Cost Per Insertion: Radio and Social Media

For an average radio station with about 100,000 listeners, a decent advertisement will cost you about $50, thats 50 cents CPM. This is a great traditional method that has helped drive marketing campaigns for decades now. Measuring radio promotional costs seems to be much easier than measuring social media costs, but it is still nearly impossible to track your customers to see just how each one of them heard and gained interest of your product or service.

Social media involves more costs in certain areas. In the case of an online discussion group, there will be an initial labor cost depending on you or your employee who is searching for the ideal discussion group, one that shows the most promise in having interest in your promotions. Next is the post itself, an additional labor cost is added for the writing of the post and the later follow-ups needed to facilitate prospective consumer interest. Say this takes about 1 to 3 hours total of labor time at an average of $20/hour, now that looks more costly than radio, but the impressions are far greater on specific discussion groups than a radio station with a much more diverse audience that may not be the slightest bit of who you want to target.

This perpetuates the ongoing battle of advertising methods and which ones are going to give you the highest benefit with the lowest possible costs. A larger audience can be exposed to your ads sometimes with a lower cost, but the return may not be near the return you want. Then theres the more concentrated route of social media groups which can yield a high percentage of impressions but with more costs. The decision is yours.

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About qiclearning

Tech Media expert Lawrence Harte is at the core of the changing TV industry. As senior editor Social TV and other Magazines, he has interviewed over 3800 TV technology executives and professionals since 2005 who share they insights, solutions, and business information. He has authored over 112 technology and business books that explain how these systems work and are changing. He shares the latest innovations and shocking business changes trends of the Television industry including interactive holograms that you can feel (yes, this is real!), TV ad selection based on social media activities, and the economic changes of Internet TV content monetization. His expert consulting clients include Google TV, Samsung, Rovi, Centurylink, and others. Mr. Harte likes to demonstrate gadgets and do fun interactive audience exercises. People who hear him speak are amazed, fearful, and dazzled by what is coming.
This entry was posted in Marketing, Radio Advertisements, Radio Marketing, Social Media Economics, Social Media Marketing and tagged , , , , , , , . Bookmark the permalink.

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