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Here are links to all five parts of last week's RAIN
series, "Internet radio's next frontier: Real, significant
ad schedules!"
Monday:
Millions of listeners, but no advertisers
Tuesday:
Why Internet radio isn't selling ad schedules
Wednesday:
How big is the medium? (Audience size estimates)
Thursday:
The idea: One advertiser buys ENTIRE MEDIUM!
Friday:
Proposed game plan
Please
continue to send us feedback on the idea, as your input
on the initiative (including a clever and catchy name) will
be instrumental to its success. We're continuing to work the
phones on this and will report to you in a couple of days
on our progress...
Want to discuss this project in more detail? Write
feedback@kurthanson.com.
Thanks!
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BY
KURT HANSON AND PAUL MALONEY
As we begin to hammer our "one advertiser / entire medium"
initiative into shape, we
thought now would be a good time to make a list of potential "ideal"
clients for the campaign. (For reference, you may want to use the
links in the khaki box above to access all five parts of last week's
special series on jump-starting ad sales in the Internet radio industry.)
Last week, we proposed several criteria
with which to focus our targeting of what we would consider the
"ideal" client for such extraordinary venture. While there
certainly will be other issues that hopefully you can suggest, here
are five points we should initially consider:
(1) A savvy advertiser
In the history of media and advertising, the idea of one
advertiser purchasing an ad schedule simultaneously
across an entire medium is
unprecedented. No one has ever placed ads in every magazine and
newspaper, or every radio station, or on every television program
in American.
Such a buy would be groundbreaking, and a savvy advertiser
would understand that the event of such a buy will bring awareness
even beyond the actual spot impressions.
That's why we think our project requires an advertiser that
doesn't shy away from the unorthodox, outside-the-box marketing
strategy.
(2) "Mainstream" or "fringe"?
You may remember from last week that Vytas Safroncikas, of
BornAgainRadio.com,
made an excellent suggestion when he advised "we target
advertisers with some care. Our choice can help create
a general perception that (1) we have a broad,
desirable, mainstream audience with varying tastes or
(2) that we cater to the 'fringe.'"
His point, we believe, is this: Our industry is trying to
establish a foothold with the idea
of eventually competing with other advertising media (television,
print, etc.). We need to show that Internet radio is at least as
effective a means of reaching the same
spending and consuming public as the more established
media.
A campaign featuring a reputable, recognized, "mainstream"
advertiser will show other potential buyers the truth in
this.
Note that "mainstream" does not mean "lowest
common denominator" or that the campaign is not "targeted."
We can be both upscale and still mainstream (more on this below).
In addition, keep in mind the wide range of audiences across
the Internet radio medium. There are webcasters featuring almost
countless varieties of music and talk, and thus a wide
range of listener demographics to consider (age, sex,
location, ethnicity, income, etc.). Such a wide-spanning campaign
would likely be most effective for a product or service that appeals
to a significant range of listeners.
(3) Current radio advertiser...
or someone new?
On one hand, an established major national and network radio
buyer is already "sold" on the
importance of marketing and the power of radio to deliver
the advertising message. Established radio advertisers may be more
likely to have the financial means
to
try something like this. Moreover, there's the chance that webcasters
(especially those with "past lives" on the broadcast side)
taking part in our venture might have significant
and strong relationships with buyers or potential clients.
On the other hand, companies that purchase national and network
advertising are often large, and have rigid
procedures and well-established set of expectations for
ad spending that would not allow the flexibility to try something
so unorthodox as our plan. By the same token, a company for which
radio advertising is new ground may be more open to starting a relationship
with the industry on a "clean slate," and building procedures
and expectations incrementally.
We'd be very interested in your input on this question. Which
way should we go?
(4) How upscale?
We've
know that our medium reaches an audience desirable to advertisers.
As we'll show potential advertisers, Internet radio is largely an
"at-work" phenomenon
at this point. As such, the majority of listeners are gainfully
employed (with disposable income), work in professions that provide
them with their own PCs, usually, with high-speed Internet access,
and often exhibit the cultural lean that makes them seek out atypical
varieties of music and other programming.
So
we have "quality," but we need "volume"
too. We've decided that we want to show the industry that Internet
radio reaches the same mainstream audiences that print, television,
broadcast radio, outdoor, and other Internet applications reach.
And again, keep in mind that the ideal buy will span the range of
webcast programming, reaching all sorts of listeners. These are
arguments for not going too
upscale.
In terms of a potential advertiser, as Kurt suggested, we're
looking for a place on a continuum from "GM to BMW to Rolls-Royce"...
but probably not too far on the "Rolls-Royce" end of that
continuum.
(4) Driving consumers to a website
Another benefit of Internet radio advertising that we plan
to tout is the fact it allows (and can encourage) instant
response by the
listener, in the form of clicking on a link to visit the advertiser's
website.
Internet radio has a unique advantage over almost all other
media in that (A) the listener can be persuaded with a 30-second
piece of audio, yet (B) virtually 100% of the listeners are, at
that very moment, online and with a browser window open!
So it seems to logically follow that an advertiser interested
in driving traffic to its web site would be an ideal
target for our pitch. While companies like Nabisco and Anheuser-Busch
probably aren't
so reliant on their site traffic, a company like, say, Orbitz,
absolutely depends on it. That's why their advertising is already
so prevalent on the Internet. Similarly, the Las Vegas Convention
& Visitors Authority seems to put a lot of emphasis on driving
traffic to their site, VegasFreedom.com.
Firms like that seem like logical prospects.
And a company like BMW which has a major website-based promotion
as a key part of their marketing strategy (in their case, BMW Films)
would also be a likely prospect.
We need your input!
We're brainstorming these ideas, and hope to have a plan
of attack within the next few days. As always, input from RAIN
Readers is invaluable. Please share your thoughts with us via the
feedback form on this page, or send us an e-mail at feedback@kurthanson.com.
For ideas on possible advertisers, you might want to consult
AdAge's 2003 Leading National
Advertiser's Report (here),
or their "Top 200 Megabrands" (first half 2002) (here).
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