The average car on the road in the U.S. is 12.6 years old, so it is little wonder that the car parts and aftermarket businesses are booming. Katz Media Group says nearly one of every ten dollars spent advertising those brands goes to radio, and in a new analysis it is making the case for why that already healthy share could be even higher.
Katz conducted brand lift studies during the third quarter for two advertisers in the auto aftermarket category. One is a car parts retailer and the other is an engine product. It says the studies found that both advertisers’ investments in radio successfully “revved up” consumer interest in each of the brands. Purchase intent for the car parts retailer jumped by a third (+32%) and by 8% for the engine product, based on a survey of 800 adults who heard the radio commercials.
“Consumers proved to be open and responsive to radio advertising, helping contribute to the brand lift,” says Katz. “Eight in ten believe it is smart for auto-related brands to use radio advertising to inform them about products and offerings. And 61% believe that radio could encourage them to buy auto products or shop at an auto parts retailer in the future.”
Katz says the two brand lift studies offer fresh evidence that radio should be a driving part of an auto aftermarket brand marketing strategy. That is because the data shows consumers were open to auto-related brands using radio ads to inform them, and they are more likely to take action after hearing them.
“The radio campaigns successfully impacted target consumers, leading to greater purchase intent in the near and distant future,” Katz Media Group says in a blog post.
Katz said in an update released in August that its analysis shows radio delivers more consumers in the automotive aftermarket category than any other media, reaching 91% of potential customers. Katz also noted that AM/FM radio (70%) dominates all other audio formats in reach and engagement when it comes to the car. That includes online audio (55%), podcasts (32%), CDs (25%) and SiriusXM (22%).
Growing broadcast radio’s share even a small amount could provide millions of dollars in additional revenue for the industry. Katz says the automotive aftermarket category spent more than $746 million last year, with 9% of that money — $67.1 million — going to radio.
Download the full Katz study on the automotive aftermarket HERE.
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