“Half the money I spend on advertising is wasted; the trouble is I don’t know which half.”
– John Wanamaker, Merchant (1876)
If advertisers thought it was difficult navigating their marketing options over 100 years ago, imagine the empathy they would feel for you today. In a media landscape more diverse and fragmented than ever, the best advertising platform to buy is the one that delivers the most impressive return on investment.
In a study presented by Nielsen Catalina at the Advertising Research Foundation conference, radio was the clear winner with a 6:1 advertising return on investment.
“An ROI double that of even the best results from many recent studies of digital or TV media.” (Advertising Age)
Ten brands were used for the study. There were 14,000 households who had their radio usage and retail purchases tracked. The final results were that radio advertising averaged a sales lift of more than $6 for every $1 invested.
Leslie Wood, Chief Research Officer at Nielsen Catalina said she was particularly surprised by the strong showing because radio ads don’t get as much creative pre-testing as TV. She believes one reason why radio was so successful may be people’s affinity to their local radio stations. “If you live in mass transit market you probably don’t drive so you may never listen to radio. The rest of the United States does and it’s shocking how connected people are to their radio.”
Andrew Robertson, CEO at BBDO, one of the biggest advertising agencies in the world shared similar feelings about radio advertising. Appearing on the Bloomberg Channel he was asked, “What do you make of radio advertising?” Robertson replied, “There are still huge, huge radio audiences and frankly it’s a massively under-utilized medium because people don’t think to use it.”
iHeartMedia works hard to understand the goals advertisers have and help determine benchmarks for your success. That’s our role as a marketing partner. Our primary objective is to deliver results and to develop strong, true partnerships.
It’s by identifying goals and monitoring results that iHeartMedia can establish benchmarks and data to maximize your advertising ROI. We do this with a series of important questions, including:
- What’s your average sale?
- What’s the average gross profit margin per sale?
- How do you measure your marketing results?
Traditional sales and marketing funnels begin with a goal. That’s when iHeartMedia is able to put our assets to work for you. We utilize top talent and radio creative to attract consumer interest and expose your message with the proper frequency to generate results from our radio station’s loyal listeners.
Let iHeartMedia help your business build awareness, increase connections and drive sales. Talk to our marketing experts and ask how to create a winning ROI custom campaign to meet your needs.