KPFT Pledge Drive - Redux
As some of you may know, I tried something new during this drive. I had been thinking specifically about KPFT's "premium" gifts: mugs, T-shirts, books, etc. I know that this form of gift is common in media non-profits, but it has always bothered me, because I have never perceived that there is much value in these "gifts." And like it or not, listeners are weighing a value equation: the value of the station + the value of the gift = the value of my pledge. Now, it's one thing for KPFT to ask listeners to calculate this equation once, maybe even twice, a year. But KPFT is now conducting three lengthy fund drives annually. It's a lot. It may be too much, and my read is that listeners, and programmers, are worn out.
So I thought: how can the value of the premium "gift" change? And of course the answer is to offer something of greater value. I came in to the station and told Duane Bradley that I had an idea to offer my own "day job" services: financial planning. Duane said ok, let's set a price, what do you usually charge. A lot, I told him. So we set $500. That first day, 12 people signed up at $500. Duane said this quantity of pledges at such a high level was unprecedented. The next week, Duane raised the price, citing market dynamics. The level dropped off a bit, but not much - 10 more people. I'm not sure raising the price is necessary or advisable. But other than that, I'd say the experiment was a success.
So much so, that I think KPFT needs to completely re-think how it raises money. I now believe that the station should allow local providers of goods and services to offer their wares during fund drives, mostly gratis, to the listening public in exchange for pledges. It's clear that people are going to purchase goods and services that they need: financial planning, massage, arts subscriptions, and on and on - why not have the consideration for these services accrue to the station. What does the provider get? Simple. Promotion. Advertising.
Now I know this is extremely controversial at KPFT. But to my mind, it's the best kind of advertising and it's in keeping with the goal of the station. Currently the station advertises during fund drive for all sorts of things: authors, publishers, and trinkets. Why not get rid of those things in favor of far more needed goods and services, and moreover, those which are offered in the local community.
My experience says that the station will raise far more money, listeners will pledge to receive goods and services that they actually need and value, and providers will get needed exposure in the community that they inhabit. I invite you to use the discussion board attached to this post for your ideas about this matter.
LEO GOLD
2 Comments
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References (9)
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Response: Premium Offer Let The Show Begin Leo[...] a the main or a major part of fund raising I think it will produce spotty result [...] -
Response: DpsEnivPThe New Capital Show - Leo Gold - Talk Radio - Home - KPFT Pledge Drive - Redux
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Response: Argan Oil Hair TreatmentThe New Capital Show - Leo Gold - Talk Radio - Home - KPFT Pledge Drive - Redux
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Response: PX3 Turtle BeachThe New Capital Show - Leo Gold - Talk Radio - Home - KPFT Pledge Drive - Redux
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Response: TravelPro Crew 8The New Capital Show - Leo Gold - Talk Radio - Home - KPFT Pledge Drive - Redux
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Response: AT PartnershipsThe New Capital Show - Leo Gold - Talk Radio - Home - KPFT Pledge Drive - Redux
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Response: AT PartnershipsThe New Capital Show - Leo Gold - Talk Radio - Home - KPFT Pledge Drive - Redux
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Response: AT PartnershipsThe New Capital Show - Leo Gold - Talk Radio - Home - KPFT Pledge Drive - Redux
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Response: french rouletteThe New Capital Show - Leo Gold - Talk Radio - Home - KPFT Pledge Drive - Redux
Reader Comments (2)
Those service premiums may not have been attractive on their own, or may have been attractive but not at the pledge level requested,or may simply have had a potential donor base too limited to respond in a big way...probably a combination of all three.
In your case, your particular service clearly doesn't have problems in these areas. I suspect for other shows it will be more difficult to find service offers with broad appeal and to nail down what pledge level is appropriate. As an additional revenue generator it's a great idea - trying to implement it a the main or a major part of fund raising I think it will produce spotty results.