Showing posts with label audio. Show all posts
Showing posts with label audio. Show all posts

Oct 24, 2022

Audio Delivers Big Results For Both Consumers and Advertisers

Audio in its many platforms has become a beguiling alternative for both consumers and advertisers compared to television and social media.

For consumers, the idea of “radio” has taken on new meaning. It is no longer an analogue, old timey sound box. Now it offers a range of new platforms that provide a myriad of fascinating content from transportive AM/FM to self-select and recommendation engine content, to podcasts to audio books to information provided by smart speakers.

For marketers, the cost of television advertising defies gravity with increasing prices for inventory despite a shrinking and fragmented audience. CPMs for social media have also risen with diminishing results. In a marketplace riven with rising costs and diminishing returns, advertisers are finding that audio delivers the consumers they want in an immersive environment with cost effective options. Notably, these consumers are much younger than television whose average age is 57 years compared to 49 for radio.

A recent study by iHeart revealed that consumers currently spend about a third (31%) of their media time with audio. But, despite the fact that ad-supported radio drives scale, advertising dollars have yet to match this amount of usage. With radio, the ability to add incremental reach with lower cost should be extremely appealing.

With more data available through various and new platforms as well as the increasing use of machine learning to normalize and structure the data, audio offers a heightened ability to target cross-platform. Audio creative has also taken giant leaps in quality, efficiency and prove-ability compared to video. Currently, audio is as measureable as digital and TV and offers measurement solutions for every KPI and channel. Further, being able to target while knowing that consumer privacy is maintained (unlike in social media) offers an additional comfort level for marketers.

Talent plays a big role in the trust and influence of audio ads. Seventy-seven percent of listeners trust the information they receive from radio personalities which makes radio two times as trusted as social media. When it comes to overall impact, radio proves to be the most influential at the point of purchase compared to other media, with AM/FM radio accounting for 49% of visits to stores within a half hour of exposure to messaging. The second highest media was Live TV at 26% and, interestingly, outdoor ranked 5th at 13%. Overall, 75% of measured consumers indicate that radio is the last media contact they have before shopping.

When it comes to iHeart specifically, their ability to reach a mass market audience age 6+ compared to television and social media is unsurpassed, according to Nielsen and Comscore. And, in a special Tik Tok case study using radio to drive new audience growth, iHeart, specifically, out-performs other audio companies in attracting adults 18+. Overall the company reaches 90% of Americans with both national and local presence. Its strength is proving successful among marketers with increasing spend topping $4 billion, dwarfing other audio options.

So in a media world of increasing content and platform choice, technological advancements, a call for privacy that still offers the ability to target effectively, there is no better choice than audio for both consumers and marketers. Radio delivers on all levels.

This article first appeared in www.MediaVillage.com

Artwork by Charlene Weisler

Jul 27, 2022

Get More Immersive with Audio. Audacy Reveals the Optimal Frequency to Engage Listeners.

There is almost an art to measuring the optimal ad frequency in a campaign. Audacy has just released a study that examines ad frequency effectiveness for audio that debunks previously held assumptions. 

The company hosted a webinar moderated by Audacy CMO, Paul Suchman that explored the study results. Panelists included Devora Rogers, Chief Innovation Officer, Alter Agents, Adam Weiler, Executive Vice President, Data, Technology, Analytics and Insights, Spark Foundry and Idil Cakim, Senior Vice President, Research and Insights, Audacy.

The study was conducted by Alter Agents in partnership with Odyssey and Spark Foundry and demonstrated that exposing audiences to audio messages consistently and frequently offers benefits to both the listener and the advertiser because it increases immersion. Immersion is defined as attention plus emotional connection, according to Cakim.

Audio advertising, the report concluded, improves brand equity, growth and sales essentially across the funnel. The assessment, according to Suchman is that, “Ad engagement climbs with each audio exposure across industry categories across platforms and across genres. Audio advertising works.” He noted that the report proves that audio seizes attention and encourages retention, offering brands engagement and impact that drives consumers to action.

But how much frequency is too much? What is the right balance for audio exposure? Weiler noted that, “Radio as a platform is fairly established as a traditional channel but the audio landscape itself is growing and transforming.” Advertisers now have to think more holistically around context, creative and channel while still being able to measure on more traditional metrics such as reach and frequency.

The challenge within the study was to ascertain the right amount of frequency without, as Cakim explained, “bombarding the participants with too high frequency.” The decision was to go with up to 15 frequencies within the limits of the study and then measure variations. She expected peaks because she knew that, “audio was highly immersive,” but, even so, the optimal level was surprising. “The big surprise was how participants became increasingly immersed in a variety of audio messages at increasing frequencies. I was expecting a breaking point or drop off, but that didn't happen,” she revealed.

The study was configured using neuro methodology, measured by a smart watch rather than all of the more intrusive traditional tools of neuro measurement such as gel caps and MRIs. In this way a more uninterrupted experience by the listener could be achieved. Rogers explained that the smart watch captured the variable heart rate which is tied to immersion which is a measure of emotional engagement and responsiveness. The study also included stated data where one could match neuro responses to stated responses from the participants thus blending old and new methodologies together.

“We relied on second-by-second immersion data (biometric feedback from the audience) to measure creative resonance. And we coupled that with surveys that measure key brand effect questions on recall, familiarity, intention, etc,” explained Cakim.

The results speak for themselves. It is well known that immersion levels are important because it is highly predictive of a consumer action with an accuracy of greater than 80%. The study demonstrated that small differences in immersion can lead to significant changes in behavior. Audio, noted Cakim, “deeply holds attention.”

The key takeaways included:

Ø  As frequency increases, so does immersion. The more you expose people to audio ads, they become more attentive and the more ingrained in the content. And this occurred across genres and across audiences. “Deeper and deeper immersion occurred with audio frequency,” Cakim asserted, offering advertisers greater opportunities to place ads in audio. “Frequency in and of itself can be an important tool in helping to understand what an audio plan can do,” Weiler added. “We saw increased engagement as frequency grows.”

Ø  As immersion increases with exposure, so do positive brand opinions and brand equity. By fifteen exposures, immersion and brand opinion reach a high point for advertisers. “The scale for immersion measurement is from 1 to 100. The higher the score, the more immersed you are in the content. We are seeing levels of 59, going past 60 while the average for the industry in advertising immersion is 53. This is a significant difference,” Cakim revealed.

Ø  Immersion also drives consumer purchase consideration with immersion scores in the low 60s. “This helps us to understand that radio is very effective at moving people through the funnel and advancing potential targets on their purchase journey,” stated Weiler.

Ø  Creative matters. The most effective ads were those, “that explained what was in it for the customer and held attention to the end,” Cakim noted. Attention is easier to get at the beginning but hard to hold and sustain until the end of the message.

What can advertisers, especially those who may be new to audio, do with all of this information? “A recommendation to an advertiser new to audio is - go big and bold, devise a total audio strategy, leveraging OTA and digital platforms. And don't be afraid to go to higher frequencies across the board to drive your message home and immerse your audiences in your brand,” she concluded.

This article first appeared in www.MediaVillage.com

Artwork by Charlene Weisler

Oct 15, 2021

The Powerful State of Audio in the New Normal

There has never been a better time for audio, especially integrated audio that incorporates over-the-air radio, digital audio and podcasts. Audacy has just released their State of Audio e-book that details integrated audio's power to track, reach and engage consumers that is backed up by advanced and cutting-edge research and data.

According to the book, Audio has the capacity to, "stir emotions like no other medium." It goes on to explain that "via podcasts, sports, news or music, the auditory-neuro sensory embrace draws us in, makes us feel --really feel! -- and drives us to action. Personal audio (the kind we enjoy alone through our earbuds, smart speakers and talkable tech) is a bigger part of our daily lives than ever before."

The result is increased usage by listeners and increased ad spend by advertisers.

The New Normal

The pandemic has changed the way consumers use media, leading to a new normal and boon for audio. According to the research, there was substantial year-to-year growth in listening at home (+44%), via smart speakers (+43%) and via podcasts (+26%). At the same time, screen fatigue became a stress factor as both work and school locked consumers in front of their various screens. Audio with its mobile fluidity offers consumers the opportunity to de-stress, "and, even briefly, shut out the outside world … Audio just puts us in a good mood," the e-book notes.

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The research and data bears this out. When compared to screens, audio listeners pay more attention, spending more time with audio than social media (+60%), broadcast TV (+54%), cable TV (+49%) and video streaming (+42%).

"In a world where screen time has reached a new and sometimes uncomfortable peak, it's the ears, not the eyes that have always connected most deeply," explained J.D. Crowley, Chief Digital Officer, Audacy. "It's the ears that are generating the most excitement and energy in media today."

The Opportunity for Advertisers

At the core of audio's benefits for advertisers are trust and immersion. The State of Audio guide explains that "Audiences trust the messages they hear from the voices they know. Host endorsements, whether live reads or as part of an ad, drive listeners to buy. A lot." Immersion is a blend of attention and emotional connection. Audio delivers on this behavior with the highest immersion index of any media -- whether AVOD, digital video, linear TV or social media.

Perhaps the most profound and valuable aspect of audio for advertisers is its ability to be accessed anywhere and at any time from a range of sources. Whether cleaning the house, walking the dog, driving the car or shopping, audio is everywhere. The study revealed a resurgence of radio listening in the home, facilitated by the new and growing technology of smart speakers, Bluetooth speakers and wireless headphones that makes it far more mobile than ever before.

The Audio Trifecta

The research revealed that all three audio platforms deliver for advertisers. The overall strength of broadcast radio (which commands an audience at least twice the size of pure-play services), along with the impressive growth of podcasting, especially among younger listeners (83% of whom say their favorite podcasters feel like friends), as well as innovative digital audio (which offers customized experiences), has engendered greater enthusiasm for audio content and, by extension, advertising messages.

Advertisers can take advantage of these attributes in a variety of ways. "Brands are embracing the speaker-as-touchpoint phenomenon, adding voice-triggered ads to their audio campaigns. That paves the way for some amazing new opportunities with shoppable audio interactions."

In addition, advertisers can access the power of audio influencers who can deeply engage their listeners. Audio campaigns have been proven to increase lift in sales conversions (+68%), lift in web visitation (+44%) and lift in in-store visitations (+45%).

Getting Started in Audio

While the opportunity is there for advertisers across audio platforms, it is equally important to have compelling creative and optimized audience targeting. According to the e-book, creative needs to drive recall, intent, engagement and emotional response -- and ad placement needs to occur at the right moment, in the right content for the right audience.

To that end, Audacy offers insights into producing the most compelling creative and accessing over 16,000 attributes to profile listeners and create custom audience segments for advertisers. It also offers a range of measurement opportunities including trackable pixel-based measurement. And depending on the KPI, Audacy offers measurement on foot traffic, brick-and-mortar visits with geofencing, web conversion, sales conversion, brand lift, app downloads and ad-to-app conversions and downloads in near real-time.

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Audacy's e-book offers a step-by-step guide that provides insight into the power and value of each audio platform, the most impactful way to develop and launch the ad message, and the best ways to measure campaign impact through first party data.

Ken Lagana, Audacy's EVP, Digital Sales and Strategy, believes "Audio is the most engaging impression you can buy in media. Period. People are more receptive to receiving a message from someone they know and someone they trust. Only Audio can build these kinds of relationships."

DOWNLOAD the complete State of Audio guide.

 

Jul 16, 2021

Understanding the Radio Listener with Megan Lazovick of Edison Research, Lamar Johnson of NPM and Susan Leland of NPR

Understanding the different permutations of an audience – their behaviors and preferences - is pivotal to the success of any venture. That’s why NPR, in partnership with Edison Research, crafted a study designed to fully dimensionalize not only NPR’s audience specifically but the radio audience in general. The result is their recently released Radio: Live on Air and Everywhere which teases out six specific and unique radio audience segments, matching them to NPR, to AM/FM Radio listeners and even to Television.

Why Do the Study?

“We really wanted to take a fresh look at the radio platform and the role it plays in people’s lives, particularly to help media buyers,” explained Susan Leland, NPR's Associate Director of Audience Insights. In an increasingly digital world, it was important to prove out that radio is still very important. And it is.

The current state of radio is robust. Leland shared that, “Radio consistently has the largest reach of any media. It was 88% in the latest Nielsen data, just ahead of smartphone apps. It also counts for the largest share of audio listening and when in the car, radio counts for the majority of listening time.” In addition, Edison Research found that 63% of Americans listen to AM/FM radio each day and 89% listen each week.

For NPR in particular, this study comes at a momentous time. “This spring, NPR celebrated its 50th anniversary. We have a great legacy in the radio space,” explained Lamar Johnson, NPM Vice President, Marketing. “Part of that legacy involves having an understanding of the radio listenership and the audience. It is an ongoing objective for us,” he added.

Radio: Live on Air and Everywhere Methodology

NPR and Edison Research used three studies for this report. “First is share-of-ear which is a diary study of over 4,000 people age 14 and older that we conduct in the U.S. quarterly. We measure the amount of time people are spending with audio. That’s how we identified the growth in time spent with spoken word,” explained Megan Lazovick, Vice President, Edison Research who added, “We followed up on that share-of-ear information by conducting some in-depth interviews via zoom. Things that we learned from those in depth interviews were used to put together an additional survey … a national online survey of 1,000 monthly spoken word audio listeners, which is about 75% of the US population.”

Six Unique Radio Audience Segmentations

One of the major takeaways from this study is the clear delineation of the radio audience into six distinct and unique segmentations, each with their own preferences, demographic skew and behavioral patterns. “One of the interesting things about the six groups and the spectrum is that the more engaged group is, the more open they are to advertising,” stated Leland.

Radio Heads. These super fans essentially use radio for everything. They are more likely to be female under the age of 54 and over-index among African Americans. They listen to all formats on all platforms and spend more time with AM/FM than any other segment. Not only are they advertiser-friendly, they have the money to spend to purchase products and services because they have high employment, higher education and higher average income. Radio Heads represent 9% of all radio listeners.

Connection Seekers use radio as a way to connect and understand. They tend to be older women and are the second heaviest users of the medium. They gravitate to the spoken word, tend to listen at home and are also very advertiser-friendly. They represent 16% of all listeners.

Infomaniacs where listening is driven by news, skews male. They tend to listen in the morning, prefer the spoken word and gravitate to formats such as news, sports, personalities and talk. They index high for NPR listening and are open to advertising and sponsorships. They represent 18% of listeners.

Rhythm Rockers whose listening is driven by music, is heavily younger female, Latinx and of lower incomes. They are more likely to stream, but AM/FM is king in the car. They represent 27% of all listeners.

Laid-back Listeners who listen to radio in the background tend to be age 35+ who are radio-centric, preferring to listen on traditional platforms rather than streaming. More than half of this group listen to ads and prefer music over other formats. They are 17% of all radio listeners.

Habitualists listen to radio when it’s the only option available. They also skew 35+ and are not that interested in audio in general. Yet, more than half say that they listen to ads on radio and still spend three hours listening in an average week and would miss radio if it were no longer available. They prefer to listen on traditional platforms and not on streaming ones and their preferred format is music rather than the spoken word. They represent 13% of all listeners.

NPR Listener Segments

For NPR listeners specifically, “You will find them in every segment, but they are particularly likely to be Infomaniacs, which are news driven users, which makes a lot of sense, and they also tend to be pretty heavy listeners,” noted Leland. They're also more likely to be Radio Heads and Connection Seekers. “Our audience tends to be heavy listeners to radio. It keeps some listeners company throughout the day with the news and especially the conversations. It’s like having a friend in your house who's with you all day,” she added. “The thing the thing that most distinguishes the NPR listener on any platform is that they tend to be really interested in learning and have a sense of real civic engagement and responsibility.”

For Johnson, a notable takeaway from the study was, “the increase in listenership among African American Latino and female women listeners, particularly in the younger 13-34. It's important for us at NPR to attract more diverse and younger audiences. Those are two fairly big takeaways that were pretty eye opening for us.”

Open to Advertising

The heavier the listener, the more receptive they are to advertising but, according to Lazovick, all segments of radio listeners, even those who are less engaged, are open to advertising. “They are getting exposed to advertising. They (may not be) as engaged but they are still there they're still open to the messaging, just not as intensely as other segments. The more engaged a group is with radio, the more likely you can influence them with the advertising.”

She added that, “Most people believe that ads are a fair trade for their listening time. They understand the value that they're getting through radio in exchange for listening to a few ads.” When it comes to NPR, “We asked specific questions to NPR listeners and a final key finding is that NPR listeners are very open to sponsorship members’ messages.”

According to Leland, “We asked people on the survey about actions people have taken as a result of hearing advertising and we saw that the more engaged a listener is, more likely they are to say that they considered a product and purchased a product because of an ad they heard on radio.” Lazovick noted, “And because we know NPR listeners tend to be that more engaged listener, their numbers are higher in terms of those same questions about gathering information about a company product or service, purchasing things, recommending products. They are more likely to have done that than the average AM/FM radio listener. The numbers are high on both sides, but NPR listeners are a bit higher.” Local advertising in particular can benefit from a radio presence.

Radio Compared to Television

When it comes to attracting a focused consumer, advertisers are strongly advised to turn to radio. Even compared to television, radio shows superiority in terms of focusing attention. “When we watch TV, most people these days are doing it while they're distracted with another device. They may be watching streaming that doesn't have any advertising and they may be watching broadcast and avoiding the ads by switching to their smartphone. But when people listen to NPR content, they really are engaged,” stated Leland who added, “We find that people are much less likely to multitask when they're listening to our content in part because they are less likely to multitask with other media. They're going to be multitasking other ways - doing chores, cooking dinner, going for a walk - but they're not going to be trying to listen to a conversation on Fresh Air and watch TV at same time. You need to give you the whole attention of your brain.”

Pandemic Impact

While broadcast radio declined early in the pandemic when lifestyles were disrupted, it has been on the upswing and getting back to normal now. “While we saw people shifting away from broadcast radio, we also saw more people tuning into station streams,” Leland noted. In fact, NPR’s listener hours on streams were up from last year. But, as Leland explained, as Americans get back into their cars and commute, there will be a strong return to AM/FM listenership.

Next Steps

This is the first study of its kind for NPR but not the last. “This study was really enlightening to us in terms of understanding the segments and the behaviors. We'll be talking further about what we might do in this lane in the future,” Johnson concluded.

Jul 10, 2021

The Power of Audio in Adding Impact and Speed to a Media Plan. Audacy’s Idil Cakim Reveals Results of a New Study.


The true value of one specific media platform is often in synergy with other media platforms. Audio is one media form that not only has strength on its own but also super-charges lift as part of a full media mix. That is what Audacy found in their recent Audio Amplification study, a meta-analysis of audio performance that was conducted over a three year period 2019 through 2021.

Idil Cakim, Senior Vice President, Research and Insights, Audacy, explained, “We partnered with Neustar for this analysis and they were able to look at more than forty media mix models across industries – auto, financial services, telecom, retail and large national clients – to give us a perspective on how audio was placed in these plans and what the scenario would look like if audio received more investment and how it would optimize these plans.” She added that, “We were always curious about what the impact of audio on returns and this gave us an opportunity to look at it from a high level perspective and a broad way and also understand how audio functioned in a media mix which is a lot of our clients’ reality.”

Audio Amplification Study Key Findings

Audio Adds Impact - One of the major findings of the study was that even a slight shift in media spending into audio can have profound positive impact on the campaign. “Audio is currently under-invested,” Cakim noted, “and that under-investment might be 15%. In some industries, it could be more than 50%. But it is currently under-invested and that spells out a missed opportunity for a lot of marketers and advertisers.”

The study found that it doesn’t take much added audio weight to make a big impact. “We found that an average of a 1.2% shift from other media to audio, yields a lift in audio ROAS (return on ad spend) of 23%,” she revealed. The study also found that both Over-The-Air and digital, advanced this finding. “There is tremendous value in combining,” she added.  

Audio Worked Fast and Lasted – Cakim noted that when audio is added to a plan, its lift impact was felt immediately. “It peaked within two weeks across industries, some even faster. So you get results fairly quickly but it was also eye opening to see that the results lasted a long time, up to twenty-one weeks. So imagine investing in dollars that are giving you a return in one to two weeks and that you are seeing the impact of those dollars on your brand image, on your intention, on walk into stores and eventually on sales.”

Examining and Defining Lift and Success

The study centered on increasing lift. Lift, she explained, is defined as, “Propelling a difference, causing an impact, creating an increase,” of any sort. Success, “was defined as sales for the purposes of this study. But sales can mean different things to different organizations. Sometimes they count units, sometimes they count dollar amounts. The data scientists at Neustar normalized the data to make sure that we could just look at it as a revenue driver.”

The results of success confirmed Audacy’s hypotheses that, “What we saw day in and day out, was seeing the scale of the impact – that was eye opening,” she stated. “We could tell you that audio deserved more dollars and that audio created impact but seeing that scale was really affirming.”

Benefits of Audio, Regardless of the Pandemic

I asked if the study results were impacted by the pandemic but Cakim explained that the study looked at media plans from 2019 through the current time with the pandemic months excluded from the analysis. This careful study craft reinforces the positive and lasting impact of the results.

“The beauty of audio is how nimble it is and how it seeps into every moment in a day, especially now as people change schedules and habits, we are in a bit of a different time now. Rush hour has changed, work habits changed but audio is consistent in all that change. It’s with you when you wake up, it’s with you when you are on the go and it’s with you when you are seeking that alone time and want to focus on a topic of interest,” she noted, proving that audio deserves investment.  Advertisers take note - certain advertising categories are especially under-invested in audio, according to Cakim. “Auto was the most under-invested category,” she noted, “So they benefit the most from moving dollars to audio.”

Looking Forward

While the pandemic did not factor in the study’s measurements or results, it has impacted human behavior and this shift can positively impact the future of audio consumer usage. “I think we are at an incredible juncture point because, during Covid, we saw changes in behavior, adoption of technology, media consumption that, perhaps we would have waited years to take place. Smart speaker listening surged (as had) the increases in at-home listening. The podcast surge is something incredible that has sped up. So I think we are only going upward and forward,” she shared.  

For Cakim, smart advertisers must understand, “what really moves the needle. Audio is more than just digital pure plays. That is part of the ecosystem, for sure. Media is more than just binge watching.” She revealed that in a separate study, Audacy found that consumers tend to tap into seven different media sources in an average week. “It is beautiful, chaotic and challenging. It’s great that there are so many touch points but it’s also hard to break through. You have to be mindful going into it. The future of audio is that we see it earning its fair and proper share in the media mix and being leveraged more effectively and efficiently by marketers because it is only growing with all of these digital channels,” she concluded.

This article first appeared in www.MediaVillage.com