Is Audio Advertising Back? Sounds About Right!
In watching the early advertising trends of 2024, one thing is becoming louder and louder if you're listening: Audio ads are back and boomin'!
Traditional radio has seen its market share shrink over the past years, dealing with the same transition many traditional media forms are trying to navigate. In the vacuum that shift is causing, podcasts and streaming audio services are seeing increased demand, and with that is opportunity for advertisers to ride the wave.
So far in 2024, digital audio advertising is experiencing significant growth, with some experts predicting it to reach over $11 billion by the end of the year. Spotify, iHeartRadio, Pandora, and dozens of other audio platforms are seeing increased listenership, and businesses of all sizes are taking advantage.
Why are advertisers rushing to pivot to audio? There's several advantages:
- Highly Engaged Listeners: Digital audio is being consumed just like other streaming content. Users are going straight to the content they're most-interested in, promising a highly-engaged audience for your ad to land in front of.
- Target Specific Demographics: Advertisers can use data to target specific households and audiences, cutting out the wasted ad spend that often happens with traditional radio.
- Cost-Effective: While audio advertising is seeing a boom so far this year, it's still relatively inexpensive compared to television.
- Multitasking Friendly: People often listen to audio content while doing other activities, like commuting, exercising, or doing chores. Ads on other mediums do not reach people while they're in the middle of these kinds of tasks.
- Measurable Results: Campaigns like SilverBack's Data Fusion can track the results from your audio campaigns and measure key metrics like impressions, clicks, and conversions.
- Reaching Cord-Cutters: As the landscape of media consumption continues to diversify, streaming audio is another way to reach consumers that are no longer available through traditional media.
Getting on streaming audio can be easy! Talk to your advertising experts at SilverBack Advertising today and learn more about how it can help your business!!