Even amid the relentless rise of digital advertising media, television reigns over the diversifying platforms. In a survey conducted in October 2021, 50% of US advertisers said that video is the most profitable and beneficial media type in hitting business goals, with 47% believing that TV takes the top spot – a notch lower than digital video’s 46%. Several big-name brands also acknowledge TV's supremacy in achieving their key performance indicators (KPIs) throughout the marketing funnel. Indeed, TV is indispensable for tapping broader audiences and creating comprehensive brand awareness.
All marketers know that leads are the number one metric for marketing campaign success. 67% of companies in the U.S. consider lead generation the sole benchmark to determine whether their advertising strategies are effective. Leads are especially critical for gauging the effectiveness of TV or radio commercials in direct response ad campaigns. They dictate whether dollars spent on advertisements will turn a profit or result in a deficit. Since direct response ads' primary goal is to generate leads and drive them through the sales funnel, businesses using this marketing technique must pay close attention to this data.
There are only three key aspects to remember when you hear direct-response advertising: engaging content, a tempting offer, and a persuasive call-to-action. Direct-response television or DRTV marketing refers to ads that urge TV viewers to react by heeding a specific prompt. It could be a commercial promising a discount for consumers who visit a particular website landing page. It could also be a good deal of product or service for customers who call a given telephone number.
Direct-response marketing is an advertising strategy meant to prompt an immediate reaction from a target audience. In this setting, a business or organization communicates directly to its market to convince them to interact with the brand. Direct-response advertising campaigns are always customer-centric and personalized. These types of ads must have compelling content, clear-cut pitches, and decisive calls to action. Most of all, it must evoke a sense of urgency.
Radio advertising is one of the most dominant marketing strategies for offering exceptional returns on investment (ROI). Not only is it a lot cheaper than other media properties, but it also has the significant advantage of reaching a larger audience. The radio boasts a weekly reach of 82.5% among U.S. adults, each of whom averages 99 minutes of listening time per day. The majority of these 99 minutes are spent while commuting or traveling. Radio's portability promises advertising accessibility that enables marketing to occur in places and times that other media properties may have difficulty reaching or tapping into.
According to "Radio Advertising Global Market Report 2021: COVID-19 Impact and Recovery to 2030," the global radio market is expected to reach a compound annual growth rate (CAGR) of 6.1%, from $17.41 billion in 2020 to $18.47 billion in 2021. As forecasted by 2025, the market is expected to reach $20.32 billion at a CAGR of 2.4%.
The growth is mainly due to companies rearranging their operations as they recover from the COVID-19 impact, including restrictive containment measures involving remote working, social distancing, and closure of commercial activities that caused operational challenges.
As COVID-19 continues to spread like a wildfire in the US, with over 5 million positive cases, the country's economy remains in survival mode. The challenge to recover from recession is huge for almost all businesses. However, as the country tried to walk it over in the past few months, a lot of things have changed. The US retail industry is worst hit by the pandemic, brick-and-mortar retailers initially agonized to surpass the challenges and keep up with the fast-changing market trends, but surprisingly realized massive opportunities from the ashes to remain competitive and rise despite the impact of COVID-19.
An average American uses radio on a daily basis. But do you ever wonder how radio is being utilized on a typical day now that the world is on pandemic? According to the second quarter 2020 Share of Ear study released by Edison Research, the vast majority of Americans still listens to AM/FM radio. Despite the Coronavirus, AM/FM radio remains the nation’s leading audio platform with a 43% share of time spent with audio among persons 18 years of age and up. In fact, audio listening time increased during the pandemic as audiences stay inside their homes to look for sources of reliable information and entertainment.
The number one thing you're probably asking yourself right now is: "Will I make money running PI Commercials?" The business has been around for ages. PI means “Per Inquiry,” and its modern term is “Cost Per Call.” We prefer the old school terminology for PI Advertising. Going back to the question: "Will you make money?" YES! But the real question is always, HOW MUCH? What are you giving up in terms of your media time, and your personal time? And then, Is it worth it?
In today’s hyper-connected world, businesses must learn to capitalize on the exponential growth of communication through radio, TV and online media. If you are a business owner who constantly thinks of how to get leads and increase sales for your business, ask yourself this question: “How can I effectively and efficiently test out a new program that’s radio and TV-based, and build a system that literally generates thousands of calls a week?”
If this is something you like to happen, we at Airtime Media can give you a simple strategy on how to achieve it. Among so many advertising strategies, the power of spoken words may have greater impact in delivering calls and leads to your business.