One thing I hear many people say they love most about being in sports media sales is that no two days are ever alike. And, while I understand what they mean, I will say that while the days are different, sometimes the conversations are the same.
Here are five of the top questions I am asked from clients on a regular basis and the answers I generally give:
Should I run 15, 30 or 60 second commercials?
The true answer is however few seconds you can use to get your message across. I wrote about copy recently and one of the things I see too often is clients (and sellers) who are trying to jam too much information in to a commercial. Who are you, why would someone buy your product or service over others, what’s in it for the buyer and how can they get more information if they need or want it. Get the listener to feel an emotional connection that makes them want more, so they call you, visit you or go to your website. Less is most definitely more when it comes to the length of spots. The last thing you want to do is pay for time when the listener has tuned out of your message.
Are endorsement ads worth the premium?
If the endorser is good at what they do – absolutely. A great endorsement ad will generate a much greater response than a great recorded ad. First and foremost, just for the placement alone. If the station does endorsement ads inside of programming, that’s where you want to be. Otherwise, you should expect for the ad to be played in the first position of the commercial break. Secondly, good hosts command a loyalty from their audience and you pay the premium to piggy-back off that loyalty.
The best I’ve ever heard is a long time St. Louis talk show host who goes by Frank O. Pinion. He is the master of blending content in to the endorsement ad so that he can have a conversation with the listener about the product or service and half the time you’re unaware he veered in to an ad. This makes his endorsement so much more effective and worth the premium – the listener hears the ads as content!
How long will it take for my advertising to work?
If the frequency and copy are good, you should expect results after 8-12 weeks of consistent advertising. Roy Williams (the Wizard of Ads, not the Tar Heels head coach) wrote a great article about the “chickening out period” (https://www.wizardofads.com.au/the-chickening-out-period/), which he says happens usually between the second and third invoice. It’s our job to set the expectations properly and, as a great friend of mine does, you should consider giving this article to new clients. Cut the objection off before it happens, because it’s going to happen. There have been far too many businesses who have run short term campaigns, not seen quick results and pulled the ad dollars, sometimes forever. It works, if you let it work.
How will I know if my advertising is working?
I’ll answer a question with a question: How’s your business doing? Is it better since you started a consistent advertising campaign, with the right message, to the right targeted market? If so, it’s working. With that said, as a business operator, you should ask every single person, you come in contact with, how they heard about your business, just as you should try and keep track of any other demographic information you can, so that you can continuously target the right audiences. What was it NBC used to say, “The more you know….?” Well, the more you know about your business and the customers you have, the easier it is to plan your advertising.
How much should I spend on advertising?
As much as you can afford. We all know that, depending on who you ask, the rule of thumb is somewhere between five and ten percent of gross revenues. If your frequency is correct, the message is on point and the audience is the right target for your business, you won’t ever regret spending more dollars than recommended to advertise – which is investing dollars to invite people to do business with you. On the flip side, you’ll regret the heck out of not spending enough. Buy what you can own, starting with a smaller net and then growing it to a larger one. Be consistent. Buy long-term. Don’t chicken out!
Keeping Premier League Games Shouldn’t Be A Hard Call For NBC
“Beyond its massive global fanbase, the Premier League offers NBC/Peacock a unique modern 21st-century sport for the short attention span of fans.”
NBC Sports is facing some tough, costly decisions that will define its sports brand for the rest of this decade. A chance to connect with viewers in a changing climate and grow Peacock’s audience as well. However, making the right choice is paramount to not losing to apps like Paramount+ (pun intended).
NBC is currently in the business of negotiating to continue airing the Premier League as their current deal ends after this 2021-2022 season. NASCAR is contracted to NBC (and FOX) through the 2024 season.
NBC’s tentpole sports are the NFL and the Olympics.
Negotiations for the EPL are expected to go down to the wire. Rather than re-up with NBC, the league is meeting with other networks to drive up the price. NBC has to then make a decision if the rights go north of $2 billion.
Should NBC spend that much on a sport that is not played in the United States? It’s not my money, but that sport continues to grow in the US.
If NBC re-ups with the Premier League, will that leave any coins in the cupboard to re-up with NASCAR? Comcast CEO Brian Roberts hinted that there might be some penny pinching as the prices continue to soar. This may have been one of the reasons that NBC did not fight to keep the National Hockey League, whose rights will be with Disney and WarnerMedia through ESPN and TNT, respectively.
“These are really hard calls,” Roberts said. “You don’t always want to prevail, and sometimes you’re right and sometimes you’re wrong, but I think the sustainability of sports is a critical part of what our company does well.”
Roberts was speaking virtually at the recent Goldman Sachs 30th Annual Communacopia Conference. He told the audience that between NBC and European network Sky, that Comcast has allocated approximately $20 billion towards these sports properties.
Comcast CFO Michael Cavanagh spoke virtually at the Bank of America Securities 2021 Media, Communications and Entertainment Conference and echoed that the company is in a good position to make some strong choices in the sports realm.
“The bar is really high for us to pursue outright acquisitions of any material size,” Cavanagh added. “We got a great hand to play with what we have.”
While the European investments involve a partnership with American rival Viacom, the US market seems to have apparent limits.
Last Saturday’s NASCAR Cup Series at Bristol Motor Speedway was seen by around 2.19 million people. It was the most-watched motorsports event of the weekend. That same week eight different Premier League matches saw over 1 million viewers. More than half of those matches were on subscription-based Peacock.
Beyond its massive global fanbase, the Premier League offers NBC/Peacock a unique modern 21st-century sport for the short attention span of fans. A game of typical soccer fan is used to a sport that is less than two hours long. The investment in a team is one or two games a week.
My connection to the Premier League began before the pandemic. When I cut the cord in late 2017, I purchase Apple TV. Setting it up, it asks you to name your favorite teams. After clicking on the Syracuse Orange and the New Jersey Devils, I recalled that my wife has family based in London, England. They are season ticket holders for Arsenal, and that family redefined the word “die-hard” fans.
I’ve long been a believer that sports allegiances are best when handed down by family. I love hearing stories of people loving the New York Giants because their parents liked them, and they pass it down to their children.
I’ve successfully given my allegiance to the Devils to my young daughters.
By telling Apple TV that I liked Arsenal, I get alerts from three different apps when the “Gunners” are playing. The $4.99 is totally worth it to see Arsenal.
Whenever I told this story, I was amazed to see how many other American sports fans had a Premier League team. Students of mine at Seton Hall University rooted for Tottenham Hotspurs, while an old colleague cheers on Chelsea.
This is not meant to say that NBC should sign the EPL on my account. The key for any US-based soccer fan is that between Bundesliga, Serie A, and other leagues, there will be no shortage of soccer available on both linear television and streaming services.
Besides, Dani Rojas did say that “Football is life.” NBC, originator of the Ted Lasso character, should make keeping its Premier League US connection a priority.
Media Noise – Episode 45
Today, Demetri is joined by Tyler McComas and Russ Heltman. Tyler pops on to talk about the big start to the college football season on TV. Russ talks about Barstool’s upfront presentation and how the business community may not see any problems in working with the brand. Plus, Demetri is optimistic about FOX Sports Radio’s new morning show.
6 Ad Categories Hotter Than Gambling For Sports Radio
“Using sports radio as a back page service for gambling will have a limited shelf life.”
For years sports radio stations pushed sports gambling advertisers to early Saturday and Sunday morning. The 1-800 ads, shouting, and false claims were seedy, and some stations wouldn’t even accept the business at 5 am on Sunday.
Now, with all but ten states ready to go all in on sports gambling, sports radio stations can’t get enough of that green. Demetri Ravanos wrote about the money cannon that sports gambling has become for stations. Well, what if you are in one of those ten states where it isn’t likely to ever be legal like California or Texas? Where is your pot of gold?
Or, let’s face it, the more gambling ads you run, the more risk you take on that the ads will not all work as you cannibalize the audience and chase other listeners away who ARE NOT online gambling service users and never will be. So, what about you? Where is your pot of gold?
Well, let’s go Digging for Gold.
The RAB produces the MRI-Simmons Gold Digger PROSPECTING REPORT for several radio formats. In it, they index sports radio listeners’ habits against an average of 18+ Adult. The Gold Digger report looks at areas where the index is higher than the norm – meaning the sports radio audience is more likely to use the product or service than an average 18+ Adult who doesn’t listen to sports radio. The report, generated in 2020, indicates that sports radio listeners are 106% more likely to have used an online gambling site in the last thirty days. That’s impressive because the report only lists 32 activities or purchases a sports radio listener indexes higher than an average adult. I looked at those 32 higher indexes, and I think we can start looking for some gold.
Using sports radio as a back page service for gambling will have a limited shelf life. The gambling companies who commit significant money to get results will continue advertising and chase the others away. So, the future of sports radio needs to include other cash cows.
If it is evident to online sports gambling services that sports radio stations are a must-buy, who else should feel that way? I looked at the Top 32 and eliminated the media companies. ESPN, MLB/NHL/NFL networks, and others aren’t spending cash on sports radio stations they don’t own in general. But Joseph A Bank clothing, Fidelity, and Hotwire should! Here’s your PICK-6 list I pulled together that’s hotter than sports gambling:
- Sportscard collectors, Dapper Labs, Open Sea- read about Sports NFT $.
- Online brokerage firms-Fidelity, Charles Schwab, Robinhood, Webull, TD Ameritrade
- Golf courses, resorts, equipment, etc.- we play golf at home and vacation
- Hotwire.com, Booking.com, TripAdvisor, Airbnb, Carnival Corporation, and Priceline.com- we’ve used Hotwire in the last year.
- FedEx, UPS, U.S. Postal Service, Venmo, PayPal, Zelle-we wired or overnighted $
- Jos. A. Bank, shein.com, macys.com, nordstroms.com- we went to Jos. A. Bank in last three months
The sports card/NFT market is 32% hotter than the sports betting market for sports radio listeners. Everything on the PICK-6 is at least 100% more likely to purchase than an average 18+ Adult who doesn’t listen to sports radio. All listed are at or above indexing strength compared to sports betting. The individual companies I added are industry leaders. Bet on it! Email me for details.