Companies pumping a large amount into the marketing budgets, with the sole aim of engaging prospective clients… Yearly, most companies hunt for effective marketing channels.
Mostly, radio advertisement is more ideal for local businesses as it reaches the targeted audience within a specific geographical location but could also help big companies achieve their market goals.
Although, the current trend in the marketing space favors visual advertising. It’s common for people to use Spotify, iTunes, and the rest but according to a report, 93% of USA adults still listen to the radio. Massive, right?
With an average American spending an average of 8 hours behind the wheels per week, radio ads are still a good marketing strategy if done correctly.
Radio is still a good method of advertising
Here are some of the reasons we consider radio ads as an effective marketing strategy.
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Low Cost
While the average cost of airing your commercials on the radio is between $150- $5,000 per week, for tv commercials, the cost of advertising is estimated at $5 per 1,000 viewers. Some factors that would affect the cost of advertising includes;
- Location
- Time
- Ads duration
- Audience size
Radio ads are still one of the most budget-friendly means of marketing your company’s services. You can check for the prices in different states on gaebler.
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Ease of Production of Ads
Another cost that could be incurred from running radio ads is the cost of producing the commercial. Some radio station has ads production team that could help but it all comes at a cost.
The process is less stressful when compared to the process involved in the production of TV commercials.
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Audience
The effectiveness of a marketing campaign is determined by the conversion rate. Radio ads are more geographical specific hence, the reason why it is most suitable for promoting local businesses.
The goal is to get through to your potential clients and convert them into actual customers. With demographic data provided in radio stations, you can determine if the ads are worth the amount budgeted.
Cons of Running Radio Ads
- Audience size: Ads on the radio is usually restrictive geographically while most business might need a wider reach
- Ads slot: Since the goal of a marketing campaign is to reach the right audience, companies have to compete for some “hot spot” that can guarantee sales.
Is Internet Radio a Game Changer for Radio ads?
With the internet radio, there isn’t a geographical restriction, unlike the traditional radio (AM/FM). You can tune in from anywhere so far you’re connected to the internet.
Pandora estimated its active monthly listeners to be 58 million, with figures like this, it is safe to say internet radio is a game-changer. It reaches a wider audience only that it’s still unpopular among older age groups. Internet radio is dominated by the 18 years – 24 years age group.
By Alan Jones.