Cost of Advertising on Radio Stations in Nigeria and Radio Airtime Rates
Cost of advertising on radio stations in Nigeria differs based on so many factors.
For example; the particular radio station you want to advertise on, the time of the year, the time of the day (peak or off Peak), the type of advertisement you want to do (jingle, announcement or hype). These and more make up for the cost of advertising on radio stations in Nigeria.
Radio stations in Nigeria gives you an opportunity to reach large local and international audiences.
Therefore, the cost of advertising on radio stations in Nigeria should not make you panic because of the value it offers is huge. Placing programs on radio stations helps you get to your potential audience and targets faster.
Do you have a product, service or brand you want to advertise on Radio Stations in Nigeria? And you need to know the cost of advertising on radio stations and radio airtime rates.
Radio ads are an effective, low-cost medium through which a business can reach a target consumer. It is particularly effective in Lagos where the traffic jam causes many to tune on their car radio.
It is a good medium of advertising in major cities because it can reach a large audience faster because of their large following. Below are some of the things that affect the cost of radio stations in Nigeria.
FACTORS THAT THE COST OF ADVERTISING ON RADIO ADVERTISING
The Ad Length
The cost of advertising on radio stations depends on the length of the ad, the person who produces the ad, the program in which it airs – as well as how many times it has been aired – all determine advertising costs.
The length of the ad also influences the price. A quick, 10-to-15 second ad will be less expensive than a 30- or a 60-second ad. Most stations are offered shorter commercials to follow a faster-paced society with a greater number of ads during a show than were shown several decades ago.
The Number of Times Your Ads Will Be Put On Air
Radio stations usually have an in-house production company that can write and produce advertisements with their own marketing team. The local radio stations can also help to figure out which audience would benefit most from your ad, and from there, the number of times your ad should air.
The time of the day the ads will play (Peak or Off Peak)
Radio stations have a time they refer to as the peak and off peak. The peak time between (6am- 11am) and evenings usually rate higher than the off peak which is between (11am-3pm). Choosing an appropriate time depending on what you are advertising affect the cost of advertising on radio stations. If you want your ad to be aired to the right audience then you have to choose the right time to meet your target audience.
The Time of Year
If you are looking to invest in radio stations advertising, then the beginning of the year is your time to do that. Stations are coming off of heavy holiday expenditures and they’re hungry to generate revenue. Ask them to wheel and deal, and you can come away with a comparative bargain. So if you want a good price rate target the beginning of the year for your ads.
The great news is that stations are ready and willing to work with your budget, so there is no reason not to market yourself fully.
The Radio Station
Cost differs from one radio station to another. The audience you want to target are in some radio stations and might not be really found in others. The cost of advertising on radio stations differs depending on the popularity of the radio station. Therefore, you need to make a research on the particular radio station where you know has a large following of your target audience.
The Script/ Voiceover
If you are getting an in house person to write the the script or do the voiceover for your product or service, then the cost will differ. The length of the script or voiceover would cost higher and the particular person who does the voiceover will be paid a fee.
RADIO AIRTIME RATES IN NIGERIA
Airtime is sold in blocks of one hour, though blocks as small as 30 minutes are available during regular office hours. Pricing is different for both live and recorded shows. Radio airtime rates in Nigeria has all has different costing. The lengthier the time the more you pay. The shorter the airtime the lesser the rate.
To achieve a better result in radio stations, it is advisable to get t different airtimes that will be streamed at different times to reach your target audience.
BENEFITS OF ADVERTISING ON RADIO STATIONS IN NIGERIA
Radio station targets specific demographics and market segments. Therefore, by choosing which station to broadcast with, there is a certainty that you will meet potential customers and increase the frequency of get return on investment.
Radio Advertising works with frequency to reach your target audience. Radio is the perfect medium for this, being able to expose your ad to the audience repeatedly to build awareness. Also due to the loyalty of people listening to the same station, you are able to impact the same people more often than any other medium.
Sound is more effectively stored in memory that is an advantage that radio stations have. In addition, there is the ability to instill emotion and also allows listeners to use their imagination to create their own image of the product/service.
Advertising on radio stations have significantly less costs compared to other types of media. Television stations and print media ads can go up to hundreds of thousands including costs for video equipment, studio time, actors, and models. Radios ads require less resources while being able to reach the same target audience that a television spot would have resulted in.
Lead times with print and television ads can be very long, especially with planning and may take up to months for the ad to run. In contrast, radio adverts production is shorter and can be done within days. Another advantage of this is the ability to adapt and react quickly to changing market conditions.
You can track results quickly and accurately compared to television where it may take months for measurable results or print media which can be even more difficult to track. Results for radio ads can be analyzed on a daily basis, and if the message is not working in a week or two, a new radio spot can replace it efficiently as mentioned above.
With the widespread access people have to radio, even indirectly through shopping centers and supermarkets, radio continues to have a big presence in the advertising industry. Businesses of all sizes should continue to consider it as a top medium to advertise their product/services as the advantages over other resources remain strong.
THE REASON ADVERTISERS USE RADIO AS A MEDIUM
It creates an immediate reaction
Clearly targeted audience at the right time
It reaches listeners at the right place
Radio has low ad avoidance
It is perceived usually as a friend
Radio has a multiplier effect on other media
Radio drives response especially online
Radio is ubiquitous
It creates a large share of mind for a brand
Radio’s core strength is the power of words and sounds
Radio is resilient
Radio remains relevant today providing entertainment that people need even according to their demography, geography and ethnicity. Therefore, it is important that we recognize these advantages that this medium offers and take advantage of it.
Radio is one of the available means a business can touch with its current and potential customers in today’s modern mass communication world.
WHAT YOU NEED TO KNOW ABOUT RADIO STATIONS IN NIGERIA
Radio listeners are more attached to the presence of their radio outputs, in the car, at work and now through their mobile phones or on the internet increasing the person’s dependency.
Radio is the most accessible and portable of the media able to adapt more quickly to listeners changing their listening habits.
Radio is more easily targeted with simultaneously both a healthy younger and older listening profile.
Radio has the ability to remain localized and at the same time cover national and international events.
Radio research has also shown the listener has an emotional attachment to their radio station (More on this medium than any other form of adverts).
Advertising on Radio is more affordable and allows the listener to carry on listening while on the move.
Radio programs are much cheaper to produce on radio.
“Radio is the Theatre of the Mind.” It demonstrates the power of the spoken word, and the ability of audio alone to create powerful and vivid pictures in the mind of the listener.
All the sounds together will help the listener create their own pictures. These pictures are much stronger than most visuals because they are self-generated; they are the listener’s unique images, created much like the reader of a novel creates the scenes they are reading about.
”You can close your eyes, but you can’t close your ears.”
Listening to radio, the listener even involuntarily largely creates their own pictures often in great detail.
They’ll picture what the presenter or the people behind the voices look like react themselves to the type of voices they hear, often reacting strongly and actively liking the voices themselves.
They’ll also become quite involved if interested in what the voices say and the way they say it.
React to any music used creating an atmosphere that the listener brings their own emotions to.
They use simple sound effects to create pictures in the listeners own imagination.
In conclusion, the cost of advertising on radio stations in Nigeria is relatively better than so many other mediums. The radio airtime rates are favorable for low budgets.
Choose the right media for the target market and dominate it.