Despite the fact that consumers spend greater amounts of time surfing the internet and using mobile devices than ever before, TV and radio marketing still provide an impressive return on investment for businesses. In fact, TV advertising displays greater success with key performance indicators (KPIs) than any media source. According to recent data, adults spend 13 times as many minutes watching video on television than through the internet, and 23 times as much as on their mobile devices.
Image via Flickr by Joe Haupt
Radio is still a popular source of entertainment, particularly during those times of the day when individuals have limited use of the internet or access to a television. Particularly when combined with other digital efforts, TV and radio advertising have maintained their efficacy throughout the years.
Television Still Known as the “Giant Megaphone” in the World of Advertising
According to a study conducted by MarketShare, television advertising still serves as the “giant megaphone” of information dissemination to the public. This may come as a surprise to the many business owners who have shifted marketing dollars away from television in favor of digital media. People have indeed altered the ways and times during which they watch television, but they are as passionate as ever about its actual content. Marketing efforts that include TV, therefore, continue to provide greater levels of success with KPIs (based on new accounts and sales) than any other advertising efforts. TV advertising produces four times the return on investment than digital advertising does, according to MarketShare’s 2015 data.
Radio Fills Important Gaps
Radio, once the primary source of news and advertising, still retains a strong cultural presence and offers marketers several unique advantages over other advertising channels, including:
● Targeting a specific audience. The wide variety of radio stations allows marketers the ability to select only the stations that most appeal to their target audience.
● Harnessing the human imagination. Because radio advertising is limited to the use of sound, the human imagination tends to be more activated with the creation of images that fit the intended message.
● Time and cost effectiveness. Radio ads can be created on limited budgets and within a short amount of time, with far fewer of the specialized personnel needed to produce a TV or digital advertisement.
● Accessibility during travel. Many people listen to the radio during their commutes to and from work, while access to television and digital media is limited. This allows radio advertising to fill an important gap during which time the competition for consumer attention is greatly reduced.
A Combination Approach Is the Wave of the Future
As television, radio and digital media continue to evolve, many marketers have found that a combined approach integrating all three types of advertising allows all portions of the marketing funnel to be reached simultaneously.
If you’re interested in pursuing a career in advertising and marketing in an increasingly digital world, consider an online MBA degree from the University of Maryland.
Sources
http://www.adweek.com/news/advertising-branding/why-tv-still-most-effective-advertising-medium-165247
http://www.business2community.com/marketing/marketing-radio-still-effective-0619186#C6MYTe7BjO4QQLph.97
http://www.mdgadvertising.com/blog/why-television-advertising-still-rules/