With the growth of streaming services and podcasts in recent years, audio-based advertising has emerged as a new option for companies trying to connect with the greater public. Find out about the background, advantages and top trends in the world of audio advertising before deciding on the next step for your company.
One of the effects the impact COVID-19 caused on society is the daily commute that many Americans have to get to work every day. The commute on public transportation was an ideal time to enjoy their preferred podcasts or connect to their preferred streaming services.
However the audio streaming business has indeed been resilient, especially in the area of audio advertising. In actual fact, over 70% of people aged 25 to 54 are streaming news, music, and podcasts throughout the month, providing plenty of marketing opportunities for companies.
Music advertising allows companies to incorporate their awareness campaigns and advertisements outside of traditional channels. Adverts can be shown in the background or during streaming music or news broadcasts, as well as podcasts.
The types of Audio Ads
Pre-roll: ads with audio playing prior to a session of streaming.
Mid-roll: Audio ads are played throughout a stream.
Post-roll: Audio ads are played following a video stream.
Music is how most people use media while on the move which is why it's a a excellent opportunity for companies trying to advertise their services.
With the increasing popularity of the streaming industry and its podcasting counterparts, there's plenty possibilities for companies to invest in audio-based advertising, especially as the industry continues to change.
The rise of audio Advertising
Radio advertising on the air was the very first form of audio-based advertising in the early 1900s. As the decade wore on the radio stations started increasing their advertising services in search of ways to make a profit.
, "the first known form of radio-based advertising was in the beginning of 1922 when AT&T began selling broadcasting tolls, in which businesses could finance or underwrite a broadcast in exchange to having their logo advertised on air."
In the ten years following in the golden age radio, nearly 90 percent of American radio stations broadcast commercials and ads.
The last 10 or 15 years have witnessed a change in the field - due to the decline in talk radio broadcasts. more people are investing in podcasts, satellite radio and voice search technology and other options that earn a living from audio ads.
As it is evident that the use of digital audio and advertising has experienced substantial growth, companies regardless of size should think about their options while evaluating the advantages of using audio advertisements.
The benefits of audio advertising
Personalized media listening to audio media is always a private and intimate experience. Since consumers already have the same connection to what they are listening to and the content they're listening to, it is a natural connection that gives them a a greater response to advertisements.
Accessibility: One of the major benefits of audio files that are digital is the ability to listen wherever and anytime. With the numerous devices, users have the option of listening offline. With the many opportunities available companies have the chance to make their ads to stand out.
A variety of formats and genres as previously stated, there are numerous types and genres of audio advertisements are able to target. Companies can develop advertisements that specifically match podcasts or music streaming services and much more.
High-precision targeting: In addition to targeting specific categories businesses can also concentrate on the audience they want to reach. Companies can put their money in advertisements at specific times of the day or at specific stations or in relation to a specific place.
Advantages of audio-based advertising
The absence of images When you are advertising via audio it is apparent that there is no space to showcase or explain a the product or service. Most consumers are visual, and a the absence of visuals could make it difficult to maintain long-term awareness.
Listener attention is limited A lack of listener attention is difficult to monitor the attention of listeners, especially when skip buttons are easily accessible to listeners.
Divergence of audience Affected by the a vast volume of audio-related content on the internet the internet, it is difficult for companies to reach large audiences. The message they send out may not be seen by a very small number of listeners.
Clutter: With the abundance of podcasts, radio, and streaming services the advertising space for audio is very crowded. Finding a way to enter the market is more straightforward than it sounds.
With all these advantages and drawbacks with all of these advantages and disadvantages, it is essential for companies to keep track of the most popular trends in the field of audio advertising.
3 Trends in Audio Advertising for businesses
Interactive Audio Advertising
Synchronized Audio Adverts
Interactive Audio Advertising
One of the main reasons for the rise in audio-based advertising is the interactivity element.
Thanks to smart speakers, as well as other technologies that enable voice, companies can now entice their customers to react to advertisements speaking to them.
Users are urged to act right away.
Engaging ads also permit businesses to track more precisely the conversions and evaluate the efficacy of their advertisements. What percentage of users actually used the coupon code in exchange for a brand new subscription to a teabox? Your company can track this by analyzing how many people responded to the advert.
Consider ways that your audio marketing campaign can be more effective by encouraging interaction with your intended audience.
Cost of advertising In order to make an audio-based interactive advertisement, cost depends on the ad's location and the source of the stream.
1 Podcast Advertising
Podcasts, even though they have a worldwide audience, are community-driven. Because an established relationship is built between a listener and host, the brand can benefit from this.
According to the Podcast Insights website According to Podcast Insights, podcasts have over 2 million active podcasts, and the number is growing each week.
When a podcast host is a fan of a specific product, listeners will be more inclined to purchase the product, particularly when a coupon discount code is included.
Due to the relationship they share with the host or the entire team of podcasters, People who listen to the podcast regularly are more likely to pay attention to advertisements rather than pass them by. The ads are also more likely to match what the intended audience desires.
For instance, a lifestyle podcast is more likely to promote products that appeal to this particular demographic. This is also the case for a human resources show with advertisements that highlight a hiring service.
It is crucial that advertisements are genuine and don't appear out of place to ensure that they do not alienate viewers.
Businesses should begin researching podcasts that will appeal to their market and then reach out to podcasts and buy spots.
Cost of advertising Businesses looking to get into the world of podcasts the cost is $ 18 per 1000 listeners to run a 30-second advertisement.
2. Synchronized Audio Advertising
Like other ads, audio marketing is best when it's a partner. If your audio advertisements are linked to another marketing medium, they can help in bringing the message across while providing a smooth experience.
For instance, an audio advertisement on Spotify or another music streaming platform could be followed by a commercial video on mobile. This interactive video can create more interest in the event and increase brand awareness.