TO BROADCAST MANAGEMENT, INC. The Lund Strategic Planner

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1 THE LUND CONSULTANTS TO BROADCAST MANAGEMENT, INC. 840 Hinckley Road, Suite 123 Burlingame, CA Fax The Lund Strategic Planner This guide was written by the Lund staff and contributors , The Lund Consultants to Broadcast Management, Inc., and Lund Media Research, 840 Hinckley Road, Suite 123, Burlingame, CA All rights reserved. This is a copyrighted document; reproduction and distribution is restricted. While we encourage utilization of document contents with staff members, you may not duplicate, distribute, fax or pages to others outside of your station. Contents or portions of this document may not be posted on a website, included in a newsletter, or reprinted in other media without written permission. Introduction The strategic plan is a step by step guide created by station management to map out how it will reach goals. Management then knows what will happen and staffers know what is expected of them. The plan outlines how the station will achieve a stated vision and how it serves listeners and customers consistently, effectively and profitably. It also serves as a systematic management tool for problem solving, market planning, product development and preparing business plans. The goal is to integrate all aspects of the business's activities in a mutually supportive system. Writing a detailed strategic plan helps set a course for a strong competitive advantage. Successful companies make deliberate choices to be unique in activities that they do best, and focus all of their energy in these areas. Your competitive advantage can be part of your mission statement.

2 The Lund Strategic Planner. Page 2 of 10. Many strategic plans contain several elements: Vision, Mission Statement, Strategies and Actions for Objectives, and a Schedule for Prioritized Implementation. Vision is a brief statement describing the direction and growth plans. The vision statement is often an inspirational, compelling direction for your station. The Mission Statement describes the important capabilities of the station, the format and customer needs. This states the purpose of the station. Strategies and Actions list the steps to implementation. A strategy is the definition of how the work will get done and by whom. A Schedule for Prioritized Implementation plots the critical success factor objectives and corresponding strategies and actions in order of importance. Identify station goals and strategies. Goals should be specific, measurable, realistic and timely. Consider strategic goals that must be achieved to address specific issues and needs. They should be forward-looking. Associate strategies with each goal. Be sure goals and strategies are closely aligned with your station s mission, vision and values. Create an action plan with objectives, responsibilities, and timelines. Action plans specify how the strategic goals and strategies will be carried out and often include various objectives to be reached while achieving each goal, who is responsible for achieving each objective and by when. A mission statement details your station s purpose. Erica Olsen of M3Planning says it typically states your station s format, the audience it serves, and why the programming has an advantage over competitors. The mission statement often includes a strategic vision, the direction the station is headed, the listener and customer focus it should have, the market position it tries to occupy, and the capabilities it plans to develop. Forming a strategic vision involves a sense of purposeful action and where the station will be in five years.

3 The Lund Strategic Planner. Page 3 of 10. SWOT. Creating a plan requires taking inventory of your assets and those of competitors. The SWOT (Strengths, Weaknesses, Opportunities, and Threats) analysis helps you look critically at your station and head-on competitors. It helps match your station s strengths and its opportunities. Consider what you do best, your resources and people, and station capabilities. Beyond programming, your strategic plan may profile your client s needs. Thus, develop a customer profile needs, motivations, and characteristics. How can you grow your customer base? Write goals and objectives. These get you to your mission and vision. Realistic goals and objectives are developed from the SWOT analysis and customer profile. Objectives set the agenda, and are typically broad in nature you should list several. Then, develop goals to achieve each objective. Goals should be measurable and quantifiable, and must support your objectives. Goals and objectives build on your strengths, shore up weaknesses, capitalize on opportunities, and recognize threats. Assess your resources. The biggest challenges in strategic plans are time and money. Prioritize goals and consider funding and human resources to achieve your plan. Tactics set specific actions that lead to implementing goals and objectives. Write a to-do list for each goal. Consider roadblocks to achieving each and develop action items. Assign responsibilities and deadlines to ensure implementation. Track your progress on a monthly basis. A winning strategic plan must be supported with people, money, time, systems, and communication. Communicate the plan to everyone in your organization. Hold frequent strategy meetings to report on the progress toward achieving the goal.

4 The Lund Strategic Planner. Page 4 of 10. This Strategic Planner benefits management with strategic goals and tactical planning (execution). It establishes goals, actions and procedures, and helps determine future needs. The strategic process states where the station is today and where it should be. This planner lists opportunities and threats, and sets a specific direction with objectives and the strategies to achieve them. Mission Statement. Write the mission of the radio station and the overall objectives. These are the facts what the station is now and where it should go. (Example: Increase cume and TSL; be #1 in a specific demo or format.) Strategy states the big picture of what must be achieved, including strategic goals for targeting, positioning, signal, audience sharing, rating/revenue goals for promotions, and track competitive differences and marketing efforts. Tactics are the individual methods/steps that are utilized to implement the strategy. To aid tactical planning, identify past and future events, activities, and promotions, detail contests and marketing, and create a cost analysis & accomplishment recap. Mission Statement The Mission Statement or "position" of the station includes the objective, and an overview of programming, formatics, marketing and promotions, and sales philosophy. The mission statement stimulates thinking, defines responsibilities, coordinates efforts, and unifies the staff to work toward specific, attainable goals. The station's direction and purpose include the demographic (the target audience), programming designed to attract and entertain this target (especially Music), promotional involvement (Marketing), the role of talents (Mornings), community involvement, and listener benefits (how is the station different from competitors?). In addition to Music, Marketing and Mornings, list immediate goals/concerns for the rating period. Track competitive changes using the Lund State of the Station survey. Mission & Objectives:

5 The Lund Strategic Planner. Page 5 of 10. Strategic Goals Strategic goals include identifying the target audience (demographics, gender, etc.) to which the station markets its programming product. The strategic plan identifies radio needs of this target group. Super-serving this audience requires exemplary programming that garners high ratings. Targeting Desired primary demographic: Secondary demographic: Desired listener profile: Format niche & brand ownership: Your Marketing Goals Cume growth Expand TSL Enhance image Generate sales Other: Positioning Primary positioning statement: Is it unique? Yes No Is it credible? Yes No Is it beneficial? Yes No Secondary positioning (if any): Primary competitor positioning: Is it unique? Yes No Is it credible? Yes No Is it beneficial? Yes No Secondary competitor positioning:

6 The Lund Strategic Planner. Page 6 of 10. Signal: Metro counties or areas not well served: 1) 2) 3) Which of these areas are covered better by the competition? 1) 2) 3) Audience Sharing: Primary competitor: Secondary competitors ranked in order: 1) 2) 3) Competitive Profile: Primary Competitor Station Name/Dial Position: Date: Format: Target: Imaging: Sound Good? Y N Jingles: Y N Slogan: Is it Unique, Credible, and Beneficial? Y N Marketing Strategy: External Media: Book Contests: Y N Names/Prize(s): Details: Website: Is contest promoted on website? Y N Is website interactive? Y N www. Has site been updated today? Y N And this week? Y N

7 The Lund Strategic Planner. Page 7 of 10. Music: Describe: Ratio of Currents Recurrents Gold by hour/daypart: Number of Currents: RC s How old is the Gold? Talents: (Provide names) (Note if talent is Voice Tracked or Live, whether shift is automated or network provided.) AM - VT/Live/Auto/Net EVE - VT/Live/Auto/Net MD - VT/Live/Auto/Net WKND - VT/Live/Auto/Net PM - VT/Live/Auto/Net WKND - VT/Live/Auto/Net Syndicated Shows: Rating Successes: Demos/gender, metro area/county: Flaws: Competitive opportunities: According to Arbitron or the station s own perceptual research: What are the competitor s discernable differences? What does this station offer (real or perceived) that distances it from you? How can these perceptions be changed? The SWOT Evaluation Grid SWOT Your Station Your Competitor Strengths Weaknesses Opportunitie s Threats Action Items:

8 The Lund Strategic Planner. Page 8 of 10. Competitive Review Who is your station s chief competitor and what makes that station different from yours? What ARE they doing over there this week to challenge you for listeners? Use the SWOT table above to list the strengths and weaknesses of your station and your headon competitor. Also, consider these questions for your competitive review: Music. How does it sound? Compare their mix of current-recurrent-gold, as well as their clocks, rotations, and dayparting, to yours. Mornings. How s their morning show compared to yours? Which talent creates the most talk? Who is strongest with longevity and entertainment value; who is the most fun? Marketing. What kind of mass or stealth marketing are they conducting to garner cume? Consider their external media advertising (TV, outdoor, direct mail, telemarketing, etc.) in terms of impact and dollars spent. Budgeting. Is your ad spending comparable? Who gets the biggest bang for the investment? Visibility. Who owns the streets with the greatest one-on-one impact in the market? Contests. How s their big contest compared to yours in terms of prizes, promotional sizzle, production, winners, and freshness? Basics. How do their production and formatics compare to yours? How do their liners, talent execution, and formatic basics sound? Perceived #1. What station truly sounds like the market winner and sizzles with excitement? Market Changes. What competitive programming changes will impact your station or position? Is a counter-attack planned? Do you need to respond? Adjustments. What changes are needed in your strategic plan? What innovations will contribute to your going the extra mile to win audience in the ratings sweep? List suggested changes to improve the station in light of competitive changes:

9 The Lund Strategic Planner. Page 9 of 10. Tactical Planning Tactical planning takes the defined goals of the strategic plan and develops operational methods and execution activities to reach specific goals. Consider including the following information in your Strategic Plan: Part 1: Historic Overview The station s Marketing Plan should detail Promotional Opportunities. List annual and seasonal events in the market, along with major and secondary promotions conducted by the station. Annual & Seasonal Events Consider promotions conducted in the market, regionally and nationally. Note station sponsorships or involvement for each promotion and holiday event. Of the events not covered by the station, consider station demos and audience interest. Also, list topical events of which the station (and talents) should be aware, which may include: 1. Returning TV season or co-promotion with hot TV show 2. This year s hottest car (Motor Trend, etc.) 3. Biggest new movie release 4. Hot new local restaurant or club 5. Relevant new websites for the target audience 6. Popular recording group 7. The Big Event for the season, and the months that follow Past Station Promotions Going back one year, list all promotions and contests by date and include the following information: Specific sales or promotion (name) TSL-Cume-Sales attributes Promotional strengths Promotional weaknesses Number of persons impacted Assessment (and how to do it better next time) Promised to stage this again, and when? What major promotions were conducted by other stations that have merit for our consideration? What are our annual promotions; why are they so good?

10 The Lund Strategic Planner. Page 10 of 10. Part 2: Planned Programming and Sales Promotions In chronological order, list each promotion and contest by date with this information: Promotion or contest name Description, including opportunities Demographic and gender target Cume-TSL-Sales attributes: Cume builder TSL Revenue Promotional strengths & weaknesses If an appearance or event, number of persons directly impacted Promotional degree Is this a major, secondary, or seasonal promotion? Include personal appearances, morning show stunts, and other actions Part 3: Marketing External Marketing: List all media (with budget) planned to expose the programming product to new listeners. Indicate demos, gender, metro area region, and media. Internal Marketing: Provide details about imaging, liners, promotions, and contests. Part 4: Cost Analysis Summarize promotions, contests, and marketing planned, including dates, budgeted costs and estimated revenue. (Show non-cash or bartered expenses in parenthesis.) Part 5: Accomplishments Recap promotions conducted through the period. List the following for each promotion: Sales and programming notations Suggested enhancements if conducted again Revenue highlights (if any) Costs (if any) Ratings improvement (or loss) in terms of cume, TSL, etc. Also list promotions that were planned but not conducted, and the reason why the promotion was aborted, changed, or rescheduled. Summarize sales and costs for each promotion, and provide a total. All Rights Reserved Worldwide under the Berne Convention for the Protection of Literary and Artistic Works. No part of this publication may be reproduced or transmitted in any form or by any means, mechanical or electronic, including photocopying and recording, or by any information storage and retrieval system, without permission in writing from the author publisher. The Lund Strategic Planner, , all rights reserved