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No Static At All: WAY-FM in the 21st Century

No Static At All: WAY-FM in the 21st Century
Local media's distribution advantage is weakening...
Radio will no longer simply own the car and the office... 
Radio brands are going to have to WIN a battle of relevance in a sea of new competitors. 
We will close the “accountability gap” between traditional and new media and provide proof that our advertising campaigns move product and services.
We will have to entertain and engage in new ways that retain and enhance the affinity of our core audiences no matter how, where, and when they are listening.

The clock is ticking...
Blip
Pandora
Grooveshark
Mog
Last.FM
Spotify
lala
"If you think of yourself as being in the business of sending radio waves through the sky to remote receivers, forget it.  It's all over but the shouting because that's not your business.  You think it's your business, but it's not.  It's just how you USED to distribute your product."
"I personally believe that those who will survive in the existing media are those which
become multi-platform and become the news, entertainment and cultural hubs for their
communities.  A lot of local media companies (and third parties yet to be conveived) are
all going to be fighting for that same territory; to be the central repository of everything
in their communities."
"If you can get past that and understand that not only are you not married to radio waves anymore, but you might not necessarily even be married to an all-audio platform anymore, then you can start imagining how you can find your place in the future."
"If you win that race, good for you, you're well-positioned.  The bad news is
you've got to be prepared to do more things than morning drive." 
How else might WAY-FM Compete?
If WAY-FM existed entirely, or at least, mostly online, 
how might we respond to the needs of Business Impact Partners?
A new IAB and Bain & Company study suggests the shape of media companies to come.
If, that is, we were to follow the desires and needs of advertisers and marketers.
While the study is directed at (so-called) "online publishers," I would argue it applies to ALL media-driven marketing to come.
Radio's New Online Marketing Model: 6 Steps
1. Create segmented offerings to meet the separate needs of advertisers who are focused on building brands and those who are looking for direct response. 
2. Make brand-focused marketers a priority by building a sales force of category experts who respond directly to those marketers’ specific needs. 
3. Develop a full range of solutions with more engaging options and formats, including social networks, video and other rich media. 
4. Offer deeper service and support customized to vertical industries, to help advertisers plan, create and measure the brand impact of online ads. 
5. Optimize the ways that ad inventories are sold, with a range of approaches from full-service to self-service to partnership with ad networks and resellers. 
6. Enhance organizational effectiveness by setting the right priorities, clarifying internal roles and accountability and investing in sales staff skills and incentives.  
GM, Ford and Chrysler are already bringing wi-fi to the automobile.
The choice for what to listen to in your car will soon be infinite.
More options than you could listen to in your lifetime.
How will WAY-FM rise to the top of that list?
The report continues:

“Ultimately, marketers (i.e. BIPs) are looking for media companies (us) to offer a true triple-play service model from direct response to awareness to high impact brand engagement.  This model is the key to staving off continued price erosion of online inventory.”
This is a structural change of considerable proportions.
"Media companies (radio) must orient around the needs of its clients (BIPs) and the interests of its audiences (listeners, readers, content consumers), not simply around its channel(s) of distribution."
- Mark Ramsey
Who's next?
That's never been the case before.
...could quite possibly not include "FM" at all.  At the very least, FM will likely move from being the hub to a spoke on the wheel.  
To help meet these needs, WAY-FM will need to become more aggressive in the hiring of more young, hungry and adept content creators/marketers.
Facebook and Twitter allow us to stay connected to listeners/fans even when their busy lives take them away from the radio.
Last year, we went a step further with Traffic Tweets.  No longer do listeners even need to tune in to get this info.  This mentality, putting their needs before our own ends, will increasingly be necessary to remain relevant and competitive.
Non-traditional event planning and blogging are working hand-in-hand to raise awareness of WAY-FM among Nashvillians who've yet to discover us.  
Why is any of this even important?  Because without new and creative revenue streams above and beyond selling on-air ads, carrying on WAY-FM's mission will be increasingly difficult.

Created by Jeff Brown

This presentation attempts to make a case for the paradigm shift the broadcast industry, and particularly WAY-FM Media Group, Inc., must face if we are to survive.

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