3 Misconceptions Financial Professionals Have About Radio

Radio, one of the oldest methods used to raise brand awareness, is still a top-reaching medium today. It comes as no surprise that many financial professionals have an interest in adding a radio show to their marketing strategy.

"93% of U.S. Adults 18 and older listen to the radio every week." –Neilson 2019

So, why is radio such an effective platform? Most American adults (yes adults – the ones the ones you want to reach) listen to the radio. It is the time-tested, trusted platform that you and 93% of American Adults listen to every day (Nielsen – 2019). Your target demographic is right there, tuning in, paying attention, searching for information, and taking action. Nonetheless, many financial professionals are not using this media, or they are not using it effectively.

Let's take a look at the most common objections we hear and how you can overcome them:

1) "I don't know where to start"

There is absolutely a learning curve when launching an effort in a new marketing method. Start at the beginning. You want to ensure you develop a show that reflects your brand, so take time to delve into how your brand translates to radio. Outline your first few show scripts and include the bullet points of topics you want to mention. Go through the basics to get started: consider mic presence, how to breathe, and muting your phone. It will take some time and practice to get comfortable with the new tool. Just break it down – and don't forget to use your S.M.A.R.T. Goal method worksheet!

2) "Radio is a significant investment"

Yes, radio is expensive. It allows you to reach your targeted audience in the vicinity of your office, however, in order to get them to respond, your message needs to be heard consistently. To do that, you need to ensure consistent time and a broad reach, which requires an investment. Consider working with a radio production agency as we can typically get the best industry rate.

Although radio seems expensive at first glance, the financial professionals we work with often see a very positive return on investment which makes it worth while. Radio has an expansive reach, builds instant credibility, and calls for a direct response. When positioned correctly, you are not selling; you are educating, relating, and encouraging the audience to contact you directly. 

"The spoken word can be heard around corners, can be processed when our eyes are closed...and can commandeer our attention when we are not paying attention." –Radio Ink 2018

3) "I did not see results fast enough"

Like any marketing effort, this will take time. You won't see results in 24 hours, and you need to stick with it long enough to accurately measure the effectiveness. Developing a relationship with your audience takes time and they need to hear your message frequently before they respond. By combining a radio show with paid advertisements, you can increase the frequency of your message and your chances of building that relationship.  

When you use radio correctly, your message is relevant; it has a level of urgency and carries certain credibility. Your message also has the intimacy of a one-on-one meeting, yet you're delivering it to thousands. While it may take time for you to build that relationship with your audience, if you are patient, you are likely to see positive results. 

While radio can be successful when executed correctly, it requires a serious investment of time and resources, so it doesn't work for everyone. A partnership with DMI and North Star Media group provides you with the assurance that your efforts will focus on the areas that will produce the most benefit.

Are you interested in discussing a radio strategy? Download our Radio Strategy Guide to learn more.

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Kurt Carberry - President North Star Media Group

DMI's radio partner, North Star Media Group, is a full service Advertising and Media Buying Agency that specializes in strategic planning and placement of radio commercials, programs and print advertising both locally and nationally. Our services include; experienced planning, media placement, print and audio production and creative design. North Star Media Group is one of the nations leading media buyers for radio paid programming placement.

* This content is for licensed financial professional use only. This website is not intended for use by the general public.

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    DMI was founded in 1989 to provide financial advisors three dynamic elements for success: marketing services, sales consulting and business management.

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