The practice of radio media buying remains a lucrative media market as we continue into the second fifth of the 21st Century. Media buying is the science of media planning, research, and campaign strategizing. The media market has ballooned over the last 20 years, and Google and Facebook hold the largest share of U.S. digital ad spending, with 38.6% and 19.9% respectively, according to WordStream. Radio is a smaller portion than television, however, and it makes sense that buying in the radio market is more affordable to smaller organizations than TV. Making sense of the radio media buying market helps executives budget their media. Let’s take a closer look at this type of marketing.
What Is Media Buying?
As stated above, media buying is the art and science of planning, research, and campaign strategizing for media. The factors that go into the media buying decision and how to price advertising time center the market and its needs. Ad time in Minneapolis-St. Paul, the fifteenth largest market in the nation, will be less expensive than ad time in New York, which is the largest. Meanwhile, advertising in Minneapolis-St. Paul will be more expensive than Portland, Oregon, the twenty-fifth largest. Your budget can depend on where you’re located in the United States, but we can let you know how much it would be when you get in touch with us.
Where Does the Radio Fit In?
Radio buying is a lot like other areas of media buying with buys of airtime for certain periods of the day. The Cypher Agency informs us that radio ad buys are 30 to 60-second spots during parts of the day and on channels that the buyer’s target market is likely to be listening to. Business-oriented ads, for example, are mostly targeted to news and popular music stations during morning drive times to reach senior corporate officials on their way to work. Advertising focusing on music events and nightclub events are targeted during evening drive, to excite workers about events that will happen during their evening relaxation time. These are just two of the possible types of ads to buy during the day.
With some basic principles, radio media buying can help your organization meet its goals. Making sure that the media buying process works for your budget and goals is crucial. Ensure you have the tools and the team to make the most of your radio media budget, starting with the right media to reach out to your customers. Even in the era of the internet, radio advertising still gets big results. Call our team today for more information and a free consultation.