By Suzi Kuban, COO at Next Broadcast Media
There have been notable developments in the attribution technology for podcast and audio advertising that has triggered a surge in the use of the media, particularly among smaller businesses that tend to want detailed ROAS visibility and low-cost solutions.
Attribution paints a bigger picture and highlights the high conversion rates audio inspires in listeners. Access to this data has triggered many new small business advertisers in the UAE to explore audio. Virtuzone, a Dubai-based solutions provider for start-ups, is one such small business that launched its first digital audio campaign with Next Broadcast Media in 2021. Through the attribution tool, the 4-week campaign completed all set targets; outperforming previous display and video-only efforts.
Damian Brennan the Group Head of Marketing at Virtuzone said, "We were excited to test audio because it's unique. The addition of attribution data convinced us because at the end of the day we were after leads and we needed the data to show us if audio could stand up to the task".
Like display, audio attribution tech uses tracking pixels to gather the data. These pixels are essential for accurate attribution because it bridges the natural time and device gap found with podcast and audio ads. Immersed in other activities, listeners aren't poised in front of their screen to click or take immediate action: data shows they can actually be up to a delay of 2-days. Attribution tools astutely track the relevant actions taken by those exposed to an ad.
The Virtuezone's campaign tracking pixel fired double the number of times compared to target expectations; on this Damian says "the results were surprising. As an upper funnel channel, of course, audio is strong - but now we see how it can also push customers down the funnel to conversion. The podcast and audio ads work extremely well for us. Since we started running our campaign with Next Broadcast Media we’ve seen a significant increase in ROI. No surprise that audio has now secured an ongoing place in our media plans.”
Lemya Soltani, Commercial Business Director at Speaking for Next Broadcast Media also added, “The performance we get from audio added campaigns compared to video and display only campaigns is outstanding. Specifically for Virtuezone, we found not a single lead was attributed to a click on a visual display banner. All leads were attributed to the audio ad itself. With this, we see how audio is way more effective with conversion rates.”
How small businesses can create an audio ad strategy that works
Compared to social and display, podcast and audio listeners are more sensitive to brand fatigue. Being bombarded with repetitive messaging from the same brand does the opposite of converting. To effectively deploy digital audio, it was found by Podsights in research this year, that ads aired at a lower frequency is more optimal. The target small businesses should aim for is between 2-5 ad exposures per listener; coupling this with using multiple publishers' brands can drive up conversion numbers even further.
Another high conversion essential is precise, well-considered targeting. Particularly in podcasting, listeners are connected to the show, the host, and the topic. Converting listeners means aligning the content, with the right message, tone, and style. Utilizing contextual targeting with demographic targeting is the best way to match your ad to your customer's interests, moods, and behaviors.
Audio advertising is here to stay
Not long ago listener figures were enough to get innovative large brands to include audio on their media plans. But without accurate attribution data, wider adoption within the SME community was tough. Thankfully as podcast and audio popularity exploded, so too did the ad tech. In 2021 podcast advertising spending was up over 20% YoY (MediaRada). And it's expected to grow even further this year and into the future. With attribution, more growing businesses will be able to quantify the addition of audio to media plans and reap the benefits of this medium.