Radio Marketing

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Feb 9, 2010 7:42 pm

Our team is debating buying some air time on a very largely followed conservative radio show in a major market East coast city. We are looking at about $6K per month for about 20 thirty second spots. The radio show seems to target our ideal demographic (should his about 200,000 or so 42-62 year old wealthy and educated people). We have no issue in investing into our business, but was curious about anyones past experience w/ return on investment. Good bad or indifferent, we'd appreciate any feedback. Thanks in advance.

Feb 9, 2010 9:05 pm

Can you get the show's host to voice over the ad?  Grab that captured audience with an "endorsement" and they'll be running to your front door!

Feb 10, 2010 7:58 am

Yes, we could get the endorsement from the show's host. Does anyone have any experiences doing this - looking to attempt to put a metric to this type of marketing. How much did you spend, how long before you received interest from prospects, quality of prospects, dollar amounts...any stories good or bad would be appreciated. Thanks.

Feb 10, 2010 8:08 am

Are you concerned at all with possibly alienating half of the market, ie. advertising on a politically charged radio show?

Feb 10, 2010 8:41 am
Wet_Blanket:

Are you concerned at all with possibly alienating half of the market, ie. advertising on a politically charged radio show?



He would be alienating the poorer half, if we are going to say half.

But I would guess that he is going to alienate a lot more than that.  Most of this country is centrist.  Our political leaders are on the extremes.

Feb 10, 2010 8:52 am

Actually, contrary to popular thought Democrats have more "rich" people, where as Republicans have more business owners.  There have been studies conducted that concluded that if the poor voted more, nothing would be different because voting habits have little to do with economic status - shocking.

 
Or at least this was the case in early 2000s.
Feb 10, 2010 9:26 am

Will the ad offer anything?



You should offer a free booklet/whitepaper. Something like the 12
biggest mistakes investors are doing right now. Set up a 800 number to
capture name, address, phone, etc. You will get a much higher response
rate than "call Jim's Financial Planners cause they are a great bunch
of guys"

Feb 10, 2010 9:28 am

An old co-worker used to do the "what's going on in the markets today" report for the most popular am radio show about 10 years ago. Probably on the air for all of 30 seconds a few time per morning. He did this for about 3 years and to this day, people still remember his name. Totally amazing. His regional BD sponsored the airing and they have a good reputation. Seems worth it.


Feb 10, 2010 9:30 am
Wet_Blanket:

Actually, contrary to popular thought Democrats have more "rich" people, where as Republicans have more business owners.  There have been studies conducted that concluded that if the poor voted more, nothing would be different because voting habits have little to do with economic status - shocking.

 
Or at least this was the case in early 2000s.



The last study in 2006 showed the mean income of registered Republicans was 15.2% higher than registered Democrats.  Which, interestingly enough, was the same year Republicans began to have parity with Democrats at education levels.

In 2000 Democrats had significantly more people that were college graduates.  2006, they were nearly neck and neck.

Feb 10, 2010 9:45 am

Sounds like a shift, more likely the shift is to independents.

Feb 10, 2010 9:45 am

I would strongly suggest that you track performance by offering a free booklet, an invitation to a seminar or some other way that you can actually track your progress.


Clients will not come running to your door simply because you are on the radio.
Feb 10, 2010 1:41 pm
WiAdvisor:

An old co-worker used to do the "what's going on in the markets today" report for the most popular am radio show about 10 years ago. Probably on the air for all of 30 seconds a few time per morning. He did this for about 3 years and to this day, people still remember his name. Totally amazing. His regional BD sponsored the airing and they have a good reputation. Seems worth it.



Friend of mine still does this.. Same response, gets tons of walkins...smaller town only local radio station, gave a market update in the am(over the phone from his office)..
Feb 10, 2010 1:44 pm
Moraen:
Wet_Blanket:

Actually, contrary to popular thought Democrats have more "rich" people, where as Republicans have more business owners.  There have been studies conducted that concluded that if the poor voted more, nothing would be different because voting habits have little to do with economic status - shocking.

 
Or at least this was the case in early 2000s.



The last study in 2006 showed the mean income of registered Republicans was 15.2% higher than registered Democrats.  Which, interestingly enough, was the same year Republicans began to have parity with Democrats at education levels.

In 2000 Democrats had significantly more people that were college graduates.  2006, they were nearly neck and neck.


I think these polls are questionable at best...
 
What makes someone republican vs democrat... In some parts of the country the "liberal republican" would be the "core" democrat in other areas..
 
I consider myself a democrat(pro-choice, less religious bs, "taxes are the price we pay to live in a civilized society" if you don't believe me try northern africa), but I vote for the guy not the party... so is that the new indy?
Feb 10, 2010 3:53 pm

Thanks for the feedback so far. My partners and I have differing political views (one liberal, one conservative, and I make decisions based on the man, not the party). Politics aside, it has been my experience that conservatives dominate the radio airwaves which is why we are considering a handful of conservative shows - again, it is a numbers game and the bottom line is that conservatives have the higher ratings on the airwaves. Why not advertise on one of the most listened to radio shows in the state with a devout following of people who would be our ideal clients (45-62 year old wealthy executives/business owner types)??


So, has anyone here paid for an endorsement from a radio show host? If so, can you share YOUR experience? I have heard a lot of "I know a guy who did this 5 years ago....", but has anyone here actually gone down this road?
 
Thanks so much.
Feb 18, 2010 9:57 am

To answer your question I have not paid for a radio ad/endorsement... I have however, looked into it. My firm requires a good bit of compliance work and obviously approval and those things tend to take a while so I started to loose interest. Every word I had written was seriously scrutinized and to start w/ was very vague and conservative. I could have over aggressive compliance or under aggressive depending how you look at it.

You can be the guinea pig .

I wouldn't worry about polarizing due to political party's... Most liberals don't listen to Rush. Its unlikely the "other" half would hear the ad anyway.

Feb 20, 2010 5:07 am

Hello,



                I think you are totally right and you have to do this and don't worry. many people worry before starting any business i think radio is a great source of media and you definitely get success in that.


good luck!!

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