Keep Your Ears Open to Audio Advertising
If you own a business and are planning a marketing campaign, your first thought is likely how to grab people’s attention by the look and layout of your ads. But what about advertising that is heard—not seen? Advertising via audio has steadily gained a following—and will continue to do so. Listen up.
Listening to ads is lucrative
How much money is being spent on audio advertising? In a report that appeared this past October in eMarketer by Ross Benes, connecting brands to customers through audio continues to earn billions of advertising dollars. Digital audio services will reportedly receive approximately $16.80 billion by the end of the year in ad spending, with two-thirds allotted to terrestrial radio and one-third to digital audio.
Many audio subscribers, many platforms
By the end of this month, audio and streaming provider Spotify is predicted to have nearly 83 million listeners, followed by Pandora at 54 million. (Mr. Benes notes that Amazon’s audio streaming service may outpace Pandora by the end of next year.) Podcasts on every conceivable interest are being recorded on a non-stop basis. What is the reason for this boom in audio?
The interest in audio and its correlation with the pandemic
As many were isolated during most of 2020—and into 2021—on account of the COVID-19 pandemic, there was a surge in the number of people who subscribed to audio streaming platforms. Jason Wulfson, writing for Forbes, claims that the increased interest in audio was among the greatest changes brought on by the pandemic, and that listening in to a streaming platform has now become part of the daily routine for many people. Mr. Wulfson goes on to state that the prime opportunity for audio advertising may well be right now.
So, while the term “a picture is worth a thousand words” is still very true, there is a lot to be said for how far an audio advertising campaign can spread the word about a business—particularly today, as many more people are opting to listen to one or more streaming platforms. If you already promote your brand or business through eye-catching visual means, you might consider audio ads for additional exposure to potential customers. The Content Studio at EGC produces everything from radio spots to podcasts. We can help make what your business has to offer heard, loud and clear.
Contact us to learn more.