An organisation like a radio station needs to deal with myriad challenges like delivering content that its target audience likes to continuously keep on growing in a medium that has seen its share shrink with the advent of televisions and internet. KPIs are undoubtedly the most potent solution that you could possibly use and broadly categorised in four perspectives.To begin with financial perspective can be obtained with parameters such as annual revenues, sales per employee, membership cost and recording rates. This is to make sure that enough financial pumping is provided to the organization. Music formats can be quantified in the form of parameters like number of record companies, services, age-groups taken care of and ratio of advertisements: musical shows. This is to follow the music patterns of the radio station. Technology perspective can be measured by using the indicators such as number of interactive platforms provided, off-air index, approval rate and specific absorption rate. Internal operations perspective can be obtained with number of live sessions, recording sessions, employees and LPFM stations range.
Read Why do business professionals choose ready-to-use KPIs? to find out the answers to these questions:
Ideally, you need to have a strategy (in a form of a strategy map) before you start thinking about the ways to measure its execution (KPIs). Don't have a strategy map yet? Use free Strategy Map Wizard to create a strategy map for your current business challenges. The wizard will:
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A Radio Station needs to pay attention to a number of aspects involved that center around providing 'clear radio transmission' to its listeners. This can be a complicated task for managers in the absence of a proper tracking tool. However, the difficulty can be sealed, that too in an effective manner by employing a 'performance management and measurement tool' called BSC (Balanced Scorecard).
The strength of this strategy lies in the 'multi-dimensional' view promoted. This is to say that a number of aspects can be rolled together in one place and used for future reference and corrections.
This managerial instrument relies on the metrics to measure and manage performance of the place. The functioning of all the equipments, both tangible (radio transmitter) and intangible (radio waves) can be measured by bringing this device into picture.
Such a quantitative approach can lay the foundation of flawless radio transmission and earn impressive amounts for managers and operators.
To say it all, by using this 'KPI studded management device' called BSC, one can ensure that radio broadcast is done in the best possible manner.
This is the actual scorecard with Radio Station Measures and performance indicators. The performance indicators include: financial perspective, annual revenue, sales per employee, membership cost, average recording rates, music formats perspective, number of record companies, number of services offered, advertisements: musical shows ratio, number of age groups catered, technology perspective, number of interactive platforms provided, off-air index, approval ratio, specific absorption rate, internal operations perspective, live sessions, number of recording sessions, number of employees, lpfm stations range.
Download a trial version of Radio Station Evaluation Balanced Scoreboard or purchase a full version online.
How is this book different from 796 other book titles about KPIs on Amazon?
"Before writing a single line, I formulated some guiding principles, one of them was: "If our clients ask, "How can I find a good KPI for..." - I want this book to provide a perfect answer."
