Business leaders and statistics predict 2021 to be an excellent year for radio advertising. Though we are starting to see the end of the pandemic, we are all still very much indoors and locked down. Consumers turn to digital content for entertainment and information, and these are mediums where businesses should look to capitalize on new customers.
The Radio
Many companies will overlook and underestimate the radio in 2021. The growth of video and streaming platforms indicates that many people consume their content through audio and visual means. If you look at the numbers, though, many consumers are still listening to audio-only platforms. This content is in the form of music, podcasts, radio shows, and broadcasts.
If we look at radio’s history as a medium, it is older than television and the internet. However, since it is still around today, we know that the radio has evolved and adapted to still have a place in the market. Though audio content has changed, consumers are still tuning into these programs.
As a mainstay form of media, businesses should see the radio’s value because of its ability to adapt and reach audiences in ways that video cannot. For businesses, audio platforms remain lucrative places to find audiences and convert them into customers.
Benefits of Advertising Through Streaming Radio Platforms
BIA Advisory Services predicts the US will spend $12.6 billion in radio advertisements. In 2021, the radio is among the top 5 most popular forms of media consumers will use. The reason businesses combined are willing to spend this amount of money on radio advertisements is that they recognize that the radio offers many benefits.
A platform can take an advertisement from a company and run it during one of its broadcasts. Any listeners who are tuned in will hear the ad.
High Engagement Rates
Radio advertisements with banner ads have shown to be a lucrative form of marketing. Ads listeners can’t skip but are well-made show a 24% higher recall rate than regular ad displays online. Another statistic shows that 60% of podcast listeners purchase from advertisements that appear on their favorite podcasts.
We can see that good advertisement placed in the right shows can convert listeners into customers. Radio ads allow businesses to serve the people who need their products.
Digital Radio Tracking
Since many people listen to their radio online, businesses can directly track which of their ads are the most effective after running them with the radio platform. Companies need to keep track of which of their ads meet their audiences and have the most effect. Companies can use digital audio ads to monitor customer behavior and then make better radio ads in the future.
Cost-Effectiveness
Radio ads tend to cost less than video ads. Since they are usually shorter and do not require any visual content—they are cheaper to produce and broadcast. Businesses can have a comprehensive and specified reach with their ads without spending as much money to get to their market.
Advertise on the Radio
At Live Audio Ads, we want to help businesses meet their customers who listen to digital radio. We help our clients get their ads on platforms like Pandora, TuneIn, and iHeartRadio.
We’ll help you make your ad, find your audience, and then broadcast your ad with cover banners so your audience can click on your page from right on the platform. Let us help you get your brand name out there through audio media.