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The Basics of Radio Advertising: Conversion

The longer the time lapse between initial inquiry and final sale, the less likely the latter will occur.

Good creative and stingy media buys can generate a high volume of calls, clicks, and store ups from Steam Heat Shoppers who may have money to spend but zero time to waste

Close Fast

I get two or three :60s to open a sale. Every second sells. 

Your in-bound telemarketers, CSRs, web designers, or sales reps get three or four minutes to meet & greet Impulse Shoppers, steer them quickly to the Thing you advertised, and seal the deal.  Every second counts.

Every second lost ("Ahhh...just a minute, let me look that up...") leaks customers.

In my system, we track total Media Cost Per Sale using 9th Grade Algebra:

Gallons per Inquiry x Cost per Gallon / Conversion Rate = Media Cost per Sale.

X = Media Cost per Saleis Media Cost per Sale. MCPS equals Response Rate times Media Cost divided by Conversion rate.

Conversion is King is the percentage of calls, clicks, store ups or other discrete actions that you convert to sales. 
Conversion rate exercises enormous leverage on Media Cost per Sale.

Conversion is King!



Clarify your creative & media strategy.

Test creative on good stations: track response & conversion rates.


 
Real People Call
Conversion is King!

1. Slickify your Website.

Think WYSIWYB: What You See Is What You Buy.  The Thing you talk about in the advertising should be the first thing anyone sees when your page loads. 

Send shoppers to a Product Page if necessary.  Recap your ad CONTENT.  Run gush from your radio.  Add two or three other rational reasons to buy now.  Link directly to your shopping cart.

If you write long-winded sell-copy listing every possible bullet-point you can possibly think of, and your web designer sets it in dense, but visually pleasing blocks of 8-point Verdana or Arial, there's an excellent chance that no-one on earth but you will read it.
I once had a client who put nine pictures of nine products on his home page. One pic -
of the thing we were selling - was in the lower right hand corner. It linked to an internal page that displayed a single 4,000 word paragraph of text and one bold face bullet point: $199.95. The radio attracted 894 HPH this first week. He made 6 on-line sales. Average TSOL was about two minutes. Just enough time to find the home page pic, load the "sell page," and bail out. The phone calls he got off the home page didn't do much better. His mom answered the phone.

If you cannot slickify your home page for radio, we'll build a separate URL or streaming landing page.

Track UV1 Conversion.  UV1C should be 8% to 18% before you launch radio. 

Slickify Conversion!

Can You Close a Sale
In Three Minutes?

Streaming Landing Pages

UV1 Conversion

GM/C=X

Set Target C


2. Slickify your Telemarketers.

All callers are DOAs, info-seekers, or Ready To Buys.

Greet all radio-driven callers with a :60 to :90 loop tape that states who you are and what you sell in the first 15 seconds.  (This weeds out DOAs: kids, cranks, confused...) 

Invite callers to "Press 1" to speak to a human or stay on the line to "learn more."  Then feed CONTENT to info-seekers and juicy out-takes from your Real People Radio commercials.

A TM should answer each call about ten seconds after the Press 1 option. "Hello, my name is Peter Burkhard.  Thanks for calling Burkhard Works. How can I help you today?"  Listen to the callers' PROBLEMS.  Solve them.  That's why they called.

Do NOT launch into long-winded explanations of Your Thing.  Send info-seekers back to the loop tape, or to your web page.

Many RTBs will need a few extra facts to rationalize an actual purchase. They'll ask.  Scripted answers to FAQs are absolutely necessary. TMs who fumpher are fatal.  Small bonuses per appointment or upsell will boost C.


Conversion is King!

Can You Close a Sale
In Three Minutes?

1-800 Conversion

GM/C=X

Set Target C


3. Slickify Your Sales Force.

Every floor sales person should hear your radio commercials several times and know exactly what most Impulse Ups are likely to be looking for.

Meet, greet, and proceed directly to The Thing. Good commercials will often drive in people who are more Quality Conscious than Price Conscious.  Expect more cash buyers than get-me-dones (unless that's who you want).

In 1998 a Chevy dealer neglected to set that criteria and was mightily steamed when I sold off 18 loaded Camaros one weekend.  His 17 stripped-down models stayed on the lot, rusting slowly.



Conversion is King!

Can You Close a Sale
In Three Minutes?

Retail Conversion

GM/C=X

Set Target C

4. Slickify Aisle 5.

Potato Chip route reps fluff the bags every day.
If you want the Safeway stock-boy to keep your eight inches of shelf space full, pay him. Use a line from your radio copy on shelf-talkers, instant coupons, and the like to move product now.  If possible, split media costs with your retailers in test market stores.

Run your radio advertising during peak UPC hours, while people are driving to the stores. Compare benchmark averages to radio flight surges.  Good shopping-time radio can always give you a lower media cost per retained or new customer than prime-time TV.  


Conversion is King!

Brand Support Radio

UPC Tracking

Bar Code Conversion

Media Cost Per Customer


5. Slickify Your Back End.

A finely tuned Direct Response, Retail, or Brand Support Radio campaign can quickly build awareness, response and trial.

Your long-term profits, though, will come from retention, re-orders, brand extensions, and upsells. I bring you a bird in the hand.  Birds lay eggs.

The better you do on the back end, the more you can afford to spend building the front end.  Your own customers will happily pay-as-you-go.

Are you ready to get started?

 


Back End Conversion

P & PI Tracking

Ten Case Histories

The Radio Show

Advanced Concepts of Radio

Planning for ROI.xls




 
Clarify your Creative & Media Strategies
Test creative on good stations: track response & conversion rates.


Free Planning for Radio ROI.xls

My Free Planning for Profitable Radio Advertising Excel Workbook guides you through communication strategy, media selection, budget, and time line for a 10-day to 3-week test. Send for a copy before you leave this site.


Peter A. Burkhard



© 2012 PETER A. BURKHARD   (407) 895-3092)    peter@burkhardworks.com