By: Alyssa Hamm
Streaming audio saw a major increase in usage over the past year—fueled in no small part by the impacts of the pandemic. More than 70% of the U.S. population tuned into digital audio last year (eMarketer). According to Pandora, time of day listening started to shift, and people were listening to streaming more often. Weekday usage started to mimic weekend patterns of the past. People were listening to more chill, mood-oriented music, and there was a large spike in children’s music as parents scrambled to entertain their kids. Podcasts have also seen a major spike in popularity since the start of the pandemic: according to eMarketer, over a third of the U.S. population will listen to a podcast monthly. As this space has continued to grow, so too has the opportunity for advertising. Sponsorships and live reads are still a large part of the space, but programmatic advertising has also grown substantially, with online streaming services the most sought-after inventory. Purchasing programmatic audio inventory has also become much more targetable. Demographic, location, interest/intent, and genre targeting options are all available—including many options in the PMP space using first-party data—making audio a perfect addition to any digital strategy. Creative is key piece to a successful audio campaign. According to Nielsen, 79% of audio consumption takes place while people are engaged in activities where visual media cannot reach the user, so it is very important that the audio ad itself is informative, catchy, and memorable. Because it is an environment where the listener is actively listening to the content, this format has a unique ability to resonate with listeners. Audio campaigns typically see 24% higher recall, 2X lift in purchase intent, and 44% lift in favorability when compare with its display counterparts (Edison, Magna & IPG Media Lab, Nielsen).
Using Basis, you can create a comprehensive audio plan including inventory from the open marketplace as well as through private deals. Below is a quick outline of the private deals available to you through Basis:
- Spotify: 1st Party Demographic Data, Genre, and Language Targeting Options
- Triton: Podcasts, Music, Sports and Spanish Deals Available.
- TargetSpot: Cannabis, Political, and Podcast Deals Available
- TuneIn: Cannabis Deals Available
- Pandora: Custom PMPs available via RFP including Streaming, and Podcast inventory.
- Audiology: Streaming Services, Podcasts, and Radio (targeted custom PMPs available via RFP)
Best practice would be to include a variety of tactics and PMPs on the plan to ensure scale and performance.
You can find additional information in our Audio PMP One Sheet as well as information on Pandora and Audiology RFP opportunities through AdsWizz.
Audio can be a very powerful branding tool. Ensure you are setting expectations with your advertiser about the reporting metrics you will share throughout the campaign. Measuring everything from quartile and completion rate to cost per completed view will ensure that the advertiser is maximizing performance from their investment.