That is what she said
Problem:
That’s What SHE Said Sports was established by Nicole Monique in 2012. The radio program first started out as a podcast before moving to a low rated local AM station every Saturday afternoon. While on this station she had developed a fairly loyal listener base. From a business model standpoint, paid for air-time virtually equaled the revenue generated by ad sales and didn’t allow for the program to become more than a hobby. Wanting to turn That’s What SHE Said Sports into a business that would drive revenues far in excess of expenses, Nicole hired MESA Consulting to establish an effective sales program.
Solution:
That’s What SHE Said Sports provided several unique problems that all had to be addressed.
First, from a sales perspective, the current radio station was broadcast on a lower AM band that had no track-ability with regards to demographics. This station’s business model was to sell air time very cheaply and not promote at all. In order to demonstrate to a potential advertiser there was value in working with That’s What SHE Said Sports, the first order of business was to find an alternative station that cost more but had hard numbers which could be presented to potential advertisers. While this represented an increase in expense, the resulting increase in price charged for ad space would more than offset this increased cost. When all was said and done, the new station, a major player in the Atlanta market, offered an amazing contract that was only a minimal increase in expense but promoted That’s What SHE Said Sports heavily and afforded Nicole exclusivity with respect to Sports programs.
Second, The product itself had to be re-designed from a radio program that sold advertisements on the quarter hours to a program that incorporated advertisers as sponsors in an ad-vatorially based setting where their company was a back-drop to a sports story that tied back to the major sports story of the day. In fact, while traditional advertisements could still be purchased and sold at a different price point, That’s What SHE Said Sports offered them two for free as a value added service to clients who purchased the ad-vatorial block. MESA developed this product and the promotional material that went with it.
Third, to determine the price, MESA put together a progressively priced rate card that was used to determine the elasticity of demand about each price point. Prices were set at $250 and increased by $250 as each spot was sold to $2,500. Using a “Take-Away” close by letting advertisers see the price increase and then disappear as each spot was purchased, ad-vatorial buyers jumped on the lower priced positions and drove the price to $2,500 for a ten minute segment within one month.
Fourth, Sales training began. Nicole Monique, had terrific expertise in radio broadcast, sports and knowledge regarding how to entertain her audience. And while Nicole had experience in sales doing the demos for her sales team at her old company, she needed assistance with closing sales and cold calls for That’s What SHE Said. Utilizing personal coaching, structuring organization via CRM, role playing and direct sales assistance Nicole found herself so capable that within two week’s time she had sold two shows, had a pipeline of pending business and a list of prospective clients too large to call within a year's time.
The end result is that today, That’s What SHE Said Sports has an upward potential of gross receipts of $250,000 (2 spots at $2,500 @ 52 weeks per year) with expenses that run less than $50K. This is a far cry from barely breaking even for two years.
Testimonials
Nicole Monique, Proprietor That’s What SHE Said Sports: To be perfectly honest I was not exactly thrilled with George’s early assessment of my business model when he stated “If you don’t make a change you will lose your business and your dream.” That was tough to hear. I had to take a deep breath, swallow my pride and then move forward with the process. I also had to remember this was George’s job as a consultant at Mesa and this is what me and my husband agreed on to make TWSSSports successful. So I reminded myself of one of my favorite quotes “Do what you ’have’ to do so you can do what you ’want’ to do”. George helped me break out of my comfort zone and secure a position with a premier station whose statistics, demographics and design was capable of showing demonstrative results for potential advertisers.
He did work on re-designing my product to be an ad-vatorially based program using an advertiser as the backdrop for a sports story – local and national. I also taught George a few things about what to do and not to do in radio regarding the length of the ad-vatorial. George then showed me how to determine the pricing structure with a uniquely designed rate card.
This was definitely a learning experience for George and myself. He was used to working with larger companies; and I was used to doing my own thing. I believe George learned the added value of the small business owner while I learned the importance of stepping out and trusting someone who saw the value in what my business could do today and in the future.
Next, he walked me through sales fundamentals, organization and time management when it comes to revenue generation and has set me on a path for success.
It was a pleasure meeting and working with George. With his hands on approach I would strongly encourage anyone who wants (and needs) to give their company a boost to definitely call Mesa Consulting!