By Irina Skaya
Since streaming radio and MP3 file trading emerged as the new medium champions, advertisers became less hopeful about the future of radio. “Radio is the Cinderella medium,” said David Ogilvy, comparing radio to the poor stepdaughter of media.
Unlike its stepsisters, radio continues to be a unique medium because:
1. It has a greater and a more immediate impact on its listeners because all of the attention is devoted to one sense: sound.
2. It fosters imagination and produces active and intellectual listeners.
3. It offers the opportunity to be with the consumer at the right time to cue behavior and purchase - flexibility which TV and print may not offer.
While television is a powerful medium, it gives consumers the freedom to turn their heads away and to close their eyes. According to Erwin Ephron who presented at our last Integrated Marketing Committee meeting, TV Reach requires at least two exposures, which may be unaffordable. Radio is more cost-effective than TV in delivering that second exposure that is required to reach light-viewers missed by television ads. Thus, TV/Radio schedule will easily out-perform TV alone in reaching consumers.
Some of today’s most successful radio stations use digital components and drive their listeners to the web for additional information, such as photographs, videos, and blogs in order to incorporate saliency. With the great amount of radio stations streaming their programming via the Internet and satellite radio, radio is enjoying a true resurgence.
Radio advertisers need to recognize new technologies, such as digital HD or online streaming as future growth opportunities. But the industry must be able to work together as a group to affect that change, and do it in an expeditious manner. Radio advertisers must embrace entrepreneurship, collaboration, and communication in order to revolutionize the industry. By wearing the right pair of glass slippers, radio like Cinderella can sparkle in its own light.
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