Marketron

Category: Financial

What’s on the Horizon for Radio

Contributor: Nicole Ovadia, vice president of forecasting and analysis, BIA Advisory Services

The radio advertising landscape is in the midst of a dynamic transformation, but within this evolution lies a world of untapped potential. As consumer habits adapt and digital integration becomes the norm, key industries are reshaping their advertising strategies. Yet, amidst these changes, local radio stands strong as a resilient and potent force in the media mix – the fifth largest media when you examine the total local advertising marketplace.

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Radio Accelerates Website Traffic for Auto

Author: Annette Malave, SVP/Insights, RAB

What a difference a few years make. We have all seen it and experienced it. Although different, business is back from the impact of the pandemic. Shelves are full and automotive dealer lots are full. Automotive has gone from a seller’s market to a buyer’s market.

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Boomers are a Sales Opportunity for Businesses

Author: Annette Malave, SVP/Insights, RAB

In today’s advertising landscape, there is a great focus on Generation Z – what they like and don’t like. It isn’t that this generation isn’t important. It is that there is another that is often missed – baby boomers.

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Scams Targeting Small Businesses

Contributors: Kevin Frisch, Associate and Brad Deutsch, Principal, Foster Garvey PC

News outlets regularly discuss the impact of scams and fraud on individuals and high-dollar schemes that target large and established companies make headlines. However, less attention is paid to lower dollar frauds and scams targeting small businesses. Small business personnel may be more likely to make key mistakes in interactions with scammers, as they may jump at opportunities to save money on business essentials, and they shoulder significant workloads without the infrastructure or security tools available at larger businesses to protect themselves from scammers.

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What to Know to Drive Auto Sales

Author: Annette Malave, SVP/Insights, RAB

Purchasing or leasing a vehicle remains one of the events in life that consumers either look forward to or dread. There are so many options and considerations that can be overwhelming, and the current economic landscape and events can make it more challenging for auto-intending consumers to decide and commit.

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In Person or Online? Here’s What Auto Buyers Prefer

Author: Annette Malave, SVP/Insights, RAB

If you have spoken with anyone who has purchased or leased any vehicle within the past year, you will probably hear about the highs and lows of the process. While inventory may not be as big a challenge as it has been in years past, there are other difficulties.

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2022 – The Year of Local

Author: Annette Malave, SVP/Insights, RAB

Businesses. Retailers. Restaurants. Community. There has been incredible focus on everything local as consumers looked around and realized the role and impact local has in their lives. After all, it is great to travel, but “there’s no place like home.”

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The Three Holidays of America Under Inflation

Contributors: Maxine Gurevich, SVP/Cultural Intelligence and Steve Grant, SVP/Human Intelligence, Horizon Media

While the National Retail Federation reports that the 2021 holiday sales grew 14.1% from 2020 to $887B, inflation’s historic high will mean a different shopping season for 2022. Our data shows that 69% of all people are concerned or very concerned with inflation’s effect on their overall finances. But like much in the contemporary U.S. landscape, inequality and division are affecting the holiday retail season – people are experiencing three entirely different holidays depending on psychological reactions to inflation.

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Bank on Radio

Author: Annette Malave, SVP/Insights, RAB

Today’s economic environment is causing Americans to view examine their finances and the institutions they use for savings. According to Northwestern Mutual’s 2022 Planning and Progress study, the average amount of savings dropped from $73,000 in 2021 to $62,000.

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Farms – A Growth Opportunity

Author: Annette Malave, SVP/Insights, RAB

When most people hear about local businesses, the first thing that comes to mind are the brick-and-mortar locations that sell goods or offer services. While that may be true, there is another business that is not based as much on hard goods or services, but items that are served and eaten in homes. The business in reference is farming.

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Radio Partnerships with Brands on Social Media Matter

Contributor: Riley Genua, Director/Sales Engineering, ListenFirst

By now, we should all be familiar with branded content on social media platforms like Facebook and Instagram. Ticket giveaways, opportunities to meet well-known radio personalities, gift cards to favorite local restaurants and many more are now offered by radio stations through both live broadcasts and affiliated social media accounts, which are “presented by” a sponsor.

Of course, these giveaways are great for listeners, as they can seize an opportunity to see their favorite local or even national artist perform on stage or treat their family to a nice meal. But did you know how effective these partnerships are for the radio stations and advertisers themselves on social media?

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Radio – You Can Bank on It

Author: Annette Malave, SVP-Insights, RAB

A 2016 PwC publication stated that fintech (short for financial technology) would reshape banking. Based on a survey of banking executives, the article stated that, within five years of the article, 90% of banks expected growth of mobile applications. At that time, a little more than half of the respondents offered a mobile app for their clients, and 18% were currently developing one. Clearly, the pandemic has had a greater impact on services and offerings by banks and financial institutions.

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Financially Speaking, Radio Listeners are Confident

Author: Annette Malave, SVP/Insights, RAB

Going to the store lately is always an adventure and not for the reasons you think. The adventure isn’t about what is available for purchase but more about how much the tab will be. Prices are rising. According to the Consumer Price Index, food prices have risen by 3.4% over the past year, and apparel is up 4.2%.

With the increase in prices, what impact is that having on finances?

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You Can Count on Radio for Banking

Author: Annette Malave, SVP/Insights, RAB

There have been numerous articles, studies and surveys on shift in consumer shopping preferences and behavior. While percentages for each survey may have varied, there was one consistent finding – Americans have increased their use of online transactions. The implication of this behavioral shift is not just limited to retail but also to banking – 27% of consumers agree that banks will be more flexible over the next two years.

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Celebrating Black History

Author: Annette Malave, SVP/Insights, RAB

Next week we will celebrate Black History Month – an event that celebrates and recognizes the impact that Blacks/African Americans have had on our history. According to ASALH, the Association for the Study of African American Life and History, the theme for 2021 is The Black Family: Representation, Identity, and Diversity.

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The Rapidly Changing Consumer

Author: Annette Malave, SVP/Insights, RAB

As states are in various phases of reopening, consumers find themselves in various stages of their own phases. These phases continue to shift and change the behaviors that had once been routine to so many. In order to meet the challenges, needs and concerns of their customers, businesses will need to be nimble to best address and meet their customers’ expectations.

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Local is a Driving Force

Author: Annette Malave, SVP/Insights, RAB

Local truly matters. If there is one thing that everyone has learned during this pandemic, it is how important local businesses and communities matter – to everyone. When this all began, little did anyone realize how much walking into local businesses would be missed. You walk in, say “hello,” and if you frequent them enough, they call you by your first name. This event has been a very painful reminder of how much these local businesses mean to all of us.

Kelton Global, a consumer insights and strategy consulting firm, has been analyzing consumer behavior and sentiment since the onset of the pandemic. The most current data shows that 52% of Americans believe that the long-term effects of the coronavirus will be mostly positive than negative, and 9 out of 10 believe that there will be one positive change to come out of the outbreak.

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Radio Ad Categories Web Increases During COVID-19

Author: Annette Malave, SVP/Insights, RAB

It may be hard to imagine, but it was just a few years ago that headlines focused on how a particular generation was changing and impacting everything – from the workplace, to food and shopping. It is without question that 2020 will be marked as a year that impacted how and where all consumers shop.

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