Saturday, November 24, 2007

Public Radio: Happy Medium for Reaching Wealth?

Once upon a time I wrote occasional trust and estate-planning commercials that ran on radio stations offering classical music. Most of those for-profit broadcasters have perished. Some of the survivors are shadows of their former selves. (When WCRB in Boston was bought up recently, the new ownership changed the format from classical to classical lite; i.e., no more symphonies.)

Serious music (classical and jazz) hasn't vanished from the airwaves, however. It's moved to public radio, along with most serious public-affairs programing. As a result, non-profit radio attracts educated, affluent listeners – prime prospects for investment and financial-planning services.

Most all the major financial-services companies seem to sponsor something on NPR occasionally. BofA Wealth Management pops up on Morning Edition. But it's smaller banks and trust companies that may benefit most from public radio sponsorships. At relatively modest cost they can introduce their brand to considerable number of potential clients.

Here in New Hampshire, I hear Charter Trust Company and Laconia Savings Bank mentioned on NHPR.

What about you marketers in other parts of the country? Do you find public radio a useful, cost-efficient way to keep your brand name in the public ear?

1 comment:

Jim Gust said...

Jim, perhaps you remember John Simboli, who was the video director for Winning Trust and A Matter of Trust? He and his wife Julia started a creative agency, Wyant Simboli Group. I often hear their ads on Connecticut NPR as I commute home.

BTW, public radio is hardly the only place for serious public affairs programming. Don Imus provided that, along with his special brand of humor, before he was hounded off of the airwaves by the PC Police.