Radio ... Who Gives Best "Bang for the Buck"?
June 21, 2011
Last week, ESPN The Magazine named the Green Bay Packers the “No. 1 Franchise In Sports.” Probably doesn’t sit well with friends such as Mike McVay, who sent me an excellent gift basket after his beloved Pittsburgh Steelers lost to the Packers in Super Bowl 45.
As a Packers fan I’m not here to brag; no one likes a show off ... I know. Why this really stood out was the methodology study behind determining the “Best Franchise In Sports.” The rankings were determined by a multi-tiered analysis that examines a team’s efficiency in spending fan money as compared to its on-field performance. It also factors in feedback in 21 categories from more than 70,000 fans nationwide, both online and on site.
Most of what ESPN looked at was the overall picture of how much each franchise gives back to fans for the time and emotion they invest in them.
That’s what caught my attention. As you well know, emotionally connected fans are worth more than money can buy (or in radio’s case, worth more than a prize pack caller #10 can win to qualify for a Lady Gaga flyaway).
So how does your station rate if you judged it based on some of the criteria ESPN used in its determination?
Let’s call this “Station Experience.” How would your fans rate your station’s quality, friendliness of environment?
“Bang for Buck”
While the NFL rates the return on what fans spend -- let’s consider the TIME fans spend with your station. What’s their return on this relationship?
Be honest. Are you still calling them names behind their back, or is your station offering mutual help and nurturing dialogue?
How do the core players of your radio station get treated? Is there a sense of collaboration, consideration and compromise? How embedded is the company within its local community?
What is the strength of the leadership within the company and the station? Is the Program Director inspiring and validating within? “True leaders create leaders, not merely followers.” --Rick Warren
What is the effort the radio talent is giving “on the field” and off? What is their likability factor? Assessing their social efforts is a great gauge.
ESPN looked at the price of tickets; how about we look at the price of time: Is each listening occasion worth my time? Do you live up to “tuneage” expectations?
This was mentioned in last week’s Jacobs Media blog on Balance. We have a new league of consumers today and a new kind of distribution that requires strategic thinking. We must take the time to distinguish why we serve.
In sports, the best “Bang for the Buck” equates money in its determination. In radio, the best “Bang for the Buck” equates more of a connection and sense of community than money in its determination. So who’s giving the best “Bang for the Buck” in radio? I’d love to hear your thoughts below.
Reach out to me anytime on Twitter @lorilewis.
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