Audio may prove itself as an influential performance media if it can directly attribute the message to the results, such as a purchase or the download of content like a digital song.
I suggest this because 53% of participants in a study conducted by Magid for iHeartMedia, and PMX, the investment arm of Publicis Media, said they find radio and podcast advertisements to be more relevant than on any other medium.
Some 5% of participants said they listen to commercials more often on radio and in podcasts than through any other medium, and 51% percent said they are more likely to trust radio and podcast advertisers than advertisers on any other medium.
Not surprisingly, Chris Yarusso, national audio practice lead at PMX, believes audio influencers have emerged as a new avenue for advertisers to continue to connect with audiences in authentic ways.
Insider Intelligence forecasts that podcast ad revenue will surpass $2 billion by 2023. And 61% of paid streaming audio subscribers plan to increase their podcast consumption during the next 12 months, a recent Nielsen survey found.
The study, Exploring The Brand Benefits of Trust and Companionship in Audio, combines quantitative and qualitative methods to highlight the role that different audio channels play in the lives of audiences when it comes to trust and companionship.
The qualitative online survey from iHeartMedia and PMX was conducted in two phases, with a sample size of more than 1,200 respondents drawn from a nationally representative online panel — an even mix of men and women ages 18 to 60, and diversity in terms of region and market size, income, ethnicity, and life stage.
Listeners of radio, podcasts, and music streamers were people ages 18 to 64 who listen to at least 1 hour of audio monthly and use social media.
According to the research, radio hosts rank high when it comes to their perceived authenticity and connections to the communities they serve.
Podcast hosts are perceived to be highly honest and trustworthy.
When comparing radio versus streaming music services in nine consumer categories including restaurants, retail, automobiles and more, consumers who purchased a product were more likely to buy from an audio advertisement in every category, according to the data.
Radio listeners are 129% more likely than listeners of other audio platforms to say they listen “to be entertained,” and podcast listeners are 158% more likely than listeners of other audio platforms to say they listen “to immerse myself.”