Forums » The Round Table: Brainstorming & Problem-solving

Unrecoverable Revenue

    • 93 posts
    August 10, 2019 8:14 PM PDT

    I write this after a visit with a friend in a tiny town that publishes a newspaper. While this is not radio, it is a problem we share. I call it 'unrecoverable revenue'. 

    In a nutshell, Family Dollar opened in her town about 6 months ago. She sees the UPS or Fed-Ex truck daily and lots of those Amazon boxes in the mail trucks. She says she is losing about 5% in advertising revenue annually. She reports sales tax share is off about 3% from the prior year something that remains somewhat predictable year after year. She is quick to point out businesses are not closing but the typical business has a few less dollars to spend each year. For her it's not about a paycheck running the town's tiny paper (4 pager). She does it to serve her town. 

    Looking at the station I'm working, I'm told the revenue is not what it once was. I realize national chains moved in and online shopping is an option for many shoppers. That station is in a small market and the only one serving about 60,000 that identify with the area. We're #1 in every demographic and daypart per Nielsen (when it becomes important to say so). We are well loved and universally known.

    I'm looking for ideas that make consumers want to consider buying locally. It seems 'buy local' has been said so much it has no teeth. I'm looking to put a bit of meat on the bone. I want consumers to understand how buying from a local merchant comes back to them in so many ways they do not recognize. We have a strong sense of community here.

    Thanks.

     

    • 89 posts
    August 16, 2019 6:10 AM PDT

    Bill -  I may have a solution that I'd be happy to discuss with you. 641-472-6708. jeffrey@hedquist.com