Digital advertising is worth over $150 billion in the US. Digital channels are more affordable than traditional ads, but there are more avenues. With the barriers to entry being much lower, even small businesses can get in on the action in the digital space.
The digital landscape continues to evolve, and one of the up-and-coming channels is audio ads. Audio advertising was eclipsed by video, but that may be changing. There’s good reason to consider adding audio to your strategy right now.
The Streaming Boom
The best reason to consider digital audio advertising is the boom in streaming. Streaming services like Spotify and Pandora have taken off, especially as more people work from home. These people are no longer listening to the radio in their car on the drive to work.
Instead, they’re turning on Spotify and streaming their favorite tunes all day long.
Podcasts are also starting to come into their own. More people are downloading and listening to podcasts than ever before.
Almost half of American adults stream audio on their smartphone every week. Almost 25 percent listen to podcasts on a weekly basis.
The net result of this is that there are more available ears than ever.
A Cost-Efficient Option
Another reason to consider audio advertising for your strategy is the fact they’re cost-effective. Think about the price of a radio spot, then compare the cost of a digital audio ad.
Audio ads compare favorably to other types of digital advertising as well. In fact, there’s been an oversupply of audio spaces, which means you can pick some slots up for low prices.
There’s more competition in other digital ad spaces, which leads to higher bidding prices. As interest in audio picks up, it’s likely prices will rise. For now, though, it’s an affordable option for almost any business.
Programmatic audio advertising makes it even easier to win the right bids. Programmatic advertising uses AI technology to direct your ad to the right audiences. The AI “learns” and will help you pick better placements and spend your budget wisely.
Supplementing Video
Audio ads can supplement a video advertising strategy. Many streaming channels, like Spotify, support both audio-only and video ads. You can buy both types of spots on the same channel.
Audio reaches where video can’t. Someone who is working and listening to music isn’t going to watch the video ad in their Facebook feed. They might listen to it, but they’re not looking at the visuals.
Audio also reaches people who are doing other tasks, such as jogging or cycling. They’re busy watching where they’re going, so they’re not stopping to watch your video.
If you’re already producing video, though, you already have the ability to produce audio ads as well. You may need to adjust your video to support an audio option, but you may be able to pull the audio from the video itself.
If you do need to make a new ad, it’s easy to do with the equipment you already have for making video ads. It can also be a bit faster and less expensive, since you don’t have to invest in visuals for the audio ad.
You don’t need to create audio video advertising on your own, though. A PPC specialist will be able to help you decide on a strategy for both audio and video ads. They can help you manage your campaigns and lend their expertise in creating ads.
Audio Ads Net High Engagement
Besides being cost-effective, audio ads are also more effective than typical display ads. They tend to yield more engagement, which gives them a higher ROI than some of the other types of digital advertising you can buy.
Some studies suggest people have better recall for audio ads than they do for other types of PPC ads. This makes sense, as video and audio information is often more easily processed.
The ability to target your ads may also play into high conversion rates. Many podcast listeners say they’ve bought something after hearing an ad for a product. If you want effectiveness, then think about audio marketing.
Better Targeting for Local Businesses
How does targeting improve the results of audio marketing for your business? In effect, it lets you reach more people who are likely to be interested in your product or service.
Most digital ads offer better targeting than traditional media. Audio ads are particularly adept at segmenting audiences.
Podcasts may be about niche interest areas, which makes it easier to decide if your product or service is a fit. If it is, you’ll likely find a receptive audience for your product.
Geotargeting is also easy with streaming services like Spotify. These services need to ensure they have the rights to broadcast music to users in certain locations, so they have specific location data. If you’re advertising a local business, you could get your ad to the ears of a listener who just happens to run by your shop.
This, in turn, leads to much better conversion rates and performance.
Easy to Track Results
Finally, digital audio ads are easy to measure and track. This gives you much more data about how successful your efforts are. With the right information in hand, you’ll be able to tweak the performance of your campaigns with ease.
This information can also help you when you design future campaigns. The expertise of a PPC specialist can also be useful here. They can interpret the results and create better campaigns as you grow your business.
Audio is Sound Advice
As you can see, there are plenty of reasons you should add audio ads on podcasts and streaming services to your 2020 strategy right now. They’re effective in many different ways. They can also give your business the boost you need without breaking the bank.
Looking for more tips on creating a successful business on a shoestring budget? You’re in the right place. From marketing tips to investing in the right technology, our helpful how-to guides will ensure you have the right advice every step of the way.
