The Beginner’s Guide to Radio Auditing
9/12/2020 12:38 PM - Updated: 4 years ago
Radio can be an effective medium to reach your customers, but do you know how to measure its impact? Are you unclear on what a radio audit involves, or what process is used to identify its performance? If so, let us take you through some of the basics.
What is Radio Auditing?
Essentially a radio audit will benchmark local and national radio station prices (CPT) and the position of the airtime (Day-part & day of week) to help identify how efficient a client schedule is by target audience and region. Using this information, it will then provide a more balanced approach to brands strategic direction and help to maximize a campaign’s potential.
23 Media Audits have helped to save our medium-sized business over £70,000 in year 1 on radio costs alone and that’s without the strategic input they offer.
What Does a Radio Audit Involve?
A radio audit involves a detailed analysis of the key components of your radio campaign to build up a picture of performance.
The radio analysis can be based on specific criteria such as price, day-part allocation, coverage or delivery of ratings. Each component can be individually weighted to give a final score against the set benchmarks. Price benchmarks are against sales houses and delivery is based on individual stations where applicable. All of which allows you to track your performance across the metrics that matter most to you.
For a quick overview download our 10 Step Guide For Radio Media Plans which contains key measurement criteria for successful radio advertising campaigns.
The main input from our side as a challenger brand was having the information via 23 Media Audits that we could also be entitled to savings like the top tier of advertisers. 2020 has seen our cost for media reduced by 20% with no effects on our reach and targeting.
Did you know?
What Parameters Does a Radio Audit Cover?
KPI Setting
Setting clear KPI’s is an essential element of ensuring an effective radio campaign and audit process.
Brand Awareness
Promotional offers will encourage customers to come through the door, but the strength of your brand awareness is what keeps them coming back. Measuring brand awareness pre and post radio campaigns can be a strong indicator of how successful that campaign actually was in developing brand loyalty.
Reach
Radio has the potential to reach an enormous amount of potential customers and careful analysis of stations estimated reach can help you set realistic conversion goals for your campaign.
Website Traffic
Pre and post-campaign measurement of site traffic can be an effective indicator of radio campaign success. Pay extra attention to visitors who accessed the site by typing your brand into a search engine.
Sales Uplift
Did your sales increase as a result of the radio campaign? Promotional discounts tailored to specific campaigns are a good way of engaging customers and measuring effectiveness.
Return on Ad Spend
Analysing sales uplift in the context of your radio spend is the ultimate measure of campaign success.
Did you know?
What Can Our Radio Audit Deliver?
Radio auditing in 2019 & 2020 has saved our clients in the region of 14% on their advertising spend. That equates to a saving of £140 for every £1000 spent pre-audit on the same stations meaning only £860 needs to be spent to reach the same amount of people.
1.
An affordable price for brands with a X6 saving vs. the audit fee.
2.
Our Radio Audit has the ability to generate savings of 14%+ vs. an unaudited delivery.
3.
A quick process from data collection through to presentation of results.
4.
A human insight into the deliverables – the design is bespoke to individual campaign KPI’s.
5.
Makes your media buying more efficient and makes your marketing output more effective.
For further insight Download Our Radio Audit Guide which contains a more in depth look at all radio auditing parameters and includes example charts and dashboards.