Cost-effective Advertising With Radio
April 9, 2018
Are you under pressure to prove the effectiveness of your marketing strategy? Getting the results you need starts by choosing a cost-effective advertising medium.
Although often overlooked, radio advertising has continually proven to be a cost-effective choice. Take the pressure off with cost-effective radio advertising campaigns, here's how:
In Ebiquity and Radiocentre's study into the value of different media, perceptions were challenged.
Over 100 advertising decision makers were interviewed and asked to rate different media based on effectiveness in key advertising metrics. Those results were put next to evidence gathered from various studies from Ebiquity's data pool.
The results? Radio advertising came out on top of many key advertising metrics, along with TV despite the perception that digital and modern media performs better.
Radio is one of the Most Cost-effective Mediums
One of the key areas in question was cost-effectiveness. Radio advertising came out well in both aspects of building a cost-effective strategy.
Radio advertising campaigns, through a combination of low cost audience delivery and low production cost as a percentage of media cost, are incredibly cost effective.
Based on Ebiquity’s data, radio advertising delivers a cost per thousand of £1.54, the lowest media cost per thousand by a distance.
With low cost per thousand, resources can be spread more effectively to create a more encompassing campaign.
Independent research agency Differentology tested ads for six consumer goods brands on six groups of 600 people, and compared the effect of two TV ads with one TV ad and two audio ads.
While two TV ads helped to boost the average number of times a consumer would consider a brand, one TV ad and two audio ads had an additional 6% benefit and was about 15% cheaper – making radio advertising more than 20% more cost effective.
Radio Advertising Supports and Enhances Multi-Channel Advertising
An effective campaign will meet your customers where they are most likely to engage. In most cases, this means you’ll be advertising across a few channels. This is a highly advisable approach and one radio has moved to support.
Radiocentre's study, Radio: The Brand Multiplier found that 'When included in the mix, audio advertising significantly increases the effects of brand communication over audio- visual advertising alone'.
This share of mind approach extends to online brand browsing with exposure to radio advertising boosts brand browsing by 52% based on results published in this study.
When results are what you need, radio advertising has you covered by not only offering great return as a medium, but also by supporting your other marketing efforts.
What Can Radio Do For You?
If creating a campaign that's both cost-effective and result assured sounds like a sound investment, click the button below to get in touch with one of our account managers.