Findings by Break Media show that Video advertising continues to grow on the web, fueled mainly by Mobile and Pre-Roll. In a blog post eMarketer predicts that video ad sales will see a 40% increase to over 3 billion dollars in 2012. If your station isn’t aggressively pursuing your piece of that pie, you’re missing out on some serious revenue.
According to the study, most advertisers are using a CPM based rate for their Video Advertising, and while this is popular in some formats, it definitely isn’t the only way to sell your video inventory (pre-roll and in-stream).
Advertisers actually prefer a cost per acquisition model which allows them to more accurately provide an ROI on the advertising investment. The web is a great venue to prove to your advertisers that their money is being well spent.
Hyperlocal publishing sites were the most effective at achieving results for Small Businesses, according to 43% of respondents in a study by StreetFightMag. Radio stations need to capitalize on this growth and provide an engaging website with innovative opportunities for advertisers.
Connecting the dots, your radio station is that hyperlocal publishing destination. For years radio has dominated that market over the airwaves, and in the digital age, it must translate over to the web. Don’t stick to one type of ad pricing model. Mix it up with a combination, and get creative with how you pitch the material. Show your local small businesses the power of the web for their advertising campaigns, and they will keep coming back for more.
Have you sat down and thought about your Digital Sales Strategy this year? If you have any questions give us a call, our Sales Training Program can help you start increasing sales and thinking about Internet Advertising in a new light.