Back in the day - we’re talking 2001 or 2002 - were you one of the millions who deserted traditional radio programming and instead embraced the new phenomenon of satellite radio? Were you Team Sirius Radio or Team XM Radio?
Regardless of your allegiance, the choice to consume audio content from somewhere other than broadcast radio helped spark the future of streaming audio, a movement that has transformed how audio content is delivered.
What started as listening to audio programming using satellites and radio transmitters has become streaming content over the Internet anytime, anywhere, and virtually any device.
While listeners can still tune into their favorite local radio shows for music, news, or talk radio, the popularity of streaming audio has exploded. How significantly is streaming audio dominating the way we consume audio content? Here are a few interesting statistics:
There are various types of audio advertising, and all differ based on the audience persona and how they will engage with the message. Let’s take a look at the most common types.
Podcasts have grown in popularity year after year for a while. The U.S. podcast audience alone eclipsed 117.8 million in 2021, a 10 percent increase compared to 2020.
But here’s what you should know – 55 percent of people say they’ve bought a product after hearing about it on a podcast. This makes podcasts a powerful advertising platform for marketers wanting to increase their brand awareness.
Another thing to consider is that there are so many podcasts out there. Name a topic and there are probably at least a few podcasts that discuss it. That means you can target niche audiences with your advertising rather than a larger audience who may have no interest in your industry.
Music plays an enormous role in our society. Art and music are essential human functions that stimulate the mind and transform society.
Over half the U.S. population reports listening to music daily. From a global perspective, 18 hours of music is heard weekly across various platforms.
One benefit of streaming platforms such as Spotify and Pandora is that they gather user data that allows brands to insert targeted messaging into users’ playlists. This makes audio ads more targeted and more likely to convert than the one-to-many approach of traditional radio ads.
The rise of smart speaker usage has opened the door to the possibility of voice-activated ads that allow listeners to make purchases hands-free — even while cooking or driving. This takes the potential of an audio ad platform beyond brand awareness and provides the opportunity to convert in real time.
Now that we’ve looked at some hype surrounding audio advertising, the next consideration should be whether it is worth incorporating into your business’s overall marketing plan.
Here are three reasons why programmatic audio advertising can be effective for many companies.
1. Audio advertising is audience-targeted
Audio advertisements allow you to target users based on location, behavior, and demographic. This allows two people in the same area to get different ads, and brands can reach their target more easily.
2. Audio advertising allows data tracking
Programmatic audio ads allow advertisers to collect data on key metrics, like completion rate — whether a user listens to an advertisement to the end or skips past it. The ability to track your audience’s behaviors and engagement with your ad – and post-ad consumption – is invaluable when planning ad campaigns.
3. Audio advertising improves brand recall
According to Nielsen, audio ads have 24 percent more recall compared to display ads, and 61 percent of podcast users were more likely to purchase after hearing audio ads for well-known national brands.
***
These are three reasons you should consider implementing audio advertising in your overall marketing plan. To know for sure, there are plenty of variables to consider, like your target audience, marketing goals, what your competition is doing, and other factors. These considerations, and others, should be analyzed by a professional marketing agency using a Marketing Communications (MARCOM) plan.
An audio-based campaign could be a highly efficient and cost-effective way to spread your message. From increasing brand recognition to targeting larger audiences, there are benefits. If you’re interested in learning whether audio advertising suits your business, contact us to start the conversation.