It’s the Money, Honey…
From the 2010 ScLoHo archives with a couple of updates for this year, 2013.
30 years ago, I was a rock and roll radio disc-jockey.
I worked on the air on the top music station in town playing everything from the Doors to John Fogerty, Black Sabbath, and even some Cat Stevens and the Jacksons. WMEE was the #1 Top 40 music station in Fort Wayne.
After a few more stops, I moved over to the advertising side of radio in Detroit. I had learned the business side of the entertainment industry and the truth about radio, tv, newspapers, magazines, etc.
Today, I am back in the radio advertising business and social media, and a few other projects too. I am now with one of WMEE’s sister stations WOWO.
The vast majority are supported by advertising. And advertising money is spent to get and keep customers and clients by the businesses that run the ads.
If the advertising doesn’t produce a Return On the Investment (dollars spent on advertising), then a couple things happen.
First off, the business may stop advertising. The business may close if they cannot afford to stay open due to lack of customers.
Then the advertising medium (radio, tv, newspapers, magazines, etc.) loses money because they have lost that particular advertiser. And they advertise to fund their operation and pay the people they have on staff. Including those rock and roll disc-jockeys.
If a radio station cannot generate enough money through advertising, it is in danger of changing its format. If a TV program doesn’t generate enough money through advertising, it is canceled.
If a newspaper or magazine doesn’t generate enough money through advertising, it slows down or stops printing.
US News & World Report was a magazine that I used to subscribe to in my 20’s and 30’s. Not anymore. And they are one of a multitude of print publications that are no longer going to be available.
Is the web the answer? Is social media the answer?
I say maybe and no.
Maybe, if the internet can generate money. The same goes for the social media platforms.
No, if you are looking for a quick fix. Despite the tremendous growth in technology via smartphones and the like, despite the growth of Facebook, Twitter, LinkedIn, YouTube, (and the list goes on and on)…
Unless there is money being made it won’t work.
Someone has to be willing to buy something and someone has to be willing to sell something of value.
And the marketer’s job is never done because of the continuing changes.
So, got an idea? Great! Now figure out how to sell it. Need some help? Contact me @ScLoHo on Twitter or with an email to Scott@ScLoHo.net