BRX Pro Tip: Low Cost No Cost Methods for Testing Your Market Transcript
Stone Payton: [00:00:01] And we are back with Business RadioX Pro Tips. Lee Kantor and Stone Payton here with you. Lee, let’s talk a little bit about some low-cost, no-cost methods for testing the market for either a show or a Business RadioX studio?
Lee Kantor: [00:00:17] All right. Well, let’s start with kind of a show. If I wanted to see if a certain show had potential, I would want that person or me, if I was the one looking, I would go out to the marketplace and ask for interesting guests. I would try to maybe make a landing page or some sort of page where I can collect and socialize and say, “Hey, anybody, I’m starting this new show. It’s about this subject. And if you know anybody that would be a good guest, you know, have them go to this page, and sign up, and get on our waiting list for this—when the show launches. These will be where we’ll pull the initial guests.” So, I would definitely try to socialize that concept of interesting guest.
Lee Kantor: [00:00:59] I would also want to know what are some of the associations that serve that group, and I would contact them to see if they would want to be part of the show to see if this is something of interest. “Hey, I’m thinking about doing a show about this topic. I know that your association serves that industry, Would your leadership like to come on that show and talk about what you guys are up to?”
Stone Payton: [00:01:20] Interesting, because I think I would use the exact same strategy when it came to testing the market viability for a Business RadioX studio. The only thing I would do differently maybe is I would test different show concepts out of the marketplace. So, to some people, I might say, “Hey, me and my company, my operation, we’re thinking about underwriting a show to spotlight local business leaders. Does anyone come to mind that you think we ought to reach out to interview on that show?”
Stone Payton: [00:01:47] But then, I might also, in that same day or with a little different constituency, say, “Yeah, it looks like we’re going to be underwriting a show focused on women in business. You know, do you know some really powerful women doing some interesting things that could tell some compelling stories?” And I might try that with a variety of different, you know, like smaller subsets of the larger ecosystem, because I know each of those subsets, whether it’s technology, whether it’s women, whether the topic is diversity or software, whatever, those are all potential revenue streams. And I can get a real—I can get a good temperature reading, I think, on interest in those topic areas and viability for not just a show but a whole suite of shows, i.e. a studio.
Lee Kantor: [00:02:34] And then another thing, I would add, if I was looking to open a studio, I would go to all the co-working spaces, the incubators, maybe some of the large businesses and say, “Hey, I’m thinking of opening a Business RadioX studio. Would you be open to us having it here and giving us free rent for six months or twelve months, so I can test it? And in exchange, I’ll give you a free show and I’ll spotlight your members,” or something like that because if I got free rent and I knew that there was a bunch of people that want to be on my show, it becomes kind of a no-brainer situation to open the studio.
Stone Payton: [00:03:10] Amen