Seth Godin has once said that content is the only marketing that’s left. You and I would agree with the statement as it’s really the new way that a business, in the future, would differentiate itself in a very crazy and noisy marketplace.
But, what is up with audio marketing evolution and the rebound of the podcast industry and radio as well. Has the evolution of digital audio marketing led to more opportunities for marketers?
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Looking at the past, one can say that the leading example of audio advertising has been radio advertising. With the advent of audition books, podcasts, etc., businesses have listened to the evolving needs of consumers and embraced different channels to adopt audio marketing.
And, as people become more acquainted with the various mediums by which they access audio content, its prominence in passive listening takes a more important place in people’s lives.
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Podcast Predictions for Growth
Where is podcasting space headed in 2021 and beyond?
Look for yourself in the below statistics:
A study from eMarketer predicted that in 2021, Podcast ad spending would finally surpass the $1 billion mark in the US, with no ceiling insight in the coming years.
Is Podcasting Right for Your Business?
As a part of audio marketing evolution, the podcasting space is a fabulous way to establish your thought leadership and a new way to reach your target audience. People are increasingly interested in podcasts because it is a convenient way to learn new things with little effort.
Thus, it makes sense for businesses to tap into audio marketing space involving podcasting, Spotify, Clubhouse, and many more options.
Here are few reasons to place a lid over your concerns about whether or not to begin podcasting:
1. Audio Marketing is on the Rise
With apps like Clubhouse, Spotify, and the new Twitter Spaces quickly gaining more and more popularity, it is imperative that consumers are rapidly turning to the audio content space and embracing the chimes of audio marketing evolution; podcasting is no exception.
Early adopters will be the most likely to benefit from the advent of audio marketing mini-renaissance! Even if you don’t want to launch your podcast, you can look at famous podcasts in your niche and inquire about appearing as a guest or advertising!
2. Increased Loyal Following
Releasing regular podcast episodes lets you reach a wider audience and ultimately encourages a solid and loyal listenership. And, to be specific, businesses need loyal customers more than new ones.
3. Boost Traffic Generation
Podcasting enables you to reach out to new audiences by increasing familiarity with your brand or business for them. Listeners usually subscribe to a podcast they enjoy so that they can listen to it on a regular basis.
The more you’re consistent with podcasting activity, the more your audience is likely to continue listening and come back to you.
The positive repercussion of this is that your loyal audience might then recommend your podcast to others. As a result, it broadens your scope and will ultimately boost traffic and pave a path of quick lead generation.
The Hot New Social Audio: Clubhouse
What is Clubhouse?
Clubhouse is a new entrant in the social media networking space and the primary driver of audio marketing evolution.
As an invite-only audio-based social media app, it lets people from around the globe come together in chat rooms to discuss, listen, and learn from each other in real-time. It is a compelling new platform for brand ambassadors and creators as it offers them new space for thought leadership, networking with the target audience, and finding industry insights.
Clubhouse was created by Paul Davison and Rohan Seth of Alpha Exploration Co., and since its launch, it has been growing at a remarkable pace.
How Clubhouse Works?
Clubhouse is an audio-based app where users can hop into different chat rooms to participate in discussing various topics. These chat rooms are audio-only and disappear forever once the chat is over.
One of the amazing aspects of this app is that you don’t have to look at your phone when you are using it, unlike most social media applications, like Twitter, Instagram, or Facebook. You can listen to the discussions just like a call and do other things as well while you’re in a room, particularly if you’re a listener, not a speaker.
When you open the app, the chat rooms showing up for you would depend on the list of people you follow, which means the first few rooms you’ll see are where those people are currently listening or hosting a chat.
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However, when you scroll further down your app screen, more chat rooms would be revealed that are personalized for you by an algorithm based on the kind of rooms in which you previously took part. There is also a comprehensive calendar available in the app showing all the rooms planned for the day.
Clubhouse Reaches Unicorn Status
Yes, you read it right!
The clubhouse has now reached the status of a privately held Unicorn startup. It recently closed Series C round of funding, skyrocketing the valuation of this social media app to $4 billion.
Why Users are Flocking to Clubhouse?
Just a year-old audio-based app, Clubhouse, had shown enormous growth in terms of popularity and usage. Clubhouse, now a popular social networking app, was launched in April 2020. Back then, Clubhouse had only 600,000 registered users.
As of December 2020, Clubhouse now has more than 6 million registered users and ranked #5 in the US App Store under the “Social Networking” category and #1 in some other countries.
Very few applications in social media history have seen this explosion of its user base so quickly.
That leads to the question of why users are flocking to the Clubhouse app?
Indeed various largely dominated social media platforms like Facebook, Twitter, Youtube, etc., are available for users.
However, due to Pandemic lockdown measures, users were forced to search for intimate social interaction alternatives. As a result, their focus has shifted to newer, niche platforms and applications that aim to make these types of interactions simpler and more convenient.
Clubhouse is one of those platforms that stirred the social media space with the new revolution in audio-based social networking. Users can host live voice discussions that anyone can listen to if invited, but no one can record the conversation.
Is audio taking over?
Do you think otherwise?
In fact, audio is quietly taking over the digital marketing space, but moreover, it will emerge as an extra medium for marketers looking to expand their reach.
Audio marketing is a versatile medium that provides on-demand on-the-go listening for a busy audience and tapping into the audience space where they actually spend their time.
Audio content can be faster and less expensive to produce than video content. Podcasts can be a perfect way to advertise to your target audience, whether you start your podcast or appear as a guest on someone other podcasts or audio discussions.
Marketers across various industries today should tweak and plan for the future, whatever that looks like in the form of audio marketing evolution.
In the forthcoming phase, they will have to consider audio marketing for different reasons, but at the heart of it all rests on the fact that audio truly touches everything – whether it’s personal, social, interactive, engaging, emotional.