As discussed in Part 1 of this blog series, streaming audio, just like social media, has revolutionized our media consumption and preferences. Preprogrammed content is quickly being replaced by personal choice. While this trend is not new, it is increasing exponentially, as more and more people become familiar with, and take advantage of, all the options they have to personalize their media consumption habits.
Just as consumers are becoming more savvy in their listening habits, marketers are following suit by getting more innovative in reaching their target audiences with messaging and advertising. And because they are taking the hint, the popularity of audio advertising is rising rapidly.
Most audio listening happens via mobile, and the time people spend listening to spoken word audio on mobile devices has almost tripled since 2014. Edison Research found that smartphones significantly outnumbered desktops and laptops as the device used to listen to podcasts.
What that means for companies like yours is that a large consumer audience can be reached virtually anywhere, anytime. If implemented as part of your overall marketing plan, a well-executed audio advertising campaign can significantly increase your company’s visibility and effectively communicate your message.
Currently, audio advertising is being delivered using YouTube, Pandora, Apple Music, Amazon Music, Spotify, TikTok, and other popular online streaming platforms. Smart speaker marketing is also on the rise, with ads being played on smart speakers using Google Assistant, Amazon’s Alexa, and Apple’s Siri.
But that’s just the beginning. In addition to the wide range of digital publishers available for audio advertisers, opportunities for audio ad space within video games and traditionally video-based streaming platforms like YouTube are also on the rise.
For example, in 2022, YouTube made audio ads available worldwide in Google Ads and Display and Video 360. That change now allows users to choose between watching or listening, allowing advertisers to reach wider audiences.
As companies continue to embrace audio advertising, more opportunities will become available. We’re already seeing a broader range of offerings and trends making headway. Here are a few that could apply to your marketing program.
Interactive ads are the next big thing in audio advertising. With the global smart speaker market growing from $6.6 billion to $7.07 billion between 2022 and 2023, more people are adopting them into their homes.
That’s opened the door for the delivery of interactive ads - in which listeners talk back to their smart speakers to make purchases. For advertisers, that’s an instant conversion!
Watch this 1-minute demo of how Amazon is using interactive ads to make sales conversion easy for its customers.
Historically, developers have been cautious when it comes to ads. That’s primarily because of the potential negative impact that visual advertisements could have on the player experience.
Developers weren’t sure if hard-core gamers would tolerate in-game ads.
But would they tolerate audio ads, which are at least less visually disruptive, instead?
Advertising in an audio format allows advertisers to reach gamers without interrupting gameplay. In 2022, there were 3.03 billion video gamers worldwide, so the audience is certainly significant.
Audio ads are most effective in an overall marketing campaign across various mediums. Since most ads don’t drive immediate conversions, savvy advertisers integrate audio into a broader omnichannel strategy. So, for example, an advertiser might choose to deliver an audio ad alongside a connected banner ad to reinforce engagement and encourage clicks.
Some platforms are already leveraging this trend. Spotify audio ads are accompanied by display ads that include the advertiser’s name, a companion banner, and a call-to-action button.
Just because audio advertising is hitting its stride doesn’t mean there isn’t still value in advertising on video streaming platforms like YouTube, Dailymotion, and Vimeo. The global online video platform market drove over 80 percent of total internet traffic in 2022 and is expected to reach a market size of $22 billion by 2028.
That’s good news for advertisers leveraging audio opportunities for video streaming platforms. We noted that YouTube rolled out audio ads to its advertisers in 2022.
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From music streaming and podcasting platforms to traditionally video-based streaming platforms and new trending opportunities, audio ad space is massive. Audio ads are ideal for integration across a diverse range of platforms that are proven to reach engaged, interested audiences.
But is streaming audio advertising right for your business? It doesn’t hurt to gather information and talk to someone with experience, helping other companies tap into the benefits this type of advertising offers.
To learn more about implementing audio advertising into your marketing plan, call or email us to schedule a consultation.