Radio advertising has been in existence for close to a century now and it is a fact that this mode of marketing is here to stay for at least another decade or so. In the United States, most of the revenue generated from the radio is made by selling ad space to be utilized for running radio advertising campaigns. In some countries, radio advertising is less popular than other forms of advertising like television advertising and print advertising.
Radio advertising strategies can be devised and implemented according to the needs of the station. The audience response is also taken into consideration when the plans are being put into practice to increase audience response. But let us have a look over the basic ingredients that are often used in radio advertising.
Audience – what’s the audience for a particular radio advertising campaign? What age group does it cater to and what kind of people does it cater to? It’s very important to find out these questions since a radio station may not be able to attract the right audience if it doesn’t know who to target. Apart from targeting an appropriate audience, radio advertising strategies also tend to depend on listeners selection. A listener selects programs based on his preferences and so to get maximum benefits from it he has to select the programs himself.
Advertisements that are most cost-effective – the next most common theory behind effective radio advertising is that the best way to advertise is to advertise for free. Free spots are often more cost-effective than paid advertisements since the latter tend to be more expensive with regard to production and distribution costs. With the free spots, a radio station is given a chance to reach out to more potential consumers. Though some may question its efficiency, this is a valid argument since there are limitations to using free spots and the impact of the advertisements is comparatively minimal. If the cost of producing and airing these commercials is relatively lower than the revenue gained from them then it makes sense to go for them. However, one cannot ignore the fact that there are other equally important ways to promote a product or service.
Cost-effective radio advertisement strategies also involve the use of technology in the form of commercials streaming audio, visuals, and video to the airwaves. This is mostly used in the case of print ads since they have been found out to yield more favorable results. In print advertising, the choice of format plays a very crucial role and is dictated by the budget available. However, audio advertisements and video advertisements can be made more cost-effective if they are created in a proper manner and relevant content is added to it.
Advertisers tend to opt for these mediums because of the immediate feedback that they receive from their target listeners. They can immediately evaluate how effective the advertisement has been by listening to the same on the radio. Radio advertising costs are much lower than television advertising costs. This is especially so in the case of small businesses which cannot afford to launch an expensive television advertising campaign to promote their products and services. Radio advertising costs are very much affordable to any company and can be launched in order to increase sales and generate revenue.