4 Reasons to Have a Radio Strategy for Summer
Booking a long-awaited trip. Finally buying that new car. Adding non-essentials to cart. With consumer spending increasing 11.3% in Q1 of 2021 and greater household savings, this could be a summer like no other as demand continues to come back in a big way. Whether your brand has stayed top of mind, or just dipping its toes back in the advertising pool, there’s a renewed opportunity to engage with customers.
Radio is currently experiencing its own rebound thanks to the economy opening up and unwavering listener loyalty. Radio’s weekly reach is now at 98% of pre-covid levels, hitting its highest level since March 2020. And it’s radio’s enduring qualities - desirable audience, effectiveness, and trust - that also make it your best bet to get in front of summer spending.
Radio’s core listeners are bringing “normal” back.
Confidence that the country is headed towards normalcy is at an all-time high, according to a custom survey conducted by Nielsen - 6 in 10 surveyed say they are “Ready to Go.” This audience is poised to go out into the world and back into their routines - and the best way to reach them is through radio.
Radio listeners are more likely to fall into this attractive segment of consumers who are high-earners, have kids, and are working outside the home. Crucial to the economy’s growth, heavy radio listeners, in particular, are already spending. They are 47% more likely to shop in a store for a non-grocery item, 37% more likely to dine out, and as we enter a post-sweatpants era, 29% more likely to shop for clothing.
They are also empowered to spend big.
Thanks in part to government relief, the household savings rate is nearly triple what it was pre-pandemic - 20.5% of income. With trillions in pent-up savings, consumers are ready to take advantage of the re-opening economy.
In general, U.S. adults are eyeing big-ticket items, but radio listeners, in particular, are willing to spend on major purchases like a brand new vehicle or put those savings into home equity. In fact, heavy radio listeners are nearly 20% more likely to buy a car in the next year. And while they may not have the best luck doing so, they are 64% more likely to buy a home in the next year.
Radio advertising drives listeners to action.
And speaking of cars, radio’s in-car reach delivers the right people at the right time and in the right place. The portability and immediacy of radio positions advertisers closest to the point of purchase, an advantage when commutes are coming back.
The percentage of working Americans who are working out of home again is up nearly 70% compared to last April. Additionally, those spending an hour or more in their cars is up 150% in the same time period with heavy radio listeners even more likely to get on the road.
Consumer habits evolve, but radio’s reputation remains.
The habits adopted during the pandemic may be here to stay, eroding brand loyalty in the process. Thanks to supply chain disruptions, growing demand for convenience, and the shift to e-commerce, 45% of American shoppers have altered their brand preferences.
For brands looking to either win over new customers or secure the loyalty of existing customers, there’s a halo effect that comes from radio’s reputation for trust and the power of on-air talent. Strengthened by the shared experience of the pandemic, radio listeners have a personal connection with their favorite radio personalities. When it comes to the messaging heard on-air, radio ads, especially those delivered by the host, are among the most trusted.
Your audience will be tuned in this summer - get in front of them with the right audio solutions. From the accountability of RADAR® to brand-safe networks with no controversial content and the high engagement of host reads - we’ve got all things audio covered. Get in touch to hear more.
Sources: The Bureau of Economic Analysis (BEA), May 28, 2021; Custom Nielsen study conducted April 2020, May 2020, June 2020, & October 2020 & March 2021 via an online survey among P18+; J.P Morgan; Ketchum Brand Reckoning 2020; YouGov, Global study: Which types of ads do people trust, 2021; Katz Radio Group, Our Media, 2019