Being Number One Is Important to Your Bottom Line | radioinfo

Being Number One Is Important to Your Bottom Line

Monday 01 August, 2016

Selling Radio Direct with Pat Bryson

Zipf's Law. Ever heard of it? This natural phenomena is important to anyone who is selling a product.  Mr. Zipf found that "the", the most- used English word, occurred about twice as often as "of", the second most- used word, and about three times as often as "and", the third most used.

Zipf's Law also applies to the brand preference of consumers and their spending habits.  Marketers have long known that it is better to be Number One than Number Two, but you now can attach a revenue consequence to those positions.

Mr. Jan Hofmeyr, an expert on consumer behavior, conducted a market research study in Australia. He tested two product categories:toilet paper and instant coffee.

According to his model, consumers who used four brands of toilet paper would have been expected to spend 53% of their toilet paper budget on the top choice, 27% on the second brand and 13% on the third.  In this case, the consumers actually spent 50% on the top choice, 33% on the second and 9% on the third.

Zipf's Law clearly demonstrates the relative benefits of moving up in the rankings.  A product that leaps from second to first in a category can really affect the bottom line.  By determining a brand's ranking, you can predict market share.  Utilizing consistent marketing allows a brand to move up in market share. 

As we craft campaigns for our clients, we need to stress the need to utilize the radio recipe effectively: The right amount of repetition, used consistently over a long period of time, with a relevant message. 
 

About The Author 

Pat Bryson is the founder of Bryson Broadcasting International, a consulting firm that works with radio stations around the world to increase revenue by raising the skill level of their sales staffs. Her client list spans from the United States to Canada, Europe and Central Asia.

Pat has spent her entire career creating a culture of over-achievement for her stations. She began her career in radio sales, becoming one of the highest billing sales people in her market. Her career advanced to General Sales Manager, and then to Market Manager. Since starting BBI 7 years ago, she has helped hundreds of radio stations to find, train and grow great quality sales people and managers.

Pat was the recipient of two prestigious educational fellowships from the Educational Foundation of the National Association of Broadcasters: a fellowship to the Executive Development Program and a fellowship to the Broadcast Leadership Training Program.

She publishes the Bryson Broadcasting International Newsletter twice monthly and is a contributor to Valerie Geller's latest book, Beyond Powerful Radio: A Communicator's Guide To The Internet Age.

You may contact Pat at Pat@patbryson.com or visit her website at http://www.patbryson.com.

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