March 23rd, 2016 | Read more articles from 2016 or Visit the News Archive
Follow the (Agency) Money
By Fred Jacobs
Radio has a history of trying to give advertisers what they want. After all, wasn’t it so-called agency dictates that tipped so many radio stations into trying to appeal to 25-54 year-olds? It’s always been about chasing those elusive ad dollars.
So you’d think that when agency bigwigs come right out with precisely what they’re looking for from media sources, radio should be paying close attention.
Now a STRATA research study conducted late last year among agency execs reveals rapidly rising interest in streaming video, as well as streaming audio, as media ad vehicles. From year to year, three-quarters say their clients are more interested in streaming video, while more than half say streaming audio has gained in importance.
These “Mad Men” (and women) have a fixation on visual media, led in large part by their outsized interest in streaming video. In many ways, radio has obvious advantages over so many other media outlets – IF it answers the agency bell and steps up with video as a marketing tool.
Yet for so many radio operators, video is still embryonic. Some stations (or clusters) now have a video editor on staff, as well as capital investments in cameras, editing software, and other tools. But for many others, video isn’t even in the tool kit.
And by the way, our new Techsurvey results continue to point to the reality that a larger percentage of the radio audience streams video over audio, underscoring just how pervasive online video consumption has become. Between Netflix, YouTube, and the myriad other web streaming services providing movies, comedy, news, music, and other video offerings, consumers just can’t seem to get enough video. We’re also seeing a sharp rise in connected TVs, another indication that hardware and software are coming together to power this trend.
One of the takeaways at Gordon Borrell’s Local Online Advertising Conference earlier this month was the need for integration in sales and marketing packaging. Web video is a key component in creating multi-media campaigns that can capture more ad dollars, while giving the audience more reasons to engage with station personalities and the brand itself.