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In the blog posts of the past few weeks and months we have focused intensely and at length on the main topics in audio, and we are happy to note that the feedback has been very positive. A number of you, however, also wanted shorter texts or summaries to get the gist of what we have to say faster, for busy radio professionals and managers. That's why in keeping with the summer, sunshine, vacation, month of August I would like to provide a short summary of our past posts and of the most important and pressing topics associated with audio-based business models. After all, who wants to spend a lot of time thinking about questions about the future when the order of the day is chillin' and grillin'
- The audio future is digital. "Classic" radio broadcast programs will be around for a long time to come which is why I am a firm believer in the coex-istence of linear and digital audio offerings. But audio
advertising will be traded in future like internet advertising primarily on electronic marketplaces or online platforms – I am adamantly convinced of it.
- That's why the digital transformation is not a voluntary exercise for audio publishers, especially private broadcasters financed by advertising, but as I see it, it is an absolute necessity. Best start now to optimize work processes electronically and make use of additional sales potentials. In the medium and long term to be able to take part technologically on an advertising market that is organized digitally, to be able to compete and to be able to secure the existence of your company.
- In the digital transformation of our audio advertising world – from a technical standpoint – it is all about the automation and digitization of advertising offerings, specifically all processes involved in the marketing of radio advertising inventories as well as the electronically triggered – largely automatic – launching of advertising campaigns and all sales processes associated with it (automated audio advertising). In the broadest sense, however, it's all about securing the future through the transformation of business models.
- No one can accomplish the digital transformation without devoting attention to it directly. It has to be professionally planned and executed. As a shared project involving all participants with sufficient financial backing, time and personnel resources and at best professional project management specialized in
audio AND digitization.
- Advertising customers are increasingly interested in regionalization, targeting and dynamic advertising formats (analogous to customized personal customer contact on Facebook and Co.). This is made possible by Data Driven Advertising as the "Premium Model" of automated audio advertising. The technology also supports advertising placement that adapts automatically to current and regional data in linear radio, such as weather conditions, sporting events or the latest consumer trends.
- More and more audio content – no matter whether music, spoken word or advertising, no matter whether linear and/or digital – always inevitably requires more efficient production, archiving, cataloging, distribution and broadcasting of the content in different channels (key word: multi-use!). In the advertising sector alone the amount of content to be produced and managed is vastly increasing due to data drive campaigns. A modern, comprehensive, reliable and, of course, digital content management system is thus essential. In the best case one that can also be used to manage production.
- Bottom line: the digital transformation has been up and running for a long time! And is not a danger, but rather a great opportunity from a business perspective that no one should let pass by and, I am convinced, no one should miss who wants to guarantee the success of their audio business in the future.
There are established business models. There are national marketers and local distributors that succeed in supporting their customers. And that's the way it should be! But I also recommend audio publishers urgently to start marketing their advertising inventory now in as many different ways as possible and also to monetize any unused inventory using the digital transformation. What today appears to be a logical complement to established marketing channels from a business standpoint will in the foreseeable future be the key to the digital advertising market overall. And thus, a matter of survival for private audio publishers! So – why not start now? There is no reason to wait. Unless, of course, you are on a well-deserved summer holiday.
Your Nico Aprile
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