According to a recent survey, radio had emerged as one of the most credible sources of information for millions of people in India, who were unable to venture outside because of a nationwide lockdown. The cities that accounted for high ad volume rates were Indore and Jaipur on top positions amongst 18 cities, according to the recent TAM AdEx India’s Mirroring Y 2020 for Radio Advertising report. The state of Gujarat recorded a 19% share of Ad volumes. Radio has a credibility score of 6.27, second only to the internet, at 6.44, with television at 5.74, the survey found. The radio industry has witnessed a listenership of 51 million people, close to TV’s reach of 56 million and social media’s reach of 57 million. Radio’s at-home listenership has jumped from 64% to 86%. The time people spend listening to radio has soared 23% to 2.36 hours daily during the lockdown, second only to TV.
Gujarat was the most active state when it came to brands advertising on radio with a share of 18 per cent followed closely by neighbour Maharashtra (17 per cent). Top 5 states accounted for 61 per cent of ad volumes on radio, while the 5 southern states together accounted for 28 per cent of radio ad volumes.
The top 10 categories advertising on radio accounted for 40 per cent of all ad volumes on the medium. The top category advertising on radio was real estate, with a share of 9 per cent, followed by life insurance at 5 per cent and four wheelers (cars) with a share of 4 per cent.
Even though Gujarat led the states in terms of share of volume on radio advertising, Ahmedabad ranked number 5 when it came to the top cities by advertising on the medium with a share of 7 per cent. Bengaluru was took the top position with a share of 8 per cent, along with Mumbai.
Why to advertise on radio
FM radio advertising has various advantages. Advertisers choose to advertise on the FM radio for the following reasons:
1.Radio ads can help businesses with selective targeting based on specific market and demographic segmentations.
- Radio ads works with the frequency and being able to expose your ad to the audience repeatedly to build awareness.
- Radio ads are effective, transparent and strongly stored in memory.
- FM radio rates have significantly less costs compared to other types of media.