If this isn’t a once in a lifetime opportunity for radio, I don’t know what is.
According to Deloitte’s “Digital Democracy Survey”, 80% of young TV online and mobile TV viewers will skip commercials.
Over 70% of Millennials and those under 15 (Gen Z) say such ads are “irrelevant”.
45% use ad blocking software with 89% saying it is their intent to block all advertising.
46% say they focus more on ads that they can skip.
99% of Millennials and Gen Z multitask while watching video.
If the radio industry wasn’t so driven by two big companies flirting with bankruptcy and desperate to sell anything, they would call this an opportunity for radio, too.
Independent local stations – the ones planning on staying in business and making a profit – can come up with a strategy to make radio advertising more appealing to a very large generation of potential listeners.
Be more authentic in spots.
Use more voices – we now even know the optimum number of voices to create the most effective ads.
Test the spots before running so the client doesn’t waste their money (obviously, a debt-ridden consolidator isn’t worried about advertisers wasting their money or doing more effective ads).
You bet advertisers will pay more for this.
What I’m saying is that the glass is more than half full for radio if stations focus on results and that includes understanding how Millennials and Gen Z think.
You are aware that I am doing a conference for local radio in about a week and a half.
I have consulted an expert in Millennials to drill down on these powerful keys.
And independent stations who have mastered – yes, mastered – getting premium rates from advertisers while making them more effective to in-demo audiences.
I can make you this promise.
Invest a day in this conference and you will have so much focused information on what is currently trending among audiences and advertisers.
It will be the best and most useful day you’ve spent gathering intelligence on how to compete in the second wave of consolidation.