Syndicated radio host Dave Ramsey offered financial advice to radio stations during his Wednesday RAB webinar appearance. Ramsey stated that stations must know how to sell and to whom in an inflationary economy.
“Every budget that everybody that’s possibly going to buy an ad from any of us is getting tighter and tighter,” Ramsey said (h/t Inside Radio). “They’re looking for anything that is superfluous, anything that is extra, any fat, anything that’s not ROI-ing.”
Ramsey used how he goes about the advertiser standpoint for “The Dave Ramsey Show” itself.
“We buy a lot of digital space with Facebook, Google and others, and we’re looking at the ROIs on every one,” Ramsey added. “We’re pulling way back on the amount of stuff we used to buy there, to only the ones that are effective.”
Finally, Ramsey stated that radio needs to be sufficient. Amid the budget cuts, the good news for sellers is that clients will stick around as long as the medium produces.
“We’ve always sold our radio properties based on results, not ratings,” Ramsey says, “So our customers have stuck with us as they’ve tightened their budgets because they’ve got proven attributable results to the ad run. It’s not simply an agency doing an ad buy just based on points.”
Eduardo Razo is the Assistant Content Editor for BNM, which includes writing daily news stories on the news media industry. He can be found on Twitter @eddierazo_ or you can reach him by email at eddie1991razo@gmail.com.
