How Pricing in the Broadcast Advertising Industry Works with Dominick Latorre

<p><strong>Dominick Latorre</strong> is the Senior Director of Yield and Inventory Management at Sinclair Broadcast Group. He used to be the Manager of Pricing and Planning at Spectrum Reach, and he's the Assistant General Manager of the Men's National Team in USA Ball Hockey.</p> <p>In this episode, Dominick explains how they price slots for broadcast advertisements as he relates it to how airlines do pricing for their seats.</p> <p> </p> <p><strong>Why you have to check out today’s podcast:</strong></p> <ul> <li>Learn how Sinclair does pricing for perishable inventory like ads</li> <li>Understand how it’s related to how airlines price their seats</li> <li>Find out why it’s important that your sales people know how to make sure that your service is priced effectively</li> </ul> <p><strong> </strong></p> <p align="center"><strong>“It's educating yourself on different industries outside of yours and how you can take those concepts and those ideas and apply them to your business.</strong></p> <p align="center">– <em>Dominick Latorre</em></p> <p><strong> </strong></p> <p><strong>Topics Covered:</strong></p> <p>02:01 – How Dominick got into pricing</p> <p>04:12 – Sinclair’s goal to improve efficiencies with the local pricing experts and revenue with pricing</p> <p>06:41 – “It is not what I wanted. It's not what I wanted to buy.”</p> <p>09:25 – Relating and comparing how Sinclair does pricing to how airlines price their seats</p> <p>14:46 – The factors that affect how Sinclair price the programs</p> <p>18:38 – Pricing for political campaigns</p> <p>23:01 – Pricing table topics: “Create real value with differentiation. Create perceived value with marketing.”</p> <p>25:36 – Dominick’s pricing advice</p> <p> </p> <p><strong>Key Takeaways:</strong></p> <p>“I'm very happy with the choice I made back in 2007-ish to get into pricing, because as obviously as you know, it's the biggest driver of profit if you're priced correctly, so much more than sales volume or anything else.” – Dominick Latorre</p> <p>“With the various choi