Audacy Study Uncovers the Big Value of Podcasts to CPG Brands

By creating custom studies with thirdparty measurement firms audio publishers can provide insights to measure attribution and sales lift That39s critical to get large brands and key categories including deeppocketed consumer packaged goods CPG companies to invest in the mediumA pioneering brandlift study for a skincare manufacturer to measure the impact of digital audio and podcast ads on instore purchases was recently conducted by Audacy whose audio ad inventory spans streaming podcasting and AMFM radio stations The study examined a 24week ad campaign across the Audacy Digital Audio Network which targeted adults aged 1854 with household incomes between 25000 and more than 200000The results of the study were critical for Audacy quotWe39ve been looking for a way to measure CPGsquot said Jay Green Audacy39s Vice President Podcast Tech and Strategy quotTo be able to grow the podcasting medium CPGs need to be a big part of it They and their brand agencies need a way to quantify itquotThe study was conducted to determine attribution and sales behavior after the ad exposure The study monitored consumer behavior related to hearing the ad purchasing the skin cream and swiping a loyalty card to receive benefits Data from the loyalty card was used to trace the purchase back to the ad exposure and tease out insights on purchase intent and behavior The measurement teams linked listening to purchases by matching the exposed consumers39 devices to household purchasing data from the loyalty cardsquotHaving loyalty card data was a major plus because it is not something you can easily access in researchquot said Idil Cakim Audacy39s Senior Vice President of Research and InsightsThe study showed the skincare cream39s podcast ads motivated its shoppers to try a product spend more money switch from competitors and even try out the brand39s other products It determined that23 of sales occurred within a week of hearing an adThere was a 5 lift from consumers switching brandsCustomers who heard the ad spent 11 cents more per visitThere was a 6 lift from consumers who heard four versions of the ad52 of purchases came from new customersCustomers purchased additional items from the skincare companyquotI thought it was phenomenal to see the halo effect for the brandquot Cakim noted quotCustomers were buying this product and others Also the number of new customers coming in was very impressivequotTo design the campaign the skincare company requested its ads run within several popular podcasts including Happier With Gretchen Rubin and Guilty Pleasure Audacy layered in other podcasts on its addressable network which includes about 100 titles and can be targeted for factors like age gender education household income and activitiesquotWe knew they wanted to hit a certain demographic or a certain type of audiencequot Green said quotThey had an idea of what shows they wanted included and then the addressable network identified other shows that worked really well for themquotWhile a happy customer is always a goal Green said the study achieves another key objective It showed the CPG client and other brands how podcasts can lift sales and sway customersquotIt39s important for brands to understand that podcast measurement continues to grow and what we can show our clients is nearly limitlessquot Green said quotBrands are now seeing they can use podcasting to get ahead of their competitionquotThis study affirms the impact of podcast advertising on consumers With these studies in hand Green said he hopes brands will dive deeper into the magic of podcasting quotYou39re not going to get these types of returns from any other medium and that39s the story for podcastingquot he assertedThere39s no end in sight for other innovations related to consumer research that will prove digital audio39s value even further quotPodcasting technology and marketers39 understanding is growing by leaps and bounds and every six months there is something new to try out and testquot Green concludedClick the social buttons to share this story with colleagues and friendsThe opinions expressed here are the author39s views and do not necessarily represent the views of MediaVillagecomMyersBizNet

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Audacy Study Uncovers the Big Value of Podcasts to CPG Brands

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Alli Romano

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