Radio broadcasts are often called as theater of mind and advertising fuels this medium. It has been a strong advertising medium with steady growth in ad revenue. There are hundreds of thousands of radio stations across the globe offering advertisers a wide choice of local, regional as well as national coverage. With the introduction of online radio like Pandora, availability of radio on mobile devices like smartphones with Internet connection provides advertisers with easy access to a new population of mobile audience along with traditional audience at home, at office or in cars.
Key benefits of radio advertisements may include,
- Local access – For the small businesses, radio is a powerful local medium. Local radio stations like DX are simply perfect for listeners interested in local events, news and personalities. Businesses focused on local listeners actually lead the growth in spot radio. Restaurants and auto dealers take the first two positions while home furnishings and entertainment venues rank among top six.
- Special interests – Usually radio stations target different audience with different tastes enabling advertisers to target different interest groups or different age groups with minimum waste. A variety of music programmes give advertisers a choice to target teenage audience with interest in jazz or older audience interested in classical music, or general audience.
- Coverage – Radio helps small businesses match ad campaigns with particular geographical locations. Small businesses especially the local ones can make use of local and regional stations to reach local listeners while small businesses that target national market may advertise on national radios using which in combination with an ecommerce website they can reach national audience.
- Cost – Low cost is perhaps the most alluring feature of radio advertisements. It’s a less pricy option if compared to the rates for reaching similar audience through print or TV media. But the rates may differ by region to be covered. It is obvious that targeting regions with densely populated areas will be pricier than the regions with less population. Production costs for radio advertisements are much lower than that of other media. Even you can create your own simple radio ads while you can hire a production company for a more complex advertisement. Some radio stations offer low-cost and sometimes even free production services to the marketers.
- Close contacts – Radio is certainly an intimate advertising medium. Many people listen to radio alone while they drive or jog. And this makes listeners have a strong bonding with their favorite stations as well as on-air personalities.
- Potential – Radio often offers various promotional activities supporting your ads enabling you to give away promotional items your brand and logo. Gradually, your radio station becomes a worthy partner of your success.
- Trust – Radio reaches an audience that trust the medium for genuine information like news updates, weather reports, sports reports etc. It also plays emotional role in the listeners’ lives. People turn on radio when they get ready in the morning, doing household chores or driving. This way, radio creates an advertising ambience which is hard to be created by any other media.
These are the reasons that radio stations especially the online ones are becoming immensely popular amongst the advertisers.