Radio has been one of the biggest players in the advertising industry for almost a century. Besides providing entertainment to the listeners, it is the oldest and most cost-effective way to reach your existing and potential audience. No other medium can reach such broad target groups as radio can. Thus, many big and small enterprises opt for this influential and inexpensive route when selling their product or brand.
But, is radio advertising still prevalent in today’s digital age where consumers have the option to select from several advertising media? Let’s find out.
Why radio advertising?
Although new advertising platforms are gaining a lot of popularity, radio is still a desirable medium used for advertising the products and services. Further, according to a report by Statista, the radio advertising revenue across India was around 28 billion INR in the year 2019. And by 2024, this is expected to increase up to 45 billion INR marking a 10.1% growth rate between 2020 to 2024.
So, why is radio advertising gaining a lot of traction in 2019-2020? Here are three main reasons which explain the same.
1. Reaches diverse audience
The fact that radio reaches across many markets and target groups within a short period proves that it is the most prominent advertising medium to businesses. It not only allows you to deliver a simple yet powerful message to your diverse audience but also enables you to interact with them. Moreover, since radio is transportable, multiple segments of listeners can consume your message at home, work, local stores, or during their daily commute.
2. Grabs more attention
In today’s multi-faceted world, where businesses continuously struggle to grab the attention of target groups, radio advertising can be the best bet. As compared to other forms of advertising media, radio advertising is more attention-grabbing. It is all about creating engaging ads and sharing the message in a fun, creative way, thus leaving a lasting impression on the consumers. Plus, while people are tuned in to music on the radio, they are already in the ‘listening mode’, which makes it easier to capture the audience’s attention with your message.
3. Allows personalized advertising
With the introduction of services like Spotify, businesses can now create personalized content for their consumers. When a user listens to music through these services, companies can easily track their preferences and provide them with suggested content that matches their previous choices. This is also true with advertising.
While examining the listening patterns, businesses create ads for a specific audience that is more likely to buy their products. For example, those listening to children’s songs and rhymes are mostly kids or parents. Thus, companies will advertise for children’s toys and clothes to them. Similarly, advertisements for clothes, technology, gym services, etc. will be played for adults.
Wrapping it up
The radio may be the oldest form of advertising as compared to other digital counterparts, but it is still capable of generating remarkable results for advertisers. Further, the increase in smartphones and internet facilities has resulted in the growth of the online radio audience, which will further lead to the rise of the radio advertising industry in 2020 and beyond.
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