Local Radio Reigns Supreme

Earlier this month, the Los Angeles Times reported on the shuttering of a chain of Eastside community newspapers. One article even went so far as to say, “Local and regional newspapers that serve Southern California are going through tough times, leading some to question whether traditional newspapers can survive.” Radio has always been there – now it is even more valuable! The importance of local radio to the local community can’t be understated.

The challenge for local Newspapers has been how to sustain a newsroom and make a profit when print advertising is fleeing to lower-cost space on the Internet.  Most digital ads are concentrated on Facebook and Google, not newspaper websites. These two Internet giants take in 60 percent of online ad revenues.

Radio was shown as the most trusted platform used after the impact of hearing about “fake news” in political coverage.  See below for the Kantar “Trust in News” study where it was revealed ‘mainstream news media’s’ reputation remained largely intact while social media and digital-only news platforms sustained major reputation damage. In addition, Facebook and other digital platforms are not designed to promote civic connection, but rather communities of interest often unmoored from particular geographies.

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Radio Delivers For Local Businesses

 

Small businesses are thriving and looking at 2018 in a positive way, and radio is the perfect vehicle to help them meet their 2018 revenue expectations and goals. Each year BIA/Kelsey conducts Local Commerce Monitor™ (LCM), a survey that tracks small-business advertising and marketing spending, buying preferences, and reported return on investment. Within the LCM, BIA/Kelsey also examines franchises. A franchisor licenses its know-how, procedures, intellectual property, use of its business model, brand, and rights to sell its branded products and services to a franchisee.

In the past year, strong economic growth has led to an increase in spending by small and medium-sized businesses (SMBs) and franchisees on advertising and marketing.

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The Power of a Sonic Brand

 

Ba da ba bah bah.  Bah ba da bah duh bum bum.  Ding ding ding ding ding.

That looks like gibberish or baby talk, but when you HEAR it, they are iconic brand audio signatures from McDonald’s, Farmer’s Insurance and T-Mobile.

There has been an exhaustive amount of research done over the past several decades on the power of sound and how it impacts moods, influences product sales, influences consumer spending, stimulates our brains, aids in healing, is reassuring, keeps us company and triggers all kinds of reactions.

According to Harvard Business Review research, the strategic use of sound can play an important role in positively differentiating a product or service, enhancing recall, creating preference, building trust, and even increasing sales.

At the end of 2017, Veritonic released an update to their groundbreaking audio logo index that objectively examines and measures the impact of audio signatures through their proprietary EchoTime™ technology that tracks emotions and engagement among an online panel of more than 1,000 targeted panelists.

Key findings from the study include:

  • Jingles increase success
  • Brand audio logos/cues enhance uniqueness of message
  • Clarity and focus on a product drives purchase intent
  • Multiple product mentions in a single spot diminishes impact
  • Emphasize your products, not the competition
  • Millennials respond more positively than older adults

So you see, a brand’s audio signature is incredibly valuable and should be leveraged in radio.  The sound of a narrator’s voice, the music featured in the commercial or a slogan can trigger an immediate consumer response and for new radio advertisers, perhaps they already have an audio asset that can be transformed for impactful radio.

For more information on Veritonic, the Audio Index methodology or to view the full executive summary, click here.