Kx 93.5 Case Study
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Transcript of Kx 93.5 Case Study
KX 93.5
Max Stohler, Nicole Haynes, Seth Edwards, Tuyen Dinh, Taylor Gray,
Steven James King
LAGUNA’S ONLY FM
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deck overview Background …………..3Situation Analysis …....4Competition ……….....6Demographics ….....…7Target Market ……..…9
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Objectives ……...…10Budget …………….11Strategy ………...…14Metrics …………....20Conclusion …….....21
backgroundMission StatementTo connect Laguna Beach and worldwide listeners with an open-door policy that allows the exposure of “Generational Alt Rock” musicians, non-profits, and community causes.
VisionLocally focused FM radio is vital to a community.
Value Statements● We believe our audience can be connected through a local radio station that immerses itself into the arts, culture, events,
and music of a community.● We believe talented, under-recognized musicians deserve exposure, and we strive to be a resource for them.● We believe that our audience is witty, intelligent, and sophisticated in their musical taste. We aim to entertain at a level
that exceeds that of commercial radio.● Responsiveness, availability, and communication are a priority for our staff and volunteers● We are dedicated to developing the talents of on-air hosts, student interns, and special needs volunteers.● We strive to bring people together through real-time, live announcing about local news, weather, traffic, and emergency
preparedness. 3
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Strengths➔ Limited competition as the only FM radio
station in Laguna Beach➔ Commercial free: attractive listening➔ Involved in community events➔ Unique, upcoming musicians➔ Membership opportunity➔ Online presence
Weaknesses➔ Commercial free: no revenue from ads➔ Weak membership base➔ Young, unknown company/startup➔ Appeals to younger crowd rather than the majority
of Laguna➔ Manpower to “sell”/admin➔ Value proposition for advertisers without listener
metrics & results➔ Value proposition for members more clearly
targeted/articulated
situation analysis - internal
situation analysis - external
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Opportunities➔ Strengthen membership base ➔ Outreach to past advertisers➔ Product line expansion to appeal to
broader tastes➔ Build awareness of online presence
Threats➔ Satellite/Internet radio domination➔ Potential expansion of larger radio
stations into Laguna Beach➔ Economic downturn
competition
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➔ Pandora, Spotify, Soundcloud, Itunes Radio, and, of course, conventional radio
➔ So how can we get more people to listen to KX 93.5?
demographicsLaguna Beach
Laguna Niguel
Laguna Beach
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demographicsLaguna locals are…
➔ Hip, artistic, rich, relaxed, eccentric.➔ Willing to spend money or donate it to the arts.➔ Passionate about local causes and social actions.➔ Appreciate higher quality activities and events.➔ Appreciative of appearance and lifestyle.➔ Older in age, in part, due to valuable real estate.
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target marketMembers/Donators: men and women ages 35 to 74 in Laguna Beach.
Listeners/Supporters: college-age young adults, ages 25 to 34 who are interested in “Laguna culture” ie. art, crafts, wine, and other finer things.
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objectives➔ To increase awareness of KX 93.5 throughout
Laguna Beach by 15% by the end of 2016.➔ To increase the amount of listeners of KX 93.5 by
15% by the end of 2016.➔ To increase members and donors to KX 93.5 by
20% by the end of 2016.
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budget
8% of 2015 projected budget…………….$34,951.
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kx 93.5 overview
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content
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KX 93.5
“npr”
transparent, progressive news
diverse,cultural stories
trendy, quality, contemporary music, unique to KX 93.5
“The KX 93.5 listener is cultured, upper-class, articulated, progressive, & open-minded.”
local, artistic, cultural, “higher-end”events
community interaction
the event“The Laguna Lagoon”
Mini-objectives:1. Spread awareness of KX 93.5 by having an exciting & popular event that will draw target audience & promote the station among the community (3000 people who know about KX 93.5)
2. Increase listeners by showcasing/sampling quality target market content i.e. live music, culture, personalities, identity (390 new listeners)
3. Acquire donations & memberships by having a prominent KX 93.5 presence at the event for recruiting & preferred ticket packages (over $100,000)
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the event“The Laguna Lagoon”
Timing & location:
July-August: Pageant of the Masters, Sawdust Festival, tourism, people on vacation, out of school, Summer celebration vibe, etc.
Laguna Festival of Arts Irvine Bowl:2,600 people capacity, “scenic” with food/beverage installations, hospitality, parking, load-in for bands, sound system, production, etc.
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the event“The Laguna Lagoon”
Budget & logistics:1. House: venue, event mgmt/staff, insurance, permit, setup, crew $20,000 w/volunteers2. Live music: main act “deal” $50,000, other bands support cause receive exposure3. Art & culture: local artists receive exposure and sales space4. Food & beverage: local business keep all of their on premise profits plus gain exposure5. Promotion: mostly “grass roots,” volunteers, and online advertising $10,000
Revenue:1. Tickets: $45 (gen. seating) $175 (pref. seating, free close parking) $500 (+ meet mid-level bands + merch) $1000 (+ lim. backstage access) total ticket rev. $ [2600: 2230 | 200 | 100 | 20 ] = $205,350
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toolsMembershipFocusing on the social value and “charitable” qualities of KX 93.5, member support is crucial and viable for cash flow.
➔ $45 exclusive access to online content, live “in the studio,” DJ mixes + more
➔ $100 + entered to win free tickets to a local concert
➔ $500 + box set of DJ 10 favorite new albums
➔ $750 + 2 free general admission tickets to next “event” ie. “Laguna Lagoon”
➔ $1000 + opportunity to DJ for a night
➔ $2500 + 2 passes to an extremely exclusive “Neil Young-style” house party 17
tools ●App Redesign○ Make it more interactive
○ Add an option to request a song
○ Add a support/donate button
○ Polls
●YouTube live streaming○ Stream bands that come in
○ In-studio performances
○ Interviews with bands18
metrics & measurement1. Increase awareness of KX 93.5 throughout Laguna Beach by 15% by
the end of 2016Use “soundscan-like” media tracking to track listener data along with App metrics & web analytics (i.e. social media ‘likes’ and ‘follows’ as a metric). If desired, online or in person surveys can be carried out.
2. Increase members and donors to KX 93.5 by 20% by the end of 2016 Financial assessment and CRM database tracking of donor activity.
3. Increase the amount of listeners of KX 93.5 by 15% by the end of 2016Use “soundscan-like” media tracking to track listener data along with App metrics.
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closing●The biggest competition right now is internet and satellite radio, so
emphasize using the app to stream the show anywhere you go
●Going global is not a realistic goal as of right now
●Use campaigns/giveaways to generate awareness
●Utilize “Laguna Lagoon” as the main event
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