Future of Media, an event held in London, UK, which featured AdsWizz branding and sponsorship throughout the venue, brought together industry leaders, visionaries, and trailblazers to shed light on the future of the industry, foster partnerships, and provide actionable insights for thriving in this transformative landscape, playing a pivotal role in shaping the next chapter of the media industry.
Our very own Rowan Hamill, Director of Business Development for the UK and IE, gave a presentation about the growth of digital audio in listening habits and advertising spending by conducting a comprehensive analysis, comparing digital audio with other platforms in data and measurement. In the context of Media 3.0, focusing on relevance, interactivity, and privacy, Rowan also emphasized how digital audio provided marketers with advanced technology for enhanced targeting and real-time interaction measurement via innovative ad formats.
Check out the breakdown of Rowan’s presentation below!
Digital Audio in a Media 3.0 World – A Future of Data, Targeting, Measurement, and Innovation
Meeting Audiences Where They Are
Rowan kicked things off by summarizing how modern technology has empowered advertisers to connect with their audiences in new and innovative ways. With tools like Comscore’s Brand Suitability, podcast contextual targeting, dynamic creative versioning, motion-activated ads, second-screen retargeting, automated host-read ads, and attribution pixels, advertisers can tailor their messages to meet audiences precisely where they are in their daily routines.
She then highlighted the effectiveness of audio advertising. Engaging audiences with high Long-Term Recall, better recall than social media, and higher intent to purchase, audio advertising offers a unique way to connect with consumers. Additionally, programmatic advertising in the audio space provides enhanced targeting, brand safety, and efficient buys, reducing waste.
Audio Consumption vs. Investment
Despite the increasing popularity of audio content, Rowan pointed out a significant discrepancy. While audio consumption is rising, audio advertising investment needs to catch up. She noted a 32% increase in podcast advertising investment year-over-year. However, she emphasized that there’s still tremendous untapped potential, with audio advertising accounting for only a fraction of the UK’s total digital advertising spend in 2022.
Dispelling Audio Advertising Myths
Rowan debunked several common myths about audio advertising:
- Myth 1: Audio is Only for Brand Awareness Campaigns – Audio actually drives results at every marketing funnel stage. Through a case study involving Mustard Insurance’s use of Dynamic Creative Optimization (DCO), she showcased how personalized ads could affect brand awareness, favorability, website traffic, and purchase intent.
- Myth 2: You Can’t Track Audio Campaigns – Rowan countered the myth by presenting the Mazda case study, which utilized Audio Pixel and Second Screen Retargeting to drive brand awareness, recall, and consumer purchasing decisions.
- Myth 3: Podcasts Aren’t Brand-Safe – Modern podcast contextual targeting solutions, in fact, protect against invalid traffic and fraudulent opportunities. Solutions like Invalid Traffic (IVT) Filtering from HUMAN and Brand Suitability from Comscore ensure brand safety in the podcast space.
- Myth 4: Podcasts Can’t Scale – Rowan dispelled this myth by highlighting the existence of premium podcast marketplaces in top European regions. Advertisers can now target and forecast using various podcast content verticals, making scalability a reality.