Knowledge is Power: Radio (CIMTIG Event Presentation)
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A presentation from our 'Knowledge is Power: Radio' event. Download this presentation here: http://bit.ly/1LRIsNo Find out more about CIMTIG: http://bit.ly/1LRIdly And keep your eyes peeled for our next event on Out Of Home, coming soon!
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Knowledge is Power: Radio (CIMTIG Event Presentation)
- 2. Weekdays From 10am Saturday From 9am
- 3. Schedule .The Radio Landscape Steve Ramsey - MD - Radio Experts 2.The strengths of radio Donna Harford - Insight Manager - RAB (Radio Advertising Bureau) 3. Proving radio works - Research Donna Harford - Insight Manager - RAB 4. Innovation Bradd Tipler - Insight Manager - Global 5. Case Studies Asha Chandegra - Client & Category Manager (Travel) - Global 6.Thanks Keith Cartwright - CIMTIG Chairman
- 4. Steve Ramsey
- 6. The radio market is worth £550m + Other 42% 30% 20%8% Source RAB/ RAJAR
- 7. Clear distinctive brands Av age 41 Av age 33 Av age 31 Av age 55 Av age 42 Av age 44 Source RAJAR
- 8. The industry in stats Number of years that commercial radio has been broadcasting in the UK 40 Source RAB
- 9. The industry in stats Number of commercial radio stations 334 Source RAJAR
- 10. The industry in stats Of the population tune into radio each week 89% Source RAJAR
- 11. The industry in stats Of whom are listening to commercial stations 34m Source RAJAR
- 12. The industry in stats Tune in via digital platforms 52% Source RAJAR
- 13. The industry in stats Of adults listen via a mobile or tablet… up 45% YoY 22% Source RAJAR
- 14. The industry in stats Of 15-24s receive updates re. their favourite station/presenter via social media 36% Source RAB
- 15. The industry in stats Of new car registrations now have DAB as standard… 61% Source SMMT
- 16. The industry in stats Fewer listeners tune in to CR than to BBC 441k Source RAJAR
- 17. The industry in stats Users of Spotify globally 60m Source Spotify
- 18. In summary…
- 19. Trends & Themes
- 20. Consumer choice has exploded, with more brands than ever vying for attention 3.5bn searches per day Source:Various 1,100 local newspapers 373k OOH sites3,212 magazines 370 TV channels 180m websites 5.7k tweets / sec 100 hrs video content / min
- 21. Radio is evolving into Audio…
- 22. It’s a platform agnostic world
- 23. Media brands are reinventing themselves to stand out
- 24. But the proof remains in the pudding…
- 25. RAB - Radio’s effectiveness
- 26. Introduction to Radio Donna Harford Insight Manager, RAB The travel sector
- 27. Agenda • The strengths of radio • Research & Findings • Summary
- 28. Agenda • The strengths of radio • Research & findings • Summary
- 29. Live radio remains the most consumed audio format Source: RAJAR MIDASplus, Spring 2014 Wave 4 Live Radio 70% Owned music 20% Music streaming services 4% Online audio/video clips 4% Catch up radio & podcasts 2%
- 30. Share of commercial pureplay audio time Source: RAJAR MIDASplus, Spring 2014 Wave 4 On demand commercial audio 11% Live CommercialRadio 89% All Adults
- 31. The Long and the Short of it Brand building Activation Long term Short term
- 32. The value of radio for travel brands Brand building Activation Long term Short term Scale Emotion Efficiency
- 33. SCALE
- 34. Broadcast media deliver both reach and engagement 0% 25.00% 50.00% 75.00% 100.00% 0 1.00 2.00 3.00 4.00 Reach Average hours •TV •social networking•newspapers Source: IPA Touchpoints 5 magazine s radio
- 35. Digital platforms make radio even more accessible:
- 36. “Market share growth is strongly related to Share of Voice” Source: The Long and the Short of It – IPA Databank
- 37. 0% 0.8% 1.5% 2.3% 3.0% Outdoor Press Radio TV Shareofvoice Calculation based on Nielsen media spends for 12 months Jan – Dec 2014 Radio can increase your SOV Example £1m spend on a travel brand
- 38. 0% 10% 20% 30% 40% radio cinema TV magazines newspapers % of ads which are hard avoided Radio is intrusive Source: Clark Chapman Research
- 39. Emotion
- 40. Source: ‘Media and the mood of the nation’ RAB/Sparkler/Goldsmith’s University Radio generates the highest increase in Happiness & Energy
- 41. Music makes advertising work harder • Music increases attention • Music increases recall of brand & message • Music increases purchase intent • Music increases sales effect by 10% - 30%
- 42. Radio is a visual medium 42
- 43. 43 The same area of t h e b r a i n i s STIMULATED when exposed to audio and visual i n f o r m a t i o n
- 44. Auditory Information is Personalised 44
- 45. Brand building Long term Short term Broad effect on all performance measures Source: ‘The Long and the Short of It’ – IPA Databank Narrower response effects The value of radio for travel brands Scale Emotion Efficiency Activation
- 46. Efficiency
- 47. Use for Source Radio Outdoor TV Magazines Newspapers 500 278 253 118100 Radio delivers reach cost-efficiently Average cost per thousand comparison index (Radio =100)
- 48. Radio Works well with press 48 BrandConsideration BrandConsideration 100 230 Radio + Press Ad Awareness Base:CampaignusingRadio+Pressonly,averagespend £346K 130% BrandConsideration BrandConsideration 100 173 Base:CampaignsusingRadio&TVonly,Radiocampaignaveragespend£394K Radio + Press Brand Consideration 73% Source: RAB radio gauge predict,Audience Adults 45 to 54
- 49. Radio can deliver geographically
- 50. Radio dominates share of media time at relevant moments Commuting DrivingShopping
- 51. Relevance Recall increases by + 65% when listeners are involved in a related activity
- 52. Agenda • The strengths of radio • Research & findings • Summary
- 53. Evidence of radio’s brand effect
- 54. Listeners Non listeners 100 196 On average, travel campaigns have seen an uplift of 96% in awareness levels Ad Awareness Source: RadioGAUGE 96% uplift Base: 16 Travel campaigns; average radio spend £330k Source: radioGAUGE from the RAB
- 55. 100 136 Radio drives consideration for Travel brands Average uplift in brand consideration across Travel campaigns 36% uplift Base: 16 Travel campaigns; average radio spend £330k Source: radioGAUGE from the RAB Thomson Holidays +45%
- 56. +59% brand browsing (travel sector) The evidence : driving online response The average uplift in brand browsing driven by radio is 52% but with the right offer and message this can more than double
- 60. Higher weekly reach enhances radio ROI Effect of weekly campaign coverage on % sales uplifts attributable to radio Source: Radio: the ROI Multiplier 1.7 1.9 2.1 2.3 2.5 2.7 2.9 3.1 12% 15% 19% 25% 30% 35% 40% Radio%salesupliftsper£100k % weekly reach
- 61. Source: Radio: the ROI Multiplier Boosting radio’s share improves overall ROI 4.00 4.10 4.20 4.30 4.40 4.50 4.60 4.70 9% 12% 14% 17% 20% 22% +8.5% Radio % share of campaign spend TotalcampaignROI Effect of reallocating budget to radio from all media on overall campaign ROI
- 62. British Airways: Case study Background Tactical leisure airtime campaign designed to stimulate immediate web traffic and sales. Targeting Geographical targeting: London/ SE Modal targeting: Fri to Tues Results
- 63. Summary • Radio retains significant scale, with digital platforms extending station brand reach • Radio is proven to deliver at both a brand building and activation level • Econometric analysis highlights the strength of radio ROI vs. other media, especially within travel sector • For more information on our studies and the best practise within creative visit www.rab.co.uk
- 67. Radio Hybrid On Demand
- 68. 6.3MILLION 14.1MILLION AUTUMN 2012 AUTUMN 2014 DIGITAL AUDIO REACH HAS DOUBLED IN 18 MONTHS Source:Autumn MIDAS survey 2014 27% of the population
- 69. STREAMING IS NOW MAINSTREAM Source: Spring MIDAS survey 2014 - figures are millions Weekly reach broken down by age demos (millions) 15-24 25-34 35-54 55+ 2.0 4.9 3.73.5 0.9 2.0 2.6 0.8 Autumn 2012 Autumn 2014
- 71. 1. MILLENNIALS BELIEVE MUSIC SHOULD BE FREE
- 72. 2. ACCEPT THAT FREE MUSIC COMES AT A PRICE, AND THAT PRICE IS ADVERTISING.
- 73. 3.M I L L E N N I A L S L I K E SHUFFLE-MODE LISTENING
- 74. 4. MILLENNIALS WANT TO BE INVOLVED IN THE CREATION AND TASTE-MAKING PROCESS.
- 75. 5. MILLENNIALS ARE LISTENING TO HAPPY, UPLIFTING MUSIC.
- 76. 24 16 13 1113 9 8 7 3 15 Source: Samsung Study 2013 2,000 Smartphone Users UK Ave mins per day
- 77. 24 16 13 7 15 SOURCE: IAB / PwC UK Mobile Display Adspend 2013 £143M £208M ? 11 £69M
- 80. ADVERTI SER
- 82. DIGITAL AUDIO - BEYOND THE MUSIC...
- 86. WORKING OUT INCREMENTAL REACH (WEEKLY) Audience groups are hierarchical from top to bottom RAJAR Q3 2014 & MIDAS Autumn 2014 All data UK Pop (15+) 4.5m people who are unreachable here.... ....but are reachable here 39m (74%) 3.9m (7%) 10.2m (19%) Digital Audio Reach (Mobile, Tablet, Desktop, Laptop) BBC Only Commercially Contactable UK 15+ Pop BBC Only 9m (17%) 13m (24%) 32m (59%) No Broadcast Commercially Contactable Broadcast Reach (FM/AM/DAB/DTV) UK 15+ Pop 54m 44% are unreachable by broa No Digital
- 89. % campaigns reporting very large profit gains 31% 26% 16% Emotional Combined Rational Source: IPA, Marketing in the Era of Effectiveness Emotions drive long term profits