Today, there are countless marketing channels available for the thriving financial professional. Chances are, you’ve tested out at least one media channel. But what about the airwaves? Radio offers many benefits, including third-party credibility and building client loyalty. According to a study by Nielsen, radio increased retention by as much as 11% for a big-box retailer.
Not sure if radio is for you? Check out the following benefits to see how radio could help build your practice:
Increase reach. Nielsen’s second-quarter Audio Today report estimates 244.4 million Americans listen to the radio each week. Although this number includes all listeners ages 12+, radio offers the opportunity to target those interested in your services.
Establish credibility and professionalism. In addition to helping increase referrals and your online presence, radio marketing creates credibility with those wanting to work with you. By using your radio presence to teach your audience and generate conversation, you further demonstrate that you know how to help clients plan for a safer financial future.
Build content. Providing useful, relevant content is the key to generating interest in your services. Adding radio to your media efforts can convert more visitors to your website.
Offer exclusive incentives to clients. Radio shows allow you to build relationships with a variety of celebrity guests, including musical talent, fellow financial experts, and best-selling authors. By establishing these relationships, you not only generate third-party credibility, but you are able to offer clients exclusive benefits, ranging from educational content to free concert tickets (depending what your state allows).
Increase ROI. Nielsen also found a direct link between radio ads and retail sales: For every dollar spent on advertising, consumers spend $6 within 28 days of hearing the commercials. American Express conducted its own research and found that radio commercials promoted a 23% boost in online card registrations and a 38% increase in web searches.
Long story short: Radio packs a powerful ROI punch.