Remnant media advertising is about to shine
-by David Alpern
With many pharmaceutical companies announcing major strides toward a COVID-19 vaccine, America’s businesses will soon resume their growth planning …. and remnant media opportunities to buy unsold advertising inventory are aplenty.
COVID-19’s Effect on Advertising
During the pandemic, major media platforms have seen advertising inflow drop 50 to 75%. Radio, for example, has seen many stations implement a 2-minute commercial limit, since frankly there hasn’t been much by the way of radio advertisers during recent months.
The inventory exists on the supply side, but the advertisers on the demand side have been holding back. This means lots of remnant advertising opportunities, which is where Media Partners Worldwide has specialized for nearly 25 years.
What is Remnant?
Remnant media is very affordable, often discounted as much as 70%, and can help revive businesses after the coronavirus pandemic begins to subside. Remnant radio, print or TV is specifically reserved at the last minute and helps clients take advantage of last minute unused inventory in all broadcast dayparts. Buying remnant through an experienced agency that has the relationships and special access to this media is a great way to help millions of small, medium and large businesses will soon be seeking to recover from the devastating market effects of the COVID-19 virus epidemic of 2020.
243 million adults listen to radio each month in the US. This is a huge reachable audience. Remnant radio ads allow a business to experiment; thus saving money on launching a message, product, or service on the radio.
Radio ads stick with the consumer longer than online ads because radio listeners are focused on the broadcast, and a radio ad occupies 100% of the broadcast moment while it is being aired. That full indulgence is why people often find themselves singing a catchy advertiser’s jingle. That reflects the effective recall that radio advertising generates.
Remnant pricing is offered to third-party agencies typically just a couple weeks before the planned air date. An outside ad agency, like Media Partners Worldwide, with both local and national reach, is preferred as these agencies are familiar with the requirements and the needed flexibility of remnant media planning. These agencies know when and how to negotiate for remnant wholesale advertising rates.
Media buying agencies use unique techniques to get low rate deals. As they don’t represent a single advertiser, they don’t pose a constant on-going reduced rate perceived threat of the same advertiser with the same local publisher, radio stations, TV stations or newspapers. It is far more likely a remnant focused agency will procure aggressive remnant advertising rates.
Remnant agencies benefit as they are paid an agency discount (or fee) by media outlets, which is separate from the ad rate. Ad production, script writing, strategy and media schedule planning is an art – and most agencies offer discounts to their paid advertisers for related production and creative services.
During the 2020 COVID-19 coronavirus economic slowdown, agencies have been securing special radio, TV, print and online advertising bargains to help their clients persevere during this crisis, and maintain their fiscal health. The pandemic has starved businesses of cash flow. Their return to spending on advertising will be more voracious for local media buys at remnant rates. The huge advertising discounts that remnant advertising delivers is generally not offered direct to clients, because it would permanently drive down advertising rates to a level that could jeopardize the media channels’ very existence.
Businesses determined to rebound and revive quickly need to get back in the advertising game fast, affordably to reconnect with both regular and prospective customers.
For a while, consumers will be drawn to messaging that reassures the business is sanitary, safe, healthy and alert. References to UV air sanitizers, ozone or ionization, standing hand sanitizer stations, will remain commonplace for quite some time.
Let’s Get Remnant Now
Remnant advertising can revive a business, along with our nation’s economy. Remnant is a way to pull back from the brink and survive what has been a difficult time. Our agency is an active remnant agency and offers free consultation for anyone who is interested in becoming a remnant advertiser. Contact 562-439-3900 and ask for Natalie Hale if you want to know more about starting up a campaign this month using remnant advertising to advance your business’s come back toward profits and growth.