Many of you Gen-X and Baby Boomers may think back to the days when you’d listen to the radio for some tunes or to catch the local baseball game. Every once in a while, the broadcast would be interrupted by an ad promoting the local hardware store in your town. From these humble beginnings, audio advertising grew and expanded to become much larger.
The Power of Audio Advertising
The explosive growth of the smartphone paved the way for the increasing popularity of digital radio. An estimated 155 million people listen to Online Radio. In a single quarter, Pandora logs 5.4 billion hours of user listen time. It’s safe to say that the digital audio space is big and will continue to grow. Don’t forget about traditional audio advertising either. You can reach an even more massive scale through the seemingly “old-fashioned” platform with broadcast radio reaching over 90% of nearly every demographic in the U.S.
Moving Forward with Digital Audio
Digital Audio is very different from when you used to listen to music through your Myspace page. Today, many people listen through their phones in many different situations and on a number of different platforms.
One of the reasons audio advertising is so appealing to advertisers is because audio advertising has all the influence and power of video advertising, but audio ads are much cheaper, quicker, and easier to create. Audio ads also hold the benefit of not being skippable and are rarely effected by ad blockers. This allows advertisers to reach and influence users more effectively than most digital advertising offerings.
Similar to display advertising, digital audio advertising can offer one-to-one targeting. This means data can be used to serve advertising to users who you know your content will resonate with. This targeting becomes even more valuable with digital audio since audio advertising has much more valuable content and impressions than display banners will ever have.
New technology and offerings are also allowing for better and more engaging experiences with your audio ad experiences. Pandora allows for advertisers to create and purchase their own branded stations in order to have their message really resonate with their users. Recently, Xapp partnered with Slacker Radio to create voice active interactive ads. We hope to see more platforms embrace this revolutionary tech to create incredibly engaging ads. Check out this example showing how Edelman Financial created an ad with Slacker radio to drive more emails for their newsletter:
Bringing it back with Traditional Radio
With traditional radio ad spending shrinking you might be wondering why I would recommend the older medium. Well, in the last year, traditional radio has had a major digital revolution.
Recently, iHeartRadio set up their entire network of radio stations to be bought programmatically. This means companies no longer have to call up every station and haggle for times and pricing; taking up time and effort that should be put towards the campaigns strategy.
Also, this new network will allow special data collected by iHeartRadio over the years to be used to get incredibly targeted one-to-many advertising. These developments have breathed new life into radio advertising.
Whether digital or traditional, audio advertising is set to grow and be a major benefit to many brands. Want to improve your campaigns with digital audio? Liquid is partnered with the best in digital and traditional audio advertising. We can be your voice in audio advertising.
About Shawn Thomas
Shawn Thomas is a Business Development Specialist at Liquid Interactive. As a Business Development Specialist, Shawn helps to drive the business development process through research, marketing, and innovation.