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Structuring Direct Response Marketing Offers for RadioBy Gary Kretchmer, Vice PresidentLearn more about direct response radio and per inquiry advertisingRadio has long history of success. Over time it has effectively repurposed itself from earlier days when it was a primary medium, to its place today as a companion medium. So even though people listen to radio while they’re doing something else, its potency has still held up. Radio delivers personality, influence and loyalty to its listeners. And people depend on radio for news, entertainment, information, and comfort. These are powerful qualities. But most direct response marketers aren’t taking advantage of radio advertising. Although radio is an important advertising medium for retailers, many direct response marketers have devoted more attention to direct mail, DRTV, print and now the Internet. Is radio an effective direct response medium? Is there value in making radio direct response advertising a part of your growth plans? Direct Response Radio Generates High Quality LeadsUnderstand that radio does not generate responses that are as impulsive as other electronic media. However, what may be lacking in spontaneity will be made up in conversion quality. Radio generates sales conversions that can be as much as 50% higher than DRTV. It’s pretty remarkable, but it makes sense. Radio respondents are usually more motivated because of the effort required to respond. First they need to understand enough about the product or service without being able to see it. Then they need to stop what they’re doing to remember the toll-free phone number or write it down. Finally, they need to call without misdialing. Prospects who get that far are pretty interested, and they tend to convert to customers at a higher-than-average rate. Lead Generation Offers are More ResponsiveThe best way to make your radio advertising motivating to listeners is to structure the offer to generate sales leads rather than to “buy NOW.” Radio listeners are not prepared or comfortable purchasing a product immediately after hearing about it in a quick 60-second commercial. They will want to learn more about your product through conversation, demonstration, examination and/or inspection. It’s very challenging to convince listeners to “have their credit card ready when calling.” Respondents will need to learn more in a two-step process before they will be ready to buy. There are a variety of ways to structure your offer for lead generation. Here is a list of some of the offers that are effective through radio advertising:
You should also try to sweeten the offer with some sort of added benefit, such as a discount or premium “if you call now.” Or make the offer exclusive, such as a “special radio offer.” This will further motivate the listener to take action. Good Telemarketing Systems are Critical to Your SuccessIf you’re confident you can sell your product to prospects in the initial phone call, you need to have a well-trained and sales-oriented inbound telemarketing center in place. If you don’t have a full time staff in house, there are some very competent independent call centers that specialize in converting a caller into a customer. However, be prepared to fulfill “free” information to callers that are not ready to buy. You will find a significant percentage of callers will simply want more information first. Testing Can Turn a Good Program into a Great OneTesting is an important part of optimizing your radio direct response advertising program. Limit your media expenditures until you’re confident you have a winning offer. Ensure you are making the right decisions by tracking every radio station independently. You do this by assigning a different toll free phone number to each station. And pay close attention to the call reports as well so you can fine-tune your operator script. Most importantly, always track your results all the way through from response to sale. You may find that a radio station with lower response actually generates customers with a higher lifetime value. Radio advertising isn’t for everybody. But if you have a product that doesn’t require a visual demonstration to understand its benefits, and the economics allow you to two-step the offer, then you should consider radio advertising as a potent way to expand your marketing efforts and deliver high quality leads. Learn more about direct response radio and per inquiry advertisingMeet Gary Kretchmer Target + Response Inc |
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