May 16, 2024

How Harvard Media's Radio Auctions deliver the best ROI for your advertising budget

Getting the best ROI from your advertising budget is a challenge for every business- especially in uncertain economic times. That’s why Harvard Media has introduced a new advertising solution to amplify your brand presence, increase your customer base and enhance your overall growth- at zero cash cost. 

Through our monthly Radio Auctions, your business has the opportunity to exchange products or services for valuable commercial air-time on any of our 13 radio stations. That means you get cost-effective, targeted advertising without financial risk. Already, this innovative strategy is yielding incredible results and resulting in positive feedback from clients. 

But before we get into that, here’s how the Harvard Media Radio Auction works: 

You trade goods and services for equal value in radio ads by participating in our ‘Always On Auctions’. It’s a great way to try out radio while attracting new customers!

Here’s everything you need to know: 

  • Even trade, no transaction.
  • Trading goods and services for equal value in radio ads. We can do products or gift cards/vouchers to provide more flexibility and bidder interest.
  • Each station is between 30-50 dollars per 30 second ad.
  • We have the ability to try out radio ads to support your business goals this year, promote special offers to attract new customers or build brand equity over time.
  • Each auction has different themes, and we do all the work to drive your ideal customers to one place (‘Better You- Health and Beauty’, ‘Better Homes’, ‘Ag Trades and Machines’ etc.) by promoting the auction on all of 13 radio stations, platforms, and additional digital marketing efforts.
  • Business owners attract customers with auction item- they turn into long term loyal customers and new people to spread the word about their experience with your business.

Harvard will handle all aspects of the auction for your product or service on our platform and make sure you receive fair market value for your offering.  

In addition to advertising the auction on all our stations’ websites and social media accounts, our on-air radio hosts will promote it daily to our live listeners. 

As part of our commitment to your protection as the customer, we adhere to all Government of Canada regulations – making sure all gift certificates, gift cards, vouchers and prize letters provided by participating clients comply with relevant expiry dates and include identification numbers for tracking purposes. 

To get the most out of your advertising through Harvard Media Radio Auctions, we recommend following this step-by-step approach: 

  1. Set Clear Goals: Careful planning is the key to success. Determine what you hope to achieve with your campaign and describe your brand awareness visions, your website traffic expectations, and/or sales goals. Setting clear objectives aligned to your business strategy will help you make the most out of the opportunity.
  2. Know Your Budget: The budget must be realistic. Consider the value of the products or service you plan to exchange for commercial airtime as well as any additional funds you’re able to invest into the auction. This will help you ensure a profitable ROI from this opportunity. 
  3. Research Auction Opportunities: Communicate with your Harvard Media representative to learn the demographics and geographic reach of the radio stations available in the auction. Use this information to identify which brand aligns best with your target audience. Also pay attention to placement and duration of the commercial slots available and make sure they fit with your campaign objectives. Look for opportunities that provide high visibility and engagement with your target audience. 
  4. Monitor Auction Progress: Stay actively engaged and monitor bidding activity. Be prepared to adjust your bidding strategy in real-time based on the popularity of the auction. Set bid alerts and reminders to make sure you don’t miss out on key moments and opportunities. 
  5. Be strategic: Go in with a plan. Place your bids based on the value and relevance of each advertising opportunity that syncs with your campaign objectives. You know how this works: Place higher bids on premium slots that offer better visibility and audience reach that targets your demographic. Remember and observe your limits and do not overbid. 
  6. Quality over Quantity: Instead of spreading your bids thinly across multiple opportunities, focus on winning a high-quality auction with the biggest benefit for your business. Invest in fewer, but more strategic advertising slots that closely align with your target audience and campaign goals. 
  7. Evaluate: The auction is over. Your radio ad has been created. It’s running on the right station at the agreed upon time slots. Your advertising campaign is well underway. Now it’s time to closely monitor your commercial’s performance. Track key metrics such as brand awareness and website traffic, but always remember the most important question: Is it resulting in sales conversions? Use this data to refine your bidding strategy for future auctions moving forward.

With those easy-to-follow tips you can craft a bidding strategy for your business that will help ensure you get the most out of this opportunity, just like Nicole Guerequeta, CEO of Local Flooring Group. 

“Our company, Local Flooring Group, has been thriving in the competitive flooring market in Saskatoon. A significant part of our success can be attributed to our partnership with Harvard Media. Their radio advertising solutions have truly elevated our brand presence and widened our reach within our local community.

We wholeheartedly recommend Harvard Media to any business looking to enhance their marketing efforts. Their innovative approach and dedication to delivering results make them a valuable partner for any company seeking to maximize their advertising impact”

To maximize your advertising impact like Nicole did for Local Flooring Group, reach out to us today to leverage the power of radio. Through our Radio Auctions you’ll harness a strong marketing medium that will help your business drive growth, expand your market reach, and effectively connect with your target audience. 

Let Harvard Media’s innovative advertising approach unlock new avenues for success. Contact a Harvard Media representative to discuss your advertising needs today.

Curtis Anderson
Content Strategist

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