Listen up: According to a recent study by market research firm Mark Kassof & Co. in Ann Arbor, Michigan, Americans rate radio as more important to them than television. Forty-five percent of those surveyed said radio was "very important" to them, while only 31 percent said the same of television.
What should all this tell smart entrepreneurs? That radio advertising is a hot marketing ticket. Radio revenues have been growing for the past three years, according to Gary Fries, president of the Radio Advertising Bureau, a consulting and training firm in New York City. "We're seeing phenomenal revenue growth far in excess of total advertising expenditures, which means radio is growing faster than other mediums are," he says.
Radio may be an ideal way for small businesses to trumpet their wares for several reasons: Radio advertising is portable; listeners in stores, workplaces or cars are a captive audience; and, if they're listening in their cars, your ad may be the last major media your customers come in contact with before making a buying decision.