Studies: AM/FM Radio Ideal for Tax Preparation Services
| RADIO ONLINE | Monday, July 18, 2022 |
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 Cumulus Media |
Two new studies measuring national AM/FM radio campaigns for the recently completed 2022 tax season reveal broadcast radio is the ideal media platform for tax preparation services and generates a significant impact. Compared to heavy TV viewers, heavy AM/FM radio listeners are more likely to use tax preparation services (onsite or online) and spend more than TV viewers. This week's Cumulus Media | Westwood One Audio Active Group blog outlines the key findings.
- Since AM/FM radio listeners are bigger category users and spend more, AM/FM radio advertising can build stronger awareness, consideration, and sales effect.
- TurboTax and H&R Block continue to be the dominant players but here come the challengers. Jackson Hewitt, TaxAct, Credit Karma, and Liberty Tax have grown brand equity (awareness, consideration, and ad recall).
- Audio works for tax preparation services brands. Compared to heavy TV viewers, heavy audio listeners have higher brand familiarity, consideration, ad recall, and are more likely to pay $101+ for tax preparation services.
- AM/FM radio drove an astonishing +48% site traffic lift for tax preparation services as measured by LeadsRx.
- Search and site traffic by programming format mirrored media weight. The composition of search and site traffic by AM/FM radio programming format was generally similar to format media allocations. Both Top 40 and News/Talk delivered a greater share of site traffic lift versus their share of impressions.
