Radio advertising costs include the cost to produce your radio commercial and the cost to run your radio ad (or spot) on the air. Budget between $300 and $1000 to produce the ad, including marketing strategy, copywriting, voice talent and any sound editing.
While many radio stations will offer to produce your radio ad for free, this might not be the best financial decision in the long run. An ad that was created for $0 and aired for $500 but produces only $400 in sales, has actually cost you $100. Spending $500 for a more effective ad and $500 for the same air time and netting $1600 in sales is a no-brainer good-business decision.
Air time is sold in “spots.” A “60 spot” is 60-seconds of air time. You will find radio stations selling a 60 spot for as little $3 or as much as $500, depending on their audience size and the time of day the ad runs. The majority of radio spots cost in the $20 – $80 range. Usually radio advertising prices are quoted as a 30 spot or 60 spot aired during a particular daypart. Dayparts are Morning Drive (6:00 a.m. – 10:00 a.m.), Mid-Day (10:00 a.m. – 3:00 p.m.), Afternoon Drive (3:00 p.m. – 7:00 p.m.), Evenings (7:00 p.m. – 12:00 midnight) and Overnight (midnight – 6 AM)
If you have no experience with advertising on the radio, you may want to consider looking for a radio commercial advertising agency. They will be able to find a radio station whose listeners’ demographics match your target audience. If you are selling bridal gowns, you don’t want your commercial running on a station or at a time where 80% of the listeners are middle-age men driving to work. Look for an agency with a proven track record of successful campaigns. Radio advertising must translate into sales.
To test radio’s effectiveness, experts suggest you budget for a campaign of 20 spots a week, running your ad once each morning, mid-day and evening on Monday through Saturday and twice on Sunday. To conduct such a test is likely to cost anywhere from $1500 to $4000.
Source: Anne Emerick at GoArticles.com.