How Radio Marketing Can Help Your Business Grow
by Nicola Reid
Business4today.com
Radio marketing isn’t exactly a priority for most businesses in this day and age. According to a PMW report, the majority of advertising money (55 percent or $409.9 billion) is now spent on digital, which includes video, social media, and online channels in general. Businesses also spend more on paid searches, TV, displays, and print.
That doesn’t mean you should discount radio marketing. Just because it isn’t as popular right now doesn’t make it irrelevant or ineffective — far from it. Going by ROI research from iHeartMedia, radio offers the best ROI of them all — a massive 6:1, which is more than twice the ROI of other popular channels like digital and TV!
Radio Advertising Facts explains how radio can help your business grow in this digital era:
- Radio has maximum reach
According to Nielsen findings, radio has the most coverage out of all the media platforms, reaching 92 percent of US adults weekly. If you’re looking to get the word out about your business or latest offering, radio will help you cast the widest net.
- It’s selective
Radio not only helps you cast a wide net but also a targeted one. Radio programs, especially these days, are segmented. Channels tend to specialize — think music, news, sports — and so attract an audience with matching tastes. You can be very picky about who hears your ad for maximum impact.
- It’s affordable
Radio advertising is comparatively affordable. Weekly costs range from $200 to $5,000, with local ads being the cheapest. You’re charged by ad length, time slot, location, the size of the audience, and the nature of the radio host. With some savvy decision-making, you could have an effective campaign going for under $500 a week on a local channel.
- It’s simple
Radio has been around for a long time and has well-established processes. That means advertising on the radio is as straightforward as it gets. You don’t have to navigate complex software or be familiar with the latest tech or social media trends to release a relevant ad.
- Radio can have a significant psychological impact
Radio can be an incredibly effective advertising medium because it tends to have a significant psychological impact on listeners. Sound is well-known to “stick” in a listener’s mind — many people remember popular advertising jingles for a lifetime. Sound-based ads can also incite strong emotion in listeners and, ultimately, influence purchase decisions.
Understanding your audience’s psychology is essential to success
To craft a compelling radio ad, you must understand what makes your audience tick — their needs, wants, pain points, preferences, and more. The audience’s psychology is what drives their decisions. Many businesses and marketers place a heavy emphasis on understanding their customers. Some go as far as to take psychology classes to learn more about people’s behaviors and then use their knowledge to create compelling ads. If you’re interested in earning an online psychology degree, which has applications in marketing as well as other business areas, you could pursue an in-person or online psychology program.
How to advertise on the radio
Wondering how to go about releasing an ad on a radio channel? Here’s a brief overview of how the process works:
- Choose a partner channel: Every radio host has different advertising packages. You can team up with a local station to broadcast ads in and around the area.
- Choose an ad type: Radio ad types include jingles, voiceovers, testimonials, sponsorships, time checks, and much more.
- Produce and release your ad: Depending on your ad type, you may have to produce it. This may involve writing a script, recording a voiceover, including a CTA, and more.
- Track and measure the results: Measuring your results is key to calculating the ROI of your campaign and, later, improving it.
Make radio a part of an overarching marketing strategy
Radio will likely give you the biggest bang for your buck — but it’s not the only effective marketing medium. Savvy businesses often have a multi-pronged marketing strategy that targets several mediums at once — such as social media in addition to radio. For example, you could have a voice-based content campaign and share your voice ads — and even host podcasts — on social media alongside radio. Or you can use content marketing to create valuable, relevant, and consistent content to attract and retain a clearly defined audience. You can consult authority sources to learn how this works.
Radio marketing remains an incredibly effective marketing channel with a high ROI, whether you’re a home-based business, a mom-and-pop shop, or a big corporation. It’s affordable, has excellent reach, and has a significant impact on listeners. It can be highly advantageous if you include radio as part of your marketing strategy.
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