Public and commercial radio have seen website and digital platform traffic surging in the last three months during the COVID-19 pandemic. Listening habits are shifting from broadcast to digital platforms and smartphones specifically are being used even more than they have been in the past. This is a shift in behavior that can be leveraged for more digital revenue if planning and preparations for success are made now. Are you ready?
Borrell Associates shared in their April 2020 webinar that Phase 3 of business reopening will be an opportunity for media if we are prepared. Borrell Associates research predicts a boost in advertising revenue this summer. Here are five ways you can increase your digital revenue in FY21 when businesses reopen and when some events that were delayed this spring come back in Phase 3.
1. Review your digital ad revenue.
Compare your year-to-date FY20 digital revenue to that of FY19 (using your data from Greater Public’s FY19 Benchmarks for Public Radio Fundraising) to see if your sponsorship team is increasing digital sales. Many teams look to double digital revenue year over year. If you are already maxing out your digital capacity, look for new digital ad units you can offer or ad units that could be better utilized.