Research shows that only 5% of businesses are in-market for a product at any given time. So how can B2Bs market to other businesses effectively?
The key, according to Dale W. Harrison of Inforda Life Science Services, is for B2B brands to be “known before they are needed” so that when an “urgent high-value need” emerges, their brand is top of mind.
A wise B2B strategy would be to grow brand awareness and trust while increasing brand recall, which will lead to an increased propensity to purchase your brand when the business goes in-market for a product or service.
AM/FM radio has already proven its effectiveness for B2B advertisers such as Staples, Indeed, Dell, Intuit, and ZipRecruiter, and podcasting has become a growing media platform for B2B brands. Magellan, the firm that tracks podcast advertising expenditures, found that Top B2B brands have spent $182 million on podcasts over the past 14 months.
According to Scarborough, AM/FM radio reaches 85% of all business decision makers weekly, well above cable (64%) and broadcast TV (63%). Additionally, AM/FM radio reaches 84-86% of business decision makers working in management positions, or those who purchase information technology, business travel or convention arrangements, overnight delivery services, or office equipment and supplies.
“For years, we’ve known radio excels at B2B marketing as it offers several unique advantages that make it effective, even now in the age of digital dominance,” said Vanessa Verrillo, Senior Account Manager at SMI. “For starters, each radio format has a specific audience with specific listener demographics. This allows B2B advertisers to be laser-focused in targeting their ideal audience based on factors like age, income, and profession, and to ensure the message reaches the most relevant potential customers like business owners, executives, and managers who listen to radio during commutes, on breaks, or while working.”
“Radio is an accessible medium that can reach decision makers when linear TV cannot, whether it is commuting to and from work, in the office or even at the gym,” said Heather Hansen, Media Director at SMI. “As AM/FM radio reaches 85% of business decision makers weekly, radio affords B2B campaigns the ability to efficiently and effectively reach their target audience where they are. The medium provides the frequency needed to build brand awareness, consideration, recall, and purchase intent, keeping the brands services top of mind for not only current business needs but for future business endeavors as well.”
Not only is radio more effective at reaching decision-makers than TV; it is a more cost-effective medium for advertisers.
“Testing radio advertising can be significantly less expensive than some other mediums, which is great for all businesses watching their bottom line” said Verrillo. “In short, radio is a great way for B2B companies to maximize their marketing budget while still reaching a targeted audience.”
According to Verrillo, the effectiveness of radio advertising for B2B marketing depends on various factors, including the target audience, frequency in airings, the type of product or service being advertised, as well as the creative execution of the ad campaign. But with careful planning, execution and measurement, radio is a highly effective marketing tool for B2B advertising.
Are you ready to reach decision-makers the proven, cost-effective medium of radio? Contact SMI today.
