Large corporations have the money to simultaneously spend in several different media. Small companies believe they should do the same. This is a mistake. It is better to focus spending to achieve frequency over reach. Do fewer things better, own what you do.
Trying to reach 100% of the market one time will not generate the sales that reaching 10% of the market 10 times, or 5%, 20 times will.
To do this…
Except for some highly specific products and services, about 70% of all radio stations will deliver enough listeners 18+ years of age who will either buy your product or service, or mention it to someone who will. Even highly targeted products or services, buying the other 30% of the stations, should buy people listening.
Suppose your business has 40 Customers a day. Bringing in three more Customers a day, is a 7.5% increase. Even a low rated station with a low cumulative audience of 20,000 has the ability to deliver those Customers to you. Negotiated correctly by MBT, that station will cost a lot less than the top stations. You don’t need to include the top rated stations unless they can meet the cost per person target.
Stations take great pleasure in presenting their internal research that shows how their station’s format will attract more of your specific Customers. Take it with a grain of salt, 70% of the stations in your market will deliver the same prospective buyers.
Stations love to sell spots. That’s because that’s how they manage, budget and measure their sell rate – off the spot inventory. You would never buy one spot, so why care what one spot costs? If buying X spots was the answer, every advertiser would like the results. They seldom do.
Some stations sell for the cost per rating point. This is the big agency stuff thought up to impress big companies. All you should care about is reaching people affordably, enough times to persuade them to buy.
Overall media research serves the purpose of justifying to the client what stations and spots the agency bought and that the right audience was reached efficiently. For large national advertisers it provides a standard measure for their media program.
For smaller businesses it is far better to…
You have a product or service people need, want, desire or are motivated to buy. It’s your message that will convince and persuade buyers that your product or service will solve a problem for them.
However, the best messages must…
Too many advertisers try radio, but abandon it too quickly before enough frequency is built to persuade the Customer to buy. Almost every advertiser reaches a point in the early weeks of a campaign where they begin to second guess the buy, the spot, the voice talent, the music and the stations. Overthinking leads to panic and canceling the schedule; a big mistake. It’s like taking all the money you’ve spent to that point, putting in a trash can and lighting it on fire. Avoid doing this.
Good radio advertising connects with the primary Customer and persuades them to buy. If the product or service has a long purchase cycle, such as luxury goods, appliances, automotive or insurance you can expect results from advertising to take longer, but keep advertising.
Trying to time advertising to buying windows seldom works, buy and persuade in advance of the purchase so the buyer has you on the shopping list, or thinks of you when it comes time to buy.
Advertising sales events can be effective to get today’s sales today, but it won’t help you build a brand long term. If the Customer consistently hears the sale ends Saturday. They forget what they heard every Saturday when the sale ends.
The ideal way to use radio is 52 weeks a year
But, it’s not about you or your company…
Bad advertising focuses on the company, its wide range of products, high quality, convenient hours, knowledgeable, friendly sales staff, blah, blah, blah. To the listener, it’s all just ad speaks. Avoid this kind of copy at all costs.
The best advertising speaks to and focuses on the Customer’s needs, wants, desires and motivations, MBT can show you how.
This does not always mean a discounted price. MBT can help you identify the compelling offer or story for your company.
Forget the dire predictions that radio is dead, it’s not. It’s still a great selling tool, if it’s used correctly and your message has the ability to tell, sell, convince and persuade.
Is listenership down slightly? Sure, but if that matters to you, we suggest going back and reading 1 through 5. It’s about people and their needs.
Let us show you…
When you’re ready for radio that works contact MBT.
Posted: 11/17/2016 at 1:05:30 PM