To maximize you brand’s return on investment, consider advertising through radio means.
In regards to radio advertisement effectiveness, it has been met with a generally positive return on investment (ROI) across a variety of factors. The capabilities of radio surpass other mediums in regards to costs, returns, and efficiency.
A Smart Investment
Investing in radio advertisements has proven to be a financially-smart decision based on various brands’ ROI. On average, brands that advertise through radio get their money back over 7 times over. Effective marketing strategies and well-planned out timing has led to lucrative advertising campaigns. Additionally, most of these brands have a standout presentation and ensure that their message is clear and fits well with the brand.
Another important factor that boosts overall ROI is both coverage and frequency, with the latter having a slightly higher advantage. Furthermore, they both have a direct correlation and statistical link between each other.
Statistically Proven
Both the old and new generation make up the whole of radio listeners. Surprisingly the Millennials have a slight advantage when it comes to the mass number tuning in. Over 66 million Millennials continue to use the radio each week. According to Steve Doctrow, of Rogers & Cowan, both advertisers and marketers are incorporating their advertisements in newer platforms that are available to the younger generation.
If brands were to relocate their budget from other media towards radio, expect there to be a drastic increase in overall campaign ROI – up to even 20%. It should be known that radio has the second highest return on investment in regards to mediums – with television being the first.