When the housing market is in a slump, it's a good time to look at the stats on rentals, because bad news for one generally means good news for another. After all, if potential homebuyers are trying to hang onto their cash (or down payment), it makes perfects sense to live in someone else's property until things start looking up.
For this reason, we would like to recommend that apartment complexes and realtors begin looking at Christian radio as a viable advertising option in order to capitalize on this new trend. The following statistics were made available by Simmons Market Research Bureau (2010), and they give us an interesting look at the prospects of picking up new customers by fishing in the Christian radio pool.
Christian radio, first of all, is not actually a format, but rather five sub-formats which vary considerably in their programming. Among these, Contemporary Christian Music (CCM) stations stand out as being the most likely to deliver pre-qualified renters. According to Simmons, CCM listeners are 6% more likely than adults in general to rent a house. And who wouldn't want 6% more business?
But the most compelling statistics regards prospective apartment tenants. Simmons reports that Christian radio listeners are 66% more likely than average adults to consult the yellow pages when searching for available apartments. Now, let's stop and think about what this means. It suggests that Christian radio listeners are 66% more likely to be in the market to rent apartments than people in general.
But that's not all. Christian radio ranks number-three among all radio formats for playing to people who are searching for an apartment, just behind Urban Contemporary and Classical Radio (seemingly strange bedfellows).
How do frequent newspaper readers compare against Christian radio listeners? Rather poorly, we should point out. According to Simmons, Christian radio listeners are three times more likely to be in the market to rent an apartment (if yellow page searches are any indication). Moreover, newspaper readers are 48% less likely than people in general to be in the market to search for an apartment.
The most important thing to consider when purchasing advertising is not how many potential renters you could reach, but about how many real renters you are reaching. Nowadays, too many landlords are throwing their dollars to the wind. Here is our advice: if you want to target the highest concentration of actual prospects, then you should take a good look at Christian radio. It all comes down to this one question - do you want to reach potential customers, or do you want to promote your property to an audience of real customers? According to Simmons statistics, Christian radio listeners are more likely to become your tenants than almost any other media group that you can isolate.