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How do you work out your ROI on voice talent for your audio book promotions?
When you hire a voice talent for an audiobook promotion, let's say for a national radio commercial, have you ever measured the return on investment that you received from the radio campaign?
Usually, the ROI you receive at the end of a good campaign will far outweigh the cost of the voice talent, and it should. If all of the right ingredients are there, including the perfect voice for the job, you should exceed your campaign goals with flying colors.
Taking this into account, the financial compensation that a voice talent receives from you is usually a one-time deal otherwise known as a 'buyout'. Essentially, you only pay the voice talent for their work once, but you continue to make money from their voice every time that it is heard on the airwaves.
Amazing, isn't it?
This brings me to ask the following question:
Do you budget for your voice-overs with your ROI in mind?
Many people estimate what they think they will make from a campaign but don't take into account one of the main reasons why they are making a profit every time the advertisement is played. An Interesting Suggestion?
Why not budget for the cost of a voice-over factoring in your expected return on investment, thus raising the budget for hiring a voice-over talent?
The results may yield:
Working with your first choice talent
A better voice-over
An even higher return on your investment
A Common Misconception?
...is that the shorter the voice-over, the less it should cost.
If this is your current impression, you may need to revisit past audio book voice promotions and take an objective look at how they turned out.
Some areas to examine closely are...
If you settled for the lowest bidder and paid the price, resulting in a poor voice-over performance
If people noticed and responded positively to your campaigns
The overall ROI from respective campaigns
If you were prompted to hire the same voice talent because of those results
In the end, it's how the voice-over is used that should determine the price that is paid.
Remember, the voice talent's voice continues to generate revenue for you after the recordings have been delivered.
In this way, you can come to think of them as a member of your team and sales force, working for you to promote your business or organization via broadcast channels or through other mediums and by other means.
How's the ROI on your voice-overs?
Stephanie Ciccarelli is the Vice President of Marketing and co-founder of Voices.com , the voice over marketplace. Stephanie translates years of classical music training, theory and performance into practical applications within the voice over industry. For more info on getting started in Audiobook Publishing, or finding great Audiobook narrators, visit AudiobookVoiceTalent.com
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