How many times in your life have you, a friend, or a family member exclaimed, "Turn it up! I love that song!" or "I remember this song from [insert appropriate memory here]?"
Radio has the power to unite us in shared experiences. It instantly lifts our moods, takes us back to fond times in the past, or reminds us of loved ones. It keeps us updated on the world and connected to our communities.
Radio may evolve with time and technology, but it remains as relevant as ever. We can stream our favorite stations on our phones and computers when traveling or working, as well as listen to the radio in our cars and at home. For advertisers, streaming radio advertising means more opportunities for brand messages to reach an audience of engaged listeners. If you still aren't convinced of radio advertising effectiveness, let the following facts guide you.
Radio Advertising Popularity
Radio advertising remains popular for reaching and influencing audiences even as listening habits evolve. While some listeners favor digital streaming audio, others still listen to traditional radio. What's important to note is that they are all still listening to many of the same great stations regardless of the delivery method. Let's look at some radio advertising statistics.
Listener habits
In one survey, respondents report that their radio listening habits have changed in the past year, with 20% tuning into radio more often, 20% listening to streaming radio more often, and 16% tuning in at a different time of day.
Radio growth in recent years
The radio broadcast market is worth a staggering $23 billion. In 2022, the market's revenue is forecast to increase by 5%.
Streaming radio
Streaming radio in the U.S. has grown from 12% to 62% between 2007 and 2021.
Relevance
Radio advertising boosts listener awareness by 48%. Not only does it increase online browsing of the brand by 52%, but more than 50% of responses occur within 24 hours of hearing the ad.
Types of industries that use radio advertising
The industries that advertise on the radio are many and varied, including banking, financial services, and insurance (BFSI), healthcare, media, IT and telecom, retail and consumer goods, government, and private sector companies of all sizes.
Reach
Radio reaches 92% of American adults each week. Roughly 60 million adults between the ages of 35 and 49 listen monthly, and approximately 115 million adults over 50 years are regular listeners.
Likelihood of purchasing from a radio ad
77% of listeners say they are more likely to visit a brand mentioned by a trusted radio personality.
Trust and brand credibility
The listening audience's trust in their favorite radio personality is transferred to the brands they recommend. 83% of radio listeners value and trust the opinions of their favorite radio influencers.
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5 Reasons Why Radio Advertising Is Worth It
Radio advertising does more for businesses than ever in today's digital world as it extends to other platforms. Radio and digital advertising together create more of an impact than either has on its own. Radio stations have an online presence that offers another opportunity to impact your target audience in addition to the prerecorded or spoken on-air ads. The personalities that host the programming also have social media accounts that can help expand your reach through their following.
The popularity and consistent growth of radio advertising continue to provide valuable benefits to sponsoring businesses.
While there are many reasons that radio advertising is worth the investment, we'll summarize with our top five reasons:
- Affordability - Radio ads require less specialized production than other mediums, meaning they can be created quickly and affordably.
- Broad audience reach - Remember, radio is free, making it accessible to everyone.
- Brand awareness - Radio ad campaigns increase brand awareness by 128%.
- Customer traffic - Local radio is highly effective in driving foot traffic to your storefront and increasing online brand searches.
- The ROI of radio - With quick time to air, the ability to fit even modest budgets, and the added boost from digital, radio advertising returns significant ROI.
How Successful Is Radio Advertising? Let Mid-West Family Show You
Mid-West Family knows how to help businesses connect with their communities with our full-funnel marketing services. From branding, logo, and identity to digital and social media, we can help you communicate your brand identity and value proposition for more outstanding results. Our strategy and consulting services show you how to identify the right audience and craft effective messages to reach them. Contact us today so we can show you what a customized marketing strategy, including radio advertising, can do for your business.
