A vital revenue and programming trend to is "hyperlocal" marketing. It is easy to assume that live, local radio is hyperlocal but in marketing terms it is not. Hyperlocal to a brand marketer is content, technology and commerce that is one step in front of the target customer. Hyperlocal marketing influences the buying decision at the moment of decision and purchase.
For example, if your station offers an app with hyper-local commerce capabilities, a listener carrying that app could walk by a Dunkin' Donuts, and via GPS, the app could signal the listener that they can go into THAT DD and receive a free donut. That's hyperlocal marketing at its simplest.
The levels of usage are profound. Advertisers can now separate customer leads from page views of ads on your website. According to Tech Crunch, Yelp is announcing a new feature intended to highlight and quantify the value that the listing and review site provides for small businesses. The feature separates customer leads from page views---those leads can include things like bookmarking a Yelp business listing, mapping directions to the business, placing a phone call from the Yelp app, or purchasing a Yelp deal.
A Radio show could electrify the city with hyperlocal interactivity resulting in fresh revenue. Nothing drives customers to a retail business like a radio star discussing the business as part of their show. Product placement. The challenge has been selling placements and making a seamless on-air integration.
In the pipeline is voice recognition software that will identify the name of a businesses every time it is said by an announcer, automatically invoice the business for each mention and send a link to listeners who have downloaded the station's app. The links would contain instant discounts ---or whatever information you would like them to have about your advertiser.
Every day top marketers receive the latest information in hyperlocal marketing from STREET FIGHT. It's free. The CEO and co-founder is Laura Rich who spent many years covering Radio for top trades and was a reporter for the New York Times. STREET FIGHT a good read backed by solid reporting. Here's how they describe themselves:
What is Street Fight? (Click the link to subscribe)
Street Fight is a media, events, and research company focused on the business of hyperlocal content, commerce and technology. The Street Fight website publishes news, commentary, case studies, and how-to articles to help the hyperlocal ecosystem achieve sustainable business models.
Even though the words "ecosystem" and "marketing" appearing in the same descriptive paragraph makes us nervous, it's a terrific publication.
THE BIG CHALLENGE:
In many meetings the words "hyperlocal" are used without an agreed definition. This is a new tool. No one owns the expertise or glossary of terms. Don't be afraid to ask the meaning of new marketing slang and don't be afraid to explain it.
Walter Sabo is the Chairman of Sabo Media, a company that offers executive-on-demand services. He has worked on-site to build out new digital content platforms such as Sirius/XM. His team was the first to discover the marketing clout of web stars, Internet organic video producers. They founded OMMA award winning HITVIEWS. The company placed brands such as CBS, TiVo and Mountain Dew inside UGC. In FM broadcasting he is a leader in the profitable sector of FM Talk and held executive positions at NBC and ABC Radio. He can be reached at firstname.lastname@example.org.
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