Will The Pierre Hotel's power breakfast be your cup of tea?

In what is perceived to be an unusual move, The Pierre Hotel is partnering with Bloomberg to reach financial community leaders.  The goal is simple.  Convince them to use the hotel for their corporate events. (Gazdik, 2017)

What's different is the use of radio to do it.  Luxury hotels don't advertise on radio.  One has to wonder why.  According to the latest data from Nielsen, AM/FM stations reach 97% of the U.S. population, and 92% of Millennials.  74% of adults in the U.S. listen to AM/FM stations daily, while only 15% are choosing Pandora and 6% are choosing Spotify. (Murphy, 2016)

But, it's not unusual for marketers to get stuck in a media rut, despite the fact that alternatives might do a better job of reaching their targets and achieving their objectives. 

I can still remember the lengths I had to go to when we launched Lucent Technologies in 1996, to convince the client to use prime time television for a B-to-B product.  Eventually I was successful in convincing him to be on almost all of NBC's powerhouse Thursday night line-up (the exception was Friends) and the results were extraordinary.  We went from zero awareness to ubiquity overnight.  No wonder the stock quadrupled.

So, I have high hopes for the Pierre's effort on Bloomberg because it seems like a perfect way to engage the target.  "Power Breakfast at the Hotel Pierre," will air nationally from 7 to 10 am each weekday through the end of March. 

I may even check it out.  Will you?

Previous blog: http://pjlehrer.blogspot.com/2016/08/do-you-love-radio-are-you-millennial.html

Gazdik, T. (2017, January 6)  Hotel Partners With Bloomberg For Promotion.  mediapost.com.  Retrieved January 6, 2017, from

http://www.mediapost.com/publications/article/292280/hotel-partners-with-bloomberg-for-promotion.html?utm_source=newsletter&utm_medium=email&utm_content=headline&utm_campaign=99400

Murphy, T. (2016, August 3)  Millennials Love Radio. Wait. What?  mediapost.com.  Retrieved August 4, 2016, from http://www.mediapost.com/publications/article/281359/millennials-love-radio-wait-what.html

Do you love radio? Are you a Millennial?

Radio is the most ubiquitous medium.  It has the most active users per month - totaling 240 million, and AM/FM stations reach 97% of U.S. adults.  And while you might think that more people are listening to Pandora and Spotify, turns out that only 15% listen to Pandora and 6% choose Spotify.

Why?  It turns out that consumers have a deep emotional connection to their favorite stations and local personalities. (Murphy, 2016)

Does this resonate with you?  Do you listen to AM/FM radio?  Do you have a favorite station and personality?  And what about Pandora and Spotify?  Do you listen to them too?

Murphy, T. (2016, August 3)  Millennials Love Radio.  Wait, What?  mediapost.com.  Retrieved August 4, 2016, from http://www.mediapost.com/publications/article/281359/millennials-love-radio-wait-what.html?utm_source=newsletter&utm_medium=email&utm_content=mostread&utm_campaign=95249

Did you listen to a radio ad last week? Me too.

10/27/11

I have often said that radio deserves more respect than it gets from advertisers who are embracing new technologies at the expense of those that have stood the test of time. 

Now comes word that radio has added an additional 1.7 million listeners in the past year.  That means that 93% of the U.S. 12 and up population is tuning in on an average week.  Furthermore, the growth is attributed to younger people, with 12-17 year old listeners up 36% and 18-34 year-olds up 80%.  Radio’s diversity is increasing as well, and the medium is now reaching 93% of African-Americans and 95% of Hispanics. (Loechner, 2011)

So that begs the question, are you a listener?  Have you thought about using radio to reach teens before?  Will you now?

Loechner, J. (2011, October 21)  Anybody Listening?  mediapost.com.  Retrieved October 26, 2011, from

http://www.mediapost.com/publications/article/160571/anybody-listening.html

Have you listened to a radio ad lately?

7/7/11

According to the latest Arbitron stats, radio’s reach has increased by 2 million people in the past year and the medium is reaching 74% of the U.S. population over 12. (Sass, 2011)

Additional research suggests that 92% of them stay tuned during commercials. What about you? Are you listening to radio commercials? If so, why? (Adweek, 2006)

Sass, E. (2011, July 5) Arbitron: Radio Ups Reach By 2 Million Listeners. mediapost.com. Retrieved July 6, 2011, from
http://www.mediapost.com/publications/?fa=Articles.showArticle&art_aid=153582&nid=128526

(2006, October 23). Radio Listeners Stay Tuned During Commercials. Adweek p1

Will dialing become obsolete?

5/13/10

This just in from Amsterdam – a radio ad for a local restaurant that does the dialing for you. At the end of the ad, instead of giving listeners the reservations phone number verbally, the spot broadcasts the tones that communicate the phone number. All the listener has to do is hold up their phone and ta da. They are connected. (Corr, 2010)

Interesting. Now if they could only beam you directly to the restaurant so you don’t get lost in the maze of streets with long unpronounceable names on your way.

Corr, A. (May 3, 2010). Hungry? This Radio Ad Dials Your Dinner Reservation. Mediapost.com. Retrieved May 13, 2010, from
http://www.mediapost.com/publications/?fa=Articles.showArticle&art_aid=127397

Radio Stages a Comeback.

4/21/10

Forecasts for U.S. adverting spending in 2010 are on the rise. Barclay’s Capital is now predicting yearly increases of 5.5% for the industry, due to larger expenditures in the automotive and political categories. (Loechner, 2010)

But the most interesting news is that radio spending, which has been declining for years, is now forecasted to increase by 7.4% in 2010.

Why? Radio stations are local, highly targeted, and 77% of adults listen daily (including 80% of adults 18-34). (Loechner, 2009).

Clearly it was premature to count this “old” medium out. Is a rebound for newspapers on the horizon too?


Loechner, J. (2010, April 16). Radio Leads Way For Bounce in Ad Forecast. Mediapost.com. Retrieved April 21, 2010, from
http://www.mediapost.com/publications/?fa=Articles.showArticle&art_aid=125882

Loechner, J. (2009, November 9). Radio Dominant Audio Device. Mediapost.com. Retrieved November 9, 2009, from
http://www.mediapost.com/publications/index.cfm?fa=Articles.showArticle&art_aid=117009

Why isn’t radio getting the respect (and ad dollars) that it deserves?

11/12/09

According to a recent study by the Council for Research Excellence, 77% of adults are reached by broadcast radio on a daily basis, second only to television. Among the coveted 18-34 year old target the percentage jumps to 80%. (“Radio Dominant Audio Device”, 2009).

As we have discussed in class, radio provides well-defined audiences on a local basis, and a 92% retention rate during commercials, at a low out-of-pocket cost. (“Radio Listeners Stay Tuned During Commercials, 2006).

Yet, CBS radio revenues fell -19% in the third quarter; and their predicament is not unique as the entire category experienced a -20% drop. (Sass, 2009).

If we are all still listening to radio, why aren’t advertisers continuing to advertise on it? Do you find radio advertising less persuasive than other forms of advertising? Have you ever bought something after hearing a radio ad?


Radio Dominant Audio Device. (2009, November 9). news@mediapost.com. Retrived via email November 9, 2009.

Radio Listeners Stay Tuned During Commercials. (2006, October 23). Adweek.
inside front cover.

Sass, E. (2009, November 6). CBS Radio Revenues Fall 19%. mediapost.com. Retrived November 11, 2009, from
http://www.mediapost.com/publications/?fa=Articles.showArticle&art_aid=117001

Why isn’t radio getting the respect (and ad dollars) that it deserves?

11/12/09

According to a recent study by the Council for Research Excellence, 77% of adults are reached by broadcast radio on a daily basis, second only to television. Among the coveted 18-34 year old target the percentage jumps to 80%. (“Radio Dominant Audio Device”, 2009).

As we have discussed in class, radio provides well-defined audiences on a local basis, and a 92% retention rate during commercials, at a low out-of-pocket cost. (“Radio Listeners Stay Tuned During Commercials, 2006).

Yet, CBS radio revenues fell -19% in the third quarter; and their predicament is not unique as the entire category experienced a -20% drop. (Sass, 2009).

If we are all still listening to radio, why aren’t advertisers continuing to advertise on it? Do you find radio advertising less persuasive than other forms of advertising? Have you ever bought something after hearing a radio ad?


Radio Dominant Audio Device. (2009, November 9). news@mediapost.com. Retrived via email November 9, 2009.

Radio Listeners Stay Tuned During Commercials. (2006, October 23). Adweek.
inside front cover.

Sass, E. (2009, November 6). CBS Radio Revenues Fall 19%. mediapost.com. Retrived November 11, 2009, from
http://www.mediapost.com/publications/?fa=Articles.showArticle&art_aid=117001