There have been numerous articles, studies and surveys on shift in consumer shopping preferences and behavior. While percentages for each survey may have varied, there was one consistent finding – Americans have increased their use of online transactions. The implication of this behavioral shift is not just limited to retail but also to banking – 27% of consumers agree that banks will be more flexible over the next two years.
Author: Jeff Schmidt, SVP/Professional Development, RAB
‘Trust me.” Ever have someone say those words to you? Or “I’m going to be totally honest with you…” Just saying those words is likely to raise red flags for the people with whom you’re talking. If people can trust you to be honest, why would you have to say it?
The challenges that the marketing, advertising and media community faced throughout 2020 and the first half of 2021 have been like nothing any business has ever seen or experienced before. These challenges brought opportunity and have demonstrated a collective resilience in nearly every sector of business.
The next frontier for radio has been shaped by many of the lessons learned as consumers, businesses and brands have leaned in to audio across all platforms as the soundtrack to their daily journey.
What is new is old. What is old is new. Radio trends born from past truths.
Forecasts reveal that digital is driving the advertising rebound in 2021 and, according to Tony Hereau, VP of cross platform insights at Nielsen, “Radio is the soundtrack of America’s recovery.”
Radio, across all of its digital platforms, has and continues to experience exponential growth, earning significant share of media consumption throughout 2020 and the post-pandemic. While over the air AM/FM radio accounts for 76 percent of the daily audio time spent with any ad-supported platform, understanding consumer behavior as they move across platforms and what motivates listeners is critically important for marketers who are poised to succeed in the rebound.
Next week we will celebrate Black History Month – an event that celebrates and recognizes the impact that Blacks/African Americans have had on our history. According to ASALH, the Association for the Study of African American Life and History, the theme for 2021 is The Black Family: Representation, Identity, and Diversity.
During RAB’s CES coverage, RAB, along with guests, discussed not only the change with CES from in-person to virtual, but also the changes in products and efforts by various tech companies. Shawn DuBravac, futurist and president of Avrio Institute, suggests when hearing about the products presented during CES, to zoom out of the individual product announcements and “look at the bigger picture.” DuBravac continues, “Push more broadly around products tying into their bigger goals and bigger desires… this is really going to disrupt the advertising market.”