The line that separates media and marketing is blurring as advertisers continue to reach their target audiences across devices and platforms. While some media are struggling to find ways to best serve advertisers in their quest, radio is providing them with alternative solutions.
Broadcast radio stations continue to sell digital advertising but they are also increasing their portfolio by selling digital services. According to research released jointly by the Radio Advertising Bureau and advertising research firm Borrell Associates, “Benchmarking: Local Radio Stations’ Online Revenues,” broadcast radio’s digital sector is projected to grow 22% in 2017, to $753 million.
Growth within radio’s digital sector is no longer based solely on banner ads. The greater majority of stations attribute social media management, paid search mobile marketing and email advertising as the greatest contributors to that growth.
Local radio advertisers are admittedly decreasing their traditional media budgets to help fund their digital efforts, but radio sellers are seen as more than that. Within this same research, nearly 2,700 local radio advertisers were surveyed and 83% see their radio reps as being marketing savvy. In addition, six out of ten of these advertisers stated that their reps possess digital knowledge.
These same local advertisers rank radio as one of the top 3 electronic platforms to reach new customers, well over other traditional media. The remaining top 2 were social media and the advertiser’s company website. Word-of-mouth from prior customer experiences was the top non-electronic source.
Radio’s continual revenue growth in the digital sector is indicative of the confidence that advertisers have in: 1) radio as a medium to reach their target audiences and 2) the services radio stations provide that help them increase their in-store sales and online activity.
Are you a local advertiser or do you know one that feels the same? We’d love to hear about them. Share their success using radio with us.