WESTWOOD ONE Chief Insights Officer PIERRE BOUVARD’s latest post at the company blog offers highlights from a study commissioned by the syndicator that showed AM/FM radio being valuable to the advertising plans of financial services companies.
The study by MESH EXPERIENCE looked at the media consumption of people with over $500,000 in investable assets, and found that the best target demographic for that category is 35+, with half of the potential investors in the 35-64 group and the rest mostly over 65. Among those saying that they are in the market for a new or additional financial services firm in the next 12 months — 23% of the total — heavy AM/FM radio listeners are three times more likely than heavy linear TV watchers to be in-market consumers.
In addition, BOUVARD notes that since employed individuals are 11 times more likely to be in the market for a new financial services firm compared to retired people, and AM/FM appeals to current workers while linear TV appeals to the retired, AM/FM would be a good choice to reach those looking to find a new investment firm. BOUVARD also touts Oldies/Classic Hits, Classic Rock, News/Talk, Rock, and Top 40 as the best options to target people with over $500,000 of investable assets, and Classic Rock, Rock, News/Talk, Oldies/Classic Hits, Top 40, Sports, Adult Contemporary, and NPR for those looking for a new investment firm. He adds that a NIELSEN MEDIA IMPACT study estimates an average 63% lift by adding AM/FM to an ad spend for financial services brands.
Read the post here.
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