Wouldn’t you like to have the ability to have your brand’s story told to millions of listeners? Major music platforms like Spotify and Pandora have millions of listeners streaming music every minute of the day. The opportunity to have your businesses’ story told in between song selection is going to be the forefront of your marketing goals.
Daniel Newman, expert in digital transformation, principal analyst of Futurum Research, CEO of Broadsuite Media and writer for Forbes Magazine, recently published an article on January 22, 2020 titled, “Where Does Audio Fit In The Future Of Marketing?” The fact of the matter is, ‘Who Knows?’ Newman seems to believe that it is a bright future as long as audio marketers are selective as to where they place their funding and how they approach it.
Leading audio companies, like Audiohook, that have worked directly with audio marketing believe that the future of audio does not lie with radio stations as it has rightfully done so for the past few decades, but rather major music platforms like Pandora and Spotify because of the significant increase in digital subscribers. If you ask any salesman what the best technique is to sell any product, they’ll say that ultimately it comes down to the ‘power in numbers’.
The feud between sales reps and marketers will be a never-ending one, though the goal between the two will always coincide, ‘How do I make more money for my company?’ Putting the word out there for your business is not difficult, how you tell the story of your business is. Being able to sell your brand from a marketer’s perspective is best when it’s told in a brief, informative message that leads potential customers to feeling the urgency to browse your store by displaying a direct connection to their needs.
The human auditory senses are viscerally responsive. Meaning, we naturally tend to tie what we hear to our emotional well-being. In marketing, it only makes sense to create a trigger for your audience that allows for an emotional attachment to your product. What better way to practice this than in the form of an audio message directly in the ear of a targeted listener?
Audio marketing is very much a lively form of communication and strategic marketing. This article has 3 reasons why funding should be poured directly into telling your brand’s story through the accessibility of digitized accessories.
All Our Time Is Being Spent Listening To Music
Imagine you’re in your car. You’re driving to work and you get cut off by some guy in a flashy cherry red convertible; road rage is a sincere aspect of our lives. What song are you listening to? Though this may be a somewhat difficult question, the first thing you did was try to fill your brain with all the songs you cognitively have stored that you, at one point in your life, associated with feelings of anger, discontentment or general negativity.
Now imagine you are out at dinner with your significant other eating at your favorite restaurant with your favorite glass of wine and all responsibility is comfortably set aside for a moment. What song comes to mind then?
Whatever situation you may be in, there is a soundtrack stored in your head. The reason being, in a technological generation such as ours, music is playing almost anywhere you imagine people being. This has been caused by Hollywood, commercials, radio and simplistically, interest. When you look at these reasons, one aspect ties them all together, and that’s marketing.
Whether it be for a product that a big company wants you to buy or a movie scene that captures your attention, every brand knows there needs to be audio attached to leave a longer lasting notion of that ‘product’.
Whether you’re the type of person who plays Spotify in their headphones while you work at your desk or you only connect your music to your car on your way to the gym, we are deliberately choosing music as a means to enjoy our inbetween time a little more than sitting in silence.
Set yourself in the perspective of a business person for one second. That visualization is focused toward a goal-driven, growth mindset. How do you grow your business? As loaded of a question that may be, it’s as simple as allowing your business's voice to be heard by as many consumers as possible.
A recent research study held by IRAA, states that up to 80% of people living in the United States are now streaming music, and on average 4 hours per day. To put that number into perspective, that’s only 3% less than the number of legal aged adults that are driving.
A major question is frequently asked in a business, and that’s, “How do we target our audience?” As previously stated in this article, ‘power in numbers’ is ultimately how you gain the attention you need. The numbers are in the consumers listening to music. This is why radio ads have been crucial for many businesses like jewelers, home improvement, insurance agencies, dental offices and many more niche’s in the past decade.
As I like to call these major music platforms the ‘new radio’, for the majority of consumers that are now considered to be millennials or generation Z, there is no better platform to be placing your marketing funds than digital audio.
Audio Is a Means for Expression
We have all seen an ad on Facebook while mindlessly scrolling through the feed. Though these ads have proven to be beneficial for a business, they seem too plain. How are you supposed to inform your consumers about your business with a small picture and a few words while the majority of them don’t take the time to read it?
When I take my business hat off, I often find myself spending too much time on social media throughout the remainder of my day. Scrolling through Facebook, ads pop up every now and then. Can I look back and tell you what those ads were? The answer is no. It is an almost impossible task to express any aspect of your business in an ad that is never remembered and hardly seen.
Audio, on the other hand, allows for a more compelling tonality you wish to express. It holds emotion, holds the ability to play a tune or song for further attachment to your brand, clearly states your message you want your consumer to hear because they have already made the conscious decision to be listening and allows for the proper expression of your company’s brand.
The incredible engineering that has gone into software design and general use of technology, has enabled marketers to be able to use their ads to target consumers much more efficiently. Facebook ads are a prime example of targeted advertising. Software is increasingly complex and incredible. It can track where you spend time on websites, what you’re searching for and other links you have clicked on. Facebook can then pull all that information and only show you ads that coincide with your search criteria.
Radio ads have been very successful to spread the word to as many ears as possible, while consumers simply drive to work or listen to as they garden. They have the ability to be heard by people inside of a certain demographic in regards to area, but are limited to targeted individuals past that.
Digital audio marketing has the incredible capabilities to connect the two upsides of social media and radio ads. I like to refer to this process of targeting as ‘terrifyingly beautiful’. Not only can digital advertising be heard by an enormous amount of the population, it can target exceedingly specific criterias and be heard by a single mom interested in cars, or a new food truck owner in The Bay area of SF; all while portraying your voice and tonality you wish to show for your business and its brand.
Depending upon the type of business stance you take, a large amount of businesses advertising in any marketing field can be good or bad. A large amount shows that there is success in that field of advertising but shows even larger amounts of competition in order to portray your product. A low amount of advertising directly contrasts, higher risk of achieving success, yet at the same time, even greater possibility of success because there is much less competition.
Facebook ads are one of the most popular forms of advertising a business owner would like to be doing. It’s simple, fairly cost-efficient, and makes sense because social media is where the majority of people tend to flock to on a daily basis. This can cause a sense of group-think. Marketing is about expressing your brand in new and creative ways, yet businesses tend to follow the trends because it’s simple.
4 million businesses advertise using Google ads. A news article on Facebook’s business account shows that over 3 million businesses advertise using their platform. Both methods have proven success, and yet, the competition to actually have your ad shown is enormous and pricing escalates from there if someone decides to click on your ad.
Large companies, like Gieco, have stepped away from the comfort of trendy advertising strategies and have created something new or mastered a different technique, like radio advertising. True, they normally do have the budget to do-so, but would they be as successful as they are if they did not take the marketing risk? Numbers show a profound no.
Audio advertising has all the benefits of both radio and social ads, yet the amount of businesses that utilize this method is significantly lower, at a mere 100,000. Why? It’s because audio is a growing market that just recently has been tapped into its full potential by marketers; and major music platforms like Spotify have allowed for this opportunity to happen. Low-competition in a market with an incredible amount of possibility simply put in financial terms, means more money if you’re willing to invest.
Given the opportunity to create the perfect ad that will be played to a perfectly targeted audience to display your company’s story, wouldn’t you take it?
Managing the marketing side of business is like defusing a bomb, one wrong decision can blow up in your face, but cutting the right wire, or rather funding the right marketing strategy, can save your business and lead to so much more.