As advertisers look ahead to 2020, many feel they must choose between an advertising path focused on mass reach brand awareness or an alternative path to direct sales through targeted digital media advertising.
Many recognize the power of promoting a brand through a strategic mass media approach but cannot deny the benefits and return on investment offered by a targeted digital plan. 2019 marked the first time digital ad spending surpassed traditional media spending, signaling a shift in strategy, budget and execution by many U.S. brands. At A. Bright Idea, we believe a strategic digital media plan can increase brand awareness and drive leads, using a combination of cost-effective advertising tactics.
In the past decade, digital advertising capabilities improved significantly, giving advertisers the opportunity to target niche audiences, see results in real-time and make adjustments mid-campaign to impact sales and maximize budget. Audience targeting capabilities also improved with audience segmentation, enhanced geo-targeting and IP-targeting. The incorporation of first-party, third-party and CRM data gave digital advertising legitimacy in the lead generation space. This data-driven approach allowed advertisers to focus on an audience most likely to interact with their brand and used tangible data to reach the lower end of the purchasing funnel. And, best of all, digital advertising costs a fraction of many broad-reaching mass media buys.
In theory, converting to a pure digital advertising campaign checks all the boxes, but this approach has its drawbacks too. High frequency of exposure to the same audience can cause burn-out and potentially turn consumers away from a brand. Also, limiting reach to those already in the funnel ignores a potentially untapped audience of new customers. Once marketers churn through existing leads, they must find ways to feed the top of the funnel and ultimately cultivate new leads, which cannot be done at the micro-level.
Fortunately, companies do not have to stand on one side of the advertising fence or the other. With more options than ever before, the right formula often includes a combination of digital media that reaches the target audience at multiple points along the consumer journey. As we look to 2020 and consider all of the media options around us and those yet to come, A. Bright Idea considers the following to help build and ultimately execute an effective media campaign:
- Know your target audience
- Outline campaign goals and objectives
- Pinpoint key timing and benchmarks
- Determine what you want to learn from the campaign
- Identify key metrics to measure campaign success
Learn more about how A. Bright Idea can build a media plan for you! https://www.abrightideaonline.com/work?select=advertising-services
Marketers always look for new and exciting ways to reach their customers and grow their brand. In recent years, while digital advertising has seen steady growth, standing out from the din of every other advertisement out there can be a challenge.
For businesses looking to target audiences towards the bottom of the sales funnel, converting interests into sales, podcast advertising might be a worthwhile option as part of a strategic advertising effort. Podcasts target a niche, captive audience to which a brand can push its product or service directly into the ears of listeners interested in first, the podcast content, and second, products or services that meet a need and/or match the content of the show.
Any effective advertising campaign works through the sales funnel to figure out where customers are along their buying journey and how to get them to convert while spending as little as possible per conversion. TV, radio and digital ads all play important roles throughout the sales funnel from building awareness and interest to conversions. The old saying, never put all your eggs in one basket, holds true in advertising. Use podcasts in conjunction with other mediums to ensure your brand hits a wide range of people in the funnel.
As podcasts continue to grow as an important and worthwhile medium for marketers and brands, businesses must understand what makes a podcast advertisement unique. Once you’ve gained a better understanding of the medium, consider if your business and podcasts are right for each other.
Here’s what you need to know about podcasts before adding the tool to your advertising strategy.
- Trusted voice – If there’s one thing podcast listeners have in common, it’s their trust in the host. Podcast hosts fall into the influencer category. The audience views podcast hosts as experts and their shows are a manifestation of their interests and expertise. By creating engaging content audiences come back for repeatedly, they build an audience that genuinely trusts them. It’s that trust that plays well for advertisers. Most ads use live reads, delivered directly by the host at the beginning (pre-roll) or midway (mid-roll) through the show. Live reads, similar to radio, come across like a recommendation from a friend with an authentic feel. Considering your audience, find podcasts/hosts that pair well with your product or service. If their show, voice and audience all match your organization’s brand and target audience, you’ve found a good fit.
- The product/service – If you want to advertise on podcasts, you need a product with a broad user base. This is due to the fact that podcasts have a fairly wide range of demographics in their audience. Ads for essentials like underwear, razors, beds and other products are the norm on podcasts because just about everyone uses them. Pairing the right product with the right audience allows the brand to reach more potential customers. A podcast framed around exercise, with a core audience of health enthusiasts, is more likely to advertise jump ropes, foam rollers and Whey protein than it would a new brand of coffee or an online flower delivery service.
- A special offer – It’s true, sometimes you just can’t pass up a sale. Podcast ads not only win over audiences with trusted recommendations and useful products, but they almost always tack on a special offer code at checkout. Brands will offer podcast listeners an even deeper discount to further entice on-the-fence buyers.
Podcasts have risen in popularity over the past decade, gaining the attention of brands and marketers who happily fill the podcast niche with quality ads reaching dedicated audiences, something difficult to come by these days. Consider adding this strategy to your marketing toolbox when the brand, audience and budget match up with what podcasts have to offer.