How Radio can reinvent to be effective & attractive for brands in tough times
Radio has been a source of local news and feel-good content during the lockdown months. It has been one of the few mediums that is currently churning out interesting fresh content and new offerings for listeners as well as brands. According to various reports, the stay-at-home radio listenership during the lockdown went up by as much as 23 per cent, compared to pre-COVID-19 times.
Storytelling has become a game changer, along with branded communication becoming more customer-centric, allowing people to connect and resonate with the brands. If one thinks about it, radio is the ultimate storytelling medium – and always has been. Listeners can multi-task in their homes and at the same listen to the programs. Especially in the current crisis, radio has been playing a vital role in keeping informed and entertained, besides fighting fake news.
However, at the same time, like all other media, radio, too, has been under pressure due to the slowdown in the economy. In its letter to Minister of Information and Broadcasting, Prakash Javadekar, in May this year, the Association of Radio Operators for India (AROI) had stated that without the Government’s support, the private FM players might incur a loss of Rs 600 crore by September. AROI has sought a relief package worth Rs 300 crore from the government.
Even as companies are recalibrating their business strategies, several marketing pundits and experts are of the opinion that brands need to seriously look at Tier 2 and 3 markets to grow and find new customers. Given Radio’s wide penetration even in rural markets, brands need to relook at effectively tapping this medium to engage with their audience.
As part of Adgully’s Strategic Move Series, we have brought together some of the best thinkers in the industry and the country’s radio business to discuss at length ‘The Power of Radio and its Effectiveness’.
Joining the discussions will be:
Abraham Thomas, CEO, Reliance Broadcast Network Ltd (Moderator)
L V Krishnan, CEO, TAM Media Research
Rahul Namjoshi, CEO, MY FM
Smita Murarka, VP Marketing & E-Commerce, Duroflex
Date: Saturday, June 27, 2020
Time: Between 4 pm and 5 pm
There is no registration fee. Prior registration is mandatory.