Radio advertising has been a staple marketing channel that has been around for almost a century. But as digital media such as social media, websites, and streaming audio take up more and more ad dollars, radio has struggled to prove it offers advertisers the same return on investment (ROI).
Although radio still reaches most of the U.S. population, advertisers want proof-of-performance metrics to validate spend and optimize campaigns. Luckily, new radio technologies offer stations a way to better compete with digital and command more ad dollars than ever before.
In this first blog, we’ll cover:
- Radio advertising vs. digital advertising
- The benefits of radio advertising
- How to plan a radio advertising campaign
- What goes into crafting an effective radio ad placement
- Ways to measure and analyze results
Radio Advertising vs. Digital Advertising
Radio advertising and digital advertising should offer different things to advertisers. Radio advertising can reach a large and diverse audience. With over 90% of adults listening to the radio at least once a week, radio has an undoubtedly massive reach.
However, when it comes to measuring success, radio has always lacked rich data metrics that advertisers expect since the emergence of digital channels, which have these metrics automatically built in. With digital channels, you can be highly targeted and more easily measure success to maximize the cost-effectiveness of campaigns.
Benefits of Radio Advertising
We’ve already touched on the sheer reach of radio, but radio’s appeal lies in its level of engagement. According to a neuroscience study, audio is the most engaging and immersive medium, even compared to TV. In another interesting find, the study showed impressions garnered by radio go further than those generated by other media because listeners trust radio more than they trust media like TV or digital.
Radio’s ability to engage listeners and gain their trust makes it attractive to advertisers who want to cut through the noise and reach an attention-starved audience that’s constantly hit by messaging on all sides. But even with these things working in radio’s favor, radio operators and advertisers must work together to plan, craft, and execute effective campaigns to reach the right audience and obtain positive results.
How to Plan a Radio Advertising Campaign
You must take the same amount of care you would with a digital campaign to run an effective radio ad campaign. For an effective radio campaign, you should do the following:
- Define campaign goals, objectives, and frequency.
- Identifying the target audience and with what stations you can reach them.
- Develop a compelling message and call to action.
- Determine the appropriate ad format, voiceover, and length.
- Set a realistic budget and schedule.
But this is only half the battle. Once you’ve established the preliminaries, you must craft an effective radio ad. Much of this can be accomplished through a partnership between the advertiser and the station. Radio operators can effectively track an ad’s performance with the right tools. But what goes into an effective radio ad?
Crafting Effective Radio Ads
To create a radio ad that performs, you should do the following:
- Grab the listener’s attention with a strong opening.
- Use storytelling techniques to make it engaging and easy to remember.
- Focus on the benefits, not the features.
- Have a clear CTA and repeat it multiple times.
But to understand how an ad is performing, you need to have the means to track performance and make adjustments as needed.
Measuring and Analyzing Results
Measuring and analyzing the performance of radio advertising campaigns is essential to optimizing results and achieving a better ROI. Historically, there haven’t been many solutions that could offer advertisers the data they need to feel comfortable spending their budgets on the radio. However, Veritone has changed that, helping stations win new business by allowing them to share how campaigns are performing with advertisers.
Veritone Attribute is a turnkey broadcast attribution solution that helps broadcasters optimize linear TV and radio campaigns by correlating an ad with web lift in near-real time. It tracks and visualizes campaign data, tying it to the response advertisers receive through increased web traffic and unique website visitors. With this tool, broadcasters can obtain greater insights to share with advertisers and use empirical data to secure a larger share of ad spend and more renewals.
But we’ve only scratched the surface with the best practices and tips for radio advertising success. In this five-part series, we’ll explore the following:
- How to Attract and Engage More Radio Listeners
- Radio Advertising Effectiveness: Measuring Impact and KPIs
- The Power of Radio Analytics: Metrics, Tools & Tips
- Radio vs. Digital Advertising: Why Radio Stays Relevant