EndorsementRadio.com

The Future

I hate it when this happens. About a month ago, I submitted three proposals to our corporate executives at Clear Channel describing ways that we could innovate the way we do business within our company. In one of them, I explained to them, what I see, as a major opportunity to maximize our podcasting capabilities. Currently, listeners can download podcasts of any programming they may have missed from their favorite shows. So if a listener missed Bill Handel’s interview with Arnold Schwartzenegar, they can just download it later and never miss a thing. Plus, advertisers get to sponsor it with a :15 second commercial that listeners must hear before getting to programming content.

Here’s my idea: Podcast content provided by advertisers. The content would be presented under the heading of “Learn from the Experts”. While we are experts in radio news and entertainment, our advertisers are experts in their particular field. Our demands would be that the information not be a pure advertorial; rather real, helpful, insightful information for our listeners. Of course, all call-to-actions would direct listeners to call, click, or respond to our client in some way.

For example, a plumbing advertiser can do the “Fix a leaky Toilet” show providing basic plumbing tips. Our lawyer can do a “File a Small Claims Seminar”. Our mortgage company can do a “Watch for Pitfalls when buying a home” show. Whether in interviews or one-person, clients will find this a valuable way to showcase their knowledge and bring sales their way.

I thought this was a pretty innovative idea, until I read the Wall Street Journal on Monday. Naturally, TiVo has beat me to the punch by executing this idea on television. Companies like Kraft and GM are already taking advantage of this and providing On-Demand content that is actually informative for someone that is genuinely interested in learning about that product category. Of course, Ford is pissing away this opportunity by creating cute ads that they hope people will download for the entertainment value. They have hired Penn and Teller to perform magic tricks with a Ford in the background, hoping to have some nice product placement in their ads. Nice work, Ford. Money well spent. Maybe you should partner with DreamWorks, while you’re in the business of entertaining people. But at least some of them are getting it right. Ready for the best part? The advertisers pay a one-time fee to get in, but after that they pay per download. This vindicates everything I believe about the advertising industry. The days of, “Take my word for it, this advertising campaign will work great,” are long gone. We are entering an age of shared risks and accountability for the correlation between ad dollars and gross sales.

So I had an idea that is already being implemented in another industry. We’ll see if ClearChannel decides to follow suit. Either way, I can’t take credit for the innovation because someone else already got there. I hate when that happens.