With radio, you’re in the business of selling ads that’ll drive leads and sales to your clients businesses. You know radio, your clients know radio, and most importantly—radio works. There’s just one problem.
The (Kinda) Bad News.
We might not want to admit it, but the reality is that radio advertising sales have stagnated. In fact, radio is only set to grow 0.7% (to $18.4B) between now and 2023. For many radio businesses, those narrow margins will not be enough to sustain.
This is the result of multi-channel marketing. Or, more specifically, digital marketing and advertising. Gorden Borrell says it best:
“Virtually all radio buyers are buying digital, yet 75% of the average station’s customers aren’t buying digital from the station”
Your clients want and need digital, and if you can’t help them meet those needs, they’re going to go to a marketing agency. Worse yet, they might decide to take a season off of radio—and you might not ever see them again.
The (VERY) Good News!
Many radio stations are in the process of adopting digital solutions (or already have). This is allowing them to prevent revenue loss out the back door to marketing agencies and media companies while also leading to stronger client relationships.
But don’t listen to me, here’s the data:
- Digital ad spend in the US is projected to grow to $161B by 2023.
- Many industries (such as auto dealers) are now mandated to spend 50%+ of ad budget on digital channels.
- Selling a client a single advertising solution proves a retention rate of 30% over 2 years. Selling that same client 4 solutions proves a retention rate of 80% over the same timespan.
- Your audience is online. According to the global web index, digital consumers are now spending 6 ¾ hours a day online, with 51% of that time spent via mobile device, and 2.2 of those hours being spent on social media alone.
Vendasta for Radio
You get it, there’s opportunity in digital. However, digital is likely outside of your core competencies as a radio brand. But with Vendasta, that’s no longer the case.
Vendasta enables radio companies to bolt digital solutions onto existing radio offerings and become a one-stop shop for their advertising clients. Vendasta also enables radio stations to outsource digital fulfilment work to a team of experts, so you can scale your digital growth with ease. Oh, and most importantly, all of these digital solutions and the fulfilment work to follow are designed to be sold under your brand.
That’s why you may not have heard of us. But you likely know some of our partners, such as: iHeart Radio and Salem Media Group.
Here’s how it works:
- You pay a subscription fee (free, basic, pro, and enterprise tiers) and get unlimited access to a powerful CRM and project management software, a client facing dashboard where you can showcase proof-of-performance, and the complete marketplace of Vendasta solutions (100+) that you can leverage to start selling today.
- Concerns on creating demand for digital? Our platform uncovers current clients and new prospects that need digital solutions, plus the data to prove it.
- Concerns on sales training? Our platform has baked in sales education tools and we also provide in-market training for our enterprise partners.
- Concerns on work fulfilment? That’s where our white-label marketing services team can step in and complete work on your behalf.
- Recurring digital revenue, at scale.
Digital Solutions You Can Sell With Ease
This is the bread and butter for most radio companies because it’s the first thing that your local clients look for in digital. Offering digital advertising technology and services can be a great way to start the digital conversation with your clients.
As you know, most of radio advertising manifests itself in organic search spillover. One of the best tactics to compliment radio efforts is to give your clients the gift of search optimization, so that interested customers can find them with ease.
The alternative? Your clients lose a prospect to a competitor because they can’t be found on Google.
The next part of the SEO puzzle is ensuring that your clients have beautiful, conversion optimized websites. Without this, they stand to lose clients that make it to their websites, but aren’t happy with what they’ve found.
These are just a few of the solutions that are accelerating radio growth today. Learn more about growing with Vendasta, we’d love to give you a free consultation!