Radio Advertising is a tool that has been used for decades to reach consumers across every industry. However the power of radio advertising has changed. Despite it being a solid form of communication, one must ask, “how do I measure if my radio advertising campaign is a success or not?” Today, you will learn which KPIs to pay attention to to understand the success of your radio advertising campaign.
Radio advertising is able to reach thousands of listeners across many different demographics. Therefore, it is inevitable that if you have a healthy radio advertising campaign your reach will increase.
Now that you have the attention of your consumers, the hope is that website traffic will increase. Radio advertising is effective in communicating messages people will remember and if you are having a successful run with radio then website traffic should increase over time and hopefully lead to new leads/transactions. When measuring your website traffic during the course of your radio campaign, be sure to check the total website visitors directly before the campaign, and for a while before.
If you are having a successful radio advertising campaign then you should receive a neat ROAS. ROAS is measured by (Ad revenue – ad investment) / Ad investment = ROAS. For example, if you are receiving $5,000 worth of service from the radio ad and you are investing $100 into the ad your equation would look like ( $5,000 – $100 /$100) leaving you with a ratio of 49 to 1. This indicates that the radio advertisement is indeed working. It is important to measure your ROAS on every type of advertising to ensure that you are getting the most out of the service!
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