How radio can help an advertiser's business during the current crisis.
The rapidly escalating uncertainty caused by the spread of COVID-19 is already having a negative impact on the UK economy. This is important for all of us working in the world of commercial media because decisions about marketing expenditure are highly sensitive to how the wider economy is performing. But while there's very little we can do about the economy, we can take action to address the pressure that economic uncertainty places on advertising budgets.
Companies that increase spend during a slowdown increase profits much faster during recovery...
Times are tough but radio audiences are likely to be boosted throughout the current crisis, offering advertisers the perfect opportunity to both drive short term results efficiently and boost profitability and market share in the longer term.
Four ideas to help you stay ahead of the competition
1) Benefit from increased audience availability Radio listening increases as the medium's role as a trusted friend is used to lift people's spirits as
they work from home and keep them in the loop with the latest news 2) Make the case for continued investment Evidence shows that maintaining ad spend during a slowdown boosts profitability and
market share during recovery 3) Re-evaluate the media mix Adapting the media mix to incorporate more efficient media can bolster overall advertising
effects; radio advertising can be turned around quickly to respond to market changes and
boosts campaign effectiveness across a range of metrics 4) Keep an eye on the longer term With greater emphasis on short term activation it is still important for advertisers to consider
brand effects; adding radio to the mix boosts every kind of advertising effect, from short term
activation to longer term brand equity
Source: egta. 2020 Radio