Radio Ink Magazine – August 12, 2019

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6 RADIOINK•COM AUGUST 12, 2019

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Thoughts of summer begin to fade

as September starts to rise on the

horizon.

And shortly after the pool has

been closed for the season, so,

too, third quarter ends. In what

seems like the blink of an eye, the

first nine months of 2019 will soon

be wrapped up and in the history

books. And we start to move on to

the final three months of the year.

There’s something about the

fourth quarter that brings about

a high-charged rush, adrenaline

pumping amid the scurry of activ-

ity as wrapping up one year melds

into planning the next. It’s a time

of both assessment and forward

thinking — one eye peering behind

at sights past and the other

focused on the visions beginning to

emerge over the crest of the hill on

the road ahead.

And it’s a crowded road, full

of aggressive, competitive media

drivers poised to pass us up if we

dawdle too long adjusting that

rearview mirror, or run out of gas

before we make it to the next stop

— the roaring 2020s.

That’s why looking ahead and

not running in place become

increasingly important. You can’t

plan tomorrow if your calendar is

stuck on today’s page.

Radio has been consistent, if

not growing, over the past several

years. Some might see that as a

victory compared to other “tradi-

tional” media, namely television

and newspapers, which have suf-

fered steady declines over the past

few years. The impact of digital

platforms on advertising revenues

has most certainly been significant.

And we don’t want to be like televi-

sion or newspapers. We don’t want

flat to turn to red on our road.

Incessant worry about making

2019 at this point, however, won’t

move the needle and might even

stall progressive efforts or, worse,

program them to fail.

Rather, it’s time to prepare for

2020, starting with anticipated

political spending, estimated by

WPP PLC’s ad-buying unit GroupM

to rise to a whopping $9.9 billion,

up $3.6 billion compared to the

2016 presidential election and well

more than double spending in 2012.

Political spending in 2018 was

“shockingly high,” said Brian

Wieser, global president of busi-

ness intelligence at GroupM.

“There’s just generally more activ-

ity in a presidential year than a

nonpresidential year, so whatever

the 2018 number was, 2020 was

going to be bigger.”

Of the total 2020 estimated

political advertising, $2.8 bil-

lion is projected to go to digital,

representing 2.2 percent of that

medium’s total revenue.

That’s an enormous amount, and

at some point, saturation will be

reached. Radio needs to be ready

to rescue those excess dollars.

That means being top-of-mind

before the specs are plopped down

on the buyers’ desks. What’s your

game plan? Are you getting ready

to prep your reps with metrics and

attention-getting materials? (It’s

just one topic that will be tackled

at Forecast 2020 on November 20

at the Harvard Club in New York

City, by the way.)

Meanwhile, more than half of

U.S. households will have a smart

speaker by 2022, according to

Juniper Research. That’s a huge

opportunity for brands to discover

the magic of audio’s first “theater

of the mind.” Focused efforts by

radio execs calling on Madison

Avenue execs can make a big dif-

ference. Perceived value won’t

happen at the buying level. It’s

too late then. Radio needs to be in

front of the real decisionmakers

first. Do you have a plan for that?

The same holds for the automo-

tive dash. The momentum and

the relationship-building need to

be ongoing. I come from Dayton,

birthplace of aviation, along with

the cash register and other great

innovations. No one thought

Dayton would ever lose NCR, but it

happened. Reasons can be debated

as to why, but bottom line, you can

never be too proactive.

Millennial consumers, 18 to

35 years old, have entered into

a major spending time of life as

they pursue careers, buy homes,

and start families. They are now

the largest living generation,

spending collectively $600 bil-

lion a year. And they are digital

natives. If you aren’t taking steps

to attract and encourage their

loyalty now, your chances of suc-

cess in the coming decade could

be greatly diminished. Add to

your “must do” list lunches or

chats with millennials on your

staff. Seek their input — get their

perspective —on how to make

your station more competitive,

not only with listeners, but in

marketing to advertisers as well

as prospective new hires.

Fourth quarter. Some see it as

the end. It’s not. It’s more like the

beginning of the beginning.

WHAT’S YOUR PLAN?