Following Its Success with Huge Brands, Spotify Launched Its Ad Platform for Small and Medium Businesses in September 2017. Spotify Rounds-Up This Epoch and Speaks About ‘What’s Next’ with Their Ad Platform
McDonald’s, Samsung and BMW are some of the biggest names that have benefitted at scale from Spotify’s Ad Platform. Ad Studio, as Spotify likes to call it, was launched for businesses of all sizes in September 2017. From that point till date, thousands of SMBs have leveraged Spotify to connect with the right audience and be heard. Here is a snapshot of the achievements of Spotify’s Ad Studio.
Rapid Platform Growth
This self-service platform picked up in popularity amongst brands due to its effective reach towards influencer streamers and its ability to provide tools to marketers to create refined audio advertisements. Spotify’s constant upgrades to its platform meant brands could further control their entire marketing campaign(s) and engage better and clutter-free with their target audience.
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Marketers Found Value in Digital Audio
Spotify proved that Ad Studio is a brilliant way to break through countless feeds and reach the right audience. For marketers new to the audio format of advertising, Ad Studio was an effective channel to build audio advertisements from scratch. Ad Studio got its deserved word-of-mouth publicity and spread rapidly in countries such as the UK, Canada, and Australia.
Empowering Emotions Again
Time and again, researchers have pointed out that the success of commercial campaigns is directly proportionate to the emotional quotient that an advertisement delivers. Most marketers ignore this and drive campaigns around numbers, logic or utility. Spotify knew the power of the infusion of emotional creative in marketing campaigns. Hence, it enabled marketers to engage 1-1 with listeners to provide contextual and meaningful content via their advertisements.
What’s next in Ad Studio?
The platform is already becoming a core part of the marketing function. Industries of all sorts are latching onto Ad Studio to build their campaigns — more so, experiment with the audio format of advertising.
Dave Bostelman, Account Director at The M Agency, Australia, said, “Spotify is the most contextually relevant environment for the promotion of concerts and content because people are already in the mindset of engaging with music, so we know they’ll likely have some willingness to engage with these sorts of ads. And we can use [Spotify’s] first-party data to predict who we think will be even more likely to be interested, through fan, genre, and playlist targeting.”
Spotify understands that today’s marketers are in a tight spot to deliver on business expectation. Hence, Spotify wants to make campaign building easier than ever for the marketing community and help them reach better audiences and measure their campaigns. In the coming months, Spotify will be making additional changes to Ad Studio so that marketers can reach more qualified leads spread across a larger demographical area. The company will leverage intent-based segments and first-party behavioral data for the same. The company also announced that it will launch the ‘Audience Upload Feature,’ but did not reveal too many details.
What Does It Mean for Marketers?
For B2B marketers, this is the writing on the wall. Display technology is exploding with back-to-back innovations in the video tech landscape. With a plethora of technologies available for display advertisements, marketers are open to experimenting. The result — dropping numbers in user sentiment and decreasing brand loyalty.
Considering that a brand as big as Spotify has made it big as an advertising platform in the ‘screenless’ marketing landscape, it’s high time marketers pay heed and diversify their campaign towards both — audio and video.