We still have plenty to do as we get closer to launching, but that doesn’t mean we don’t take time every so often to educate ourselves on current trends.
Last week, we attended RAIN’s Online Audio Advertising Summit and learned several interesting things about the audio industry. Here were our top five takeaways.
- Audio is a great medium for making things feel relevant to people. Listeners then feel driven to act on what they have heard. – Guy Jones, Global
In one case study, Jones reported that people exposed to an audio ad in a geofenced area were 67 percent more likely to enter the company’s store afterward.
We have similar feelings when it comes to the powerful nature of location-based audio — beyond ads. We wanted to incorporate geolocation into our stories so listeners could have more context and better relate to a story upon hearing it.
- People listening to music compared to spoken word has reached a ratio of roughly 77-23. – Tom Webster, Edison Research
Historically, Webster said this was roughly an 80-20 ratio, but we’re now seeing movement. Edison’s latest data on podcast users in the U.S. found that 73 million people listen to podcasts monthly, a nearly 9 percent increase from last year.
This tells us that audio isn’t going anywhere. And now is a better time than ever to capitalize on this type of content. In fact, venture capitalists are also starting to invest more dollars into podcast-related startups.
- We’re living in an era where an ad’s creativity better be good to grab listeners. – Dan Richardson, Mindshare
We realize that it’s sometimes hard to find 30 minutes or an hour to listen to content. That’s why our stories are bite-sized. But this also means that we only have a few precious seconds to capture listeners’ attention. We’re working hard to make sure our stories are interesting and creative enough to do this.
- When a podcast host reads an ad, he/she improves the ad’s effectiveness. – Lex Friedman, Midroll
This tells us that podcast hosts build a sense of trust in their audiences. We try to achieve this by incorporating “everyday experts” into our stories. We think featuring authoritative voices will help our stories resonate even more and make the information more memorable.
- If you’re doing audio well, it should create a visual component in the listener’s mind. – Fannie Cohen, Fannie Co.
We’ll let this one speak for itself!