For how long do we know the radio? It has been the first invention for entertainment through music, much before to that of the television. This device not only proved to be the soul of music and entertainment, but also gained space in the field of advertising and marketing. Radio has become the most popular and successful mode of advertising. Since years, it has been elevating the economy of businesses, through branding and marketing. The most important aspect of radio is that, it still remains a less expensive yet effective model to advertise and use as a strategy in marketing. The challenge really is not in the type of ad that needs to be introduced, but it is in the medium of advertising. With the many options today, as an effect of globalization and progress, advertising is not constricted to one medium like newspapers and hoardings. It has reached the Internet and media marketing too. Radio is still the most recommended tool in media marketing. Though in the many years of progress in advertising, radio still holds a strong position, with lesser radio advertising costs and fixed targets.
The reason can be drawn to the fixed or definite area or target of the radio. With radio advertising, the effect on the audience is double to that of any other medium. The radio has a strategy, that works by associating and familiarizing your target audience with your brand, with repeated delivery of the message, at the right time. With a good study of the market, prospects and the competitors, one can effectively plan a strategy for effective radio advertising. This type of branding may not show results in a short period of time. Patience and time is the key to make this kind of advertising work. And we have many a successful marketers that have enabled good profit through radio advertising. To help understand better about the successful achievements of radio marketing, and how far it has been able to convey to its audience, we have compiled some facts about successful radio advertising.
Radio Advertising Statistics and Advertising Figures
As mentioned above, radio is a successful medium due to the definitive targets and repeated branding messages that are tuned. There is a lot of money saved in this process and the end results show effective marketing and success.
The repetition of the message gets radio more advantage, than other media of advertising like print media. The radio has also been effective equally or more to connect to the audience like the television.
The radio targets over 233 million people in a week. Apart from the online radio there are more than 1000 licensed commercial stations in the United States. Radio audience has more than 80% of people who are likely to vote.
On line radio has reached 20% of population of the United States, which is 12 years and above, all in one month. And the average population that is achieved by online radio is 49 million. The good news is that Google is now into selling radio advertising online.
More than 60% of the people in United States listen to the radio everyday, and 94% of college grads, above the age of 18 are active radio listeners. Out of the total audience of the radio in a week, 93% are adults. The weekly audience for online radio has remained steady for the past one year.
According to a survey, on an average a person listens to 1000 hours of radio per year. Which is a good achievement as compared to television that is 1500 hours a year.
About 96% of the audience that is in the age group of 18-49 years, with an annual income of $75000 and above, tune in to radio every week. Whereas 95% of those in the same age group, but with an annual income of $50000 and above listened to the radio every week.
Looking at combined advertising efforts of the radio with other media, the following are the statistics:
Radio advertising could increase the brand recall by 34%, when used in conjunction with television advertising, as compared to television advertising alone.
Radio advertising increased the return of investment more than 4 times, when combined with Internet marketing, and as compared to Internet marketing alone.
Radio advertising along with print advertising, made branding 3 times more successful than newspaper and other print media alone.
The radio has also proved to have, more return on investment (49%) than television advertising.
Radio advertising have many more benefits in the long run. Along with being effective, there are many options like different stations that can give you the best deal on your ad. Radio truly stands as a growing tool of advertising that is also most effective with maximum profit and gain. And with the introduction of the many stations, radio has emerged as a tool with various streams and options for effective advertising.