While some business owners throw away thousands of dollars each month on bloated television and multimedia campaigns, there are many others that are raking in the same amount using targeted direct response radio advertising solutions. Why is there such a disparity between these types of people? Simple: some executives have fallen prey to the concept that “new” media guarantees a higher profit margin.
In fact, the exact opposite is true.
As people consume more and more media, direct response radio advertisers can take advantage of the rich radio marketplace as long as they are wise. The best direct response radio advertising companies share a few key attributes that make them successful where others have failed.
1. Successful Direct Radio Advertisers Set Clear Goals
One of the biggest mistakes that new direct response radio advertisers make is that they jump in with both feet without setting up a clear success plan. It is vital that you understand what the cost per thousand impressions is (CPM), and what a sustainable conversion percentage must be in order for the campaign to be successful. Without these specific goals, you could fall into the advertising pit, where profits become losses within just a few weeks.
2. Successful Direct Radio Advertisers Buy Smart
Buying only drive times during rush hour might get you the most impressions for your buck, but they won’t necessarily mean the most conversions for your product. If you are selling prescription sleep medication that will put Ambien to shame, take advantage of those low-rate overnight schedules that radio stations are scrambling to fill. You’ll get a better cost per thousand impressions (CPM) and directly target the customers that need your help.
3. Successful Direct Radio Advertisers Are In Tune With Customers
This seems like Marketing 101, but understanding your customer is a vital step in understanding the motivations that you will build your direct response radio advertising campaign around. Carefully craft your perfect buyer: Who are they, what do they want, and why do they want it? This will help you choose your stations, times and message much more clearly and with better results.
4. Successful Direct Radio Advertisers Provide Something of Worth
As in any sales campaign, it is vital to give customers something they can’t live without (or close to it). Since radio is a right-brain/left-brain media, good radio sales strategies use emotion to lead the consumer to water, logic to make them drink. This gives them first the “feeling” that the product will make their lives better, second the “knowledge” that it is the logical thing to do. Generous incentives coupled with an emotional fulfillment turn your product into a necessity.
5. Successful Direct Radio Advertisers Focus on Analytics
One of the most important components of a successful direct response radio advertising plan is analytics. Schedule a test run of your product (within your original scope and planned budget) to see what is working about your campaign and what needs improvement. Direct response radio advertising gives you the advantage of being able to track the demographics of people who are responding, as well as the when and where they are calling from. Use the information wisely to find out what percentage of people are calling each time you run a spot and what the typical conversion rate is. This will help you know if your campaign is on track, and whether you need to change something in order to meet your sales goals.
6. Successful Direct Radio Advertisers Rely on Excellent People
Whether you like it or not, the people you choose to work on your direct response radio advertising campaign is the most important decision you make. Choose experienced, forward-thinking writers and producers for your creative team. Pick reliable, positive and pleasant people for your call center team. These decisions will directly influence your productivity, so handle them with care.
7. Successful Direct Radio Advertisers Roll with the Punches
The most successful direct response radio advertisers are the ones who are analyzing, but also responding to input. Savvy advertisers can look at daily analysis and key in on flaws with the ads, the creative pipeline or the sales process. Great advertisers are immediately responsive to problems and fix them in the quickest, most efficient way possible.
8. Successful Direct Radio Advertisers Take Creative Risks
The thing that sets effective marketers apart from the rest is the ability to think outside of the box. Don’t be afraid to try something unique and different. While many copywriters have ideas that have been used by other direct radio response advertisers to great success, having a fresh perspective can be the difference between good sales and phenomenal profits.
9. Successful Direct Radio Advertisers Streamline the Process
People who make a lot of money on direct response radio advertising are the people who are organized. The planning process, creative process and sales process are meticulous and easily understood by the people involved. This eliminates waste from the gears of your business machine. By teaching your teammates the full process, you are also ensuring flexibility change copy, goals and sales strategies quickly and effectively.
10. Successful Direct Radio Advertisers Reflect Often
The campaign that reflects and learns from mistakes will be the most effective. Take advantage of each direct response foray to learn something new about your customer and your process. Each time you do, you are investing in a better direct response radio advertising future.