With the rise of Internet marketing to prominence, radio is now seen as the underdog among marketing media. Most companies have jumped on the Internet marketing bandwagon to take advantage of the surging number of Internet users. But even though online marketing is the popular trend these days, that doesn’t mean other advertising mediums are ineffective. Even now, radio is still a major part of people’s daily lives, and as Internet marketing erodes interest from advertisers, small businesses now have an opportunity to take advantage of radio remnant advertising.
Like many commodities, airtime is perishable – it expires after a set amount of time. If no one buys a particular radio spot before it expires, then the station loses their chance to turn a profit off of it. Unsurprisingly, stations want to avoid this happening whenever possible: rather than letting ad spots expire, they offer them to advertisers at a steep discount.This means that small businesses can buy radio airtime for a fraction of the usual cost, and as television and the Internet continue to steal the spotlight from radio, the price of radio remnant advertising will continue to decrease.
However, the effectiveness of remnant advertising can vary depending on your approach. If you want to get the most out of your radio remnant advertising, here are some things you should remember:
• Be ready with your commercial. Remnant advertising is also called “last minute advertising” because TV or radio stations sell these unsold spots with only a short time left before they expire. When you buy remnant radio spots, you should already have a radio commercial ready to air.
• Start locally. You don’t need to advertise on a nationwide basis if your services aren’t available nationwide; you’d just be wasting money. You should know which local radio stations have the most listeners and which timeframe your target demographic is most likely to be listening. This information will help you get your message across.
• Get the help of a media buying firm. TV or radio stations usually only offer the best deals on radio remnant spots to media buyers because they buy them in bulk. If you try to “cut out the middleman” by buying remnant airtime directly from a radio station, odds are it’ll be more expensive than hiring a media buying company, not less.In fact, some media buying companies also offer advertising services, and they may even produce your commercials for free if you use their services, giving you an all-in-one package deal on your advertising. An advertising firm that offers all these services would not only save you money on advertising, but also give you useful advice to help you get the most out of your advertising. Be sure that they have good relations with radio stations so that you’ll get only the best deals.
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