For many advertisers, social media is a great way to stay in front of customers and create impact. But how can it be used to grow business?
In their book System1: Unlocking Profitable Growth, authors John Kearon, Orlando Wood, and Tom Ewing reveal, “Growth is driven by increasing sales to non-buyers and light users, and your brand needs to become more mentally and physically available to these people. This is why Byron Sharp, like Andrew Ehrenberg before him, recommends brands focus on winning new customers, rather than trying to increase existing customers’ loyalty. Contrary to popular belief, targeting a wide audience and including non-users is not a waste of money. It’s a key driver of growth.”
“To build Fame, target wide, touch deeply and be distinctive”
According to advertising expert Spike Santee, brands need to be “known before they’re needed.” How can brands or businesses achieve this? By building “fame.”
“Fame is what gets a brand onto a person’s mental shortlist,” write Kearon, Wood, and Ewing. “Getting onto people’s mental shortlists is an essential step for any brand. So too is ensuring the brand is available when people are making their choice. Fame consistently and strongly correlates with actual market share. The most purchased brands in a market are the most famous. So marketing must always aim for Fame.” They advise, “To build Fame, target wide, touch deeply and be distinctive.”
Facebook is losing its youngest audience and growing with older 55+ audiences
While a large platform, Facebook’s audience has seen a -9% erosion, according to Edison’s “Infinite Dial” study.
All of Facebook’s audience erosion is coming from young demos, persons 12-34, who are horrified that their grandparents are the fastest growing audience segment on the platform. Facebook’s persons 12-34 audience is down -28% while its 55+ audience is up +16%.
Grow reach: Add AM/FM radio to social media campaigns
Nielsen Scarborough reports that AM/FM radio’s audience trumps all social media platforms. +56% more people listen to AM/FM radio than use Facebook.
Surprisingly among persons 18-34, AM/FM radio’s reach is +47% larger than Facebook. Among persons 25-54, AM/FM radio’s radio reach is +43% bigger than Facebook.
AM/FM radio ads stand out more
AM/FM radio ads are noticed more than Facebook ads. Why? AM/FM radio content is far more engaging than social media.
The Interactive Advertising Bureau (IAB) conducted a study on content engagement and concentration. Americans were asked to indicate how much they concentrated when exposed to various forms of media. Content with the greatest degree of concentration consisted of information and spoken word such as news, weather, and podcasts.
Social media had the lowest level of consumer concentration, meaning social media ads suffer from low attentiveness as well.
The IAB study then examined content engagement by measuring consumer value. Audio content such as news, weather, podcasts, and music performed strongly with high levels of audience value.
Social media was dead last in consumer value. Ads in social media struggle given low consumer value perceptions and weak levels of engagement and concentration. Social media is impactful but does not stand out like audio.
AM/FM radio offers more frequency compared to social media
Ads are exposed more frequently on AM/FM radio than Facebook. People spend nearly twice as much time listening to AM/FM radio than they do on social media. Nielsen’s latest Q2 2021 Total Audience Report reveals AM/FM radio’s average daily time spent (1 hour and 22 minutes) is double that of social media (40 minutes).
Facebook + AM/FM radio = better impact
The three benefits to adding AM/FM radio to a social media campaign:
- Increased reach: AM/FM radio adds new, different people that Facebook cannot reach.
- Ads stand out: AM/FM radio ads are noticed more than Facebook ads. AM/FM radio is far more engaging than social media.
- More frequency: Ads are exposed more frequently on AM/FM radio than Facebook. People spend nearly twice as much time listening to AM/FM radio than they do on social media.
Grow a business or brand’s fame with AM/FM radio by targeting wide, touching deeply, and being distinctive.
Pierre Bouvard is Chief Insights Officer at CUMULUS MEDIA | Westwood One and President of the CUMULUS MEDIA | Westwood One Audio Active Group.
Contact the Insights team at CorpMarketing@westwoodone.com.