Times change and businesses must evolve with the times. Radio stations know this better than anyone because they used to be the king of the castle, but now they have been taken over by streaming services.
So, you should never say never. However, when it comes to radio competitions, several factors indicate there won’t be any serious rivals anytime soon. What are? Continue reading to find out more information.
The link to different areas of society
There’s no doubt there is a business aspect behind the use of competitions on the radio, but more on that later. Whether it’s to make money or encourage audiences to tune in and listen, stations understand they must engage people effectively.
A regular quiz can do this in many ways, such as introducing light-hearted fun into listeners’ lives. However, it also connects different areas of popular culture to enhance the experience.
Innuendo Bingo on BBC Radio 1 is a prime example because it combined laughter and enjoyment with celebrities.
Casino radio stations also highlight the connection between quizzes and the games they offer as they use the same tactics regarding their welcome offers and radio competitions. When customers take advantage of the bonuses on fruitkings.com, such as receiving a 100% deposit, they are trying to earn rewards without spending money. The same applies to competitions as they are free to enter but often have prizes for the winners.
A competition is synonymous with radio
With few tools to fight against the rise of streaming services, radio stations need to figure out ways to compete to stay in the game.
Rather than frivolously investing in technology, which is wasteful considering the medium, they have doubled-down on quizzes and tournaments.
Firstly, this is because the process is engaging. Yet it’s what radio bosses can glean from the data that’s profitable. ibis world talks about how Australian and New Zealand stations have diversified in an attempt to attract bigger sponsorship deals. They can do this by targeting a defined demographic and appealing to investors who want to market to the same men and women. [Source: Unsplash]
Also, while the concept of a competition can’t be monopolised, it lends itself perfectly to the medium. As a result, it’s a tool radio has that streaming sites don’t, which makes it doubly essential.
The business model works
Some of the sums given away are staggering. For instance, The Mirror reports that a man won £1 million just by entering a radio competition in May 2020. However, he wasn’t the only winner as entrants picked numbers from one to 10, with prizes ranging between £1000 and £1 million.
This has led to publications such as the Balance Everyday offering advice on how to stand out from the crowd and win big.
These examples prove two things. To start with, the resources the competitions provide radio stations are enormous. Secondly, listeners love them.
Therefore, when you consider these three features, it’s hard to see a rival coming out of the woodwork and taking over as the radio’s favourite asset.