Traditional Radio & Pandora
Radio is a very different medium to buy effectively for most advertisers for a variety of reasons.
Over the air, traditional radio still relies on the antiquated ratings system from Arbitron / Nielsen that measures less than 1% of a population and says that is an accurate rating of age/gender/race listenership. To get lifetstyle information such as income, homeownership, auto intenders, household composition and education, it is 100% dependent on surveys with extremely small sample sizes of 1-3% of a population without any verification of factual truth to their survey answers. While there is no other "rating" system than the same one since the 50's that measure 500-1000 people on average, even if your market has millions of people, it's all that is out there.
We recommend and operate on a different approach - surveying your customer database with select filters to learn what their radio habits are as well as consider the format and genre the target demographic watches on air. Often doing this either reveals the radio stations or formats you are best spending time on or if its highly fractured, consider moving to something more precise in targeting such as Pandora.
Pandora has a different approach. It's primarily based on data they have generated from the device holder, behavioral digital history and account information. This allows traditional radio advertisers to have a significantly better opportunity to more precisely target the right listener through Pandora's resources. Ads are not as frequent, typically about every 20 minutes, and banner ads based on the users behavior.