Sales staff at legacy radio stations can draw inspiration from a study by Peter Field that lays out hard evidence for how AM/FM radio drives significant lifts in market share, pricing power, sales, profits and ROI. The study is titled The Long and the Short of It — 10 Years On: Radio’s Enduring Role in Effectiveness.
Field and writing partner Les Binet have been dubbed the “godfathers of marketing effectiveness” due to the significant marketing studies and books they have published together over the last 15 years, including Marketing in the Era of Accountability, The Long and the Short of It, Media in Focus, and Effectiveness in Context.
Field presented some of the study’s findings at a Radiocentre Ireland event on Oct. 5, including the following:
- AM/FM radio boosts mental availability (the propensity of a brand to be noticed and thought of in buying situations) by over 13%.
- The link between trust and profit has surged over the last 15 years.
- Adding AM/FM radio to the plan boosts brand trust by more than 58%.
- Media plans with AM/FM radio have a market share of over 28% greater than brands that do not use AM/FM radio.
- AM/FM radio improves brand pricing power by more than 17%.
- AM/FM radio grows short-term sales effects by more than 13%.