Thursday, May 28, 2015

Keep Summer Listeners Coming Back: 5 Retail Tactics For Your Station

“Summer vacation" - who doesn't think that sounds like a good idea?

Just don’t start too soon if you’re in radio - and especially if you're in Country Radio. 

Last week, Inside Radio featured this graphic from Nielsen as part of an article on Memorial Day weekend format flips. It shows the noticeably heaver 6+ May and June radio listening trends for the past four years.



I asked Nielsen’s Tony Hereau how Country compared and he shared the following.

While radio’s average 6+ AQH Persons starts a decline after May, Country’s best 25-54 months begin after May peaking in June, July, August and September (again, note the chart above is based on 6+ while the chart below is based on 25-54).  




A retailer eyeing these charts would likely think about how to convert these seasonal increases into year-round customers.

Taking a page from their playbook, here are five retail tactics and their radio equivalents your station can launch regardless of format.

Retail
Radio
Lower purchase barriers making it easy to buy
Be present on as many platforms as possible.  Be minimalistic in terms of time, effort and information you require of listeners who want to engage in your contests or sign up for your database.  
Provide superior value
Insure your Entertainment Value always exceeds your Cost of Listening (EV>CL). The EV is nearly all-encompassing: from talent to music to promotions and more. Meanwhile the CL goes beyond commercial load.
Up-selling and cross-selling
Use compelling teases and promote-aheads to drive additional occasions of listening. Be visible and high-touch so you can ask for more listening in person.
Providing “Social Proof” that demonstrates shared values and behavioral reinforcement
Create believable “peer endorsement” in social media and imaging
Finding ways to say “thank you”
Appreciation is powerful in driving repeat usage and WOM.

This fall, don't just talk about what you did on your summer vacation, brag about what you did before it.


1 comment:

Dan Cowen said...

Great stuff, Mike! Was just looking for a staff motivator. This'll do the trick!