Pending Business: Value | TALKERS magazine : TALKERS magazine – “The bible of talk media.”

Pending Business: Value

| January 25, 2021

By Steve Lapa
Lapcom Communications Corp
President

 

PALM BEACH GARDENS, Fla. — Value is one of the most difficult concepts for any professional seller to advance, but easily one of the most important. Presenting the value proposition is a never-ending challenge, especially for the broadcast seller. I’ve seen too many sellers get hung up on product features that are station-centric, important to management, talent, and the seller. The truth is the advertiser doesn’t see it the same way.

Consider some of these features and the real value to the advertiser:

1) Signal strength/coverage area – The reality of your 50,000-watt AM or 100,000-watt FM signal strength being a differentiator is changing in this COVID-adjusted online world. For sure station coverage belongs in the pitch kit, but positioning the benefit requires updating when the world can log into your station’s stream. And soon your connected car will present an entirely new ad sales dynamic. What’s changed in the value perception of your station’s big signal?

2) Weather/traffic – Traditional service elements were designed to build and keep audience before instant access smartphones and apps. “Depend on it” and “Traffic on the 8’s” were benchmark programming elements until smartphones and apps grabbed our eyes and ears. The perceived benefit today falls short if you’re still presenting these elements in old school speak. What’s changed in the value presentation of your traffic and weather together with WAZE, Google maps and The Weather Channel app?

3) Top-of-the-hour news – Hope I don’t hit a nerve here, but the days of presenting the benefit of getting the latest news at the top of the hour could be getting stale. News and information are available 24/7 and you may still be stuck presenting a benefit that rings faintly in the ear of the advertiser. What’s changed in the value presentation of your top-of-the-hour newscast?

4) The “value” of your audience – Is it the same sounding sales banter as two years ago? Media consumption has changed dramatically since last March. How has the value of your audience changed to meet the times?

The key takeaway: One of my marketing projects involved live reads on a large market heritage news/talk station. During the negotiation, a frustrated seller offered, “Don’t you see the value in_____?” Pause here. Who is responsible for establishing value in any transaction?

Steve Lapa is the president of Lapcom Communications Corp. based in Palm Beach Gardens, FL.  Lapcom is a media sales, marketing, and development consultancy.  Contact Steve Lapa via email at: Steve@Lapcomventures.com

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Category: Sales