Radio advertising has long been one of the best methods for reaching your target audience, as radio stations frequently collect demographic information. This information allows advertisers to target specific industries and peoples that you are interested in marketing to. If you have never committed yourself to radio advertising, then you probably have no idea how must advertising costs. There are several factors that go into determining radio costs, from the radio commercial production itself to the radio station that the ad is running on.
Radio Commercial Production
You can’t run a radio ad without making the ad first. Compared to running the advertisement, production is usually a nominal cost. A simple, single-voice ad may start around $1,000, which would include copy writers, a voice actor and creative strategy. However, the price can easily increase for larger, more extensive radio campaigns. For example, additional voice actors and endorsements from popular radio personalities can alter the radio commercial production cost.
Running the Radio Ad
There are several micro-factors within running the advertisement that affect the price. But one can expect to spend anywhere from $100-$1,000 each time the ad is ran. You can also buy bundle deals, which most radio stations offer, to decrease the overall ad cost. This means you agree to pay to have the ad run a certain number of times, and you might get a bulk discount.
The Radio Station
One of the biggest factors in determining the cost of radio advertising is the station that the ad is placed on. A popular station may cost much more than a station with only a moderate audience. At the same time, since a popular station exposes more people to your ad, it could be worth the extra cost.
Time of Day the Radio Ad is Played
Along with the station, the time of the year and time in the day that the radio advertisement runs is important for factoring radio advertising costs. Much like with stations, some times in the year and within a single day are more popular than others. Choosing the right time is a little harder, because different people listen to the radio at different times. For example, if the station plays music in the afternoon, it may attract a younger demographic, whereas if the station hosts talk radio shows then it might attract an older or professional group.
Running Time of the Radio Ad
The average radio advertisement is typically 30 seconds long, and most radio stations will give you a basic price based on this. However, a longer radio may easily double the price. Some radio stations offer a basic package that allows a 10 second advertisement at about half the normal price. Although significantly shorter, a powerful ad that engages listeners can still be just as effective as the 30 second spot.
To start off your advertisement, you may need to have a budget of at least $5,000. Some experts even suggest starting with a $10,000-$20,000. However, there are some very reputable radio advertising companies that can work with you to develop an effective radio marketing campaign that works within your budget. Contact a radio advertising company for a radio marketing strategy that delivers track able and verifiable results.