Savvy financial services are putting their money in radio.
Last year, the financial service industry was the #4 radio advertiser in the country, spending $192.6 million dollars in spot and network radio combined.
Reaching the right customers.
Radio helps financial services sell because it reaches key target demographics. For example, radio reaches 90% of households that hold stocks or stock options and 91% of households owning mutual funds.
Making a personal connection.
Radio has a unique ability to connect intimately with listeners. Most consumers tune into their favorite radio station DAILY to hear information that is personally relevant. Financial service advertisements are positioned the same way – personal, helpful, trustworthy.
Taking recommendations from a friend.
Radio is ingrained in so many people’s lives and daily routines. Consumers equate radio personalities as a “close friend.” And inevitably, consumers are more likely to seek financial advice from a close friend.
Radio’s influence is undeniable. Nielsen found that people exposed to a radio ad three or more times are more likely to research a product or service online and take action to purchase. Radio ads are also associated with higher recall and greater brand awareness. Financial service advertisers can rely on radio to position their services as a trusted brand while increasing awareness and lead acquisition.
Please contact us with questions to get you started on a lead generation campaign for your business.