The buying power of multicultural groups is increasing, which means it's important to consider them when developing your marketing strategy. As of 2019, the buying power of multicultural groups made up a considerable share of the American economy, with Latinx communities accounting for $1.7 trillion, Asian Americans with $1.2 trillion, and Black Americans with $1.4 trillion. Those numbers have only increased.
Testimonials and endorsements are invaluable assets for any business. Even if people don't know the person behind the testimonial, they are far more likely to trust genuine, positive testimonials. However, the power of testimonials from strangers is nothing compared to endorsements from people your audience recognizes and trusts, including their favorite voices and personalities that speak to them every day over the radio.
Many businesses make the mistake of focusing their marketing strategy primarily at the bottom of the sales funnel. However, marketing strategies dedicated to these tactics will ultimately fail compared to strategies that also place focus toward the top and middle of the sales funnel. If you can add value to those earlier touchpoints that help bring people to the bottom of the sales funnel, you'll be able to increase conversions.
As a business, you want to bring in customers and provide them with the information they need along their path to purchase. That means creating content that will move them through the process by making them more aware of your products and services to making a decision about your product.
With radio ads, there’s a great opportunity for creativity. For best results, we suggest adhering to some simple guidelines to help you achieve success. You want your radio ads to speak to your listeners: to get their attention, convince them of the importance of your product, and invite them to connect with your brand. Here are some strategies to improve the return on your ads and make them more effective.
Radio is a powerful advertising medium that can offer exceptional Return on Ad Spend (ROAS). Industry experts have found that radio ads can deliver up to $12 in earned revenue for every $1 spent in advertising money. Moreover, radio marketing has a vast reach, with studies showing that on-air ads can reach approximately 247 million Americans aged 12+ each week.
Whether you’ve never advertised before or have been advertising for years, it’s important to take a step back and look at the basics. Every business owner has their favorite advertising types, but adding some new tools to your marketing toolbox can boost your reach and increase sales. Here are seven advertising strategies to consider when creating or revamping your business’ advertising plan.
Handling the challenges of COVID-19 has been tricky for brands, especially those that rely on humorous ads. During the initial surge of cases, playful brands like Wendy's and Denny's went dark on social media for several weeks. Coors Light pulled its "Working Remotely" ad before it even aired for fear of appearing insensitive about the current situation.
Building a marketing budget can prove deceptively tough. It's not as simple as simply assigning a dollar amount to your marketing efforts based on your current profits or keeping the budget you've always held. Unfortunately, many marketing plans sell themselves short at this early stage. Many times, the marketing budget is divided among pre-existing categories like "paid search ads" and "radio spots" without considering the goals behind those marketing efforts and how to best accomplish them.
When customers visit your website for the first time, 92% of the time they aren't ready to make a purchase. Instead, they're there to do further research, check out your products, or visit other content your business has provided. Making a sale depends on moving prospects through the buyer's journey. Customers who do purchase on their first visit have already reached that critical decision stage.
Bonneville Bay Area offers integrated marketing solutions that connect businesses with the right local audience enabling brand awareness, activation in the local community, and overall business growth.