Case Study: Finance Company
THE PROBLEM
Prior to 2015, a personal finance company had tested National Network and Satellite radio with no discernible success. No significant signal was seen nationally to the baseline of web traffic.
OUR CHALLENGE
Prove that high-frequency penetration in test markets could show a lift amid all other marketing noise.
OUR SOLUTION
After proving spot radio with local market testing, the client’s radio budgets grew 3x yearly since 2015.
By 2019 - 75% of overall audio spend was allocated to local radio on a national footprint.
The client ran over 400,000 local radio spots in 2019 and dominated SOV in their category.
Approximate A18-49 CPM - $1.38
25% of the total budget evolved into National Network Radio.
Results - A Testing Platform was Created
In Q1 2017 Client tested a new tax product line extension. It was tested on Local Spot Radio, TV, and Social. Local Radio proved to drive the most efficient initial results. Over 2018 and 2019 Client doubled the tax product budget and we determined that Local Radio should be utilized as the first testing platform for all new Client product lines in the future.
In Q4 2019 we tested the high-yield savings account product in 7 Local Radio markets. This new product line extension was designed to re-engage existing Client customers.
Radio proved successful in initial testing with a National rollout with Casual Precision slated for Feb/Mar 2020. CPMs were kept at or below our proposal and are still proving successful today.
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