By Walter Sabo
NEW YORK — A vital revenue and programming trend to understand is “hyperlocal” marketing. It is easy to assume that live, local radio is hyperlocal but in marketing terms it is not. Hyperlocal to a brand marketer is content, technology and commerce that is one step in front of the target customer. Hyperlocal marketing influences the buying decision at the moment of decision and purchase.
For example, if your station offers an app with hyper-local commerce capabilities, a listener carrying that app could pass by a Dunkin’ Donuts, and through GPS, the app could signal the listener that they can walk into DD and receive a free donut. That’s hyper-local marketing at its simplest.
The levels of usage are profound. Advertisers can now separate customer leads from page views of ads on your website. According to Tech Crunch, Yelp is announcing a new feature intended to highlight and quantify the value that the listing and review site provides for small businesses. The feature separates customer leads from page views — those leads can include things like bookmarking a Yelp business listing, mapping directions to the business, placing a phone call from the Yelp app, or purchasing a Yelp deal.
Your show could electrify the city with hyper local interactivity resulting in fresh revenue. Nothing drives customers to a retail business like a radio star discussing the business as part of their show. Product placement. The challenge has been selling the placement and making a seamless on-air integration.
In the pipeline is voice recognition software that will identify the name of a business every time it is said by an announcer, automatically invoice the business for each mention and send a link to your listeners who have downloaded your app. The links would contain instant discounts — or whatever information you would like them to have about your advertiser.
Everyday top marketers receive the latest information in hyperlocal marketing from STREET FIGHT. It’s free. The editor-in-chief and co-founder is Laura Rich who spent many years covering radio for top trades and was a reporter for The New York Times. STREET FIGHT a good read backed by solid reporting. Here’s how they describe themselves:
What is Street Fight? Click here to subscribe: http://streetfightmag.com/
Street Fight is a media, events and research company focused on the business of hyperlocal content, commerce and technology. The Street Fight website publishes news, commentary, case studies, and how-to articles to help the hyperlocal ecosystem achieve sustainable business models.
Even though the word “ecosystem” and “marketing” in the same paragraph makes us nervous, it’s a terrific publication.
Walter Sabo is chairman of Sabo Media, a consultation firm that provides the latest on future trends to its clients. He can be emailed at Walter@sabomedia.com. Meet Walter Sabo at Talkers New York 2013 on Thursday, June 6.