From the very first days of the wireless, audio has always been a prime channel for advertising – and now, it's never been a more effective medium to captivate the consumer. Read on as we explore how audio advertising is booming for businesses of every stature.
Performance marketing agency Ad Results Media is a specialist in auditory advertising, and they recently revealed that podcasts have overtaken radio and digital as their fastest-growing medium – amassing an incredible 35% of its advertising market share. Podcasts are growing in popularity for both emerging start-ups and big names alike, with global enterprises like Starbucks, Budweiser, and Netflix increasing their ad spend on the popular audio programmes. Ad Results Media CEO Marshall Williams stated that "podcasting allows larger brands to reach into an incredibly desirable audience that continues to capture through other channels", highlighting just how effective audio content can be when it's targeted at the more engaged, educated and younger audience that podcasts attract.
The figures surrounding brand podcast adoption speak for themselves, but another significant development also indicates the growth of audio advertising. In February, US marketing powerhouse Ad Age announced their Agency A-List for 2018, and named their In-House Agency of the Year as none other than Spotify. The title itself is not only impressive, but the fact they require their very own in-house agency illustrates just how prolific their advertising is – not just for an audio service, but through audio as well. In addition to their ads that appear in-between songs, they cleverly market carefully-curated playlists to the right audiences. One example is playlist turned phenomenon RapCaviar – a renowned success that's shaped modern-day hip-hop as we know it. To further promote this feature, the team launched RapCaviar Pantheon – an exhibit at the Brooklyn Museum – to immortalise breakthrough artists through Greco-Roman-style sculptures; and held a six-city RapCaviar concert tour 'I'm With the Banned' to support musicians caught up in President Trump's travel restrictions. This creativity marks Spotify out as not only one of the most influential names in music, but in advertising too.
Clearly, now's the prime time for companies to embrace this audio boom, and there's audio branding opportunities as far as the ear can listen. Multiple channels offer scope for audio, whether it be company videos, events or TV ads, and having a Brand-Sound-Track™ composed exclusive to your brand playing across all these channels creates real synergy in sound that an audience can recognise. And by introducing this track to the on-hold platform – along with targeted, creatively scripted messages, you'll create the prime opportunity to reach a captive audience that already has a proven interest in your brand.
Just like Starbucks, Netflix and Budweiser have realised, the lucrativeness of audio advertising cannot be denied – so turn up the volume on your brand.