Reach and frequency are priority metrics for evaluating digital voice campaigns

Their ability to expand media plans, increase brand awareness and reach specific audiences are some of the top reasons to invest in digital voice. Likely 47% of advertisers and agencies say advertising on this channel is or is their main choice Main media options

This came in the report “Evolution of digital audio advertising in Europe” prepared by him GroupM Nexus In cooperation with IAB Europe. The analysis addresses the level of knowledge regarding planning, buying and selling digital audio campaigns, the state of investment in advertising and the main factors and barriers to this. All this taken as a reference for surveys of 549 advertisers, agencies and media publishers in 29 markets between May and June 2023.

One major conclusion is that digital audio still has room to grow. The report notes that 73% of companies on the media buying side said so Between 1% and 25% of all advertising spending went to digital audio. Meanwhile, 66% of media publishers say they get between 1% and 25% of their total ad revenue from ads on this channel.

“The advertising industry’s focus on attention in a saturated media environment, access quality, and digital audio positions brand security as a promising investment channel for advertisers and a powerful platform for marketers. Editors tap into the context.Daniel Knapp, chief economist at IAB Europe, said in a statement.We expect that the European digital audio market, which reached €772m in ad spend in 2022, will cross the €1bn mark by 2025.“.

Regarding the audio format in which you invest or sell, it is valued differently depending on the type of agent. Taking care of those who are on the side of the space buyers, they basically budget their own streaming (59%), podcasts (59%) and online radio (57%). On the part of media publishers, they indicated that they sell more space in podcasts (68%) than in live broadcasts (46%) or online radio (41%).

Focusing on the knowledge that different agents have regarding digital audio advertising, advertisers and agencies indicate that they have a lot of knowledge in purchasing (23%), planning (23%), and measuring (21%). The answers are similar among media publishers: buying (33%), planning (30%) and measuring (24%).

On the other hand, mobile seems to be the device through which different agents hope to reach their audiences with their audio ads. Specifically, mobile is the most prominent device, for both advertisers and agencies (70%) and media publishers (84%). followed by computers, tablets and cars in the case of ad space buyers; And computers, smart home assistants, and cars in the case of space sellers.

The GroupM Nexus and IAB Europe report also looks at which metrics advertisers, agencies and publishers consider most important in evaluating the effectiveness and performance of their audio campaigns. On both sides of the agent, both buyers and sellers of space, reach and frequency, brand awareness, and campaign recall are the most important metrics.

As noted at the beginning of this article, the ability to Supplementing the media mix (65%), increasing brand awareness (55%) and reaching specific audiences (48%) The main reasons to invest in audio advertising are for dealerships on the buyer side of the spaces. For publishers, on the other hand, the main drivers for delivering audio ads are to increase ad revenue (61%), complement the multimedia offering (52%) and improve user experience (36%).

By focusing the analysis on the drivers of investment in digital audio, Buyers highlights this Increased reach (46%), innovative actions (43%), and targeting (42%). In turn, the main drivers for publishers are the increase in media value (45%), customer requirements (42%) and targeting (38%).

The future of audio looks bright and this is what 66% of agencies and advertisers expect Increase their digital audio ad spend over the next 12 months. In the same way, they also see opportunities to increase their budgets in this medium in the long term (next 18-24 months). For their part, publishers expect to see an increase in their digital audio advertising revenue over the next 12 months.

As a medium that reaches highly engaged audiences in times when visuals can’t compete more, audio is able to complement buyers’ broader plans and publishers’ media offerings.Harry Harkus, of GroupM Nexus EMEA, said.Advanced technologies that enable audio advertising can unlock cross-channel and performance optimization for buyers, which in turn makes audio inventory more attractive and generates revenue for publishers.“.

More information.: The evolution of digital audio advertising in Europe