Potential target markets are making the shift toward digital media, which includes younger demographics who favor digital and online media over traditional media consumption. In radio, we are seeing audiences grow less receptive to AM and FM messaging, simply because they aren’t on these stations. The use of Spotify, Apple Music, and other online streaming services continues to rise and with it comes ignorance to radio.
As a result, radio companies are having to satisfy various demographics by offering traditional advertising as well as utilizing digital settings for ad space. However, growth in digital moves far beyond simple display and search ads. Radio companies must find the right formula that includes traditional advertising services, as well as extensive digital solutions for their demanding clients.
A Message for Radio Broadcast Companies from Vendasta CRO George Leith
Transitioning sales approaches and expanding product lines to include digital solutions is difficult without guidance. Radio broadcasters must identify efficient ways to train, learn, and shift their focus to digital with traditional-savvy sales reps.
By partnering with digital providers, broadcast companies can integrate new solutions into their packages and borrow expertise to navigate the complex digital landscape. Vendasta offers support to radio companies looking to add more digital solutions to their advertising offerings. The platform gives radio companies access to a variety of digital products and services that can be added to existing advertising packages, bundles, or traditional services.
With new data from Borrell Associates1 projecting that revenue from local digital marketing services will outpace local advertising revenue by 2.5x by the year 2022, broadcast companies must diversify their offerings to combat slow revenue growth.
Vendasta’s white-label platform provides the digital services and MarTech solutions broadcast companies need to succeed when expanding into new digital territory and growing their bottom line.
Borrell Associates data on SMB expenditures projects significant investment in local marketing services through 2022
How It Works
Amy Gill Introduces Vendasta’s Marketplace
Radio companies can pick and choose digital products and services to add to existing advertising packages or create new bundles with the Vendasta Marketplace. And since radio sales consultants are more likely familiar with selling radio spots than digital offerings, sales training and collateral are also available.
Marketplace is only the tip of the iceberg. With Vendasta’s Snapshot Report, sales reps are able to access an automated assessment of the digital standing of local businesses and then pair those businesses with digital solutions based off of their unique needs. Selling with this strategy increases client retention by 30%.
Companies can utilize Vendasta’s skilled partner development teams to assist with educating sales reps, allowing them to fully understand the digital products and services they begin to offer local clients. Our teams have conducted sales training around the world for radio companies, allowing them to fully comprehend digital solutions and to start maximizing client ad spend.
The New World
With access to a comprehensive sales and marketing platform and Vendasta’s training teams, you’ll have a true partner as you go to market quickly and add new recurring revenue streams. On average, Vendasta partners grow their digital revenue 3.5x in their first year alone.
At the end of the day, Vendasta’s white-label platform empowers you to provide these marketing solutions to local businesses under your brand. Let’s work together so you can acquire more local business clients, retain clients longer, and grow your recurring revenue with our AI-powered platform.
Testimonial from a Current Traditional Media Partner
“It’s often a matter of getting that meeting, getting in front of that customer who might be skeptical. Using Vendasta’s Snapshot Report and campaigns, we’ve been able to reach a segment of businesses that we haven’t talked to about digital solutions, or we have in the past and the trail went cold. Since implementing Vendasta’s platform, we’ve seen over a 1,500% increase in the number of accounts that we’ve been able to contact about digital solutions.Kelly Geary
Key Resources for Radio Companies
Here’s how Comporium Media Services grew their digital revenue by 82% in 1 year with Vendasta’s Snapshot Report & Marketing Automation solutions. Learn how the Snapshot Report gave Comporium’s sales reps the edge they needed in the selling process.
Vendasta’s George Leith talks innovation and adaptation with sales innovator David Little of Comporium, a traditional media company. The pair discusses Comporium’s growth and transition into a trusted local marketing expert in the industry.
Find out why your clients churn along with key strategies for retention that broadcast companies can put to use today. Learn about the importance of needs-based selling, upselling timing, client engagement, and the benefits of product diversity.
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