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What’s going on with traditional and internet radio advertising today?

Radio advertising both online and offline have been a successful marketing tool for many brands – which option is best for you?

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radio advertising

What’s going on with radio advertising today?

The radio is an incredible part of history. When Italian inventor Guglielmo Marconi came up with the first radio in 1896, the world was in awe at how a machine that could transmit audio through a wireless signal. It soon became standard in every household in America, and people spent hours huddled around the radio, listening to showtunes, news, and stories.

Aside from the entertainment aspect, it was also the first method of “digital” marketing. That’s right. Contrary to popular belief, “digital marketing has nothing to do with the internet,” according to Neil Patel, an influential marketer and entrepreneur. “[It’s] any form of marketing products or services, which involves electronic devices.” In other words, advertisers have been using digital advertising through radio to spread the word about their products and services in a widespread fashion since the early 20th century.

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However, 100 years later, digital marketing took on another name. It no longer revolved around the radio. Instead, it became recognized as anything to do with the internet, including smartphones, apps, social media, blogs, and advertisements. People began to forget about the radio and how incredible it could be.

But that doesn’t mean that radio advertising is dead. On the contrary, it’s alive and well; it’s just evolved since the first radio advertisement went on the air.

Internet radio is a huge apportunity

According to an article from Forbes, internet radio has the potential to be huge, and it’s already become extremely pervasive. Music is one of the most popular forms of media on the market today. Though television, films, and books are extremely popular forms of entertainment, they can’t travel with consumers like music can. For that very reason, internet radio has taken off, and with it, so have advertisements.

Patel points out several important facts about the boom of radio that was brought on partially by internet streaming. He says that 85 percent of the United States population listens to the radio every week, and those who listen daily will do so for 2 hours on average. That’s a major profit opportunity for radio advertisements.

What’s more, Pandora has 80 million users, which equates to about $4 billion in profits made from advertisements on internet radio. Though Pandora was one of the first, other companies are looking to make money in the same way with better services. Spotify and Vevo, for example, have their own streaming services that make their profits off of ads, and consumers love these free internet radio services.

Reach a broad, local audience

One of the most lucrative aspects of radio advertising is the benefit for local businesses. Though major chains and corporations, like Dairy Queen, Cadillac, and Jack-in-the-Box, capitalize on radio ads every day, local businesses can make a mint off of their radio jingles because of the capacity for brand imprinting. The big name corporations also engage in a variety of expensive, mass-marketing strategies that small, local businesses can’t expect to compete with.

Radio ads are the perfect way for mom and pop shops to attract customers. It’s excellent for brand imprinting, meaning that customers who hear a brand mentioned over and over on the radio are more likely to enlist their goods or services when they need them.

Enjoy the resilience of radio marketing

Perhaps the most compelling fact about radio marketing is the resilience. As mentioned previously, it’s been around for nearly 120 years, and it’s still going strong. It continues to expand and become more accessible to users all over the world. Because of the history and world-wide recognition, it’s able to keep up with changes in technology as they come.

Radio has been bringing people together for centuries, and it continues to do so through a variety of mediums. It’s a top source for music discovery, which is excellent motivation for consumers to tune in, and as consumers tune into a radio station, advertisements do their work, bringing in revenue for both the station and the advertisers.

#RadioAdvertising

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Larry Alton is an independent business consultant specializing in social media trends, business, and entrepreneurship. When he's not consulting, glued to a headset, he's working on one of his many business projects. Follow him on Twitter and LinkedIn.

Business Marketing

How ecommerce brands can increase sales, even on tiny purchases

(MARKETING) These tips and tricks are prime ways to boost the dollar amount spent at checkout and close more deals — even on the tiny purchases!

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online sales

There are many marketing techniques aimed at acquiring new customers. Makes sense, right? More customers, more money. But how do you increase sales with your existing customer base? The Average Order Value (AOV) = Total Revenue/# of Transactions. This number is important because it indicates how much each customer is buying. Here are some ways to increase your AOV:

First, it’s crucial to appeal to human nature. People like things for free. So, by setting a minimum to receive free delivery, buyers are more likely to continue browsing and eventually buying, in order to avoid the shipping fee. While we all know that spending $50 when I only meant to spend $37 isn’t ideal, but I’d rather pay $50 for two products, than $43 for one and shipping. It feels like a better value.

Over half of customers will discontinue their transaction when they found out there are additional costs. MORE THAN HALF. Don’t surprise people the wrong way — we don’t like it.

Second, have you ever been to Costco? Ever left Costco with exactly the amount of food you needed? No, of course, you haven’t. The concept of buying in bulk appeals to our sense of value. Oranges are $1.09 per pound but buy a 10 lb. bag and get it for $8.50. Next thing you know, you’re feeding your child’s soccer team as well as the opponents. Offering a discount on package deals and large quantities at least gets your customers thinking about purchasing more.

We all rationalize the need for a good deal. My roommate used to buy two 12-packs of the giant muffins because “They were on sale.” A discount on a package might entice someone who was looking for a little more variety but was hesitant at first.

Next, recommending products is a great way for customers to lay eyes on new things. Not everyone is a browser — some people go straight to a specific section. By using information from previous purchases and browsing history, showing related, best-selling, or recommended products is an awesome way to generate more clicks and potentially increase sales.

Finally, help us lazy people by including a gift-wrapping option at checkout so that people buying remotely for others out of town can send things directly. In order to wrap, they would have to send to themselves, wrap, then send again or deliver to the receiver. The former sounds like it’s worth $6.99 to me!

In conclusion, there are always ways to boost sales with your existing, loyal, customers. If buyers are only purchasing one thing at a time, reflect on why this is. Perhaps a few sweeteners or additional opportunities could lead to long-term growth. Remember human nature and happy selling!

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Business Marketing

A more environmentally sensitive Pantone color of the year

(MARKETING) Why is Pantone’s coral color causing a ruckus? Marketing is just marketing, right? Maybe not…

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pantone unofficial color of 2020

Every year Pantone declares the Color of the Year and for 2019, the institute declared Living Coral to be the “it” shade calling it “an animating and life-affirming coral hue with a golden undertone that energizes and enlivens with a softer edge.” And it totally is. Imagine bright red orange swimming in a sea of crystal blue water.

Pantone’s Executive Director, Leatrice Eiseman even goes so far as saying it that Living Coral was what “consumers craved” and that it incites “human interaction and social connection” which might be a stretch. It is just a color after all.

However, some found this messaging to be anything but convivial and well, off-color.

Jack Railton-Woodcock and Huei Yin Wong, partners at Jack and Huei, a Melbourne-based design agency, took umbrage with this decision and for good reason.

Their native Australia has front-row seats to the dying of the Great Barrier Reef and for them, coral is anything but lively. If anything, it’s on life support.

To call attention to the tone-deaf decision, the duo preemptively christened Bleached Coral as the Color of the Year 2020.

Touche.

The duo furthered their burn, saying, “It’s the responsibility of all of us, creative or otherwise, to find creative solutions to big problems, and right now there aren’t many problems facing humanity that are bigger than climate change.”

Oof, way to pull back the curtain, guys.

As much of a buzzkill as this pair might be, they’re not wrong, and they bring up the larger question of social responsibility in marketing.

But it’s just marketing, right?

Wrong. The very root of marketing is aspirational. We see ads for luxury cars, we imagine ourselves behind the wheel and believe that maybe we can get there. We see beauty products that promise flawless ageless skin and maybe we decide to take better care of our skin. We see Living Coral and we’re blinded to the reality that the coral just might be a thing of the past.

Yes, Pantone’s Color of the Year is one of those fun end-of-year things we in marketing get excited about, but when you’re living in a world where climate change is our reality and we see it in unnatural weather patterns and the dying off of one of our greatest natural treasures, it’s time to take pause. We can do better.

These days it’s hard to please everybody. Try as we might to make everything for everyone, if we’re going to attempt to talk about a unifying the human race through color, we sure as hell shouldn’t choose a color that reminds us all that our environment is in rough shape and it’s largely humanity’s fault. Bleached Coral isn’t the color we need, but right now, it’s the color we deserve.

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Business Marketing

Genius: How a Yoga studio is using AI to help the masses

(MARKETING) Here’s an interesting case study in how yoga, a 5,000+ year industry is using modern technology.

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Yoga is everywhere. From small town strip mall studios and big city meccas with guidance from YouTube gurus to Instagram-able practice with goats. If monitoring your breaths and balancing your body is your thing, it’s not out of reach.

However, despite its ubiquity, getting into yoga can be intimidating.

Sure, you’ve picked up a mat at Target, you’ve purchased all the Lululemon pants and Outdoor Voices bras, but actually getting on the mat and moving your body can be overwhelming if you’ve never practiced before.

Well, Would-Be-Yogis, push those fears and worries out of your mind, take three deep breaths and get on the mat, because you’re about to start posing at your pace.

Introducing the YogaBot from Austin’s own Yoga Yoga. It’s a fascinating case study in how a 5,000+ year old industry is using modern technology.

Over the past 20 years, Yoga Yoga has guided thousands of yoga students from their first class all the way through advanced teacher training and now, to help improve students choose the right path for themselves, they’ve created Design Your Yoga.

With the intention of helping new and advanced students achieve their yoga goals, Design Your Yoga is an automated experience that begins on their landing page.

Once you arrive, the bot asks you if you’d like to “Design Your Yoga.” After an initial greeting, the bot begins by getting to know your skill level.

Asking a very straightforward, “Have you done yoga before?” you are then offered nine responses ranging from “Never” to “I am a yoga therapist.”

Once you answer, you are asked further questions regarding what you’d like to achieve from your practice, what styles you’re familiar with, and when and where you’d like to practice among a few others. At the end, the bot will ask for your email address to send you a customized yoga plan. Easy peasy.

Their algorithm has thousands of possible combinations promising to make each yogi’s practice results unique to them.

“For years we’ve been working on ways to better personalize our services to the needs of each individual student. Design Your Yoga is our solution to delivering an exceptional user experience with a plan a student can follow and stick with,” said Yoga Yoga CEO Rich Goldstein.

Landing page bots are nothing new, and more often than not, they’re annoying as hell. However, this one actually seems helpful, which is refreshing.

From a marketing standpoint, Yoga Yoga CMO Marc Lefton said, “As marketers in a city as creative and entrepreneurial as Austin, we wanted to make sure we use every tool we can to bring yoga students the information they need as fast as possible.”

He’s not wrong. It worked. After trying it out for ourselves, we can’t help but be a little more ready to get on the mat. First, we’re going to need to put down the tacos.

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