During an engaging panel discussion at the inaugural exchange4media Golden Mikes - Radio & Audio Conference, industry leaders delved into the transformative impact of audio on brand strategy. Themed "The Power of Sound: Leveraging Audio to Build and Strengthen Brands," the event gathered insights from marketing and radio broadcasting experts.
Atul Razdan, Chief Marketing Officer, BIG FM, Monalisa Mandal, VP Marketing & Digital, Fever Network, Sujay Rachh, Chief Marketing Officer, Nuvama Group, Chandan Kumar, Joint President Marketing, Head Brand Design, Brand & Communication Strategy, UltraTech Cement, Aalhad Wadekar, Category Head- Personal Mobility, Gulf Oil India, Bhavin Devpuria, Head Marketing - India & Sri Lanka, Triumph Group and Jahan Vandrevala Head of Content, Content Channels, Pfizer were among the panelists. The session was moderated by Sonam Saini, Assistant Editor, exchange4media group
Razdan highlighted the evolving landscape in which radio broadcasters are increasingly embracing multimedia platforms. He emphasized the importance of leveraging core strengths to remain relevant in the rapidly changing media environment.
He stated, "It's crucial to align with the strengths of the medium. Can radio achieve the brand's objective effectively, or would other mediums be more suitable? It's important to be selective in these considerations. Are we developing content aimed at raising awareness, emphasizing frequency? Or is our focus on engagement, relying on storytelling? These distinctions are vital for the radio industry to grasp and act upon."
Mandal echoed the sentiment, stressing that radio has evolved beyond traditional boundaries. She talked about its integration into social media, live entertainment, and podcasting, underscoring its versatility as a medium for storytelling and brand engagement.
“There is no battle between the other media vehicles and radio. Everything has to beautifully co-exist. This is the reason we are saying that radio has, over a period of time, evolved. The evolution has definitely happened in radio. And in today's day and age, we cannot say that radio is just radio. It has become so much more, Radio Plus. We can tell a story in any medium brands want us to perform,” shared Mandal.
The discussion also delved into how good of a marketing tool radio can be in today’s time. Rachh shared that in his earlier stints, radio was an important medium because the brand was talking to a certain set of audience that was readily available on radio. However, in his current mandate, it's not the same. He said, “In my current mandate, I am speaking to a slightly top-of-the-pyramid audience and so the value of radio as a medium has probably diminished because of the digital proliferation.”
Kumar emphasized that radio has evolved significantly, encompassing radio broadcasts, podcasts, and digital audio formats today. He highlighted several key factors that continue to drive the relevance of audio media, including its flexible aspect. He also said that the core elements of radio are music and storytelling which are inherently positive and uplifting. This positivity enhances the audience's receptiveness to advertisements. When listeners are in a positive state of mind, they are more likely to engage meaningfully with marketing messages.
Sharing her views on the same, Wadekar said as long as listening or hearing is an integral part of message comprehension, any form of audio medium will stand true. So, from that context, radio, or any of the audio medium makes a lot of sense.
“If I have to evaluate this as a medium, I will look at 4-5 things-- reach, capability to build frequency, cost angle, innovation etc.”
Devpuria discussed the strategic choices in marketing between taking a tactical approach and building brand salience. When opting for a tactical approach in radio advertising, the focus is on maximizing reach. This strategy aims to quickly disseminate the message to a wide audience, typically for immediate impact such as driving sales. On the other hand, if the goal is to enhance brand saliency, the strategy shifts towards creating more engaging content that encourages interaction and conversation with the audience. Radio's historical interactivity makes it particularly suited for fostering deeper connections with consumers, unlike static mediums such as print or television ads where interaction is limited.
Further in the conversation, Vandrevala, shared his views on the effectiveness of radio campaigns. He explained if brands have to spend on radio, it needs to be beyond these reach and impressions.
He said that as marketers, this is a question that often sparks debate with our brand teams. We are challenged to move beyond simply focusing on reach metrics. Success in today's era isn't solely defined by reaching millions; we need to look deeper. In our world, particularly in pharma, effectiveness in radio advertising should be measured by tangible outcomes. “Radio has potential to enhance in these areas, where we can directly attribute success to meaningful engagement,” he said.
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