Entercom Reveals New Sales Practices & Audience Analytics
Entercom continues to roll-out new formats and initiatives upon the closing of the CBS Radio merger.
The company has announced a few sales strategies with the goal of providing greater value for advertisers and improving the listener experience. The moves are a 5% cut across the board in commercial inventory across Entercom stations, eliminating cash infusion advertising deals, and eliminating future sales to spot resellers.
They then followed up with the launch of “Entercom Audience Analytics” taking a product that had been used by CBS Radio and is being tweaked for the company. The service is described as “a tool to offer advertisers unique data and analytic insights designed to optimize their advertising campaigns and improve return on investment” in partnership with AnalyticOwl.
Entercom Communications Corp. (NYSE: ETM) today announced it will implement three new business policies which better reflect Radio’s strong value proposition as America’s #1 reach medium and Entercom’s position as the leading provider of live, original, local audio content. These policies will enable the Company to provide greater value for advertisers while improving the listener experience.
Consistent with Entercom’s culture of continuous improvement, the Company announced plans to:
· Reduce commercial advertising inventory by 5% in order to improve the listener experience and increase the entertainment to ad ratio for Entercom’s advertising partners.
· Prohibit cash infusion advertising deals which the Company views as a poor business practice and inconsistent with its strategic goals.
· Eliminate future sales of advertising with spot resellers which like cash infusion deals, the Company views as a poor business practice and inconsistent with its strategic goals.
“With our enhanced platform and scale, Entercom is committed to evolving our business practices for the benefit of Entercom’s listeners and advertising partners,” said Weezie Kramer, Entercom’s Chief Operating Officer.
Entercom Communications Corp. (NYSE: ETM) today announced the launch of Entercom Audience Analytics, a tool to offer advertisers unique data and analytic insights designed to optimize their advertising campaigns and improve return on investment. The enhanced analytics capability is powered by an exclusive partnership in Entercom markets with AnalyticOwl, a broadcast analytics platform used to measure effectiveness and audience response of radio advertising.
Entercom Audience Analytics tracks and quantifies the impact of on-air advertising campaigns on web conversions and online lift. Armed with this data, Entercom can provide its clients with advanced analytic insights regarding the advertising copy, airtime, and offers that resonate most with listeners. As a result, advertisers can identify opportunities to optimize spend, creative and placement during campaigns in nearly real time to maximize the return on their investment.
“As the number one reach medium in the United States delivering outstanding ROI to customers, Radio is an optimal medium for advertisers to reach their targeted audiences, and Entercom Audience Analytics further enhances our value to our clients,” said David Field, Entercom’s President and Chief Executive Officer.
“Entercom Audience Analytics will enable us to develop a more consultative relationship with our advertising partners and more effectively measure and validate the important role of Radio in the consumers’ path to purchase,” said Bob Philips, Entercom’s Chief Revenue Officer. “This is a tremendous step toward improving campaign effectiveness and ROI for our advertisers.”
Entercom Audience Analytics is an expansion of a preexisting CBS Radio property that will be enhanced and rolled out throughout the entire Entercom footprint. This is part of Entercom’s strategy to invest in growth and to adapt best practices from both companies to deliver a best-in-class capabilities to advertisers and partners.