In an era where audio advertising continues to evolve, there’s more to the soundscape than ever. Gone are the days of traditional radio ads; today, the audio world is expanding unprecedentedly, transforming the advertising landscape in exciting ways.
A favoured format among many, radio ads have long held a place in our memories. Yet, the recent advancements in audio have redefined the space and are poised to shape its future.
According to the IAB UK, over 60% of adults in the UK indulge in digital audio weekly – engaged audiences, high-quality content, and immersive ad formats that are increasingly captivating. The IAB UK’s Adspend Report reveals a staggering surge in digital audio ad spending, almost doubling between 2020 and 2022 to £186 million, with podcasts witnessing exponential growth from £33 million in 2020 to £76 million in 2022.
The Audio Appeal
With its intimate engagement, audio has emerged as a direct channel for brands to connect with consumers. Advancements in technology have unlocked previously uncharted territories, enabling precise targeting based on factors like location and even weather conditions. It’s now addressable in ways never imagined before.
Technological Prowess
The driving force behind this transformation? Technology. Smart speakers usher in creative possibilities that resonate further down the buyer’s journey. For instance, Tesco’s Christmas campaign leveraged smart speakers to engage customers, resulting in an astonishing 28% requesting reminders or links, a resounding success compared to the 15-20% benchmark. In total, 2,300 reminders were sent (source: Campaign).
Expanding Inventory
Audio inventory has diversified with the proliferation of streaming and podcasting, encompassing many radio stations, streaming services, and podcasts. This expansive inventory caters to brands in ways mainstream media might miss, offering diverse and inclusive touchpoints for effective brand communication.
Audio Beyond Silos
Gone are the days of audio existing in isolation. Cross-channel buying is the new reality. Brands are now exploring synergies between audio and other media like digital out-of-home or video, with measurable results and informed decision-making taking the forefront.
Creative Frontiers
In the realm of digital audio, creativity knows no bounds. With a 100% share of voice because of an audio one-to-one environment, it has a 100% share of voice compared with a display where multiple ads can be on a page and dynamic targeting capabilities, audio ads can push the boundaries of creativity by adjusting treatments based on location or even local dialects, fostering inclusivity and resonating better with audiences.
Future Prospects
Confidence in digital audio continues to surge, driving increased investment opportunities. The potential for sophisticated targeting and seamless integration with other channels will redefine the boundaries further. The diverse and inclusive supply amplifies the case for audio’s compelling future.
The ever-evolving world of digital audio advertising is beckoning. With groundbreaking advancements and a horizon brimming with opportunities, it’s time to amplify your brand’s presence in sound.
