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Planning Your 2023 Sales Budget

The bottom line is that most salespeople will be handed a 2023 budget that includes an increase from 2022.

Jeff Caves

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Sales Budget

It’s the most wonderful time of the year! No, not college football season or the holidays but the annual sales budget forecast season. Around this time every year, the financial gurus at your company are cranking out the 2023 budget. And salespeople are a big part of that.

Last year’s budgeting process was rough with the uncertainties of the pandemic’s effect on the economy. I watched a RAB seminar on budgeting featuring the Audacy VP of Finance and wrote about it here. One of the seminar’s themes was how unreliable sales figures could be passed on from salespeople. It is hard to project what some clients will do and often even harder to ask lest they tell you they are thinking of canceling or cutting back. Nobody likes to hear bad news. Read on for some better news and tips to find 2023 business. 

The bottom line is that most salespeople will be handed a 2023 budget that includes an increase from 2022. Most radio groups will scan BIA, Kagan, Miller Kaplan, or RAB forecasts for 2023 and apply that number to your budgets. They hope to see numbers back from us that meet them in the middle, at least. As of September 2022, Kagan forecasts a 3% increase in local spot ad radio revenue, a 4.8% increase in digital, and 3% in off-air revenue like live events. And here is a warning for you if you sell in Dallas, Seattle, Salt Lake, Boise, or Atlanta: you sell in a Top 5 fastest growing markets through 2027, so the heat is on! Kagan is also projecting that the national spot business will continue to decline due to streaming and podcasting. So, if “it’s to be in ’23, it’s up to me,” the local seller said. If you haven’t done so, ensure you continue developing your automotive, travel, entertainment, and retail clients, as they are our bread-and-butter spenders.

Show them the comparison statistics about how radio has a lower ad cost than other media with a higher return on investment and how our audiences are local and can be easily reached to buy from a local brand or storefront. Be sure to stay in front of emerging categories like online gambling if it is legal in your state, and get your hotels, resorts, amusement parks, and health clubs primed for potential increases in 2023.

Inflation and the pandemic have hurt these categories, and if inflation calms down, they could have some pent-up demand. Any industry, like automotive specifically, in which supply chain issues have hit needs to be monitored and can be great conversation starters for you with your clients. And my podcast dropping Monday, 10/17, features Jeanne Marie Condo, the President of Network Partnerships and CRO of Skyview Networks, who discusses two emerging industries she has focused on” Recruiting firms and pharmaceutical advertisers. Both those categories are spending money on sports and play-by-play. Pharmaceutical companies are spending more on marketing and sales than research. Contact the largest employers in your area to see if they want to purchase some digital or over-the-air recruitment ads in 2023. And, since the hiring challenges will continue, make sure you pencil yourself in for at least a 4.1% raise in your 2023 income projections. Everybody else will be getting one. Plan on!

Barrett Blogs

BSM’s Black Friday SALE on BSM Summit Tickets is Underway!

Jason Barrett

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Each year I’m asked if there are ways to save money on tickets to the 2023 BSM Summit. I always answer yes but not everyone takes advantage of it. For those interested in doing so, here’s your shot.

For TODAY ONLY, individual tickets to the 2023 BSM Summit are reduced by $50.00. Two ticket and four ticket packages are also lowered at $50 per ticket. To secure your seat at a discounted price, just log on to BSMSummit.com. This sale ends tonight at 11:59pm ET.

If you’re flying to Los Angeles for the event, be sure to reserve your hotel room. Our hotel partner this year is the USC Hotel. It’s walking distance of our venue. Full details on hotel rooms can also be found via the conference website.

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BSM Podcast

Media Noise: What Does The Return of Bob Iger Mean to ESPN?

Demetri Ravanos

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Demetri Ravanos has questions about Disney going back to the future with Bob Iger. This entire episode of Media Noise is all about what the change at the top of the Walt Disney Company indicates about the future of ESPN.

ITunes: https://buff.ly/3PjJWpO

Spotify: https://buff.ly/3AVwa90

iHeart: https://buff.ly/3cbINCp

Google: https://buff.ly/3PbgHWx

Amazon: https://buff.ly/3cbIOpX

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Barrett Blogs

Mina Kimes, Bruce Gilbert, Mitch Rosen, and Stacey Kauffman Join the 2023 BSM Summit

“By the time we get to March, we should have somewhere between 40-60 participants involved in the conference.”

Jason Barrett

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The 2023 BSM Summit is returning to Los Angeles on March 21-22, 2023, live from the Founders Club at the Galen Center at the campus of the University of Southern California. Information on tickets and hotel rooms can be found at BSMSummit.com.

We’ve previously announced sixteen participants for our upcoming show, and I’m excited today to confirm the additions of four more more smart, successful professionals to be part of the event. Before I do that, I’d like to thank The Volume for signing on as our Badge sponsor, the Motor Racing Network for securing the gift bag sponsorship, and Bonneville International for coming on board as a Session sponsor. We do have some opportunities available but things are moving fast this year, so if you’re interested in being involved, email Stephanie Eads at Sales@BarrettSportsMedia.com.

Now let’s talk about a few of the speaker additions for the show.

First, I am thrilled to welcome ESPN’s Mina Kimes to the Summit for her first appearance. Mina and I had the pleasure recently of connecting on a podcast (go listen to it) and I’ve been a fan of her work for years. Her intellect, wit, football acumen, and likeability have served her well on television, podcasts, and in print. She’s excelled as an analyst on NFL Live and Rams preseason football games, as a former host of the ESPN Daily podcast, and her appearances on Around The Horn and previously on Highly Questionable and the Dan Le Batard Show were always entertaining. I’m looking forward to having Mina join FS1’s Joy Taylor and ESPN LA 710 PD Amanda Brown for an insightful conversation about the industry.

Next is another newcomer. I’m looking forward to having Audacy San Francisco and Sacramento Regional Vice President Stacey Kauffman in the building for our 2023 show. In addition to overseeing a number of music brands, Stacey also oversees a dominant news/talk outlet, and two sports radio brands. Among them are my former station 95.7 The Game in San Francisco, and ESPN 1320 in Sacramento. I’m looking forward to having her participate in our GM panel with Good Karma’s Sam Pines, iHeart’s Don Martin, and led by Bonneville’s Executive Vice President Scott Sutherland.

From there, it’s time to welcome back two of the sharpest sports radio minds in the business. Bruce Gilbert is the SVP of Sports for Westwood One and Cumulus Media. He’s seen and done it all on the local and national level and anytime he’s in the room to share his programming knowledge with attendees, everyone leaves the room smarter. I’m anticipating another great conversation on the state of sports radio, which FOX Sports Radio VP of programming Scott Shapiro will be a part of.

Another student of the game and one of the top programmers in the format today is 670 The Score in Chicago PD, Mitch Rosen. The former Mark Chernoff Award recipient and recently appointed VP of the BetQL Network juggles managing a top 3 market sports brand while being charged with moving an emerging sports betting network forward. Count on Mr. Rosen to offer his insights and opinions during another of our branding and programming discussions.

By the time we get to March, we should have somewhere between 40-60 participants involved in the conference. My focus now is on finalizing our business and digital sessions, research, tech and sports betting panels, securing our locations and sponsorships for the After Party and Kickoff Party, plus working out the details for a few high-profile executive appearances and a couple of surprises.

For those looking to attend and save a few dollars on tickets, we’ll be holding a special Black Friday Sale this Friday November 25th. Just log on to BSMSummit.com that day to save $50 on individual tickets. In addition, thanks to the generosity of voice talent extraordinaire Steve Kamer, we’ll be giving away 10 tickets leading up to the conference. Stay tuned for details on the giveaway in the months ahead.

Still to come is an announcement about our special ticket rate for college students looking to attend the show and learn. We also do an annual contest for college kids to attend the event for free which I’m hoping to have ready in the next few weeks. It’s also likely we’ll give away a few tickets to industry professionals leading up to Christmas, so keep an eye out.

If you work in the sports media industry and value making connections, celebrating those who create an impact, and learning about the business from folks who have experienced success, failure, and everything in between, the Summit is worth your time. I’m excited to have Mina, Bruce, Mitch and Stacey join us for the show, and look forward to spending a few days with the industry’s best and brightest this March! Hope to see you there.

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Barrett Media Writers

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