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Underwriting - DOC

VIEWS: 189 PAGES: 13

									Underwriting Program Manual

Producers
Dear ISUtv Underwriting Coordinator:

Underwriting Overview
Underwriting by definition of Iowa State University is “non-commercial representation of financial programming sponsorship.” Funding through selling promotional advertisements on public broadcasting stations as well as ISUtv is not allowed. Nonprofit stations are able to receive funding through on-air underwriting, but policies and guidelines regulated by The Federal Communications Commission (FCC) puts limitations to the possibilities. According to the FCC’s requirements, “the purpose served by underwriting credits is to identify the funder in the interests of full disclosure, not to promote the funder or its products and services. At the same time, however, the FCC has indicated that it will rely on the good faith determinations of public broadcasters in interpreting the FCC's noncommercialization guidelines” (PBS.org). Underwriting in compliance with the FCC’s guidelines could reveal the following information:      Name Location Non-promotional logos and slogans Neutral description of products and services Generic product lines or target market (up to three)

To circumvent promotional underwriting, refrain from the use of a call to action, competitive product comparison, qualitative claims, stating product or service prices, specials, and guarantees. Also, avoid various “words and phrases that the FCC has found unacceptable…[such as:] Efficient, Economical, Dedicated, Prompt, Fair price, Reliable, Excellent, Leading, Luxury, Quick, Clear, Delightful, Honest, Number One, [and] Quality” (WGTE.org). Implementing an underwriting plan for ISUtv, similar to other non-profit public broadcasting stations like Iowa Public Television, will allow local organizations and businesses the opportunity to reach their target audiences. This could include Iowa State students, faculty, staff, and even residents of Ames and surrounding communities.

Needs Assessment for ISUtv
Many factors contribute to the need for additional ISUtv funding. Most importantly, this year’s $1,500 Student Organization allowance, which is decreasing every year, is hardly enough to cover the basic operating expenses leavening an even smaller budget for set and equipment repairs or improvements. Currently, six original programming shows plus syndicated programming from other sources air on ISUtv, which changes “nearly every semester” because students are encouraged to submit their own ideas for new shows. The attempt at collecting new and creative show ideas would contribute to continuing the position of being “one of the top

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student television stations in the country in terms of hours of original programming per week.” However, with little and yet decreasing funding from the Student Organization alone, continuing the leadership role of original programming, show growth, and ISUtv expansion seems unattainable. Extra funding would assist in creating a greater capacity for the station to accomplish tasks essential in developing a quality-learning environment and broadcasting station. This might include, but is not limited to, staying up-to-date with modern stage sets, enhanced lighting and sound systems, and technologically advance camera and editing equipment. Increased promotional activities around Iowa State campus and Ames community would also be feasible with additional funds. Involving student broadcasters in public interaction will allow other ISU students and Ames residents to learn more about ISUtv and what it has to offer. Getting face to face with potential viewers could demonstrate the creativity, originality, drive, and determination it takes to develop good productions and in turn, could boost viewership and loyalty. Hiring a paid management team is another advantage, which could be fulfilled through earning additional station funding. This would assist in gaining higher commitment levels from ISUtv staff, similar to the Iowa State Daily who currently pays their staff for published articles. Having a paid staff will increase the amount of guaranteed work hours put into the station, affecting the willingness to reach total quality. A paid management team is also necessary to carryout the goal of starting the Daily Newscast. This production is unable to be implemented as a school course for students to receive credit, which means it will take an extreme amount of added commitment, considering it will be aired daily. Funds could also be used for students to further their education and experience through various networking opportunities. This would allow students interested in continuing their broadcasting careers beyond college to meet other students and professionals within the industry. In conclusion, additional resources for ISUtv funding could be a great benefit to the students with an interest in broadcasting, appearance of each individual production, overall station quality, attractiveness to prospective Greenlee students, and finally the University as a whole.

Industry Standards for Station Funding
After corresponding with representatives from multiple student run broadcasting organizations and viewing a mixture of other websites, it became clear that the use of underwriting is widely accepted and used in various forms. Virginia Polytechnic Institute and State University’s (Virginia Tech) student run station, VtTv, has two stations for

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displaying two different forms of “scroll” underwriting. One of VtTv’s stations airs a slide scroll with single slides being aired in between regularly scheduled programs, while the other displays a video scroll. The “video scroll uses video and audio elements to form a [30 or 60 second] commercial” and is aired on their 24 hour campus scroll program (www.vttv.vt.edu). Virginia Tech’s station offers different price packaging for their underwriting in weekly, monthly, semesterly, and yearly time periods. Other student run school broadcasting organizations, such as the ones at the University of Arizona (Arizona) and Colorado State University (CSU), have similar underwriting programs to Virginia Tech’s, with the acceptation of a few variations at Arizona. Due to their broadcasting station being private to on campus viewing only, UATV3 has the ability to run regular full-length commercials. This could pose as a slight disadvantage for Arizona when taking into consideration the station only reaches approximately 5,500 students. With this in mind, when Mike Camarillo took over as the student media advisor, he decided to put an emphasis on applying to all available grants (uatv.arizona.edu). After getting his broadcasting students involved in the application process, and submitting for hundreds of different grants, Mike and his station earned thousands of dollars for UATV3 funding. In contrast to the University of Arizona, Virginia Tech, and Colorado State, schools such as Arizona’s in state rival, Arizona State University (ASU), do not participate in any type of underwriting. Jordan, an ASU student and SDTV Channel 2 representative, mentioned via phone conversation that although they are a non-profit station they do not participate to any extent in additional fundraising (asuwebdevil.com). Each semester, ASU’s student run broadcasting station, receives $2,000 of funding from their department, which has been sufficient in supporting their organization.

Recommendations
Implementing an underwriting plan for ISUtv is highly recommended to produce additional funding efficiently and effectively. Carrying out such plans is efficient in logic that ISUtv could simply maximize the utilization of their resources presently available through offering underwriting to a variety of businesses and organizations. Student participation in selling underwriting spots will be extremely effective in producing a clear cut image of ISUtv in the eyes of the community and demonstrate the tremendous amount of pride students have in their work. Some other advantages of having an underwriting program for ISUtv include, but are not limited to having more funds to invest in higher quality sets and equipment, a boost of viewership and loyalty due to the underwriters stake in the station’s success, and the potential for continual income from underwriters satisfied in the results of their investment. A disadvantage of implementing the program is the possibility of extensive lead-time for implementation and seeing monetary results.

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Student Involvement
As producers and crewmembers you may not be too interested in getting involved with the underwriting process. However, it is a critical factor to your production and ISUtv’s success. The success of your show depends on funding for show and set improvements, which is why all representatives need to assist in the underwriting process. Many of you may only wish to work on the broadcasting factor of your show rather than the sales aspect of collecting funding. That is why the underwriting program allows producers and crewmembers that participate in collecting funds from businesses to receive a percentage of that funding specifically allocated toward their shows improvements. The percentage of show funding is to be determined by ISUtv’s faculty advisor on an annual basis.

Procedure for qualifying clients
A procedure for qualifying clients has been designed to assist in keeping things in order. The underwriting coordinator has the responsibility of final determination of potential clients to target. The coordinator will consider whom the businesses are that will be most likely to participate in underwriting with ISUtv. The following is a list of questions both you as an ISUtv Representative and the coordinator should consider:
   What product and/or service does the business offer to Iowa State students? Are Iowa State students a part of the businesses target market? Does the business currently do any advertising? o How much do they do? o Which mediums do they advertise through? o Have they done any advertising targeted directly at Iowa State students? o Has the business ever advertised in the Iowa State Daily? Where is the business Located? Is the business corporately or Locally owned? o Will the decision maker be easily accessible?

 

Included in this manual you will find an ISUtv Representative lead form. This form is to be filled out by you and other ISUtv Representative participating in the Underwriting Program. When a representative finds a lead they feel is a viable candidate for underwriting, they will complete the form and submit it to the coordinator for approval. Following the coordinators approval of the lead, the form will be returned to the producer who submitted it with permission to contact the stated business. As an ISUtv Representative you have the responsibility of finding new leads in addition to contacting the leads following coordinator approval. After the coordinator has approved the lead, you will need to prepare your self for contacting the business.

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Selling Process
Prior to meeting with a potential customer for the first time, you and your ISUtv representatives should have a basic understanding of what type of business the organization is in. This is called pre-call planning. Having some general information before you speak with a customer shows the customer that they are not just another business on the route you are taking. It shows them that you did your “homework” because they are important to you. When meeting with the potential customer for the first time, you should also be prepared to show a few visual aids. A station information packet for visual use could include a programming schedule, coverage map, rate card, station description, and possibly after a year or so of implementation; testimonial letters from satisfied underwriters. After completion of pre-call planning and compiling of an information packet you are ready to make your first call or first appearance in front of your customer. This call is not going to be used for selling your program the customer initially. The primary reason for meeting with them is purely fact finding, used to ask questions and collect more information about their organization. The following are examples of few questions you should ask when meeting with a customer for the first time:         What is your primary target market or ideal type of customer? What is unique about your business? Where do you want this business to be in 5 years? Who are your main competitors? What products are your best sellers? Slowest? When are your peak times of the year? What is your annual advertising budget? How much of that do you spend on print? TV? Direct Mail? Radio? Web?

The most important thing to remember when asking these questions is to LISTEN to their answers. Be prepared to repeat their answers in another form to show them you were listening and create a plan to show them the advantages of underwriting on ISUtv. For example, after collecting answers to the above questions, you could say: “Thanks Joe for helping me to better understand the business you are in. As you mentioned before, you consider 18 to 24 year olds (college age) your primary market segment due to your unique position of having late night hours of service. Because ISUtv is ran by college students and is primarily watched by students in the community, I feel I have a terrific opportunity for you assist you in reaching your goal of being the number one pizza restaurant on campus in less than five years. Joe, if I could show you a way to accomplish that goal, would you be interested in learning more?”

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Following up with a statement, such as above, shows the customer that not only were you listening to what he had to say, but you have a solution to what he/she wants to accomplish. Of course they will be interested in learning more for you. This is where you will then suggest to the customer a package that will fit their needs, and be prepared to tell them why it is the best one for them. Reasons for Joe could be as follows: “Again, as you mentioned Joe, your business is targeting the college market, which is why my suggestion for you is to be a sponsor of ISUtv for the whole year. This will offer you a direct line of communication to reach your market during your peak time of being while student are at Iowa State for the school year. Being a sponsor for the year will allow you a new message on our Personalized Message board monthly, a Business Mention, and a Business Feature during every new taping of all our programs. This will give your targeted students <insert number of times to be seen> opportunities to see your message, and in turn create interest in their mind to stop by for a pizza after a late night study session…Can you see how this would be a benefit for your business and assist you in reaching your goal to be number one within five years?” Now you have successfully offered Joe your product and asked him if he can see the value. Make sure to listen to his response as well as address his concerns. In the example the ISUtv Representative started out with the most expensive package but also the one with the greatest value to Joe. Starting with the ultimate package is the best option; the worst thing Joe would say is that it is too much for him at the time but that you have his interest in something a little smaller. This is where you will need to pick up on his cues and determine again what it is Joe needs to be successful. Returning to the beginning, to ask a few more questions is a must in re-evaluating Joes needs. Once you and Joe have come to an agreement, and he is interested in what you have to offer, then you have successfully earned his interest. From here, you will being the paper work as well as collect details on what Joe would like his message and feature to include.

After the Sale
After you have closed the sale on your underwriting agreement there is a lot more for you to do. This includes follow through on your agreement and maintaining the relationship with every business involved in the ISUtv Underwriting Program. Your ultimate goal is to keep every new customer happy with your station’s services and results of their underwriting success. Keeping in constant communication with the customer is a must. Tasks for enhancing a good relationship include:    Assess customer satisfaction Take action to ensure satisfaction Maintain open, two-way communications

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 

Expand collaborative involvement Work to add value and enhance mutual opportunities

Word of mouth is very important in the success of growing the underwriting program, so following the tasks above to keep them happy is very important. Also, keep in mind that dissatisfied customers are more likely to spread negative word of mouth than satisfied ones are to spread positive; so try to keep the customers happy to keep negativity to a minimum.

Good luck to you and the success of your show and ISUtv!

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Representative Lead Form
Representative Name: _________________________ Show name: ________________________ Date Give to Producer: ______________________

Organization name: ___________________________________________________________ Organization Contact Person: ______________________________________________
Phone Number: _________________________________________________________ Address: _______________________________________________________________ Email: _________________________________________________________________ Type of Organization: ___________________________________________________________ Reason you think the Organization might be interested in Underwriting with ISUtv: ______________________________________________________________________________ ______________________________________________________________________________ ______________________________________________________________________________ Reasons they should underwrite on ISUtv--sales points to be made: ______________________________________________________________________________ ______________________________________________________________________________
**Submit this the underwriting coordinator to receive approval prior to contacting the business

Representative Lead Form
Representative Name: _________________________ Show name: ________________________ Date Give to Producer: ______________________

Organization name: ___________________________________________________________ Organization Contact Person: ______________________________________________
Phone Number: _________________________________________________________ Address: _______________________________________________________________ Email: _________________________________________________________________ Type of Organization: ___________________________________________________________ Reason you think the Organization might be interested in Underwriting with ISUtv: ______________________________________________________________________________ ______________________________________________________________________________ ______________________________________________________________________________ Reasons they should underwrite on ISUtv--sales points to be made: ______________________________________________________________________________ ______________________________________________________________________________
**Submit this the underwriting coordinator to receive approval prior to contacting the business

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Client Contact Form
(Give copy to Representative)

Representative Name: _________________________ Show name: ________________________ Date Give to Producer: ______________________

Organization name: ___________________________________________________________ Organization Contact Person: ______________________________________________
Phone Number: _________________________________________________________ Address: _______________________________________________________________ Email: _________________________________________________________________ Type of Organization: ___________________________________________________________ Reason you think the Organization might be interested in Underwriting with ISUtv: ______________________________________________________________________________ ______________________________________________________________________________ ______________________________________________________________________________ Reasons they should underwrite on ISUtv--sales points to be made: ______________________________________________________________________________ ______________________________________________________________________________

Client Contact Form
(Underwriting Coordinators copy)

Representative Name: _________________________ Show name: ________________________ Date Give to Producer: ______________________

Organization name: ___________________________________________________________ Organization Contact Person: ______________________________________________
Phone Number: _________________________________________________________ Address: _______________________________________________________________ Email: _________________________________________________________________ Type of Organization: ___________________________________________________________ Reason you think the Organization might be interested in Underwriting with ISUtv: ______________________________________________________________________________ ______________________________________________________________________________ ______________________________________________________________________________ Reasons they should underwrite on ISUtv--sales points to be made: ______________________________________________________________________________ ______________________________________________________________________________

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Underwriting Rates
Personalized Message Board:
1 month ……………………………………………………………….…..…. $25
—with 1 new message change

3 month ……………………………………………………………………… $45
—with monthly new message change

1 semester—2 messages……………………………………………………... $100
—with unlimited new message change

Extra message changes………………………………………………………. $2
**Message rotates between shows. **Package includes a still graphic, color background, text and clip art

Program Sponsorship
1 month ……………………………………………………………………… $125 3 month ……………………………………………………………………… $145 1 semester …………………………………………………………………… $200
**Information given includes: Name of Organization, Address, Phone Number, Hours of Operation, Product Line, and Logo Phrase (As long as it is not call to action). **Package includes 1 message on the message board, 1 business mention on the program, and a 30-second business feature video announcement to be seen at break during newly recorded show with: Text, Music, Voice Over, Organization Logo, Color Background, Photo or color video of the front of the organization

Station Sponsorship
3 month …………………………..………………………………………… $900 1 semester …………………………………………..……………………… $1,450 1 year ………………………...………………………………………..…… $2,000
**Information given includes: Name of Organization, Address, Phone Number, Hours of Operation, Product Line, and Logo Phrase (As long as it is not call to action). **Package includes 1 message on the message board, 1 business mention on the program, and a 30-second business feature video announcement to be seen at break during newly recorded show with: Text, Music, Voice Over, Organization Logo, Color Background, Photo or color video of the front of the organization

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For business office use:
Account Number: ____________ Start Airdate: ____________ End Airdate: ____________ ISUtv Rep: ____________ ISUtv Show: ____________

Underwriting Agreement
Underwriter Information

Organization Name: ____________________________________________ ____ Contact Name: _____________________________ Title: ___________________ Mailing Address: ___________________________________________________ City: ___________________ State: Zip: ____________________ Phone: _________________ Fax: ____________________________________ _ Email: ____________________________________________________________

Underwriting Package
Personalized Message Board: 1 month ……………………………………..…………. $25
—with 1 new message change

Quantity/ Package

_____ _____ _____

3 month ……………………………………….……..… $45
—with monthly new message change

1 semester—2 messages…………………….………..... $100

—with unlimited new message change **Message rotates between show with a still graphic, color background, text and clip art

Program Sponsorship 1 month …………………………………………..…… $125 3 month ……………………………………………..… $145 1 semester …………………………………………..… $200

_____ _____ _____

**Package includes: 1 message on the message board, 1 business mention on the program, and a 30-second business feature video

Station Sponsorship 3 month ………………………………………..……… $900 1 semester ………………………………………..…… $1,450 1 year ………………………...…………………..…… $2,000

_____ _____ _____

**Package includes: 1 message on the message board, 1 business mention on the program, and a 30-second business feature video announcement on all shows

Payment Information
Check # ___________________ Money Order # ___________________ Account # ___________________ Campus Org. Act. # ___________________ Subtotal = $_________ Total = $_________ Min 50 % Deposit = $_________ Balance Due = $_________

Signature for payment
Contact: _________________________________________________________ Date: _________ ISUtv Rep: _______________________________________________________ Date: _________ **50% down payment at contract and remainder due45 days from date of agreement

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