(SERIES: TAMING THE TWO HEADED BIZ MONSTER) - WK4: WHAT WE LEARNED FROM STARTING ON THE EGG FIRST - DONNA KUNDE & WILLIAM EASTMAN
Let me start with an insight that was not apparent when we started broadcasting last April and soliciting for Hosts.
"we guide action to increase self-confidence by proving the client's self-worth"
I'll get back to the quote during our four segments - just keep it in mind. We started in week 2 dealing with the chicken - supply or hosts in our business model. Last week we discussed the egg - demand or listeners. At the conclusion of last weeks show we stated that our mistake was not treating hosts as clients.
We will start here.
EPISODE 13: Creating The Demand Offer
We started from a very logical position. The founders and executive team are serial entrepreneurs and built an offer that fit our needs. We know, as well as you do, that the secret to marketing in today's marketplace is content creation. So we took the medium of radio to help provide thought leadership, something that could be used in the sales process. Each show is recorded providing a podcast from each show and the creation of marketing collateral. Presto - everything was there to incorporate into current marketing efforts. So why didn't it work?
EPISODE 14: Making The Host Offer Free
Why Were We Not Getting Traction With Hosts and Their Base of Customers?
As we were monitoring listener traction per show we found that there was no real difference. Our marketing efforts was increasing listenership BUT if each host went to all of their social media connections there was no reason we didn't see a spike in listenership. It wasn't happening.
EPISODE 15: The Problem of Monetizing The Offer - Step 1
The obvious answer to this question was to ask. However, the internal team starting and growing IBGR were consumed with all of the tasks of building a global network. This issue didn't become obvious until after 12 months of broadcasting and 6 months of communicating that Season 5 would be for fee, we lost 50% of our hosts. BTW - the fee structure was 1/4 the costs of being on a terrestrial station with limited reach.
EPISODE 16: Treating Supply As Demand - Step 2
Remember the opening quote of "we guide action to increase self-confidence by proving the clients self-worth". This was in general terms the answer to the question. As stated earlier our Hosts were looking for help in marketing their offer and didn't know how to use the new materials.
As much as we didn't want to invest into this function, it became obvious that our success of providing help to 375 million global business owners required us hinged on the addition to our offer.
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