DECEMBER 8, 2022

TAKE ACTION NOW!

AMERICAN MUSIC FAIRNESS ACT THREATENS RADIO

The House of Representatives Judiciary Committee is marking up legislation this week that could impact local radio stations. 


Record labels are aggressively pushing the so-called American Music Fairness Act (AMFA) – legislation that would funnel resources away from local radio stations and into their own pockets.


Local radio brings you not only your favorite tunes, but also critical news and information during emergencies. This bill threatens lifesaving public service by levying new fees on local radio stations that could force them to reduce local coverage. 


Don’t let Congress stop the music – or the critical information you need. Tell your legislators today to keep local radio strong, and stay tuned for the latest information to keep you and your family safe!

ACT NOW

SAVE THE DATE

WELCOME BACK TO FRANKFORT RECEPTION

The holiday season is here, but the 2023 Legislative Session is right around the corner. Please save space on your calendar for the annual Top Shelf Lobby Welcome Back to Frankfort Reception taking place on Wednesday, January 4th @ 5PM ET, at Top Shelf Lobby, 302 Shelby Street in Frankfort.

UPCOMING LBS WEBINAR

TUESDAY, DECEMBER 13TH @ 12PM ET

How to Get More from Your Current Customers!

Join us as we discuss:

  • Becoming a Doctor of Advertising Solutions.
  • Today’s climate and why selling long-term is better than short-term.
  • Why most contracts are sold with inadequate frequency to be effective.
  • Pricing concerns and how to deal with them by understanding your customer’s margin and markups and why they are important.


This webinar is provided complimentary member service to active KBA member stations.

REGISTER NOW

JCPA LEFT OUT OF SPENDING BILL

BIG TECH WINS AGAIN

Congress drops media bargaining bill amid Facebook, industry blowback

Lawmakers on Tuesday ended what had been an effort to allow media organizations to band together to negotiate revenue sharing deals with tech giants, leaving the provisions out of a massive spending bill amid intense pushback from industry and advocacy groups. Tech is not your friend. We are.

Read More

THIS WEEKS MEMBER PIC

HE'S STILL GOT IT

Earlier this week, owner Bill Evans filled in for Brian Walker on the award winning Brian & Trisha morning show, at Quicksie 98.3 in Elizabethtown. It has been a while since Bill was last on-air, but he picked right up telling stories about the history of Quicksie, his tour inside the Fort Knox Gold Vault and so much more.

SALES TIP OF THE WEEK



WAIT, CAN I BUY MORE?

For reasons nobody can identify, years ago in this business we adopted the monthly, 13-week, and 26-week schedule.  If you’ve studied human behavior and advertising, you know that it’s difficult to change human behavior.  Which ultimately is the purpose of advertising, to get people to think first, and do business with your client instead of the competitor.  


One rule I adopted early in my career served me well:  ALWAYS ASK FOR AN ANNUAL. It seemed like a simple rule to me, and I was surprised at how many schedule presentations went out from my colleagues that were not annuals. The logic behind annuals is that we are focused on “building communities of customers” for the long-term rather than just taking the short sale. Are there times when you must take what you’re given? Of course. But too often sellers fall into the trap of taking the path of least resistance.

 

Here are the top 9 reasons to ALWAYS ask for the annual:


  1. You’ll never get an annual that you don’t ask for.  I’ve never presented a client a 13 week contract and had them respond, “Can’t I do this for the year?”
  2. Advertising works with a combination of: reach, frequency, consistency, and compelling creative.  These are the Four Keys to unlocking the true potential of advertising.  Consistency should be measured in years, not weeks.
  3. It’s even more critical for smaller advertisers. A large advertiser can come into a market and buy heavy vertical frequency for a short period of time and because of the massive budget they can dominate.  Smaller advertisers have to go with smaller schedules, which require a longer-term consistency to get results.  I don’t care if they have a $100 a week budget, if they do that for 52 weeks they can get results.
  4. Advertising works on a “cumulative effect.”  Dr. Hermann Ebbinghaus, a German psychologist in the 1800s, developed the “Curve of Forgetfulness.”  In short, we forget most of what we are exposed to within a few days, unless we have repeated and consistent exposure.
  5. Requiring annuals of your sellers encourages them to do better presentations. When the stakes are higher, you put in more thought and effort. A 2- week promotion off the rack needs very little prep time. But if you’re going to ask your client to invest for a year, you better have a compelling strategy and reasons why.
  6. Asking for annuals shows YOUR belief in your product.  If your client wants to be in business a year, or five years from now, they should have a marketing plan in place for the same period. Most don’t, but we are the experts. We need to help them understand how advertising works.
  7. Annuals reduce stress and increase growth opportunities. If you can go into a month at 80% to goal because you have a lot of annual business, think of the time you have to develop new business or dig deeper with current clients.
  8. Annuals work. Simply put, the attrition rate of annual contract buyers is significantly less than short-term buyers, because annuals get results.
  9. Annuals elevate the conversation to “business advantage/consulting.” When you have a client on an annual, you meet with them to discuss strategy, results, and new business challenges. When you have a short-term buyer, you’re busy “re-selling” them all the time and never get to the deeper levels of strategy.


As we head into 2023 take the lessons of 2022 about the importance of relationships and challenge yourself to always ask for the annual.  In all my years of doing this, I’ve never presented a 13-week schedule to a client and had them ask, “I like this so much, can we do it for the entire year?”  Of course, you won’t get every annual you ask for, but just by asking, you’ll make difference for yourself and your clients.

Jeff Schmidt is the SVP of Professional Development at the Radio Advertising Bureau. You can also connect with him by email JSchmidt@rab.com or on Twitter and LinkedIn.

Your active KBA membership entitles you to the following:

DATES TO REMEMBER

JANUARY 4, 2023

TBD - Welcome Back to Frankfort Reception @ Top Shelf Lobby


*All times shown are Eastern

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