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.
- Those exposed to the radio campaign were 21% more likely to use the app.
- Women were 73% more likely to use the app after hearing the radio ads.
- Radio ads created a 26% increase in app awareness.
- Participants were 18% more likely to describe the app as “a convenient transfer of money through its mobile app and website.”
- Perceptions of trust and leadership grew by 9% and 7% respectively once to those exposed to the radio ads.
- Radio ads increased recall of ads on other platforms:
- 58% increased recall of digital ads
- 55% increased recall of TV ads
- 40% increased recall of billboards/outdoor ads
- 23% increased recall of mobile ads
- 15% increased recall of newspaper ads
The study also demonstrates the power endorsement advertising on the radio:
- 83% said they liked it or liked it a lot, compared to 53% of those who heard the regular creative ads.
- Endorsement ads performed 60% better than the regular creative ads.
- Endorsement ads outperformed regular creative ads in believability with regular ads scoring 77% and endorsement ads scoring 94%.
- 91% said endorsement ads provided a new source of information, compared to 62% of regular radio ads.
- 89% of those exposed to endorsement ads characterized the company as unique, compared to 52% of those exposed to regular radio ads.
- 88% rated endorsement ads are relevant compared to 55% of those who heard regular ads.