If you're looking for an effective way to reach your audiences, radio is still one of the most reliable channels. While there's been an increasing reliance on digital media such as music streaming and podcasts, radio isn't going anywhere as millions of people still listen to their favorite stations every day.
Curious to know whether radio advertising is ideal for your business? Let's look into radio advertising and how it can benefit your brand.
How Popular Is Radio Advertising Today?
Radio's popularity is unwavering as it continues to engage listeners across all demographics. Recent radio advertising statistics have revealed precisely how effective this channel is. Today, nearly 88% of Americans listen to AM and FM radio weekly, reaching around 300 million people. Because of this active listenership, it's no surprise that the global ad spend for radio advertising is a market that rakes in $36.1 billion per year.
Remember that traditional radio isn't the only popular media you can use. Many audiences also listen to streaming radio, which comprises 12% of radio listening in the U.S., making streaming radio advertising an effective alternative.
Additionally, radio is top-rated among younger generations, even with the rise of convenient streaming services. Recent stats show that an impressive 55% of Gen Z listens to the radio. What might surprise you more is that 86% of Gen Z-ers listen to traditional radio, with streaming radio accounting for 11% of listenership in this generation.
If you're wondering whether your specific business will benefit from radio advertising, recent statistics show that nearly every industry succeeds with this media.
Specifically, Statista found that the following industries spend the most on radio advertising:
- Miscellaneous amusement and services
- Insurance and real estate
- Politics, organizations, and government
- Media and advertising
These are simply some of the many statistics revealing the everlasting effectiveness of radio advertising.
Is Radio Advertising Worth It for Brands?
So, how successful is radio advertising, exactly? The following benefits illustrate radio advertising effectiveness for all types of brands.
One of the main benefits of radio advertising is its affordability. On average, radio advertising costs between $200 and $5,000 per week. However, the cost can be even lower with the right strategy.
The cost of radio advertising depends on several key factors, including the location of your ad and audience, the station you choose for your ad, and ad length. For instance, you're more likely to pay a lot for a longer ad in a city like Chicago, whereas you might only spend around $30 for an ad in a town like La Crosse, depending on the specific station you choose.
Broad Audience Reach
The right radio ad strategy will also help you reach just about anyone. Edison Research's recent "Share of Ear" survey found that nearly everyone listens to the radio in some form. According to the report, 76% of listening time landed on AM/FM radio stations, more than podcasts, which accounted for 11% of listening time.
The Edison Research study also determined the percentage of listenership among the following age groups:
- 18-34 — 58%
- 18-49 — 67%
- 25-54 — 72%
- 35-64 — 79%
- 50+ — 86%
The same survey concluded that radio reaches audiences across all political affiliations and demographics. You will likely influence them by radio regardless of whom you're targeting.
Radio is great for building brand awareness. Ads have the potential to connect with hundreds to millions of listeners all over La Crosse and throughout the country. This will get your brand the exposure it needs to thrive among all audiences. Over time, you'll be able to gain the trust and business of those audiences.
Radio advertising can ultimately bring in more customers. People will be more likely to buy from brands they hear advertised on their favorite stations. Your ads can also go to the right stations based on your audience's interests, ensuring that your ads are relevant to what people want. In turn, more people will come into your stores or buy from you online.
The ROI of Radio
Radio has a high ROI, making it one of the most cost-effective and reliable advertising channels. For every dollar spent on radio ads, you can expect an average ROI of $12. In short, if you're not engaging in radio marketing, you're missing out on a critical opportunity to increase the profitability of your marketing efforts.
Turn to a Media Partner for Radio Advertising
Radio advertising is one of the most effective ways to connect with all types of audiences, and it's here to stay. You'll use a combination of radio marketing and other offline and digital marketing campaigns to enable your business to excel.
For some assistance with your radio advertising efforts, Mid-West Family La Crosse is here for you. Contact us today to learn more about what we can do for your radio advertising campaigns.