Exploring the Real Costs of Radio Advertising – ‘The Radio Agency’ Offers Cost Transparency With Premium Audio Advertising for Less Than Many Might Guess
The Radio Agency recently revealed some surprising facts related to the cost of running a radio ad campaign for a typical organization or business. In an industry that is notoriously opaque about pricing, CEO Mark Lipsky opened up about the process of arriving at advertising costs, based on Nielsen audio research, and explained some of the nuances related to how those costs are assessed. The Radio Agency is a global marketing company that provides high quality, audio-only advertising 100% focused on AM/FM, SiriusXM Satellite, streaming audio, and podcasts to generate increased sales for a diverse clientele.
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“Most advertising agencies absolutely dread the question of how much it costs to run a radio advertising campaign,” said Lipsky. “But we understand the importance of an advertiser knowing the costs involved, so they can make informed decisions.”
Every advertising campaign is different with 10,000+ media choices in the U.S. across AM/FM, satellite, podcasts, and digital streaming. Lipsky advises setting a national test budget between $50,000–$100,000 for an average 4-to-6-week national campaign. Local campaigns can cost far less, but costs will vary dramatically depending on market size. For instance, a radio ad running in New York City is going to cost substantially more than an ad running in Wichita.
“It’s a sad truth, but underfunded programs are the number one killer of successful advertising campaigns,” Lipsky asserts. “If a major market campaign requires $40,000 to deliver an appropriate number of advertising impressions, a budget half that amount will fail to deliver the impact needed to convert mild customer interest to a decisive action to purchase.”
For Creative & Production, The Radio Agency charges a flat fee of $5,500 to deliver two, fully-produced commercials with full rights to air those commercials in perpetuity without additional cost. That includes the services of five radio copywriters (for multiple styles and perspectives), script editors, voice talent, studio time, talent direction, audio engineer, editing, music and sound effects licensing and mastering alternate versions if unique numbers, URLs or promo codes are being used to track response.
“We’re happy to take the time to talk an advertiser through the process of determining what an appropriate budget range might be for their campaign,” says Lipsky. “Taking the mystery out of creating and managing a profitable radio advertising campaign is why we’ve been able to direct the audio marketing efforts of many of America’s best-loved brands.”
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