Today’s webinar… Data Drives Revenue…. …begins soon Upcoming Webinars for your calendar: Sales Webinars: Work From Home (WFH) Strategies To Maximize Productivity (Free for RAB members) April 8 th at 11 a.m. CST Radio Listeners: Behavior During the Coronavirus Crisis (Free for RAB members) April 15 th at 11 a.m. Defining Audience Engagement in Crisis & Revenue Building Strategies May 12 th at 10 a.m. and May 14 th at 3 p.m. All webinars are Central Time. Details on RAB.com under the Training link
Call Kim Johnson for training Lolly says: “Why support… Haven’t you called yet? You heard him say FREE RMP On-Line certification classes right?” Discounted… Radio Marketing Professional (RMP) Certified Radio Marketing Consultant (CRMC) Certified Digital Marketing Consultant (CDMC) Certified Digital Marketing Professional Copywriter Certified Radio Sales Manager (CRSM) SPECIAL OFFER: FREE Radio Marketing Professional (RMP) Course if registered and completed by 4/17/20 kjohnson@rab.com Gus Kim Lolly 972-753-6759
Things You Should Know Ø On-Demand link will be available – Check your email – Might be in your ‘junk mail’ Ø Lines are muted – Q & A – Type your message Ø Problems? RAB Member Response 800-232-3131
Data Drives Revenue – How to Use Data in Difficult Times
What Does Data Changes Conversations Data Do? Data is a Door Opener: It provides a valid business reason to reach out to an advertiser or prospect. Reach out with confidence and get called back. Data is Comforting: Accepted metrics provide a universal language for success. Benchmarking and aggregated insights provide the safety net of proven approaches based on category and/or region. Data is Actionable: Build a plan based on empirical results and what the audience is telling us. Know that insights driven by data will drive more response and advertiser revenue. Data Drives Revenue: Prove and improve campaign performance on a consistent basis. Knowing what works creates the confidence advertisers need to start campaigns and stay on-air long term.
Data at Scale Insights And Opportunities In Difficult Times
Industry Insights Aggregated Data - Industry Insights aggregate data from connected advertisers to show reliable benchmarks for performance across various categories. - Instill immediate confidence in advertisers and prospects that their peers are advertising successfully. - Show advertisers their performance relative to their industry and market peers.
Granular Category Insights Aggregated Data - Show aggregated performance insights from your prospects ’ industry and market peers, allowing them to start with a pre-optimized campaign. - Identify opportunities for optimization by finding the top dayparts, day of week, ad durations, and more on a category and market basis. - At a time when every dollar is precious, show advertisers that you have the tools and business intelligence to maximize their success.
The COVID-19 Weekly Trend Data Tool highlights industries with actionable COVID-19 changes in website traffic from before and after the start of mass closures and quarantines. Insights VIEW TRENDS OVERALL FILTER - By Regions - Weekly Web Trends Overall - Select Weeks to Compare - Weekly Web Trends by Industry - By Categories - Weekly Web Trends by Region/DMA
COVID-19 What does it show? Insights Opportunities to Retain , Win-Back , and close New Business by identifying categories and businesses that will truly benefit from being on-air during these unprecedented times.
COVID-19 How does it help? Trend data provides a valid business reason to reach out to active Insights advertisers for RETENTION and to inactive advertisers to WIN BACK their business. Reps can contact clients and prospects with confidence and positivity, knowing that both the advertiser and audience will benefit from them being on-air. The buttons above generate prospect lists in a rep’s dashboard for retention and outreach.
Individual Attribution Performance & Optimization
“Radio doesn’t have an effectiveness The problem, it has an attribution problem” Problem - David Field (CEO – Entercom) – 2018 Radio Show - Radio Works – The medium just struggles to provide the same level of accountability that digital has trained advertisers to expect. - If an advertiser is buying from 7 sources, and 6 of them provide reporting, who gets cancelled when a CFO turns to a CMO or Marketing Director and mandates a 15% cut? - Accountability changes that discussion and allows Radio to take the credit it deserves, while also providing a path to continued long-term success for the advertiser. - We need to shed the stigma that “ Digital comes with a report, Broadcast comes with an invoice ”. RADIO WORKS – AND YOU CAN PROVE IT
Attribution data provides actionable The insights to consistently prove and improve Solution campaign performance - Have an answer when an advertiser says “ I am not sure if this is working ” . - Replace “ I think ” and “ I feel ” with “ I KNOW ”. - Close New Business, Extend Engagements, Cut Attrition, and Win-Back Cancelled Advertisers. - Advertisers who see data*: - Cancel 50% Less Often - 65% Spend More Year-Over-Year - They spend 15% - 25% More What is the source of these numbers? * These are results based on 10,000+ advertisers connected to the AnalyticOwl platform. DATA DRIVES REVENUE
- In lay terms, Attribution simply means assigning a What is connection between 2 events. For example: You aired ads on radio and saw more sales, appointments, web Attribution? traffic, etc. - Digital has trained advertisers to expect this type of data. It is the primary competitive advantage digital has held over Radio for years, and is a key component in the shift in spend towards digital. - Web data is typically the source for accountability, and it does Radio no favors, because it picks up the response path at the digital level, not the actual point of motivation. - This has allowed digital sources to pull money away from Radio, claiming full credit for the response radio drives (because Radio didn ’ t have a voice in the conversation). - No More! There are some clear and useful metrics to show attribution for Radio.
How Does it Attribution Methods Work? - Web Lift is the most prevalent: As spots aired there were immediate spikes in web traffic as people responded. - The approach is predicated on how an audience responds to an ad: Remember a key phrase, business name, or website, then search it (or enter website directly). - Land on the website, where hopefully they will then call, fill out a form, transact, etc. - General trends and traffic patterns show overall impact, while granular data-views provide insights that can be used to test and optimize What is Web Lift? schedule and creative approaches. Web lift looks at increases in website traffic in close time-proximity to the airing of ad spots. - Additional options, like foot traffic data, are Google Analytics web tracking data is compared emerging for situations/advertisers where web to the as-run spot times to look for corresponding spikes in website activity. lift doesn ’ t tell the full story.
Focus on the Audience Change the Focus - Turn every ad into a giant focus group, with a sample size of the entire listening audience. - They vote with their attention. - By doing so, they tell us what they what they want to hear and when they want to hear it. - Test creative and schedule approaches to learn and optimize based on what WORKS. - Advertisers care about business opportunities and revenue, because revenue is real (and what they are truly after). - Results over Reach/Exposure! - Data-driven insights help not just with Radio, but will all of their marketing efforts.
Be an Advisor, not a “Seller” Change the Conversation - Data changes the fundamental conversation between advertiser/agency and media rep. - A/B Testing of creative and schedule provides a valid ongoing business reason to interact and build a relationship. - Insulates reps from conversations like “Radio doesn’t work for me” or “These stations aren’t right for me”. - Data shows what works best and provides a path for success. - There is always something positive in every data set. Key Terms A/B Testing : Try multiple approaches (A and B) and - It is the difference between calling and asking “How are see which one(s) drive the most audience response. things going?” and instead calling to say “Here’s what’s Do more of what works best and learn, over time, working best and how we can do even better next what motivates the audience to do what we want month”. them to do.
Protect and Drive Revenue Data Drives Attribution data drives revenue in 4 key ways: Revenue - Close New Business: It is a differentiator between you and competitors who have no accountability or ability to optimize - Reduce Attrition: Protect the revenue you have by proving performance and providing ongoing opportunities to improve every month, quarter, and year. - Increase Share and Spend: Highlight data-driven opportunities to tweak creative and schedule to lean into what drives the most response. - Win-Back: Inform cancelled advertisers what they are missing by going back in time and show response to campaigns that have ended. LET ’ S LOOK AT SOME EXAMPLES
Prove Performance
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