Isn’t it time we Made some money…?

It was an aside…but a buddy at an NBC affiliate recently told me, “Yeh…we do about 3-4% of our revenue from digital media (his phrase not mine)…but most of it is accounting.  I’m not sure how much we really sell that is pure digital media…”

Value add in hot markets

As an industry, both radio & TV stations have struggled to make money with ‘new media’ – too often it’s a value add necessary to get share or even on the buy.  Radio has had ‘promotions’ thrown in for years…and TV has had spin or trips…now it’s new media that polishes the buy. 

I don’t want to hammer the reasons or castigate anyone for narrow thinking – because in truth it’s pretty daunting. 

The list from loyalty marketing to mobile and social media could all be their own business units and no one has the time or resources to do that.  Furthermore, the business has been collapsing around our ears – and while the slide has stopped, it wasn’t new media that hit the brakes.

A couple of  thoughts…

1) Step away from the station!  Not all marketing solutions have to be portaled (newly invented verb) from your website.  Most stations have websites as cluttered as a fishing dock at an Alaskan marina on opening day.

2) If you’re going to be in the content business – better make sure it’s unique. That’s not easy – most TV stations have the same news -but, for example,  at KOMO (Seattle) and KATU (Portland)  TV they are developing local neighborhood content that is often user-generated.  That’s unique – and they are making some money from it…also unique.

3) Please keep it simple.  Most of your audience are Luddites – embarrassed they don’t know more about technology.  This is particularly true outside of the tech islands of San Jose, Austin, Chicago, Boston and Seattle.  Think about the audience in Amarillo and Evanston….

4) Whatever you do – make it work on the web before you take it mobile.

5)  Bring someone in who knows the ‘new media’  business on an interim basis…this is TOTALLY self serving , but it’s a strategy more stations are looking  at as they realize it IS time to make some money. 

Good hunting…

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