Radio Connects

https://lnkd.in/gcUMBken Recent research conducted by Radiocentre and Colourtext has revealed significant shortcomings in the typical short-term attribution models used to assess the impact of #radio #advertising on performance campaigns in a study titled “Radio: The Performance Multiplier.” This study, which involved a detailed regression modeling analysis of 1.6 billion multimedia impacts across 30 million web sessions from in-market campaigns, has shown that radio advertising’s true performance effect is underestimated by an astounding 92% due to current attribution methods. The research demonstrates that it takes a full 19 hours for the effects of each radio advertisement to be fully realized, challenging the conventional measurement approach that captures only 8% of an ad’s effectiveness in the first 20 minutes following transmission. When the full impact of radio is accurately accounted for, the medium is shown to significantly enhance performance-led media campaigns. Specifically, radio advertising was found to boost daily web sessions by 9% and achieve these results twice as cost-efficiently as other demand-generation media. Campaigns that utilized radio effectively showcased higher weekly reach and incorporated distinctive audio branding elements, yielding above-average performance efficiencies. This indicates that the strategic use of radio can substantially elevate campaign outcomes. The influence of radio advertising extends beyond immediate web traffic and sales conversion rates. The study found that radio ads significantly boost organic search volumes and enhance paid search impressions, leading to better conversion rates and heightened paid social ad responses. This suggests that audio advertising not only serves direct marketing goals but also amplifies broader digital marketing efforts. In terms of strategic implementation, the study advocates for a greater integration of radio within the media mix. By reallocating budgets to favor radio – or simply increasing the medium’s share of existing budgets – companies can enhance their overall campaign performance at no additional cost. This approach leverages radio’s ability to improve both short and long-term marketing goals, maximizing return on investment. Looking at the long-term, radio advertising proves to be a formidable tool for building brand loyalty and recognition. It helps create a stronger network of mental associations for brands, making them more memorable and top-of-mind during the consumer buying process. These findings underscore radio’s dual strength in driving immediate consumer action and fostering enduring brand relationships.

https://lnkd.in/ga_5JqHD Are you ready to elevate your sales team to new heights? Join us for an exclusive, free webinar presented by the 2024 Radio Masters Sales Summit that promises to transform your management approach and boost your sales performance! Help Your #Salespeople Maximize Their Sales Performance: A Live Webinar with Matt Sunshine and Cameron Coats Dive into the art of #sales management with The Center for Sales Strategy Managing Partner Matt Sunshine and Radio Ink Online Editor Cameron Coats. Designed specifically for managers, this 30-minute session will explore effective strategies to enhance your team’s productivity and drive results. Webinar Highlights: Mastering the Weekly 1-on-1: Learn the key components of impactful individual meetings. Field Day Fundamentals: Discover how to make the most out of your time in the field with your sellers. Feedback that Fuels Growth: Gain insights into giving feedback that motivates and inspires. Coaching vs. Training: Understand the critical differences and identify the right approach for various situations. Matt Sunshine is recognized for his expertise in growing sales organizations and developing top sales talent, specializing in sales process, lead generation, inbound marketing, and digital marketing. He is a frequent contributor to Inc., Sales and Marketing Management, Sales Hacker, and Entrepreneur. Sunshine has been named by Forbes magazine as one of the “20 Speakers You Shouldn’t Miss the Opportunity to See.” #radio #radiosales

https://lnkd.in/gpJ5pUfK Inflation may be receding, but more than 60% of consumers say it’s still a concern — and even more say they’ll trade down on quality for price. So says Bread Financial’s “Mid-year Update: The State of the American Shopper.” It says 36% say they’re spending the “same” vs. 2023, up from 33% in October 2023. Thirty-three percent say they’re cutting back on store trips, and 31% comparison-shop more often. Sixty-three percent are worried about inflation. But consumers are less worried about personal finances (35%, down from 41% in October) and employment (20%, down from 23% in October). A majority (54%) of consumers are actively reducing spending. More than three-quarters (76%) are willing to sacrifice quality for lower prices to save money, while 40% say they’re cutting back on non-essential purchases. Additionally, Bread Financial observed that 42% of consumers are choosing to shop both online and in-store to secure the best deals available. Moreover, consumers are diversifying financing methods for everyday purchases. For purchases under $500, 48% prefer using bank-branded credit cards, 31% opt for retail store or co-branded cards, and 21% choose buy now, pay later options. “Inflation will continue to be a major factor for consumers as we head into back-to-school and the holiday shopping seasons,” Bread Financial’s report says. “Brands need to offer compelling products at the right price, engage across channels with effortless experiences and provide a variety of payment and financing options to meet customer needs and expectations to win the sale.” #radio #radioadvertising

https://lnkd.in/gAWwbXVe Last year wasn’t the best of times for the #homeimprovement industry — with some product categories for professional and consumer markets seeing negative growth — but research from the Home Improvement Research Institute finds that happier days could be ahead as 2024 progresses. That’s good news for the space overall, which features two of radio’s foremost advertisers: Lowe’s and The Home Depot. They ranked No. 2 and 3 overall, respectively, in the latest Media Monitors spot count. That’s not to say the sky is entirely clear. According to the HIRI’s “Spending Patterns in a Changing Market: Home Improvement Trends During and Post Pandemic,” about 65% of homeowners cite inflation as a top concern over the past 12 months, while 57% said the economy in general. “Inflation, rising remodeling costs, and stagnated incomes are influencing homeowner readiness within the home improvement industry in 2024, although not equally across the board,” HIRI says. “Certain demographics remain interested and eager to take on new projects, while others are more hesitant or might choose smaller DIY projects instead of large-scale remodels and renovations. Among the top trends driving homeowner sentiment: The overall market is getting better: After a 1.5% decline last year, growth is ticking upward, according to HIRI’s Monthly Economic and Industry Update from June 2024. Growth is expected to continue from 2025 to 2028, topping $642.3 billion by the end of 2028. Many homeowners are ready for a change of scenery: “A majority of homeowners would potentially be interested in moving to a new house, if interest rates and availability were to improve,” HIRI says. “A quarter of them are currently locked into their existing home, having secured a mortgage rate lower than 3%; they are hesitant to give that up.” When it comes to spending, past is prologue: While prior expenditures are often an indicator of future projects, there’s a caveat attached. HIRI’s report says “locked in” homeowners, on average, spent an average of about $7,000 on home improvement in the past year — and they anticipate spending even more in the next 12 months. Homeowners want to enjoy their surroundings. HIRI says getting more enjoyment out of one’s home is the top motivator for a home improvement project in the past 12 months. It’s followed by updating the “home’s style.” That said, remodeling projects like expanding a home and making a dwelling more energy efficient generally result in the most spending. #radio #radioadvertising #radioworks

After a year of development, the Association of National Advertisers has released a marketing ethics framework that it says aims to promote a common set of rigorous standards for ethical marketing. The ANA’s “Ethics Code of Marketing Best Practices” framework and resource guide brings together existing ANA guidelines with a range of best practice recommendations for marketers. By addressing issues including artificial intelligence, privacy, advertising to children, and diversity and inclusion, they hope industry self-regulation will keep state and federal regulators at bay. One area of particular interest is the ANA’s first guidelines around the ethical use of AI in marketing. To ensure that AI technologies are deployed responsibly and ethically by marketers, the Ethics Code outlines a range of best practices, including the standard that marketers be transparent about their use of AI in their campaigns. “Consumers should be given clear or easily accessible notice of the use of Generative AI in audio and/or visual advertisements when the failure to disclose... is likely to materially mislead a reasonable consumer as to the creation of the advertisement,” the guidelines say. They recommend a notice be provided through steps such as an audio or video disclaimer within the ad, a watermarking system, or use of a standard icon. And when the use of AI involves political advertising, the guidelines say consumers should be given “clear or easily accessible notice” that a commercial includes AI-generated content such as significantly modified speech or if the content depicts speech, conduct or an event that did not actually happen. Among the examples of unethical ad behavior surrounding AI would be the use of a deep fake “celebrity” endorsement, or if the AI-generated infringes on the intellectual property rights of others. The ANA Marketing Ethics Code also recommends advertisers avoid using stereotypes in their ad creative, along segments such as gender, race, ethnicity, sexual orientation, gender identity, ability, religion, socioeconomic status, body type, or age. It suggests marketers and advertisers should consider developing a supplier diversity strategy, to place more ads with media outlets owned by women, minorities, veterans, LGBTQ+ people, and people with disabilities, or with small businesses. The Ethics Code was designed by industry leaders. The ANA Marketing Ethics Code Steering Committee met over a six-month period, between May and December 2023, to help shape generally accepted principles of conduct for all media. The Ethics Code was then released for member input prior to publication. ANA says the code will be regularly reviewed and amended to address changing technologies, marketing practices, and legal requirements.

Our Stand-out Ad for July comes as part of Unilever’s biggest ever media campaign for Walls Ice cream.🍧This radio ad cannot fail to make you smile and get in the mood for a lolly- even on the wettest of July days. Running throughout June to the start of August, the ad has great synergy with the wider campaign, utilising the same upbeat track ‘Walking on Sunshine’ by Katrina & The Waves, as seen in the TV and Online Video ads. Driving positive emotions throughout for the listener with humour and of course the music, the ad aims to build emotional equity for the Masterbrand, reminding the audience of its heritage with a consistent strapline ‘A taste of happiness since 1922’ across the whole campaign. Drooling for more? Head to the link in the comments to hear the ad...

https://lnkd.in/gZFnSQ-H Liquor Brand • Web Lift A #liquor #brand partnered with Katz Radio Group on an AM/FM radio campaign designed to increase brand #engagement in two key markets. To help make their mark, the Brand tapped into the power of #local #radio personalities, entirely using DJ endorsements to get their message out. Katz Analytics, powered by AnalyticOwl, provided campaign feedback, matching radio log times with the Liquor Brand’s web traffic data to provide a holistic measurement of radio's impact on web engagement. ON-AIR INFLUENCERS DRIVE ONLINE ENGAGEMENT  The study found that the radio campaign successfully drove web #traffic to the Liquor Brand's site, resulting in an incremental +14.3% lift in web traffic attributed to radio. The Brand's reliance on DJ endorsers helped it deliver well above the liquor category norm of +4.3%. The Liquor Brand also saw a lift in online activity when the radio campaign kicked in. Comparing on-air days to the weeks prior to the campaign start, the Liquor Brand's web traffic increased +13.9% when radio was on air.  The study provided the Liquor Brand with evidence that the radio campaign was effective at driving online engagement. By utilizing local on-air influencers, the brand broke through with their messaging and generated measurable results.  

https://lnkd.in/gUAqrbbc Financial Institutions • Brand Lift #Financial institutions need to convey a wide range of #brand attributes in their messaging in order to distinguish themselves from competitors and win over prospective clients. With its mass #reach, #local influence, and receptive audience, #radio is an ideal platform for these financial brands to make people aware of their offerings and grow consideration among consumers.  Katz conducted brand lift studies for two commercial banks running robust radio campaigns across the country during 4th Quarter 2023. The studies found that both brands' investments in radio successfully boosted interest in opening a bank account with them. Brand consideration increased an average of +20% among those who heard the campaigns.   BANKING TARGETS ARE RECEPTIVE AND RESPONSIVE TO RADIO ADVERTISING Not only were listeners more likely to open an account with the respective bank after hearing #radioadvertising, they were more likely to take other actions as well. 64% of consumers said radio advertising could encourage them to learn more about the bank itself, and about opening an account in the future. A reason that radio #advertising helped grow brand consideration and the desire to learn more is that listeners are receptive to financial ads on the radio. 8 in 10 listeners believe it is smart for financial companies to use radio advertising to make people aware of their offerings.  Katz's study provided evidence that radio positively impacted key metrics for financial institutions. Listeners were receptive to banks using radio ads to promote their offerings and more likely to take action after hearing them. The radio campaigns successfully broke through and resonated among target consumers, leading to greater brand consideration in the near and distant future. 

https://lnkd.in/gFnitZB6 #Casinos are more than just slot machines and table games, they are entertainment meccas offering other enticing options, such as dining, spas, pools, and concerts. Katz's latest case study finds that #radioadvertising for these destinations is part of the "winning hand" for casinos to get people excited about their offerings and grow intent to visit.  CASINOS PLAY THEIR CARDS RIGHT WITH RADIO Katz conducted a series of #brandlift studies for casinos running robust #radio campaigns. The studies found that the three brands' investments in radio successfully boosted interest in visiting the casinos. Consumer intent increased an average of +22% among those who heard the campaigns.   CASINO-GOERS ARE RECEPTIVE TO RADIO ADVERTISING Respondents in all three studies proved to be open and responsive to radio advertising, helping contribute to the #brand lift. 7 in 10 believe it is smart for casinos to use radio #advertising to make people excited. 63% of those interested in visiting a casino believe that radio could encourage them to learn more about the casinos for a potential visit in the future. Whether visiting the casino's website, reading reviews, or talking to friends about it, radio acts as a catalyst for consumer interest and action. Katz's study provided evidence that radio is a sure bet for casinos looking to impact key brand metrics. Casino-goers were receptive to radio ads to promote their offerings and more likely to take action after hearing them. The radio campaigns successfully broke through and resonated among target consumers, leading to greater brand consideration in the near and distant future. 

https://lnkd.in/gRg2ys78 Here is this week's Luminate Data Market Watch report which features Canadian music stats for the current week and YTD with comparisons to last year. This chart is published every Tuesday. The abbreviation "TEA" is a term used to describe the sale of music downloads or singles. A track equivalent album is equal to 10 tracks, or 10 songs.