As a terrestrial radio station, you’re competing with the digital world to create integrated promotions that excite listeners, grow your fan base, and ultimately boost tune-ins. But nothing comes free, and your brands revenue generation trumps any other station priorities. There’s a reason contests and digital radio promotions are the lifeblood of revenue; they increase your social engagement and reach, lead to more terrestrial and digital tune-ins, and of course make you money.
But instead of going for the quick sell, radio brands can make a lot more money by leveraging the data available and use it to upsell existing promotions. This strengthens relationships with radio advertisers by creating more value and incentives to come back and work with you in the future.
Here are a few techniques to upsell advertisers without feeling like a pushy salesman.
The Double Opt-In (selling the lead)
This method is traditionally seen in email marketing but can work perfectly your radio promotions. During the contest sign-up phase, radio brands can ask registrants to opt-in to future news/updates/promotions related to the given product/service being promoted. Those who submit their forms will be stored in a list with their name and email address.
You now have a highly targeted list of individuals who both have entered the contest (so they already fit the demographic) and have a potential intent to buy. In other words you have a list of qualified, permission-based leads, which sell for big bucks.
For example, you can run an “Ugly Kitchen” contest with a local renovator or supply store with a double opt-in that says “Yes! I would like to receive 15% off toward new kitchen cupboards.” Since your entrants are already entering a contest for a new kitchen, the chances they’ll want the discount are very high. When the promotion has ended, you can sell this list at an additional charge per lead or increase the value of the original package.
Demographic Data (selling the target)
Whether they know it or not, advertisers are looking for something more than just a list – they need deeper information than a name and email. Age, gender, location, and income are crucial data points you can use to upsell advertisers with a defined target market.
If your advertiser doesn’t know who their target market is, you have an even bigger opportunity for your station to act as an agency by first running a sponsored promotion and then upselling them a demographic report showing them who to target in their internal marketing strategy.
Once defined, advertisers will appreciate how a precise target audience is saving them on costs and providing higher engagement and conversion rates for their brand, thanks to your data.
Facebook Psychographics (selling interests)
With the help of social analytics tools, radio brands can dig deep into the psychographics of their community. A Facebook page’s audience can be segmented by interests, more specifically by brands, TV-shows, music, sports, restaurants etc. that they’ve “liked” on Facebook. This adds additional revenue possibilities for stations by providing advertisers with laser-focused data on their fans interests or the interests of contest participants.
This data can be used to teach advertisers what motivates their target listeners to share, like, and most importantly, shop. Advertisers can use psychographic insights to understand if listeners are fans of a competitor product or are on the fringe of buying products in their market, thus spurring more inventive promotions and incentives to advertise.
In addition, interests can also be segmented by devices used to access Facebook, so advertisers know on which platforms to focus their ad dollars.
If you’re a savvy salesman, you will leverage all three of these upsells for the same promotion. Data has become the most reliable marketing tool for any company, and most are willing to pay top dollar if it’s offered and provides real business value. By creating integrated promotions across multiple platforms that are customized to the needs of advertisers, you can increase your digital radio ROI, and brands won’t have any problem competing with digital agencies. Instead they will be seen as a first choice ad spend with the best of both the digital and traditional media worlds to offer.