Programmatic audio is finally reaching marketplace maturity and it is high time to pace accordingly.
Just as the TV stations had done before them, Radio stations are embracing the digital revolution. This resulting disruption is being caused by greater number of consumers accessing radio via connected devices (smart phones) and more and more people listening to podcast and streaming services rather than linear radio.
According to GroupM, radio stations that embrace the digital wave and mobilise their content production teams to adapt their offering, will be the ones that prevail.
Consumer demand is changing, so how we use audio advertising must change too.
For marketers looking to get in on the action, digital audio offers multi-channel opportunities. People consume digital audio content on desktop, on mobile, in their cars, and on their televisions. Digital audio accompanies listeners throughout their entire days: while they’re riding public transport, working, cleaning their homes, or unwinding.
Sarah Scherer, media product manager at Goodway Group, sums it up simply, “More money will flow into programmatic audio in the coming years as advertisers recognize the cost efficiencies and optimization benefits compared to linear radio.”
With near limitless opportunities to target your audience and expand reach, there has never been a better time to take advantage of the power of audio.
According to eMarketer, the U.S. users devote nearly 3.6 hours to a mobile device each day, and Audio takes up the biggest chunk of mobile usage at 52 minutes.
Traditional Audio advertising is at a crossroads and it must evolve its offering and diversify its revenue streams if it is to survive as a mainstay on media plans. This can be done by leveraging the many benefits of Digital.
Compared to other ad formats, audio has been slow to catch on in the past, but rising adoption rates among voice-activated speakers and audio subscription services have marketers eager to apply it to 2019’s strategy. Today, audio isn’t 100% synonymous with streaming music – people are sharing celebrity-curated playlists, downloading branded podcasts, and getting daily news briefs from their digital assistants.
This means a variety of formats and niche audiences for advertisers in 2019!
These new formats should stem from podcast to streaming platforms for the moment, but with the ‘internet of things’ (IoT) on the horizon, the possibilities for audio advertisers are endless, via platforms like amazons Echo, Google Cars/Home and Siri.
For marketers seeking to optimize their digital audio advertising campaigns, the data provided by various apps streamers use will prove invaluable. Armed with information on everything from musical preferences to location, these apps can help marketers tailor their efforts to ensure that their advertising reaches relevant audiences with maximum impact. Whether it’s offering a user a specific fashion deal based on their musical affinities or promoting concert tickets, streaming apps open a world of possibilities for advertisers.
Based on Martech Series, advances in digital audio adtech and sustained growth in listenership mean that the digital audio market will be integral to successful marketing campaigns for years to come. To convert loyal listeners to loyal consumers, marketers should prepare to harness the wealth of user data digital audio services provide, directing listeners to relevant offerings.
Traditional radio may not be what it once was — but thanks to the abundance of data available in the digital age, digital audio can help advertisers elevate their campaigns to new levels. That should be music to every marketer’s ears.