An understandable trend
Believe it or not, one of the major media trends in 2021 is "free-screen media", or the obsolescence of the need to be glued to your screen.
Because of this, audio has received an unexpected boost during this pandemic. Even video giant YouTube just announced that audio-only advertising would become an option for marketers to target people who use the site to listen, but not watch, content. For 2022, we already expect a significant increase in audio advertising as brands and platforms realize its true power and value.
Below, we've provided a guide to understanding the different channels of audio advertising, the benefits of incorporating this ad format into your strategy, and how you can start using it. Let's take a closer look at this trend!
As advertisers, you need to reach your audience where they are and traditional ads are no longer the only option.
The podcast is reborn...17 years later
Whether it's Spotify, Youtube Music, Apple Music, Soundcloud, Amazon Music or Pandora, everyone has found their favorite music and podcast streaming service. While preferences differ from consumer to consumer, there is one thing all of these choices have in common: streaming audio is a big favorite. In the first half of 2018, about 30 million people in Europe paid for Spotify's service compared to 62 million consumers by the end of 2020, which is double the number. Add to that 59 million people using ad-supported versions of the platform, and the proof is in the pudding: music and podcast streaming dominates the audio industry and is not about to leave the stage.
That said, it's worth noting that Spotify has paid hundreds of millions of dollars to build its podcast business, proving that consumers want to listen to more than just music. Also, the fact that Spotify is starting to insert ads into the shows means that they are important, both for revenue and retention.
The growing interest in this medium is also reflected in the global number of podcast listeners, which reached a new peak in 2020 with 485 million consumers worldwide. While this number already reflects the expansion of the podcast market, it is estimated that it will further increase to over 800 million users by 2025.
In Switzerland, there are at least 1500 local podcasts, of which approximately 500 were created in 2020.
Are you interested?
Want to produce your own audio commercial but don't know how to go about it?
Benefits of podcasts
- + of Trust - Podcast listeners often trust the podcast host and their recommendations.
- + Commitment - Beyond its ratings, the podcast generates enormous engagement. This makes it a valuable medium for advertisers because of its active listeners.
- + Conversion - Due to high user engagement and trust, studies show that, compared to other media, advertising on podcasts drives more purchases.
In addition, it is possible to reach niche audiences in highly relevant contexts, and there are a large number of niche podcasts to choose from, ranging from entertainment, beauty and motherhood to business, entrepreneurship, commerce and even various industry podcasts.
For example, podcasts can give B2B advertisers the opportunity to capture the attention of decision makers in a context where they are actually willing to listen.
However, one of the main challenges of podcasts is that it is difficult to measure the impact and return on investment, much like the early days of influencer marketing.
The podcast as branded content
Brands are no strangers to podcasts. Often, the involvement is limited to the sponsorship of the podcast by the brand, so you will hear one or more advertisements of it during the show. But they are now also starting to produce their own podcasts. These allow for longer-form content that can bring consumers closer to brands.
And that's something retail giant Sephora understood. When it launched a line of lipsticks under the Sephora Collection brand, called #Lipstories (the hashtag is part of the brand name), it was accompanied by a multi-channel campaign to promote the line. One part of that campaign is a new podcast of the same name. The #LIPSTORIES podcast tells real "real life stories" of "women founders, creators and thought leaders". Already in its debut, with 6 episodes of about 20 minutes, #LIPSTORIES had already received 5 stars on iTunes
Let's not forget the radio!
Radio is another medium that is starting to transform with digitalization, allowing for niche stations and therefore niche advertising opportunities. In Sweden, for example, it's interesting to note that many of the most popular podcasts come from radio stations but are distributed via both a Swedish mobile app and streaming platforms like Spotify. This is a sign that the content of the radio stations is still very relevant, just in a different format. Indeed, more and more people are listening to the radio on the net every weekThis is still less than traditional radio, but traditional radio is down while digital is up. If some people think that radio is dying, we think it depends on its ability to adapt to the digital landscape. In fact, the market
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