Radio is one of the more traditional forms of media used to advertise and/or promote a business, product or service. Even in the age of streaming and digital, radio remains one of the more effective means of advertising and marketing, with many perks:
To truly make a dent in radio, buyers usually purchase a package that runs for at least a month (some may even purchase a package that runs for an entire year). The cost of spots and packages can vary by location. Some packages may cost about $2,000 to $3,000 a week in some bigger cities and metro areas, while smaller locations may run as low as a few hundred dollars per month. In comparison to TV and outdoor advertising, radio is very cost-efficient.
Wide Reach & Audience Targeting
The ability to schedule and place ad spots throughout the week at various times during the day allow for a wide reach. The ability to advertise across regions and nationally enhances reach for businesses with a broader geographic offering. Radio is the best form of media that enables target audience selectivity. Radio formats and music genre greatly influence the audience that listens to these stations. So, before placing ads on radio, you can gain access to statistics that detail average listeners per hour with demographic breakdowns. This research allows you to select the right audience for your message.
Timely Message Delivery
Placement flexibility is a huge advantage of radio. Buyers can have a spot produced, recorded and presented to the marketing within a few hours from when the decision to buy was made. Stations often include a production and talent fee with the package purchases.
While radio is still one of the more popular mediums, it also comes with its disadvantages:
Poor Attentiveness & Fragmentation
A primary drawback when it comes to radio is that people are often engaged in other activities while listening, such as focusing on the road, talking on the phone, etc. Therefore, you don’t get the same level of engagement as you would with other media. Also, it can take several impressions before a listener hears your message.
Lack of Visual Appeal
With television, there is a multi-sensory appeal, both visual and through sound. Whereas radio can only impact the consumer via audio. So, it takes very skilled and talented copywriters and voice actors to instill theater of the mind with the audience.
Complex National Buying Process
Placing ads for regional and national campaigns can get a bit messy. Big media conglomerates often own stations throughout the country but are fragmented across regions. As a result of this, national advertisers will sometimes have to purchase spots through multiple regional stations rather than through one national station.