Thanks Busi for the support you provide for this forum.
In addition, here as follows;
Week 3: What are the best sources of revenue and how to diversify revenue?
In this week that we have just ended, we have primarily concentrated on Sources of Revenue and diversifying revenue sources. This was a build up from Week 2 where the emphasis was Audience / Listenership issues.
I want to thank the following;
• _Christian Maduka _
_• eko _
_• Emmanuel Asamoah _
_• Immaculate Leenat: _
_• Jaspher Okello _
_• Jovine Johansen _
_• Jovine_Johansen_Joel _
_• Laila _
_• Odongo Wendo Boniface _
_• Petronillah Simwenyi: _
_• Rehema Ndarige _
_• Sarah Mawerere _
• Hajji Kawenja
……………………………………for making a lively and informative debate about the subject.
Some of the issues you raised bordered on;
• Stiff competition:
I believe that competition is everywhere. In whatever business one is planning to engage in, competition shall come from the new entrants and the old alike. The Key to containing competition is to be “SMART” in whatever we do on air or in business. The beginning point is to answer and meet our listener’s needs. We cannot get to know the needs unless if we continuously interact with the listener in this case, then tailor make our programmes to meet that intrinsic need. The listener needs keep on shifting from time to time and therefore the reason we must keep a tab on what they need. Above all, we must meet this need in the best way possible better than anyone else on the market.
• Creativity in shorter programs
The issue of creativity in designing shorter program content has come to the fore as a result of the changes in technology. Listeners can reach any program content at will and in the shortest time and possible convenience. This liberty is sovereign however, we can cause each listener to super glue with our station if we meet their needs as stated above but also deliver the solution to their needs in the most effective way and manner. If it means digitalization of content, so may it be. The online versions of the program content have become preferable to some listeners because they can be accessed anytime even after the program has already gone off air. At the listeners leisure such content can always be accessed at will. The competing priorities in the listeners’ courtyard and life dictate that the easier the listener is able to get to us the more likely we shall retain them in our audience as a target. Keep it simple, relevant and easy to get your airwaves even if it means applying technological advances in your programming.
• Advertisers prefer minimal budget
The world we live in has changed and so are the economic times and challenges. Few resources chasing too many goods or wants and the resource envelope may not always meet each need and want.
Advertisers may also be experiencing such economic challenges necessitating that budget cuts become the order of the day.
As Radio owners we are challenged with the affordability of our products. This is in contrast with the prevailing competition as well. So we may need to cut our advert product offer according to the cloth of the advertiser. Can we have smaller but informative segments or slots for whatever that we offer?..Can we reduce the cost of production so that we ca also leverage on affordability of our services?..can we offer un-precedented service delivery and customer care to retain the few clients we have as well as our listeners? This way we shall attract both the big and small advertisers like MTN
• Station location Vs farmers location
Most community radio stations are located favorably near farmers in the regions that they serve. There is both physical and airwaves reach. We should take advantage of both to deliver what we deliver best. The closer the station us to her target audience farmers the better. But with airwaves crossing and extending further than the immediate community nearer the station, efforts must be made to develop listener clubs /associations and group memberships to effectively galvanize the body listenership into a meaningful value to deliver to potential advertisers and sponsors.
• Creatively generating Revenue in diversified efforts
Traditionally the program clock and station format would be what many stations rely on for revenue. However, the clock has been competed for by other stations in their numbers targeting the few advertisers and sponsors we all have. The Unique selling point for every station in this case determines the unique attractions to the potential advertiser. As the space becomes narrower to attract sponsors traditionally, the station MUST look into other creative ways. I mentioned some already. By the way, there is no harm in generating massive revenue elsewhere and part of it is used to support a farmers’ program at your community station. Some communities may not be economically viable for any advertiser to try and reach. But the station may have or should have that unique bit which could be used to tap into other non-traditional sources whether farmer oriented or otherwise. The bottom line is cash flow!!!
o Agricultural Exhibitions/Expos
_o Farmers Contests _
o Farming/Agriculture related competitions in schools, communities
_o Direct Product Promotions _
o Events like Farming Week in a Monthly , Quarterly, Yearly Manner
o Farmers Quiz ( Could be regional in Nature)
o Farming Demonstration Activity/Zone/Location
o Improved Farming Techniques and Extension Services-( The Radio Teams Up with Technical agencies to deliver this at a fee)
o Etc, etc
In all that we do, the Farmers’ involvement must be top priority. All that we do should be in the guidelines laid out in the Station’s advertising policies. Certainly, we cannot produce radio contents or out of studio activities that are repugnant to our station’s policy and regulations.
• To Have Presenters as Farmers
This position would be a desirable one. However, it is one aspect to have a a good presenter and another to have a good farmer. Many a good farmer would probably have no enough time to juggle farming and presenting because both require a lot of time and probably, good farming affords more freedoms and liberties that most likely presenting would never afford. Freedoms like “Financial Freedom”. However the miracle would be if it were possible to have both in the personality one man/woman. We can concentrate on having goods presenters that are farming oriented in some aspects then we could identify several good farmers whom such presenters could work with as resource persons for our different aspects of the farmer programs that we air.
Our programs should not only target practicing farmers but also bring about awareness in non-core farming sections of our communities like schools with or without Agriculture a component. This should serve to bolster interest in the increment and adoption of farming as a business. Similarly, teachers would also have opportunities to validate their Agriculture theories by getting opportunities to interface with farmers on ground via our community radios. The long and short of this would ensure sustainability of both interest and practice in the communities the radio serves near and beyond and thus the relevance of both the station and the farmer program….and the bottom-line translation should be KWACHA!!! Or USD!!!,……name it!