The internet radio business plan describes a special market opportunity, one that would not have been conceivable even just 10-15 years ago. With more and more people sitting in front of computers all day long, the ability to support a web-based streaming music application suddenly has huge value potential. While many consumers use iPods or their phones to listen to music files, the simplest way to hear your tunes while at a web-enabled PC or laptop is actually internet radio – and as upstarts like Pandora have demonstrated, there's a big potential market here. But can you piggyback on the wave? Some important questions:
• How will you manage the subscription tiers?
• What is a user experiencing the site “free†subject to, ads-wise?
• How will you connect with advertisers?
• What rates will you charge your marketing partners?
• What competition do you face, besides Pandora?
• Do you have an email list to market to already?
The business plan will not only need to account for competitive threats and offer counter-marketing ideas, it will need to show that you can deliver a unique service or experience. One knock against internet radio is that it is a static service. How can you deliver a different experience? What sort of albums or interface features or live radio can you bring into the mix? Make it clear how your company will be better. Also lay bare the experience base of your chief executives and offer a full personnel plan showing that you know when and where to seek the talent/support you'll need. Want help here? Call MasterPlans today. Our team can get your plan put together in as little as 10 days. Call 877-453-2011 now!
