More brands and publishers should be incorporating audio as part of their media mix as they plan their marketing strategies for 2024, according to a new insights report by audio research and analytics platform Veritonic.
The 2023 Insights Package is a recap of valuable data that Veritonic and other platforms such as Edison Research have already revealed throughout 2023, which aims to show the impact of audio and why more brands, agencies, and publishers should be investing in it.
“Our mission is to empower our clients, partners, and marketers at large, enabling them to harness the immense potential and expansive reach of audio to connect with their audiences in a way that surpasses the capabilities of any other advertising medium,” the report said.
Podcast listeners are tuning into more content now than ever, with 70% of the US population being weekly online audio listeners according to The Infinite Dial 2023 report. They’re also immersing themselves with audio more than they are with other mediums; the Lumen AM/FM Radio and Podcast Attention Study from Dentsu showed that audio ads are 128% more effective in retaining the attention of their audience than TV ads.
To create an effective podcast advertising campaign, the report highlighted the importance of creative testing by determining which ads resonate the most with their audience and enhancing ongoing creative assets. By testing with existing audio assets, brands will be able to determine the preferences of their target audience and if they are succeeding in gaining their attention, tailoring future campaigns according to the results they get.
Brands and publishers can turn to audio attribution solutions to track the effectiveness of their campaigns, with examples such as Veritonic’s pixel-based and prefix URL Brand Lift solutions. Other platforms have also introduced audio measurement solutions for advertisers to track their campaigns including Podchaser, which recently launched an Airchecks tool that tracks the performance of campaigns that are in-flight.
Veritonic also recently announced that its long-form analysis tool, which gives publishers insight into which content is resonating with audiences across their own work and competitors’ work, will now be available for video including TV and YouTube programming. Video podcasts are also included as they are available on the YouTube platform.
“We remain committed to providing our clients with the actionable data and insights they need to make informed marketing and business decisions across all channels,” said Veritonic CEO and founder Scott Simonelli. “Where audio and video often go hand-in-hand, extending long-form content insights to video enables us to super-serve our clients, and to continuously innovate and evolve our proprietary methodologies and AI to support the provision of sophisticated data and analytics across all formats.”