These solutions, currently under development by the company’s Technology Innovation Lab, are inspired by the latest advancements in AI as well as production barriers that are preventing smaller businesses from investing into audio to promote their brand. This is according to AdsWizz’s The State of Audio Technology Report 2023 which looks at trends, themes, and opportunities in the audio adtech industry.
“There is a need and appetite for tools with simplicity, scalability, and efficiency at their core,” the report stated. “This technology will be critical for publishers as the temperature turns up on ad dollars in an unpredictable economy. We're in the midst of an innovation renaissance, with advancements in audio playing a part in expanding existing tools and capabilities into new forms of media.”
Audio giant Spotify is reportedly also testing AI-generated host-read ads, according to statements made by The Ringer founder Bill Simmons on a recent episode of The Bill Simmons Podcast. A Spotify spokesperson told Techcrunch that the platform does not have anything to announce yet but that it is “exploring a wide array of applications” as the AI landscape continues evolving and testing new offerings for creators, advertisers, and users.
Adswizz already uses AI in a number of its solutions, including its transcription technology which ensures “perfect content matching” via keyword targeting and brand safety via page-level analysis. Adswizz also offers an AI music integration solution that uses AI to dynamically adjust the background tracks of audio ads to match the station or podcast’s music genre for a more personalised ad experience.
The report also highlighted that advertisers can leverage AI to create interactive audio ads that will allow its audience to engage in order to learn more. This is similar to French publishing company Lagardère, which ran an interactive audio ad campaign across podcasts that allowed listeners to drive tourism in Burgundy. Voice-activated ads using AI can also be powerful for advertisers that want to deliver highly targeted and engaging messages.
Contextual targeting has become an increasingly important consideration for brands that want to advertise in audio, according to the report, as it can lead to better engagement with audiences by delivering a more personalised experience. AdsWizz offers a dynamic creative optimisation tool which allows advertisers to reach multiple audiences through one campaign by delivering different ad variations based on targeting criteria like behavioral segments, location, weather and device type.
“Targeting helps advertisers to optimize their ad spend by minimizing wastage and improving the effectiveness of their campaigns,” said Adswizz and SXM Media product vice president Molly Ponzo. “By leveraging data and analytics to inform their targeting criteria, businesses can gain valuable insights into their audience's behavior, preferences, and interests, allowing them to create more impactful campaigns.
“These measures are a critical factor in the success of audio advertising, delivering personalised messaging that drives engagement, loyalty, and revenue.”
Brand safety and transparency are also two important considerations for advertisers that want to invest in podcasts, but want to know what kind of inventory they’re purchasing and how their money is being spent. Adswizz predicts that moving forward, data transparency will be less of a request from advertisers and more of a demand.
“Data enhancement facilitates visibility into market trends and helps unlock more revenue,” the report said. “With data-rich inventory, buyers can feel confident that their money is being wisely spent.”