Radio isn't getting its fair share of marketing dollars and not only is that costing US money, but it's also making all traditional ad buys inefficient.
That's the conclusion of a ThinkVine study released this week.
Mark Battaglia, CEO of ThinkVine, said the miscalculations stem from brands relying on outdated marketing mix techniques or previous years' plans that don't take rapidly changing consumer behavior into account. "Many marketers have started using big data to improve their campaigns, but very few are taking advantage of consumer data to optimize their marketing spend and determine the best media to reach their targeted audience."
The report says that instead of putting 19% of their budget to radio, it should be 26% for maximum impact and efficiency.
Sadly, radio receiving short shrift from media buyers is really nothing new.
Maybe some day, radio sellers will stop focusing on converting radio buys from one station to another and start looking outside traditional "radio money" for revenue.
Until we sell radio's effectiveness against other media, the trend will continue.
We are our own worst enemy.
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