Investing just 11 per cent of an advertising campaign budget in radio will double its effectiveness, according to a ground-breaking Australian study revealed at HEARD 2024.
Lead Image: Fiona Ellis-Jones, Amanda Keller, Erin Molan, Kate Ritchie and Deb Knight
Professor Mark Ritson revealed the findings to an audience of around 500 people at the industry event in Sydney, where some of the sharpest minds in advertising and the most iconic radio stars in Australia also shared their insights on the power of audio. “Radio has been underrated in maximising the overall impact of your marketing,” Prof. Ritson said.
“For the best bang-for-buck, marketers should consider radio as an integral part of the channel mix – and an 11% investment can double your campaign’s impact”.
Professor Ritson, widely acknowledged as one of the world’s leading marketing educators, collaborated with CRA on the study to better understand how much investing in radio can influence an ad campaign’s effectiveness. “Radio doesn’t need to be the hero or the lead media, but it does drive a disproportionately large impact for a relatively modest investment of just 11%. It’s the ultimate sidekick,” he said.
Professor Ritson was welcomed to HEARD by Ciaran Davis, chairman of CRA and CEO and Managing Director of ARN Media. “Mark Ritson is one of the world’s most respected marketing minds and he’s passionate about the power of radio,” Davis said.
“Radio and audio deliver the best bang for your advertising buck. That is why we’ve seen our industry remain steady despite the challenging conditions over the past 12 months”.
“If advertisers aren’t thinking about investing in radio, then they’re missing a significant opportunity to drive ROI for their business,” Davis said.
The study analysed the Advertising Council of Australia’s Effectiveness Database to discover how changes in the allocation of advertising budget in radio impacted the success of a campaign, in terms of commercial outcomes for clients. The ACA Effectiveness Database includes all Effie Award entries since 2018, which are recognised as the pinnacle of advertising excellence.
Other HEARD highlights included consumer psychologist and founder of Thinkerbell, Adam Ferrier, who hosted an immersive experience that explored the impact of audio on emotion; and a panel discussion with managing director of Analytic Partners, Paul Sinkinson on radio’s ability to improve return on investment when used in brand campaigns.
Attendees also had the opportunity to hear valuable radio and audio insights from some of the most popular stars of Australia’s airwaves, including hosts Tim Blackwell and Joel Creasey, and a panel discussion with Amanda Keller, Deb Knight, Kate Ritchie and Erin Molan.
