Moneyball: Station Contesting, Part II (Prize Amounts)
• Last week we shared data showing that contesting continues to be a tactic that punches above its weight for swaying listening and listeners. This week we’ll lean into the minutiae of designing contesting for the fall book.
Data from regular radio listeners among the 2,000+ Adults 18-64 in NuVoodoo Ratings Prospects Study 26 shows that inflation has hit interest in contest prizes in a big way. Compared to data from last summer, interest in contest prizes as low as $250 has ballooned 21 points. $500 contest prizes now generate as much interest as $1000 prizes did last year.
Among those most likely to participate in ratings methodologies (labeled “RPS Yes” in the table below), as little as $100 captures the attention of 67% and a $500 prize grabs 81% of them. Over half the ratings likely 18-34s (labeled “RPS 18-34”) are swayed by prizes as small as $50.
Of course, the most active contest players are swayed by offers on other stations. So, while a $100 prize sounds great to lots of listeners, the $1000 prize on a competing station sounds that much better. Though the smaller contest operator may have a card to play against large group-owned stations running collective contests that offer big cash prizes. Year-over-year, the complaint that station contests are rigged has jumped to 40% among regular radio listeners in our sample and nearly 50% among the subset who would be most likely to participate in the ratings.
Smart operators defeat the “never give away the prizes” complaint by doing a great job celebrating their winners on the air, on their apps, and in Social Media. Those who are up against collective contests are able to deflect some of the power of bigger prizes by laying out the very low odds of winning a contest against listeners across the country on the competition. Those stations proudly give the towns and neighborhoods of their winners — making them more relatable to local listeners and reinforcing the better odds of winning their games.
While there are small variations in the demographic profile of different contest mechanisms, the five we explored all performed equivalently across both the total sample of regular radio listeners and the subset most likely to show up in ratings samples (““RPS Yes”). Continuing interest in trivia contests and identifying one-second song clips allow wider latitudes for stations in creating promotions that support their branding.
With the fall book less than two months away, you’re right on time if you’re already planning fall promotions. NuVoodoo’s marketing team can help get the word out to the right people while leaving extra dollars aside to give away to listeners.
If you’re worried about the outcome of the spring book, it’s a perfect time to review research options. NuVoodoo has library tests and tactical perceptual studies starting at $9500. At this point we can easily get the answers you need before the start of the fall book. An email to tellmemore@nuvoodoo.com will get you a quick response. — Leigh Jacobs
