Incorporating audio data and technology into advertising platforms makes it easier for companies to invest in podcast and audio advertising and get more value from those investments. It’s that simple! However, many platforms don’t specialize in audio offerings, resulting in an untapped market that savvy advertisers can now leverage.
Learn about the benefits of integrating audio data with an ad platform through a data partner like Backtracks for more successful marketing outcomes.
Advertising Platforms and Exchanges
Here’s a quick definition of an advertising platform:
It’s a space that allows advertisers to monetize online traffic without an advertising agency or intermediary. Advertisers can manage and control campaigns for products and services through one of these platforms.
There are different types of advertising platforms. Ad exchanges let advertisers directly sell ad inventory to buyers without a middle person. (That saves lots of money!) Data-driven platforms allow marketers to reach customers through targeted campaigns based on the latest metrics. That can help improve customer engagement, loyalty, and retention.
Advertising platforms provide more control over ad sales, allowing companies to optimize campaign effectiveness and reduce advertising costs. Advertisers can also manage campaigns 24 hours a day without waiting for a third-party agency. Multiple industries use advertising platforms to improve campaign management, including retail, finance, healthcare, and professional services. These are all good things.
The problem is that few advertising platforms incorporate data from digital audio — one of the most successful mediums in the world right now. So what gives?
The Rise of Digital Audio
Digital audio will make up 12.7% of all media consumption time among U.S. adults in 2022. The average adult will spend 1 hour and 40 minutes listening to digital audio every day — more time than watching over-the-top subscription services (stuff like Netflix!) and using social media. As a result, experts predict that ad spending in the digital audio advertising sector will reach $7.65 billion in 2022.
Integrating digital audio data into ad platforms can prove lucrative for advertisers. For example, ad buyers can access the latest metrics about a podcast — say “The Fascinating History of Toast” — before bidding on the podcast creator’s advertising inventory. These metrics might include the number of people who listen to the podcast, what devices and apps they use to access episodes, their interests (toast!) and where in the world they listen from. Pretty impressive, right? That helps buyers decide whether advertising on a future podcast episode will generate a return on investment.
Advertisers can also compare audio data with data from other media and sources. That provides a single source of truth for advertising data that can improve decision-making and drive ad revenue.
Audio data is becoming increasingly accessible, transparent, and granular, making it extremely valuable for buyers wanting to reach audiences. So why are few companies capitalizing on this data? Perhaps they think it’s too complicated. Or it won’t provide any worthwhile insights. These companies haven’t heard about Backtracks!
Integrating audio data such as ad conversion data across podcasts, streaming music platforms, radio apps, and other digital audio sources into an ad platform can help advertisers measure campaigns:
- Advertisers can use attribution to identify digital audio consumers’ actions that result in an outcome and assign a value to these outcomes.
- Advertisers can generate real-time analytics about audio data that influence advertising strategies and spending.
- Advertisers can measure digital audio performance against key performance indicators and improve conversion tracking, engagement, and sales.
Being able to track the latest digital audio data in a single advertising platform makes sense for companies wanting to maximize campaign performance. It’s more convenient for advertisers to manage and analyze multiple forms of media buying in one place rather than relying on several different tools. A lot more convenient!
A data partner, like Backtracks, integrates into an existing ad platform and provides advertisers with access to high-level analytics that can positively influence media buying campaigns. These analytics aren’t the same old ones advertisers can find within their existing ad platforms. Backtracks provides the best digital audio analytics available right now, including multi-channel audio statistics, historical data, podcast measurement data, and more.
Taking the Manual Work Out of Audio Ad Buying
Purchasing and serving audio ad slots on podcasts and other mediums is a manual-heavy process that requires lots of trial and error. Which podcast advertising campaigns will prove most successful? What demographics will listen to ads? Will audiences respond to ads? Advertisers might have to conduct market research or brand lift studies about digital audio consumers or rely on analytical tools that don’t provide the granular insights they require.
A platform like Backtracks takes the guesswork out of audio advertising by centralizing the media buying process at scale. It offers an incredible range of audio and listener datasets within an existing ad platform so advertisers can learn whether their digital audio investment is worth the time and money. No more wasted time!
Why Is This Such a Big Deal?
Integrating digital audio offerings into advertising platforms puts digital audio on the same level as other media types, allowing advertisers to get much more from their investments. Advertisers already know how to use ad platforms, so integrating digital audio data into these platforms requires no learning curve.
Combining audio and podcasting advertising data into advertising platforms also helps advertisers better evaluate ad spending across multiple forms of media. That allows companies to scale their marketing efforts.
The average American adult spends more time listening to digital audio than watching Netflix and using social media! So super-smart advertisers are integrating data about audio and podcast advertising into ad platforms to optimize campaign management. Companies can now view media buying information and analytical insights in a single platform for more lucrative marketing outcomes.
Using a data partner like Backtracks to integrate audio data into an advertising platform benefits companies wanting the latest audio advertising intelligence. Features like podcast analytics, podcast advertising, and podcast marketing attribution will revolutionize how advertisers use data for media buying. Request a demo today!