Far too many radio companies are still not putting mobility at the heart of their growth strategy. Sure they have a streaming app and some even have mobile-friendly websites but most are not prioritising mobile in to a world that is changing fast.
Being mobile, investing in technology and understanding the expectations of a digital-savvy listenership are critical for driving the radio business forward in 2015 and beyond.
And it’s not just radio. Mobility is today’s key driver for opportunity and growth across all business sectors and the radio advertising industry is yet to even scrape the surface of what is possible.
Think about this. Pretty much everyone you meet tomorrow will be carrying ‘a little black box’ about his or her person. This ‘box’ has more computing power than the rockets we sent to the moon. When this device is connected to a super-fast wireless or mobile network, you will be able to reach them with branded audio, video and various rich media in a way that was unthinkable just ten years ago.
It’s no wonder the wider advertising industry is in a spin. The first generation of mobile-only consumers is coming of age. This digital-native generation has grown up knowing nothing other than a permanently-connected online world. Furthermore, their boundaries regarding privacy are much more accepting than ours. They are willing to exchange information about themselves to help the brands they love interact with them in a more relevant way. Consequently, there are huge opportunities for a new wave of personalised marketing that consumers are open to.
Traditionally, brands have segmented their markets using demographic or psychographic information to identify groups of people with shared values or interests. The opportunity now is to take this down a level and put it on a more personal footing. With digital and social information readily available, advertisers can target listeners with relevant content in a more personalised way. The ultimate aim being to tailor the station’s output to meet every listener’s wants and needs in an individual way.
The examples are diverse, from a timely text from your favourite presenter to a radio station website that 'sees you coming'. And if these things have one thing in common, it is that they seek to replicate in the digital world the kind of effortless familiarity and knowledge with which, say, your local pub landlord remembers what you drink as you walk through the door.
That smartphone with its super-powered processor and daylight viewable screen is a mobile billboard with immense reach and the power to carry hyper-personalised content. And with a generation of mobile-only consumers demanding more relevance and engagement with the brands they love, a new era for radio advertising is on its way. You’d better be ready.