mark ritson
The idea that podcasts are the future of radio is dangerous, says marketer Mark Ritson, founder of Marketing Week Mini MBA.
Speaking at the CRA (Commercial Radio & Audio) HEARD conference, Ritson revealed that investing 11% of an advertising campaign's budget in radio will double the impact.
But with some clients and the industry believing podcasts are the future of audio, radio often takes a backseat.
While podcasts can be seen as an opportunity to become a forward-looking brand, Ritson says the potential of radio cannot be discounted either.
“Podcasts are not the future in the sense that there is a shift from radio to podcasts. It's an incremental addition to radio advertising,” Ritson said. ad news.
“Podcasts aren't going to replace radio. If you work in the audio industry, you're allowed to have your cake and eat it too, because you've got this nice dollar-box radio. It's nowhere to be found. I’m not going. And let’s keep going.’ There’s a podcast at the top. ”
Another danger is when marketers and advertisers chop up radio content and drop it into podcasts.
“I think the right kind of podcast advertising is very different from radio,” Ritson said.
“Podcasts are part of the audio church, but they are a different beast and a growing beast.”
Although YouTube has ramped up its focus on audio in recent years, including investing in integrating podcasting tools into its traditional video-based platform, Ritson doesn't think audio will be successful on that platform.
“I think YouTube is a great video medium, a great complement to TV, and a great targeted short video tool,” Ritson said.
“But I don't think the audio space will be as successful for them. When you look at all the video data, you see how incredible it is.”
Radio doesn't have to be the main character
The best thing about radio is that it doesn't have to be the dominant medium, but instead is the ultimate companion.
And TV remains the primary brand-building medium, Ritson says.
“I don't know anyone who looks at the data fairly and doesn't agree with this,” Ritson said.
“That being said, [TV] Clearly, there is a reach issue, especially for young people, that needs to be addressed.
“One reason is that the cost of TV advertising hasn't come down significantly, but also because TV used to reach 70% of the population, and that's no longer the case.
“But I'm still a huge supporter of television, and even when I'm doing YouTube-related work, I still say no platform can replace television.
“Throughout the history of media, when television joined radio in the 1950s, we have learned that one medium will never trump the other, and that we will eventually find a new status quo. ”
Ritson points out that Uber Eats and Aldi campaigns both use radio to achieve long-term performance through beautiful execution and creativity.
“Unbeknownst to them, they must be putting about 10% of their marketing dollars into radio, using radio as the perfect companion to their other TV and digital work,” Ritson said. .
“And we need to look at these brands as some of the smartest marketers in the country.”
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