Financial service providers would be wise to consider radio advertising! A recent study conducted by Nielsen reveals how one NFL radio campaign boosted app downloads and usage, brand awareness, and ad recall for an undisclosed financial service client.

Key Findings:

  1. Those exposed to the radio campaign were 21% more likely to use the app.
  2. Women were 73% more likely to use the app after hearing the radio ads.
  3. Radio ads created a 26% increase in app awareness.
  4. Participants were 18% more likely to describe the app as “a convenient transfer of money through its mobile app and website.”
  5. Perceptions of trust and leadership grew by 9% and 7% respectively once to those exposed to the radio ads.
  6. Radio ads increased recall of ads on other platforms:
    1. 58% increased recall of digital ads
    2. 55% increased recall of TV ads
    3. 40% increased recall of billboards/outdoor ads
    4. 23% increased recall of mobile ads
    5. 15% increased recall of newspaper ads
Financial services should advertise mobile apps on the radio

The study also demonstrates the power endorsement advertising on the radio:

  1. 83% said they liked it or liked it a lot, compared to 53% of those who heard the regular creative ads.
  2. Endorsement ads performed 60% better than the regular creative ads.
  3. Endorsement ads outperformed regular creative ads in believability with regular ads scoring 77% and endorsement ads scoring 94%.
  4. 91% said endorsement ads provided a new source of information, compared to 62% of regular radio ads.
  5. 89% of those exposed to endorsement ads characterized the company as unique, compared to 52% of those exposed to regular radio ads.
  6. 88% rated endorsement ads are relevant compared to 55% of those who heard regular ads.

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