As data becomes increasingly essential to advertisers, while media platforms are digging deeper to deliver numbers and credible ROI to marketers, technology pundits are calling this the “age of outcome.” And radio has gotten with the program.
In a new blog post, the Radio Advertising Bureau says, “Data helps us reveal insights and craft stories of real outcome that enable advertisers to create relevant messaging for their audiences – messaging that will ultimately equate to high value touches with their consumers.”
In its Radio Matters blog, the RAB adds, “There are many rich and robust data stories coming out of radio that shed light on the interests and behavior of loyal and passionate consumers.” In hand, data is driving successful campaigns for brands that are “leveraging the insights to optimize and reinvest in their plans, messaging, promotions and schedules on radio stations across the country.”
In the ROI arena, the RAB explains that Nielsen is now able to accurately measure the Return on Ad Spend for marketers by linking radio listening data to the actual transactions of more than 125 million consumers and 80% of all American credit card holders. These results are “consistently positive and in line with findings from other media like TV and digital and based on a dozen studies of various products and categories,” it notes. The result: Radio’s average return for every dollar of ad investment was $10.
The RAB also cites Dial Report, a radio attribution platform powered by NextRadio, which can directly correlate radio advertising to store traffic and provide insights into the behavioral patterns of radio listeners. Through its data, for example, a local automotive dealership learned that among those who heard its spots, one in 10 planned on purchasing a vehicle in the next 6 months. Meanwhile, their radio efforts increased dealer visits by 69.8% over the course of the 13-week campaign.
Another example comes from Veritone. Thanks to advancements in AI, it is now possible to quantify everything happening during a radio broadcast. Through the company’s proprietary platform, stations can provide full transparency on playout of both spot and native campaigns. “This data reveals delivery, accountability and transparent metrics never before available in the broadcast radio industry,” the RAB says.
And attribution analytics partner AnalyticOwl has proven that more than 90% of campaigns that include live reads from on-air radio personalities are the top generators of response. In addition, the company can conduct A/B testing for various creative and targeting approaches.
The RAB concludes, “Understanding what motivates consumers, the ability to know what messages work best among whom, striking the correct balance of media and the quantification of touches with precise points in time and place are the outcomes that we all strive for—and radio is poised to deliver.”