Stay in this business long enough and you will see the old become new again.
The concept of the marketing funnel is back in full force, and instead of ad agencies fighting over theory, Audacy has cleverly produced a report that shows them how voice is performing at all levels of the funnel.
The "suppression" theory is generally attributed to E. Elmo Lewis, who argued in 1889 that consumers move from awareness to attention to desire to action. Strangely, radio/audio has recently been positioned by major agencies as a medium that only works at the "top of the funnel."
In their report "The State of Audio: Feeding the Funnel," Audacy challenges this proposition by providing examples of how radio/audio works at all levels. (Unfortunately, once the doctrine has caught on with ad agencies, especially new buyers, it's better to show your broker how the system works, rather than debate the merits of current marketing theory . )
The sound status shows the sound efficiency. It's important to address this issue because, according to Forrester, 61% of advertisers want to improve what they call their "multichannel media spend" and say it's a "high or critical priority in the next 12 months." If ad buyers don't believe sound can drive consumers through the channel, the medium will suffer.
Also, in this show, the industry is getting a major label update that targets today's media buyers.
“Audio holds the title of the undisputed leader of brand-building channels, working its magic with massive reach and likeable, trustworthy personalities,” according to Paul Suchman, Audacy's chief marketing officer.
"But if you think audio is just a great game, good for starting a conversation but not increasing conversion, think again. The truth is, gaming has expanded in recent years and audio is now a really platform. versatile".
With precise targeting, real influencers followed by listeners across all channels, and advanced metrics, he said, "marketers unlock the best-kept secret in media: the power of voice to influence every stage of the funnel."
I love the way Paul puts the characters on the air as influential people, and it's true. I've said this many times because it's the idiom of the day and is understood by the young buyers who make hundreds of millions of spending decisions.
Three ways to get to the top of the funnel:
- The radio is an accessible machine. Audacy notes that sound reaches 95% of the US population.
- Use the story in the call to action – This is a great way to rephrase ads in the advertising community. Study encourages "intimate campaigns."
- Broadcasting works on a large scale with addressable messages. Buyers listen to a lot of podcasts and listen to talent doing live trade readings. They intuitively know that it works.
Key mid-stream relationships include accuracy, frequency, entertainment, and trust segmentation. Finally, the lower funnel discussion focuses on the fact that voice is a true companion that travels with the consumer throughout the day, driving retention and delivering specific KPIs.
It wouldn't take much to make the case for audio, and even if you're convinced the funnel theory doesn't hold up, the presentation is an education for anyone who understands the need for radio placement in ad agencies. update. .
You can download it from here.
[Read more columns by Mark Lapidus]
