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News From Audio Graphics:
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Radio Needs to Learn A&M Faster Than Advertisers |
It's a strange world we live in. Radio industry moves seem to be caught in a dichotomy: chants for New Media revenue are not relevant if discussions of New Media Analytics and Metrics don't occur.
RAB 2008 was an eye-opening experience for most attendees. The number of sessions dealing with online options was higher than ever. The content of these sessions was more in-line with realty, which is a departure from sessioins at past gatherings. But, as pointed to here in "It's a Moment of Truth for Radio Industry," it appears that radio industry executives may be running into another ill-fated LMIV ideology where they think "if we build it, ad dollars will come." They won't, without reason or accountability.
There's a short article at CNet News titled "Report: Internet ad spending up 25 percent in 2007." To think of this increased ad spending as being brought on only by advertising impressions being available is extremely short-sighted. It's not the ability to advertise online that's pushing ad spending. It's the ancillary elements gained from advertising online: the numbers, the formulas, the evidence.
Internet advertising's gain is generated by more media buyers seeing how they can trace ad expenditures through exposure to the cash register. It's a really simple concept that's very hard to grasp if you don't know what a "report" looks like, or understand how an advertiser can easily "test and improve" an ad's response in mid-run.
Let's repeat a phrase that came from the Audio Graphics "Moment of Truth" article: The data that any internet radio venture generates is a lethal weapon when fighting for internet advertising dollars; that is to say not just the data itself, but the multitude of ways that this data can be split up, collated, and reassembled to improve response (and future campaigns).
It's a concept that needs thought and discussion within radio sales departments because it's already on the agenda of local competitors. View this session at the Newspaper Association of America's conference this week.
As the radio industry moves itself online, let's not be too quick to high-five each other. For those in radio still selling demographics at CPP, you could get hurt landing in the office of a media buyer speaking ROI.
It's a strange world we live in, just this side of the Tower of Babble.
To register, click "Learn Basic Internet Analytics and Metrics." Limited Seating
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