Recently, a radio media placement of some $1.2 million for November and December was placed by a consortium of mortgage companies, and NABOB member stations received most of it. NABOB says that in cooperation with key members of the Congressional Black Caucus, it was behind the effort to get these ad dollars on the stations.
Said Jim Winston, NABOB Executive Director and General Counsel:
“In my capacity as Executive Director of NABOB, I was invited to represent the organization at a working session called Gathering Requirements for an Expanded IFR Media/Outreach Plan, convened by the Office of the Comptroller of Currency (OCC) back on August 15th. The Independent Financial Review (IFR) is a program being conducted by the OCC and the nation’s largest mortgage companies to inform former home owners that the foreclosures on their homes may have been conducted improperly and that they may be entitled to compensation. The OCC and the mortgage companies asked NABOB how radio advertising could help them communicate their message about the Independent Foreclosure Review to African Americans across the country, because African Americans were disproportionately affected by foreclosure. I asked Spotset Radio Networks to join me in the presentation, because they are a business development arm of NABOB. The audience, in addition to government officials, included senior marketing executives from the mortgage companies, including Wells Fargo, CitiBank, JP Morgan Chase and Bank of America.
Our presentation was very well-received by the substantial audience present, with particular interest in the NABOB oriented diverse radio network developed by Spotset to effectively reach the African American audience. Each consortium member bank was assigned a specific task necessary for execution of their marketing plan, and NABOB/Spotset was directed to work with Bank of America on the media planning and media execution across 65 markets. Spotset worked closely with Starcom/Tapestry for over a month, and they developed an IFR avail request which went out.
The net result is $1.2 million dollars for NABOB radio members and the urban radio community as the 2012 year comes to a close. This IFR business resulted solely from the efforts of NABOB and Spotset Radio Networks.”
He also said that NABOB is committed to continuing this push for more ad dollars for NABOB members. NABOB will use its unique relationships with key persons in the Federal government and the advertising community to identify advertising dollars for NABOB members.
Meanwhile, NABOB also generated $168,000 in ad buys from the Service Employees International Union during the final days of the Presidential campaign. In another successful endeavor for NABOB’s push for more ad dollars for its members, NABOB, Kizart Media Partners, Spotset, NNPA and MMTC were able to educate the SEIU of the value of placing ad dollars with Black owned media to get out the vote.