Mid-market companies should seriously consider online radio as part of their media investment.
If you’ve been reading my articles, then you know I believe a diversified media portfolio is typically better than a single course of attack. A plan that includes a proper mix of traditional advertising, alongside digital and mobile media normally produces better results. However, there is one highly effective but often overlooked online advertising opportunity that I want to discuss.
With the never-ending evolution of the internet and personal devices, live streaming has become the only way of life for millions around the world. You probably think I’m talking about streaming video, but I’m not, I’m speaking about streaming radio. And, consumers are listening to more of it on an increasing number of devices than ever before.
These days, listening to the radio station of your choice is no longer limited to the area in which you live, work or drive. Listeners now have access to the music they want all day, every day. For regional advertisers, online radio provides an expansion of your local radio advertising by reaching consumers listening in on smartphones, tablets, laptops and PCs from all over, day and night. The medium is a great way to serve up your ads for your regional product or brand to a larger, local and loyal audience.
The shift towards online listening is growing at a rapid pace for several reasons including greater freedom in terms of variety, choice and on-air personalities offered to the listeners. Without the limitation of geographical boundaries presented by terrestrial radio, online radio makes just about everything and everyone within reach.
And, even though the stations broadcast via the web, very few charge a fee to subscribe to their channels, which means that most are free. Whereas the average terrestrial radio listener typically spends about 30 minutes or so listening to the radio during a single session at peak times, today’s trends are allowing listeners to enjoy streaming radio stations of their choice anytime. This translates into greater benefits for regional companies advertising on online radio. The benefits here are two-fold and they’re two old friends not mentioned often these days:
1. Reach: A larger audience is listening because there are no geographical restrictions.
2. Frequency: Due to the ease and convenience of listening on any device, anywhere, people are spending more time listening.
In most cases, online radio ads cost significantly less than those on traditional radio stations. There is also substantial consumer research that suggests online listeners are more likely to act on your ads’ call to action. When online listeners hear an ad for a product that interests them, they are more apt to browse the web to investigate it or take an action immediately as opposed to later. While streaming radio shouldn’t do a regional company’s heavy lifting, it certainly is worth adding to their media arsenal.