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Radio Industry Has Little Time to React
It's at times like these when my thoughts go to the scene of a General
smiling in a foxhole with a subordinate who asks, "Sir, we're totally
surrounded by the enemy. Yet, you have this big smile on your face.
Why?" The General replies quickly, "Because now I can attack in any
direction!"
Radio industry executives are finding themselves cowering in foxholes
these days. They're embattled on multiple fronts, yet carry no strong
plan of attack for any direction. While there's plenty of buzz and a
few attempts to move where the crowd is going, there are no
outstanding success stories to report. Radio industry trades carry
very little news about internet initiatives, either locally or on a
national/regional scale.
There's not much time left. There are maybe five to six years before
local merchants, who make up 70%-80% of radio's revenue, begin to move
larger amounts of their ad budgets online.
Today local internet advertising is an extremely small percentage of
the pie. Five years ago national/international advertising on the
internet was a very small percentage of the pie. Times change for a
reason.
One of the reasons there has been a substantial boost in online
advertising is due to the vast amounts of help available to persons
who want to advertise online. Google AdWords Learning Center, Yahoo!
Search Marketing Tutorial, and Microsoft's Ad Center are examples of
why providing information on how an advertiser can advertise on your
media is a good idea. These are three industry-backed web sites,
available 24/7 for potential clients who want to learn how to spend
their ad dollars online.
Now will someone please direct me to a comparable radio industry web
site, where local merchants may learn how to benefit from radio?
As we hear about radio execs making choices that are moving this
industry online, see if you don't find multiple holes in their
approach. To date, the talk is about selling banner ads, pre-rolls/
Gateways, and sponsorships of streams. But these are all words spoken
to radio sales managers about convincing clients to keep their
advertising dollars with radio's newfound friend, the internet.
I own the domain name "RadioAdvertiser.com." Have never done anything
with it, so it sits as a redirected domain which serves up
AudioGraphics.com. I also know the person who owns
"RadioAdvertising.com." We purchased these domains in 1996/1997. A few
months ago we had a discussion that brought up this question - one
that I'm still asking today: "Why is it that no radio company has
approached either of us to purchase these names?"
I'll take this a step further: Domain names or not, why is there no
radio industry-backed web site that explains the process of radio
advertising to local advertisers? Why is there very little found on
the web that instructs local advertisers on how to use broadcast
radio?
Even Clear Channel's once highly touted "Creative Services Group" is
lost amid the sea of search engine returns. Truth be shown, it is not
present when searching for Clear Channel Creative Services Group,
except as two press releases dated November 10, 2005 and April 10,
2006. Do a search for "Creative Services Group" at ClearChannel.com
and you're served nine press releases, the last dated April 16, 2007.
Try the same search at Google and all that you get are two of those
outdated press releases.
Try Googling for "how to advertise on the radio." Take a look at the
returns. There are few that read "why advertise on the radio." There
are a few with the message "advertise on XXXX Radio." You'll even find
a listing (#12) for Google AdWords Audio, which offers its own links
showing advertisers how to use Google AdWords Audio to advertise
effectively.
What you won't find in that search, or any search of related keywords,
is anything from the radio industry that offers help to a business
owner looking for guidance on radio advertising. Excuse me. This is
outrageous in today's media climate.
As everyone in the radio industry continues their claims of turning
towards the internet for non-traditional revenue, here's a clue as to
how this is going to end up: same old, same old (as in commitment,
effort, and payoff).
There are many ways to attack the problem of falling revenue. Given
the number of fronts pushing radio down, you'd think the industry
would be smiling because it has so many areas to show a newfound
expertise in new media.
Radio industry executives need to move quickly to fill this void of
online instruction for using radio advertising.
All those new media companies have already proven it's very rewarding
to show clients how to advertise correctly.