Radio like many other traditional media channels is addressing the digital media and advertising by developing strategies that transform them from radio to content companies. Where radio as a medium is one of multiple channels, or endpoints to reach their audiences. Transforming them from being live and local to having national and global audiences.

Here the strategies the leading companies are developing, along with leadership insights on how they are digitally transforming form radio to global digital media and marketing companies.

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Transforming a radio company into a multi-platform local media and marketing solutions provider requires more than just cobbling together random digital assets and trying to sell them. Radio’s top-performing digital companies have invested in building a full-service menu of sophisticated digital products that can compete with any digital marketing agency, while also providing extensive training to their sales forces. The results, in some cases, are stunning.

How does a company become a digital over-achiever, outperforming the industry average in the portion of its total revenue derived from digital? Inside Radio interviewed top execs at two companies that, according to Borrell Associates, meet this definition.

For these and other top digital performers, digital sales go far beyond merely selling streaming audio pre-rolls and website banner ads on their digital assets, to include a range of digital marketing services. “Our approach is to offer advertisers customized solutions across our owned and operated radio and digital properties as well as via the full suite of 2060 Digital products and services,” says Steve Goldstein, Senior Director, Digital Sales Strategy at Hubbard Broadcasting. 2060 Digital is the company’s digital services division that launched in January 2012 in Cincinnati, before being replicated in all of the company’s markets in November 2014. It allows Hubbard to provide complete marketing packages designed to meet an advertiser’s specific needs. “For example, if an advertiser needs everything from a website or landing page plus the marketing services to drive traffic and leads, we can do that,” Goldstein explains. And for those that already have existing digital assets, Hubbard can “build a customized plan that incorporates only the services needed to accomplish their marketing objectives.”

Similarly, Townsquare Media strives to offer businesses a comprehensive suite of digital products. By including digital offerings in all of its radio and live event sales pitches, more than 70% of broadcast clients buy more than just broadcast ads. “Although we have a wide breadth of advertising solutions across broadcast, digital and live events, they all intersect and operate in the same local market ecosystem, which allows us to focus on super-serving our local clients and helping their business grow,” says Bill Wilson, the former AOL exec who took over as sole CEO of the company earlier this year.

Key to that success is Townsquare Interactive (TSI), which provides digital marketing services to 16,200 small-to-medium-sized businesses. The segment is on track to deliver more than $50 million of revenue in 2019, and $100 million within the next three to five years. In addition, Townsquare Ignite, the digital programmatic ad platform that launched five years ago, will approach $50 million in revenue and is the fastest growing division of the company >> READ MORE

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A lifetime serial entrepreneur, mentor, advisor, and investor. Obsessed with the infinite realm of possibility in the digital transformation of the world, digital media, marketing and the blockchain.