Is Radio Advertising Still Worth It?
The radio may be a company’s dream come true when it comes to advertising. Despite all the changes in the last decade in how Americans access music, AM/FM radio is still the most cost-effective advertising medium today. It’s an inexpensive way to reach your existing and potential customers. Radio advertising revenue is projected to reach 18.87 billion by the end of 2021.
Radio advertising offers you the opportunity to deliver a simple yet powerful message to a targeted group of consumers that may be interested in your product or service. A Statista source reports that for every dollar spent on radio advertising, 4.95 dollars are earned. The cost of a 15-, 30-, or 60-second radio commercial will depend upon the frequency of the ad broadcast and the time of day that the announcement runs. Morning and evening run times are usually more expensive than middle-of-the-day or late-night spots because the radio audience tends to peak during commuting hours. A minimum run of at least 15 ads on one station during one week is recommended.
Here at TriSpark, we believe radio can be successful when done right and mixed into a comprehensive marketing strategy. It all depends on the type of business and desired goals, but radio has many aspects that make it desirable.
Radio is a cheaper advertising medium than TV or print ads because production costs are much lower. With radio, you’re worried about sound and dialogue only, which makes it very cost-effective compared to other forms of advertising.
There are many different formats and genres of music that appeal to specific demographics so you can find the perfect home for your ad spot. From country, alternative rock, classic rock, hip hop, and R&B, jazz, oldies, talk stations, spots, pop, and so on, there is a station that reaches your target demographic. Radio enables you to reach over 92 percent of Americans age 12 and up each week, essentially covering every segment of a potential target audience.
Psychologists tell us that consumers need to be exposed to an advertising message at least three times before it begins to penetrate. Most local businesses cannot afford the necessary three-times-plus frequency that effective advertising demands – except on radio. Radio is the reach and frequency medium you can afford.
A survey done by IHeartMedia in 2020 revealed that radio is number one in trust and is two times more trustworthy than social media. The survey of radio listeners found radio to be 79% percent more or just as trustworthy than in 2019, while social media was 50 percent less trustworthy during the same period. Radio is also reliable in the sense that no matter what is happening, the station your ad is set to play on will always be up and running.
If your company is interested in running radio commercials, contact TriSpark Media today. Our team of talented advertisers and media buyers will set you up for success.