Would you like to lose $863 million in 365 short days? Too much? How about $667 million? Is that a bit more palatable?
In her article “Satellite radio runs into static,” Sarah McBride of “The Wall Street Journal” writes those numbers represent what satellite radio providers Sirius Satellite Radio and XM Satellite Radio lost respectively in 2005.
It’s proof positive that piles of money don’t buy business or marketing effectiveness.
Are You Sirius?
In his article, “Satellite Radio: Seriously, Folks, Are XM and Sirius Serious?” Denny Hatch of Target Marketing Group lays out more effective direct marketing tactics for these providers. About their Web sites, he writes, “Go to the Sirius or XM Web site, and you’ll find a lot of ‘it’ copy — radios, discounts, accessories, how to order, schedules and personalities, but not one single benefit of subscribing.”
Hatch doesn’t claim to be an expert in online persuasion, but he’s absolutely correct.
Satellite Radio Personas
As an experiment, I had one of my persuasion architects write up two very simple profiles (not quite full personas as neither Sirius nor XM is a client). These entry-level profiles may represent a couple of typical market segments for satellite radio: