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Oct 19, 2009 by Paul WhiteOver the past weekend, I talked to one of my clients who was working closely with the owner of a chain of seasonal Halloween stores. The owner reported his sales are way down from where they were last year. They are about 1/3 of his 2008 sales numbers. Normally I would say he needs to market himself better. But he was already doing several billboards on major roads ( I-45, I-10 ). These billboards get millions of views each day. He also had one of the major radio stations do a remote. He paid them $8k to come out and broadcast from their location. He was hoping this would help to drive traffic. Even though its unrealistic for Business owners to expect a Radio Remote to drive lots of people to their location during the actual broadcast, as its value is more in the branding it offers. Still a owner would expect at lease a few people to show up. Nobody showed up. To say the least this owner has no plans on doing any kind of radio remotes again. This is yet another example of not setting the client's expectations. Radio stations are becoming more concerned with maximizing their profits on the short term, than to offer a product at the real market value, that would have spawned repeat business, or referrals. If your clients are not getting the ROI they should from your advertising products, you may want to rethink how much you are charging.
Don't get me wrong I understand that radio is in the business to make money. But the key to success is to maintain a higher level of demand than your supply. Don't fall into the GM business model, driving sales by discount, just to clear out inventory. This damages your brand. And don't charge premium prices for non premium products. This will damage your reputation to deliver on what you promise.
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