How Streaming Audio Brings a World of Analytics
The audio streaming business is growing steadily, expected to reach a staggering $13.66 billionthis year. Streaming provides a convenient way for listeners to access their favorite music, news, and radio shows from anywhere. Digital audio also offers benefits for the providers.
Digital audio creates opportunities for radio producers and programs to reach new audiences and learn more about who is listening. The valuable information gained provides many advantages for producers. In this post, you’ll learn about the critical metrics to track, how to measure listeners, and how you can leverage your findings for a competitive advantage.
How Metrics Differ Between Streaming Audio and Radio
While audio and radio may be used synonymously in many instances, the metrics for measuring them have some differences. Radio has tried-and-true methods for measuring its audience, including ratings and qualitative research through surveys and interviews to understand demographics. Key metrics include reach, brand awareness, website traffic, gross sales, and return on ad spend (ROAS). Streaming collects analytics compiled from user info gathered by individual services.
Another difference in metrics between radio and digital audio is how they are measured. While both delivery methods are highly effective for advertisers, digital audio is more granular and definitive. For instance, while you may know the predominant target audience for a particular radio station, you know statistically that they hear the ads played during each segment. Digital audio, in contrast, measures the ad listen only when someone is online and streaming.
Streaming Audio Metrics
The major platforms in digital audio understand the criticality of metrics. Platforms like Spotify and Apple Music make their streaming metrics available to audio creators. While you can use many types of streaming metrics, the most common are those that give information about who is listening and how often they stream the audio, such as:
• Audience demographics – Businesses want to understand more about the listeners so they can more accurately target the audience for their ads. Demographics could include listening location, age, gender identification, and listener preferences.
• Streams over time – This number adds the total number of streams for a specific time period. For example, a stream is any listen of 30 seconds or more on Spotify.
• Unique listeners – Unique listeners could also be called unique browsers. A browser cookie counts browser access to a digital stream as a unique listener. That means ten unique listeners may indicate five individuals streamed over two different browsers.
• Followers or subscribers – Unlike periodic or casual listeners, followers or subscribers indicate the most dedicated and engaged audiences for any particular stream or artist.
Gain Better Insight Into Your Audience
Both radio and digital audio metrics offer valuable insight into your audience, letting you know more about core listeners and online-only listeners. Each platform reaches a broad audience of targeted listeners when and where they spend their time. The more options a listener has to access the programming, the greater the advertising business’s reach.
Broadcast radio is free, easily accessible, and popular during typical commute times for in-car listening. It is also readily available in listeners’ homes. Digital audio allows people to access their favorite programming, where it may be more challenging to access terrestrial radio, such as when walking outdoors, commuting on public transit, or working in an office. By utilizing both methods, businesses have more chances to reach their intended audiences.
Both platforms give advertisers insight into their audiences. Radio ad efficacy is measured through specific codes, phone numbers, or website visits within a recent ad play. That can also show how many listeners respond at different times.
Make Your Audio Ads More Effective With Analytics
Radio and digital audio streaming are both incredibly popular methods of listening. They offer numerous benefits for listeners and advertisers alike. Listeners have choices in how and when they access the audio content. For businesses, each platform provides ways to learn about their listening audience and ad efficacy.
Advertisers who understand how to leverage the numerous available metrics to their advantage gain a competitive advantage. When you are ready to learn more about which metrics are most important for your campaign, consider choosing a media partner. They have the expertise, experience, and technology to help you make the most of interpreting your analytics.
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