NABOB Generates $1.2 Million Ad Buy
November 16, 2012 at 4:00 AM (PT)
Recently, a radio advertising order totaling approximately $1.2 million for NOVEMBER and DECEMBER 2012 was placed by a consortium of mortgage companies, and NABOB member stations received most of it. NABOB, in cooperation with key members of the CONGRESSIONAL BLACK CAUCUS, was behind the effort to get these advertising dollars on NABOB stations.
NABOB Exec. Dir. JIM WINSTON said, "I was invited to represent the organization at a working session called 'Gathering Requirements for an Expanded IFR Media/Outreach Plan,' convened by the Office of the Comptroller of Currency (OCC) back on AUGUST 15th. The Independent Financial Review (IFR) is a program being conducted by the OCC and the nation's largest mortgage companies to inform former home owners that the foreclosures on their homes may have been conducted improperly and that they may be entitled to compensation. The OCC and the mortgage companies asked NABOB how radio advertising could help them communicate their message about the Independent Foreclosure Review to African-Americans across the country, because African-Americans were disproportionately affected by foreclosure. I asked SPOTSET RADIO NETWORKS to join me in the presentation, because they are a business development arm of NABOB. The audience, in addition to government officials, included senior marketing executives from the mortgage companies, including WELLS FARGO, CITIBANK, JP MORGAN CHASE and BANK OF AMERICA."
"Our presentation was very well-received by the substantial audience present," he continued, "with particular interest in the NABOB oriented diverse radio network developed by SPOTSET to effectively reach the African-American audience. Each consortium member bank was assigned a specific task necessary for execution of their marketing plan, and NABOB/SPOTSET was directed to work with BANK OF AMERICA on the media planning and media execution across 65 markets. SPOTSET worked closely with STARCOM/TAPESTRY for over a month, and they developed an IFR avail request which went out."
"The net result is $1.2 million dollars for NABOB radio members and the urban radio community as the 2012 year comes to a close," added WINSTON.