logo. That’s not all they did, but when I found out that was the focus…I knew the 60% profits would erode gradually; and it did. The next thing they did was change the studio computer system. The focus was on image and technology, not marketing (how many radio stations do you listen to because they have a cool logo?). The sales staff quit because they had no focus on what to sell and they all saw the ownership focus was on the needs and interests of the owners not the listeners; they (sales staff) were never replaced either. Then the new owner replaced local news with national news and finally after a year of decreased revenues the owner decided it must be the format and they changed that. To him, the reason was obvious; the format was bad. I say they lost so much because they suck at managing radio stations. It is what it is!
How do YOU fix your problems?
If you suck at managing radio stations but you’re good at making a small fortune out of a big one, then it’s time you called me. I’m like a “hit man”. I’ll do the job for you. My methods are not to fire everyone; just the opposite. My job is to train people to do what they are getting paid to do. My job is to save your radio station. I’ll make it (your radio station) a proud member in your community. I’ll show you how to hire the right people and how to train them to stick around. I’ll show you how to become a master marketer and mostly, I’ll set you up to do this into perpetuity. If your goal is to build up the station to sell, I can help. If your goal is to just build the stations revenues and profits, I can help. My goal is to help you win. You define what that means.
Next step –
Call me Phil @ (913) 221-2543