Digital audio advertising is of significant impact as it is expected to reach $5.98bn in 2021, according to Statista. Here, Head of SmartHub, Roman Vrublivskyi, looks at the hottest digital advertising formats right now, and explains why advertisers should invest in will also get to know why it`s beneficial to invest in audio, in-app video and CTV ads.
The significance of audio ads
The exponential rise and success of podcasts and audiobooks reflect how much people prefer listening to reading material. Audio ads capability is available in our platform for SmartHub clients, so they can effectively trade and boost their marketplace with new opportunities. Therefore, for marketing campaigns to reach an even broader target audience, audio ads represent an up-and-coming marketing model that promises profitable results. Here’s why…
1. The power of voice
Vocalizing adds a new perspective to your advertisement portfolio, and that's one thing that SmartHub has implemented over the past few years. People are more likely to remember something they heard in passing than they saw by chance. With audio ads, you can create a strategy that captures the attention of your target audience and stays catchy enough for people to do some additional research about the product.
2. Taking advantage of the streaming boom
For the past decade, experts have claimed that streaming platforms are the future of communication, art, cinema, and a host of other entertainment portfolios. Today, audio ads have proven to be a hit amongst the new generation that is more in tune with streaming than other media platforms. You can effortlessly slot audio ads into podcasts, jingles, pitches, and a host of other similar choices.
3. There is an unlimited target audience
For so long, advertisers have been concerned with captivating target audiences, holding on to their attention span, and making the most of it. However, the world is evolving, the internet has taken over, and target audiences have never been more versatile.
According to Marketing News, by 2025, digital audio ads will have been listened to by 230.8m Americans monthly, accounting for 67.1 per cent of the total population.
Why in-app video is trending
According to Statista, the number of smartphone users worldwide will increase to 4.3 billion by 2023. If previously only niche brands benefited from advertising in mobile games (that had an audience mostly represented by teens and children), these days people across all age ranges have become gamers – so the opportunities for in-app advertising have surged.
In-stream and out-of-stream ads are classic types of video advertising typically placed in video content. Among their advantages is the accuracy of targeting, the low cost of producing creatives, and customization opportunities.
However, there is a wide variety of in-app formats such as playable and rewarded videos. These formats can be used in mobile games and the rest of the app types alike. Playable ad gives the user an opportunity to try and test the new app (as a part of advertising experience) and then install the app by following the link in the ad. Rewarded video, meanwhile, is a good format for games as it gives the opportunity for the user to get in-game bonuses and incentives in exchange for watching the video ad.
CTV the next big thing
Advertising on Connected TV is enabled by various internet-connected devices, including Smart TVs and game consoles. Advertising on Smart TVs makes the ads immersive and memorable. Additionally, the TVs is normally watched with friends or families which, in turn, means that the ad will be seen by more people (when compared to ads seen on personal devices). So in the long run, the impression cost for advertisers will actually be cheaper, even if initially, impressions on CTV may appear more expensive than, say, on mobile.
During lockdown, streaming content grew even more popular, as people started spending most time indoors. The revenues of such over-the-top video subscription services like YouTube TV and Hulu + With TV jumped up high as a result, reaching $119.69bn in 2021. As people clung to their screens, brands started to invest more budgets into CTV ads – according to Statista, Connected TV programmatic display ad spend grew to $6.93bn in 2021, up from $4.53bn in 2020. In 2022 it will hit $8.88bn.
As this medium is still evolving, the new interactive ad units are constantly being tested – e.g actionable and shoppable videos, creative expansion, dynamic overlays, and so on.
What does all this mean for SmartHub clients?
1. The popularity of audio ads is booming, and it will only get better as time progresses. Streaming platforms are getting more sophisticated by the day.
2. Opening media-trading with audio ads on SmartHub White Label Ad Exchange is as easy as it comes, and you'll benefit from using the optimized interface that makes hard work enjoyable.
3. SmartHub operates on a first-come, first-served basis. Therefore, demand partners have the chance to buy audio traffic from suppliers, enabling them to reach a broad audience as the days go by. Now, audio ads capability is available in our platform for SmartHub clients, so they can effectively trade and boost their marketplace with new opportunities.
SmartHub also supports CTV and mobile app traffic types. Other ad formats that you can select and serve are banner, native, pop-up, video, push. With such an abundance of ad serving options, you can configure the media-trading to your tastes and grow your marketplace more profitably with the hottest ad formats.