By nature I’m passionate about the radio industry and quick to defend it. Two decades of labor, five market stops, hundreds of relationships, and countless positive experiences have shaped my views that way. I don’t apologize for that. It doesn’t mean the industry doesn’t have its share of flaws, but all things considered, it’s a pretty great business, one which I believe has more room for growth than ever before.
A few weeks ago I attended Radio Ink’s Forecast 2019 at the Harvard Club in New York City. From start to finish the event was jam packed with information, and featured a who’s who of industry movers and shakers. In what can only be described as a monumental upset, I was asked by Radio Ink officials to moderate a panel featuring ESPN Audio SVP Traug Keller, Cumulus and Westwood One SVP of Sports Bruce Gilbert, and Entercom Regional President Susan Larkin. I’d like to thank whoever spiked the punch to convince them to think of me. It’s appreciated.
Over the course of forty minutes we tackled a variety of subjects from sports gambling to gaming, improving diversity in sports radio management, attracting larger advertisers to sports radio, the state of ratings measurement, and changing the perception of sports radio being niche. One of the headlines which stood out most was Traug’s declaration of sports gambling becoming even bigger for the sports format than what initial projections suggested.
“This is bigger than people think,” said Keller. “The numbers coming out of New Jersey are staggering.”
If he’s right, which I do think he is, this is going to be a massive opportunity for sports media brands. The initial projections from Gambling Compliance, an independent provider of gambling industry data and research, listed sports betting as a 2 billion dollar industry. After the Supreme Court made their decision though, those projections increased to between 3.1 and 5.2 billion by the year 2023. The state of New Jersey supplied a small dose of what’s to come when during their first 17 days of legalized sports betting activity, the state raked in 16.4 million dollars.
You read that news and it instantly grabs your attention and gets your mind thinking about ways to capitalize. The challenge for brands is going to be setting boundaries so the airwaves don’t get polluted with non-stop gambling messaging. That means not allowing every Tom, Dick, and Harry who bills themselves as a gambling expert to gain time on shows, even if they’re offering dollars to do so.
It also means having to create systems to avoid having situations where four of five minutes of commercial breaks feature sports gambling commercials. GM’s are going to have to work with their sales managers to make sure pricing is set high enough so not everyone can play in the space. I’d also expect more hugs needed in the sales department when sales managers and GM’s have to deliver bad news to account executives, rejecting buys from other sports gambling groups because they’ve either sold out inventory or reached maximum capacity on what the programming team will allow on the air.
Regardless of the challenges, many in sports media circles expect an influx of cash thanks to sports gambling legalization. It’s the topic everyone has been talking about, and it was voted the #1 sports business story of the year in the Sports Business Journal. The only question is will the entire pot of gold be discovered in 2019, 2020 or later.
That got me to thinking about how the rise of sports gambling will influence future programming on radio, television and in print. We’ve already seen the NY Post form a partnership with VSiN to provide sports betting written content. The TVG Network also joined forces with VSiN. The new owner of the Los Angeles Times has said he plans to evolve the newspaper’s sports section by including coverage of eSports, and it’s safe to assume that sports betting will gain further attention too. Plus the upstart digital TV channel Cheddar has regularly produced content aimed at sports gaming and betting enthusiasts.
But what about traditional radio and TV outlets?
If you turn on SportsCenter with Scott Van Pelt, one of his most popular segments is Bad Beats. Tune into a sports radio station and you might hear an Action Update from VSiN or a sports betting expert appearing on a show to educate fans on potential moneymaking opportunities surrounding an upcoming game. Even FOX Sports Radio entered the fray this year by adding the weeknight show Straight Outta Vegas with RJ Bell to its schedule. FS1 did the same with the addition of Lock It In featuring Clay Travis, Cousin Sal, Todd Fuhrman, and Rachel Bonnetta. ESPN+ also followed suit by partnering with the Action Network on the show I’ll Take That Bet.
If you paid attention to industry news this week, you saw Darren Rovell announced his exit from ESPN to join the Action Network, where he’s expected to serve as an executive and cover the business of sports betting. Barstool Sports has gained strong social buzz this football season with the creation of their betting program Sports Betting Advisors featuring Dave Portnoy, Big Cat and Stu Feiner. Bleacher Report got involved in the space by launching a show with Chris Simms and Adam Lefkoe, and others such as The Ringer and Westwood One have created podcasts built around sports gambling content.
I think it’s fair to say that each of these brands understand what’s at stake. Groups like VSiN and the Action Network prepared well in advance by hiring good people, creating good content, and establishing relationships, even before the supreme court opened the door for states to make decisions on the future of legalized sports betting. Because they took the risk and got in early, they’re now in great position to take full advantage of it.
We’ve seen leagues like the NBA, MLB and NHL evolve their views on sports gambling, striking deals with the MGM casino for use of their data, logos and advanced statistics. DraftKings and FanDuel have opened locations in New Jersey and used their apps to generate larger revenues. Buffalo Wild Wings has even expressed interest in making sports betting available inside their bars and restaurants.
So what does it all mean?
Well, the obvious point is that the space is going to expand rapidly. Audiences will soon be treated to more of this type of content, and major advertisers, especially ones who are after the sports fan’s betting dollar, will be looking to sports media brands to help them build their customer base. You’ll likely see networks creating sports betting experts the same way they have sports analysts, and programming features will become part of shows you never would have expected them to be included in.
But is sports radio positioned to prosper from it? If you measure it from the over the air side, yes. Ratings, talent endorsements, and play by play associations are attractive to brands like StubHub, FanDuel, DraftKings, MGM and Buffalo Wild Wings. But it’s the digital space (where most economic projections expect bigger growth) where I have a few concerns.
I spent some time surfing thru the websites of a number of sports radio stations to see which local brands were developing original sports betting podcasts. I then examined the podcast charts by typing in ‘sports betting’ and ‘sports gambling’ to see which podcasts appeared in those categories. To my surprise, local sports radio underwhelmed.
What stood out most was that there weren’t many original local podcasts available on sports betting/gambling from local sports stations. National outlets did a much better job, along with groups like VSiN, Action Network, The Ringer, Barstool Sports, etc.. Among the few exceptions were The Sharp 600 by Joe Fortenbaugh of 95.7 The Game, a podcast done independently of the radio station, and KNBR’s Tom Tolbert, who’s hosting the Corndogs and Underdogs podcast.
Some of you reading this will be quick to point out that the iTunes charts can be easily manipulated. That’s true. They can. Which begs the question, why aren’t sports radio stations doing it then? Whether the system is imperfect or not, it’s where legions of sports fans turn to find podcasts, and advertisers judge whether or not you’re easily discovered there. If your content isn’t located under the category it’s built for on the first page, let alone the first three, good luck commanding larger dollars.
It left me wondering, if spending is expected to increase in the sports betting category, and major advertisers like DraftKings and FanDuel seek more of that content, especially digitally, why would they turn to a local sports radio station? They can find what they want on the national level, and thru popular sports digital brands, but local sports radio stations with their strong social followings, and 13-18 hours per day to promote content don’t deliver enough unique content or buzz on the subject matter.
If you’re inside of a sports radio station today, one of the most important conversations that should be taking place frequently between management and on-air talent should be about owning the sports betting space across multiple platforms. By the way, that doesn’t mean picking a part-time staff member and having them do a 30-minute podcast to say you’re present in the space. It means getting creative, and attacking the opportunity the same way you would a play by play partnership, or entering football season when you hire contributors for your main programs.
These are different times then before. When I programmed stations, I wasn’t a huge fan of sports betting content on the air. There were a lot of scammers looking to use the station’s airwaves to line their pockets, and although it may have been attractive to sales to add easy money for five minutes of garbage, I believed it was more important to put talent in a position to succeed, and respect the audience’s time.
But that was before legitimate people started creating content in the space, and before the supreme court granted authority to each state to decide their own fate. Fifteen years ago we looked at fantasy football content as a niche thing that wasn’t built for the mainstream, and now it’s a huge part of the American sports fan’s life. The same holds true with sports betting.
If there’s one major issue our business has it’s that we sometimes react too late. We’ve got to be thinking ahead and preparing ourselves to be a preferred destination when windfalls of cash become available, not walking in the door and promising to customize something after interest has picked up. Anyone can play the stock market afterwards, but it’s those who study trends, ask questions, and ultimately roll the dice who benefit the most.
Who’s your station’s go to expert on gambling? How are you elevating them across your shows, website, and social media channels? Are you hiring outside contributors or oddsmakers and building them up the same way you have ESPN, FOX or CBS NFL reporters? Do you have shows designed specifically for podcasting? Twitter? Instagram? Facebook? Have you asked the clients who have the most to gain in this space to share their ideas with you on how to create memorable content? What are you bringing to the table that isn’t available anywhere else?
If you solve those problems, I want you to ask yourself if you’re confident of your programming matching up with some of the other brands I mentioned earlier. If I walked into your building tomorrow as the buyer of DraftKings or FanDuel’s advertising, and I had seven figures to spend with one brand, could you convince me you had more to offer in this space than what those other groups have available?
This is what you’re going to be up against. Keep in mind, I’ve focused mostly on the audio part of this discussion. If I dove deep into each sports station’s social media video content and written pieces on the topic of sports betting I’d be terrified of what I’d find. It certainly wouldn’t measure up against the content being supplied by those other outlets. That points to an obvious opportunity for brands to explore partnerships with others who can bring things to the table that they can’t.
I consider this a critical conversation, and I’m thrilled that it’s going to be part of our agenda at the BSM Summit in Los Angeles in February. VSiN Chairman and co-founder Brian Musburger, Action Network Head of Media Chad Millman, and FanDuel President and COO Kip Levin have graciously agreed to spend time discussing the present and future of sports betting, lessons they’ve learned since entering the space, and what media brands can do to help themselves. 95.7 The Game morning man and Sharp 600 podcast host Joe Fortenbaugh will moderate the discussion.
Given what’s at stake from a monetization and interest standpoint, this is an area we can’t afford to miss the mark on. The reality right now is that the VSiN’s, Action Network’s, Barstool’s, Ringer’s, and Bleacher’s of the world know this space better and deliver better talent and content in it than local sports radio. So too do national brands like FOX, CBS and ESPN. If sports gambling is indeed the elixir that the sports format has been waiting for, then we’ve got to make sure we’re capable of matching up with the best that any other media brand can provide. If not, we’ll soon be waving goodbye to another lost opportunity, and this one could have grave consequences.
Barrett Sports Media To Launch Podcast Network
“We will start with a few new titles later this month, and add a few more in July.”
To run a successful digital content and consulting company in 2022 it’s vital to explore new ways to grow business. There are certain paths that produce a higher return on investment than others, but by being active in multiple spaces, a brand has a stronger chance of staying strong and overcoming challenges when the unexpected occurs. Case in point, the pandemic in 2020.
As much as I love programming and consulting stations to assist with growing their over the air and digital impact, I consider myself first a business owner and strategist. Some have even called me an entrepreneur, and that works too. Just don’t call me a consultant because that’s only half of what I do. I’ve spent a lot of my time building relationships, listening to content, and studying brands and markets to help folks grow their business. Included in my education has been studying website content selection, Google and social media analytics, newsletter data, the event business, and the needs of partners and how to best serve them. As the world of media continues to evolve, I consider it my responsibility to stay informed and ready to pivot whenever it’s deemed necessary. That’s how brands and individuals survive and thrive.
If you look at the world of media today compared to just a decade ago, a lot has changed. It’s no secret during that period that podcasting has enjoyed a surge. Whether you review Edison Research, Jacobs Media, Amplifi Media, Spotify or another group’s results, the story is always the same – digital audio is growing and it’s expected to continue doing so. And that isn’t just related to content. It applies to advertising too. Gordon Borrell, IAB and eMarketer all have done the research to show you where future dollars are expected to move. I still believe it’s smart, valuable and effective for advertisers to market their products on a radio station’s airwaves, but digital is a key piece of the brand buy these days, and it’s not slowing down anytime soon.
Which brings me to today’s announcement.
If you were in New York City in March for our 2022 BSM Summit, you received a program at the show. Inside of one of the pages was a small ad (same image used atop this article) which said “Coming This Summer…The BSM Podcast Network…Stay Tuned For Details.” I had a few people ask ‘when is that happening, and what shows are you planning to create?’ and I kept the answers vague because I didn’t want to box ourselves in. I’ve spent a few months talking to people about joining us to help continue producing quality written content and improve our social media. Included in that process has been talking to members of our team and others on the outside about future opportunities creating podcasts for the Barrett Sports Media brand.
After examining the pluses and minuses, and listening and talking to a number of people, I’m excited to share that we are launching the BSM Podcast Network. We will start with a few new titles later this month, and add a few more in July. Demetri Ravanos will provide oversight of content execution, and assist with production and guest booking needs for selected pods. This is why we’ve been frequently promoting Editor and Social Media jobs with the brand. It’s hard to pursue new opportunities if you don’t have the right support.
The titles that will make up our initial offerings are each different in terms of content, host and presentation. First, we have Media Noise with Demetri Ravanos, which has produced over 75 episodes over the past year and a half. That show will continue in its current form, being released each Friday. Next will be the arrival of The Sports Talkers Podcast with Stephen Strom which will debut on Thursday June 23rd, the day of the NBA Draft. After that, The Producer’s Podcast with Brady Farkas will premiere on Wednesday June 29th. Then as we move into July, two more titles will be added, starting with a new sales focused podcast Seller to Seller with Jeff Caves. The final title to be added to the rotation will be The Jason Barrett Podcast which yours truly will host. The goal is to have five weekly programs distributed through our website and across all podcasting platforms by mid to late July.
I am excited about the creation of each of these podcasts but this won’t be the last of what we do. We’re already working on additional titles for late summer or early fall to ramp up our production to ten weekly shows. Once a few ideas and discussions get flushed out, I’ll have more news to share with you. I may consider adding even more to the mix too at some point. If you have an idea that you think would resonate with media professionals and aspiring broadcasters, email me by clicking here.
One thing I want to point out, this network will focuses exclusively on various areas of the sports media industry. We’ll leave mainstream sports conversations to the rest of the media universe. That’s not a space I’m interested in pursuing. We’ve focused on a niche since arriving on the scene in 2015 and have no plans to waver from it now.
Additionally, you may have noticed that we now refer to our company as ‘Barrett Media’. That’s because we are now involved in both sports and news media. That said, we are branding this as the BSM Podcast Network because the titles and content are sports media related. Maybe there will be a day when we introduce a BNM version of this, but right now, we’ve got to make sure the first one works right before exploring new territory.
Our commitment to delivering original industry news, features and opinions in print form remains unchanged. This is simply an opportunity to grow in an area where we’ve been less active. I know education for industry folks and those interested in entering the business is important. It’s why young people all across the country absorb mountains of debt to receive a college education. As valuable as those campus experiences might be, it’s a different world once you enter the broadcasting business.
What I’d like to remind folks is that we continue to make investments in the way we cover, consult, and discuss the media industry because others invest in us. It’d be easy to stockpile funds and enjoy a few more vacations but I’m not worried about personal wealth. I’m focused on building a brand that does meaningful work by benefitting those who earn a living in the media industry or are interested in one day doing so. As part of that process I’m trying to connect our audience to partners who provide products, services or programs that can benefit them.
Since starting this brand, we’ve written more than 18,000 articles. We now cover two formats and produce more than twenty five pieces of content per day. The opportunity to play a small role in keeping media members and future broadcasters informed is rewarding but we could not pay people to edit, write, and host podcasts here if others didn’t support us. For that I’m extremely grateful to those who do business with us either as a consulting client, website advertiser, Summit partner or through a monthly or annual membership. The only way to get better is to learn from others, and if our access to information, knowledge, relationships and professional opinions helps others and their brands, then that makes what we do worthwhile.
Thanks as always for the continued support. We appreciate that you read our content each day, and hope to be able to earn some of your listenership in the future too.
5 Mistakes To Avoid When Pursuing Media Jobs
“Demetri Ravanos and I have easily done 50-60 calls, and it’s been eye opening to see how many mistakes get made during the hiring process.”
I recently appeared on a podcast, Monetize Media, to discuss the growth of Barrett Media. The conversation covered a lot of ground on business topics including finding your niche, knowing your audience and serving them the right content in the right locations, the evolution of the BSM Summit, and why consulting is a big part of our mix but can’t be the only thing we do.
Having spent nearly seven years growing this brand, I don’t claim to have all the answers. I just know what’s worked for us, and it starts with vision, hard work, consistency, and a willingness to adapt quickly. There are many areas we can be better in whether it’s social media, editing, SEO, sales, finding news, producing creative original content or adding more staff. Though there’s always work to be done and challenges to overcome, when you’re doing something you love and you’re motivated to wake up each day doing it, that to me is success.
But lately there’s one part of the job that I haven’t enjoyed – the hiring process. Fortunately in going through it, I was able to get to know Arky Shea. He’s a good guy, talented writer, and fan of the industry, and I’m thrilled to share that he’s joining us as BSM’s new night time editor. I’ll have a few other announcements to make later this month, but in the meantime, if you’re qualified to be an editor or social media manager, I’m still going through the process to add those two positions to our brand. You can learn more about both jobs by clicking here.
Working for an independent digital brand like ours is different from working for a corporation. You communicate directly with yours truly, and you work remotely on a personal computer, relying on your eyes, ears and the radio, television, and internet to find content. Because our work appears online, you have to enjoy writing, and understand and have a passion for the media industry, the brands who produce daily content, and the people who bring those brands to life. We receive a lot of interest from folks who see the words ‘sports’ and ‘news’ in our brand names and assume they’re going to cover games or political beats. They quickly discover that that’s not what we do nor are we interested in doing it.
If you follow us on social media, have visited our website or receive our newsletters, you’ve likely seen us promoting openings with the brand. I’ve even bought ads on Indeed, and been lucky enough to have a few industry folks share the posts on social. We’re in a good place and trying to make our product better, so to do that, we need more help. But over the past two months, Demetri Ravanos and I have easily done 50-60 calls, and it’s been eye opening to see how many mistakes get made during the hiring process.
Receiving applications from folks who don’t have a firm grasp of what we do is fine. That happens everywhere. Most of the time we weed those out. It’s no different than when a PD gets an application for a top 5 market hosting gig from a retail employee who’s never spoken on a microphone. The likelihood of that person being the right fit for a role without any experience of how to do the job is very slim. What’s been puzzling though is seeing how many folks reach out to express interest in opportunities, only to discover they’re not prepared, not informed or not even interested in the role they’ve applied for.
For instance, one applicant told me on a call ‘I’m not interested in your job but I knew getting you on the phone would be hard, and I figured this would help me introduce myself because I know I’m a great host, and I’d like you to put me on the radar with programmers for future jobs.’ I had another send a cover letter that was addressed to a different company and person, and a few more applied for FT work only to share that they can’t work FT, weren’t interested in the work that was described in the position, didn’t know anything about our brand but needed a gig, were looking for a confidence boost after losing a job or they didn’t have a computer and place to operate.
At first I thought this might be an exclusive issue only we were dealing with. After all, our brand and the work we do is different from what happens inside of a radio or TV station. In some cases, folks may have meant well and intended something differently than what came out. But after talking to a few programmers about some of these things during the past few weeks, I’ve been stunned to hear how many similar horror stories exist. One top programmer told me hiring now is much harder than it was just five years ago.
I was told stories of folks applying for a producer role at a station and declining an offer unless the PD added air time to the position. One person told a hiring manager they couldn’t afford not to hire them because their ratings were tanking. One PD was threatened for not hiring an interested candidate, and another received a resume intended for the competing radio station and boss. I even saw one social example last week of a guy telling a PD to call him because his brand was thin on supporting talent.
Those examples I just shared are bad ideas if you’re looking to work for someone who manages a respected brand. I realize everyone is different, and what clicks with one hiring manager may not with another, but if you have the skills to do a job, I think you’ll put yourself in a better position by avoiding these 5 mistakes below. If you’re looking for other ways to enhance your chances of landing an opportunity, I recommend you click here.
Educate Yourself Before Applying – take some time to read the job description, and make sure it aligns with your skillset and what you’re looking to do professionally before you apply. Review the company’s body of work and the people who work there. Do you think this is a place you’d enjoy being at? Does it look like a job that you’d gain personal and professional fulfillment from? Are you capable of satisfying the job requirements? Could it potentially put you on the path to greater opportunities? If most of those produce a yes, it’s likely a situation to consider.
Proofread Your Email or Cover Letter and Resume – If the first impression you give a hiring manager is that you can’t spell properly, and you address them and their brand by the wrong names, you’re telling them to expect more mistakes if they hire you. Being detail oriented is important in the media business. If this is your introduction to someone and they have a job you’re interested in, you owe it to yourself to go through your materials thoroughly before you press send. If you can have someone else put an extra set of eyes on your introduction to protect you from committing a major blunder even better.
Don’t Waste People’s Time – You’d be annoyed if a company put you through a 3-4 week process only to tell you they didn’t see you as a viable candidate right? Well, it works the other way too. If you’re not seriously interested in the job or you’re going into the process hoping to change the job description later, don’t apply. If the fit isn’t right or the financials don’t work, that’s OK. Express that. People appreciate transparency. Sometimes they may even call you back in the future when other openings become available. But if you think someone is going to help you after you wasted their time or lied to them, trust me, they won’t.
Don’t Talk Like An Expert About Things You Don’t Know – Do you know why a station’s ratings or revenue is down? Are you aware of the company’s goals and if folks on the inside are satisfied or upset? Is the hiring manager someone you know well enough to have a candid professional conversation with? If the answers are no, you’re not helping your case by talking about things you don’t have full knowledge of. You have no idea how the manager you’re talking to has been dealing with the challenges he or she is faced with so don’t pretend you do. Just because someone wrote an article about it and you read it doesn’t mean you’re informed.
Use Social Wisely – Being frustrated that you didn’t get a job is fine. Everyone goes through it. Asking your friends and followers for advice on social of how you could’ve made a better case for yourself is good. That shows you’re trying to learn from the process to be better at it next time. But taking to social to write a book report blasting the hiring manager, their brand, and/or their company over a move that didn’t benefit you just tells them they made the right move by not bringing you in. Chances are, they won’t be calling you in the future either.
Would Local Radio Benefit From Hosting An Annual Upfront?
How many times have you heard this sentence uttered at conferences or in one of the trades; radio has to do a better job of telling its story. Sounds reasonable enough right? After all, your brands and companies stand a better chance of being more consumed and invested in the more that others know about them.
But what specifically about your brand’s story matters to those listening or spending money on it? Which outlets are you supposed to share that news with to grow your listenership and advertising? And who is telling the story? Is it someone who works for your company and has a motive to advance a professional agenda, or someone who’s independent and may point out a few holes in your strategy, execution, and results?
As professionals working in the media business, we’re supposed to be experts in the field of communications. But are we? We’re good at relaying news when it makes us look good or highlights a competitor coming up short. How do we respond though when the story isn’t told the we want it to? Better yet, how many times do sports/news talk brands relay information that isn’t tied to quarterly ratings, revenue or a new contract being signed? We like to celebrate the numbers that matter to us and our teams, but we don’t spend much time thinking about if those numbers matter to the right groups – the audience and the advertisers.
Having covered the sports and news media business for the past seven years, and published nearly eighteen thousand pieces of content, you’d be stunned if you saw how many nuggets of information get sent to us from industry folks looking for publicity vs. having to chase people down for details or read things on social media or listen to or watch shows to promote relevant material. Spoiler alert, most of what we produce comes from digging. There are a handful of outlets and PR folks who are great, and five or six PD’s who do an excellent job consistently promoting news or cool things associated with their brands and people. Some talent are good too at sharing content or tips that our website may have an interest in.
Whether I give the green light to publish the material or not, I appreciate that folks look for ways to keep their brands and shows on everyone’s radar. Brand leaders and marketing directors should be battling daily in my opinion for recognition anywhere and everywhere it’s available. If nobody is talking about your brand then you have to give them a reason to.
I’m writing this column today because I just spent a day in New York City at the Disney Upfront, which was attended by a few thousand advertising professionals. Though I’d have preferred a greater focus on ESPN than what was offered, I understand that a company the size of Disney with so many rich content offerings is going to have to condense things or they’d literally need a full week of Upfronts to cover it all. They’re also trying to reach buyers and advertising professionals who have interests in more than just sports.
What stood out to me while I was in attendance was how much detail went into putting on a show to inform, entertain, and engage advertising professionals. Disney understands the value of telling its story to the right crowd, and they rolled out the heavy hitters for it. There was a strong mix of stars, executives, promotion of upcoming shows, breaking news about network deals, access to the people responsible for bringing advertising to life, and of course, free drinks. It was easy for everyone in the room to gain an understanding of the company’s culture, vision, success, and plans to capture more market share.
As I sat in my seat, I wondered ‘why doesn’t radio do this on a local level‘? I’m not talking about entertaining clients in a suite, having a business dinner for a small group of clients or inviting business owners and agency reps to the office for a rollout of forthcoming plans. I’m talking about creating an annual event that showcases the power of a cluster, the stars who are connected to the company’s various brands, unveiling new shows, promotions and deals, and using the event as a driver to attract more business.
Too often I see our industry rely on things that have worked in the past. We assume that if it worked before there’s no need to reinvent the wheel for the client. Sometimes that’s even true. Maybe the advertiser likes to keep things simple and communicate by phone, email or in-person lunch meetings. Maybe a creative powerpoint presentation is all you need to get them to say yes. If it’s working and you feel that’s the best way forward to close business, continue with that approach. There’s more than one way to reach the finish line.
But I believe that most people like being exposed to fresh ideas, and given a peak behind the curtain. The word ‘new’ excites people. Why do you think Apple introduces a new iPhone each year or two. We lose sight sometimes of how important our brands and people are to those not inside the walls of our offices. We forget that whether a client spends ten thousand or ten million dollars per year with our company, they still like to be entertained. When you allow business people to feel the excitement associated with your brand’s upcoming events, see the presentations on a screen, and hear from and interact with the stars involved in it, you make them feel more special. I think you stand a better chance of closing deals and building stronger relationships that way.
Given that many local clusters have relationships with hotels, theaters, teams, restaurants, etc. there’s no reason you can’t find a central location, and put together an advertiser appreciation day that makes partners feel valued. You don’t have to rent out Pier 36 like Disney or secure the field at a baseball stadium to make a strong impression. We show listeners they’re valued regularly by giving away tickets, cash, fan appreciation parties, etc. and guess what, it works! Yes there are expenses involved putting on events, and no manager wants to hear about spending money without feeling confident they’ll generate a return on investment. That said, taking calculated risks is essential to growing a business. Every day that goes by where you operate with a ‘relying on the past’ mindset, and refuse to invest in growth opportunities, is one that leaves open the door for others to make sure your future is less promising.
There are likely a few examples of groups doing a smaller scaled version of what I’m suggesting. If you’re doing this already, I’d love to hear about it. Hit me up through email at JBarrett@sportsradiopd.com. By and large though, I don’t see a lot of must-see, must-discuss events like this created that lead to a surplus of press, increased relationships, and most importantly, increased sales. Yet it can be done. Judging from some of the feedback I received yesterday talking to people in the room, it makes an impression, and it matters.
I don’t claim to know how many ad agency executives and buyers returned to the office from the Disney Upfront and reached out to sign new advertising deals with the company. What I am confident in is that Disney wouldn’t invest resources in creating this event nor would other national groups like NBC, FOX, CBS, WarnerMedia, etc. if they didn’t feel it was beneficial to their business. Rather than relying on ratings and revenue stories that serve our own interests, maybe we’d help ourselves more by allowing our partners and potential clients to experience what makes our brands special. It works with our listeners, and can work with advertisers too.