For those who are passionate about the sonic arts and sciences and their role in branding and marketing, 2023 was a good year.
Audio consumption grew, emerging formats continued to promise even more opportunities to reach listening ears, and as 2023 draws to a close, 78% of monthly streaming audio listeners are consuming ad-supported content.
The rise of immersive audio experiences this year, coupled with advanced data analytics and programmatic advertising, has allowed for more context-aware ads, deepening connections with listeners. And more brands and advertising agencies appear to have understood the power of sonic branding as well (case in point: WPP’s recent acquisition of audio branding agency AMP). Brands with strong brand assets achieve 76% higher brand power and 138% higher perceptions of advertising strength. That includes sonic assets.
So, what sonic trends are on the horizon? Instead of offering prognostications on the future of audio advertising in 2024, here’s something more helpful: four New Year’s resolutions that can set you on the road to sonic success, regardless of how the future unfolds.
Don’t sell audio short
There are two ways brands sell audio short. The first is by undervaluing audio’s power to increase brand salience recall and purchase intent while strengthening brand perception and emotional connection with consumers. Even though consumers spend 31% of their media time engaged with audio, only 9% of media budgets are allocated for audio channels.
Consider, too, that audio has been shown to be more effective than visuals in producing attention and recall, and distinctive audio assets significantly outperform distinctive visual assets in producing brand salience, even though these sonic cues are used less than 10% of the time in advertisements.
The second way brands and agencies sell audio short is by underestimating the power of audio to build brands. Far too often, audio advertising is relegated to short-term, performance-based approaches, driven by wall-to-wall voiceovers that offer a litany of product benefits, price points and promotions. Audio advertising can deliver for the short term, but it’s even more effective at producing emotional connections with listeners and creating memorable experiences that resonate with audiences on a deeper level. Rather than selling audio short, think of it as a powerful tool that can build your brand over time.
This resolution may be particularly important in the year ahead, given the inevitable integration of AI into operational and creative workflows, and with it a further temptation to concentrate on performance-based advertising at the expense of long-term branding.
Focus on first consideration rather than last click
Focusing on attribution metrics and performance-based approaches can result in advertising that chases “clicks.” These short-term approaches are important for connecting brands with consumers when they’re ready to make a purchase, but research suggests that only 5% to 10% of consumers are in-market at any given time. In fact, studies have demonstrated that to win the “last click,” a brand needs to be “first considered.” In other words, winning the bottom part of the funnel is improbable without owning the top.
What does it mean to “own the top?” It might be helpful here to abandon outdated frameworks, reimagining the funnel to more accurately reflect the actions of building brand memories, nudging brand associations and connecting buyers when they’re ready to make a purchase. Audio, with its unique ability to shape perceptions and behavior, is perfectly suited to helping brands build top-of-mind consideration.
In addition, audio can easily be adapted to a variety of touch points and formats, making it a cost-effective way to increase reach and amplify brand impact across multiple channels.
Recognize the importance of creative effectiveness and optimization
Regardless of whether your advertising goals are short or long, great audio creative can significantly improve the financial returns of your audio campaign. With creativity ranking just below brand size and market share as a profit driver, brands and their agencies should prioritize the time and resources necessary to produce high-quality, creative audio content. Big ideas that break through a cluttered media space and connect emotionally with your audience will win the day.
Yet finding that big idea isn’t enough. Creative effectiveness is also a function of optimizing your audio content for maximum channel effects. That means making a commitment to finding the right blend of creative excellence, messaging and formatting for the various audio touchpoints in your sonic ecosystem. Optimization will impact attention, enhance memory and yield better short- and long-term outcomes. Great audio creative optimized across multiple channels is the key to getting more bang for your audio bucks.
Strive for sonic diversity
As mass marketing and multicultural marketing continue to merge and evolve, brands need to renew their commitment to sonic diversity. Mass-market advertising should reflect the rich tapestry of cultures and languages that make up your audiences. That means your audio content should resonate with a wide range of demographics, reflecting diverse voices, languages and cultural references, and ensuring inclusivity and broad appeal. Let’s face it: If the only time you’re hearing voices of color in your audio advertising is when you’re speaking to a particular market segment, you haven’t just segmented your marketing approach; you’ve segregated it.
SXM Media’s research has demonstrated that a commitment to sonic diversity will result in advertising that is judged more favorably by BIPOC consumers, with no negative impact on favorability or effectiveness with other consumer groups. Therefore, SXM Media encourages brands and agencies to continue taking a stand for sonic diversity in 2024.
The sound of success
Venturing into 2024, these resolutions aren’t just nice things to consider; they’re necessary for brands to thrive in a world where capturing the ears of your consumers is as important as capturing their eyes. By committing to these four resolutions, brands can create impactful, memorable and inclusive audio advertising that resonates with audiences, ultimately driving long-term profitability and growth.
Here’s to 2024, and the sweet sounds of success.
