Pandora's Definitive Guide to Audio Mixes Up the Perfect Cocktail

quotIn today39s increasingly audiocentric world brands can effectively and efficiently find their most valuable audiences within an adsupported streaming audio environment like oursquot said Liz Lacey vice president of sales marketing for PandoraIn its 2021 Definitive Guide to Audio Pandora delivers key insights and trends on audio for marketers This second edition aptly titled quotThe Innovation Boomquot identifies three ways brands can benefit from digital audio39s capabilities efficiency effectiveness and engagementIn a systemic shift digital audio now accounts for 55 of all time spent with audio surpassing AMFM radio listening for the first time per Edison39s Share of Ear Study About twothirds of users stream digital audio on mobile devices and audio is expanding its access points A recent eMarketer forecast estimates that between 2019 and 2023 audio usage will grow 31 on smart speakers 21 on wearables and 14 connected TVquotUsing digital audio is an effective channel to reach audiences that aren39t consuming traditional media to achieve incremental reach and deliver their key audiences in those screenfree momentsquot Lacey notedWith opportunities to target by context moods and moments coupled with unrivaled precision and targeting audio publishers like Pandora assert they39re now a mustbuyAudio Delivers Massive Audiences with EaseAcross media Lacey said marketers want to engage as many users as possible with the easiest buying experience In response Pandora created a new service for brands to plan produce manage and measure audio across Pandora and sister Sirius XM Holdings39 owned companies Stitcher SiriusXM SoundCloud and NBC Universal News with a singlepoint marketplace Combined those platforms reach nearly 8 in 10 online audio brands creating scale and efficiencyquotThey now have access to an audience of over 150 million listeners across a multipublisher platform every form of audio content and millions of artists hosts and influencers across all devices all through one simple buyquot Lacey notedAchieving Maximum BenefitsAt a time when consumers have more media choices than ever brands need to understand where and how to find them Digital audio Lacey said can effectively locate the best audiences and direct the most appropriate ads to themquotThe reality is your consumer today is a moving target And the first step to engage your audience more efficiently and effectively is taking notice of how consumers are increasingly adopting more connected devices to their everyday livesquot Lacey saidWith data from its loggedin users Pandora can dig into troves of data on behaviors demographics activities and even moods Its dynamic audio solutions can allow brands to be nimble and tailor messages to location weather and even the time of day Audio messaging can quickly be updated or changed and doesn39t come with the hefty creative costs associated with video adsEngagement Is the Name of the GameTo stay ahead Pandora and others are experimenting with the latest ad tech and creative formats For instance to break traditional conventions Pandora is tinkering with the length of audio ads The company is also actively developing interactive voice ads where listeners can engage with the brand and take action by speaking to their smart speakers voice assistants and even voiceactivated remotesEarly efforts are yielding promising results Pandora reports that quotsaythroughquot rates where users respond with voice actions are up to 10amp215 higher than their clickthrough rate counterparts and users had a 27 higher purchase intent over audio ad benchmarks for those who engage The company plans to make interactive voice ads available to all of its brand partners later this yearBy offering highly targeted ads and engaging ad formats Pandora notes that both advertisers and audiences win out When users feel ads are more personalized to them and less disruptive consumers are more accepting and responsive In fact 73 of users said they39re more likely to engage with a contextually relevant adContent Remains KingOf course for all media the consumer experience begins and ends with great content Along with their popular music content Pandora SiriusXM and Stitcher are each aggressively expanding podcasts including in sports comedy entertainment and news The pandemic has accelerated podcast listening and Lacey said advertisers are clamoring to get involved Marketers are particularly interested in working with podcast hosts and producers to integrate their brands into podcast content and hostread ads In response Pandora is expanding ways brands can collaborate with its podcast creators and talentquotWe have an amazing slate of unique programming and sponsorship opportunities featuring SiriusXM Pandora and Stitcher talent as well as our exclusive relationships with sports news comedy and talk brandsquot Lacey saidIt39s just another way digital audio publishers like Pandora can stay ahead of the curveAs the Definitive Guide to Audio concluded quotThe ingredients for that perfect engagement cocktail are data personalization and scale and that39s exactly what we39re serving upquotWant to read the 2021 Definite Guide to Audio The Innovation Boom Volume 2Download NowClick 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 MediaVillagecomMyersBizNetamp160

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Pandora's Definitive Guide to Audio Mixes Up the Perfect Cocktail

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Alli Romano

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Pandora's Definitive Guide to Audio Mixes Up the Perfect Cocktail

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