Marketer and Consumer Psychologist Stuart Henderson Britt once said that: “Doing business without advertising is like winking at a girl in the dark. You know what you are doing but nobody else does.”
On your businesses journey to profitability, there are many obstacles which you might face, but you’re definitely doing something right if you are already considering your advertising options.
You may feel like you are a world away from setting budgets solely for radio commercials, but actually it is relatively inexpensive, and quite effective to designate a small amount for your own advertising spend to radio. It’s true that print media advertising is highly niche-centric, and television advertising can be expensive, but radio airwaves are great for any rising business star. It is very much still a viable form of advertising!
It might seem a little odd for you to advertise on the radio, especially if you’ve previously associated listening to the radio with your Nan, who may have questionable taste in food, clothing, music—well everything—but that’s where you’re wrong!
Radio advertising in a large metropolitan area like Sydney is an invaluable asset that allows you to have an outreach to over 4 million people!
So now you’re probably wondering, exactly how much does a radio ad cost?
Here’s the breakdown on the value and cost of a radio ad in Sydney;
Radio advertising costs vary, based on a series of factors, depending on what you’re looking for as a business owner. So what exactly determines the cost of radio ads in Sydney?
First Factor: The Duration Determines the Cost of Your Radio Ad
According to some of Sydney’s latest radio marketing stats, it’s much better to have a 45 second radio commercial, than a 30 second ad, as they work 30% better—even though they might cost a little more: the return is clearly worth it. In this case, you have to ask yourself if you are looking at the cost of a radio commercial in terms of just price, or what the yield from that commercial will be.
Second Factor: The Placement Influences the Cost of the Radio Ad
Airing your radio ad at a time when the only people tuned in will be the wrong age, the wrong demographic, or the wrong gender is nearly as bad as never having aired anything at all. The cost to advertise on radio is not something that you can afford to take lightly, so you have to be smart about when you air your ad.
According to recent information gathered after Sydney’s radio stats analysis, it’s best for brands to run their ads at ‘drive times’. These ‘drive time’ radio commercials can do up to forty times better than an ad that runs during the grave-yard shift—unless of course your target audience is up at these hours. The cost to advertise on that Sydney radio station will therefore be reflected in your placement.
Third Factor: The Sydney Station that will air your Radio Ad
Depending on the size of the radio station, they will have differing levels of listenership, at different times during the day—some stations also have a higher listenership than others, so their rate cards will take that into account. When you have your advertisement running on a radio station that no one in Sydney has heard of, or barely listens to, then you’re still going to make little progress.
You might think that it would have been easier to attach the price of a radio ad to a list of stations, containing the most expensive radio station for advertising, pitted against the cheapest radio advertising for advertising, but that would not provide you with any sort of value, and when a small business is looking at running an advertisement, value (created by having all the right information) is the most important element—everything else will pale in comparison!
Remember; the money spent on running a radio commercial will be money well spent, but you must make sure to have the right team of marketers on your side who will research, negotiate, and advise you on the best value for your business and your advertising strategy.
If you would like to find out more about how you can measure your marketing success, download our free ebook: Closed-Loop Marketing. This free resource will explain how you can measure the metrics that matter and link your sales back to the marketing efforts that created them. Simply click the link below to download your free copy: