Radio Advertising Space: Getting the Best Deal
Package plans can be used to buy radio advertising space, which simply means buying multiple spots run at various times of the day or night. Radio advertising reps usually offer packages as opposed to selling just a single space, because like most advertising, repetition gets results. The first time a radio commercial is heard the listener may be distracted; perhaps the next time, they hear it. The next time it’s played, they may listen for the commercial because of the information presented, and may have a need to buy the product or service offered.
In purchasing a package, there are variances in the price of dayparts based on ratings per daypart, which means the average spot will be less than just buying all drive time ad space. And while radio reps sell using a rate card, prices are also negotiable. As with print, radio stations don’t have dead air time, where no content is presented at all. Every minute of every day is filled with some kind of content – either editorial, music, talk or ad spots. If all available spots haven’t been sold, regular advertisers may be offered the first opportunity to buy additional radio ad space at a discounted rate. If they decline, the offer may be taken to other local businesses, or used as an incentive for an advertiser looking to make a larger buy.
The first quarter of the year is a time to get a great discount on radio advertising space. Many retail businesses save the majority of their advertising dollars to spend in the fourth quarter of the year to take advantage of holiday shoppers. Some businesses operating on a fiscal budget use the first quarter of the year to refine and tweak the budget, determined by the outcome of the previous year’s sales. Budgets can literally be frozen during the first quarter until these adjustments are made, preventing advertising (and other) expenditures. This is the time to negotiate…not just for the first quarter, but if possible, make the good deal stretch throughout the year.
Radio stations are like any other business. They have revenue requirements every month, regardless of what’s going on in the market or with the economy. Ad space must be sold or the staff doesn’t get paid, the electricity and phone bills aren’t paid, and the station won’t continue to broadcast. If the radio station’s ad sales are slow at any given time, you can negotiate to get spots at a better rate than during flush times.
Radio advertising can also be an effective, low-cost method of reinforcing other more expensive forms of advertising space. Advertisers can use radio ad messages to refer to the complete details of an offer in other media, and is frequently used this way. An auto dealer may run print ads in newspaper, post ads on their website, and run radio spots telling the listener to go to their website or see the current ad in the newspaper. This is a great way for radio advertising space to support and increase response to other media by becoming a part of the overall marketing plan.
