It must be inaccessible” Aussie agencies are buying into the concept of digital audio advertisements.

The IAB’s Australian Audio State of the Nation Report indicates that 91 per cent of agencies have utilized audio advertisements this year, and streaming audio is being used as a major or regular component campaign for 83% of companies.

The report, showcased at the IAB Audio Summit in Sydney on Wednesday afternoon, emphasized the “highest potential” for growth in the audio industry.

Some of them were advanced personalization and targeting, as well as standardizing methods for measuring the impact of incremental reach, attribution and cross-platform performance, which improves the supply of programmatic content, as well as the application of AI for content and the creation of ads. Sixty-one per cent of people intend to increase their investments in streaming audio in the next 12 months, with 64% of respondents planning to promote more frequently on podcasts.

Building brand awareness is the main purpose of campaigns for media agencies that use audio-based digital advertising. 87% of their clients use streaming audio, and 80% of them use podcasts to promote brand recognition.

Incredibly, audio isn’t often employed to boost sales or conversions. Only 33% of people say they’ve used streaming to increase sales as a method of increasing sales, while only 30% expect a rise in sales through podcast ads.

Targeting and data are the most important reasons behind purchasing digital audio ads programmatically, and price is the second major factor. The genres of lifestyle and entertainment podcasts were the most listened-to type of content for advertisers from agencies.

Engagement and attention of the audience were deemed to be the primary drivers behind investment in audio, then the incremental reach and the ability to work with other forms of media.

This last point is a reference towards Mark Ritson’s study in which he said that spending only 11 percent of your marketing budget on radio could increase the impact of a campaign.

“A small amount of radio makes everything else work better,” Ritson stated to Mumbrella.

“People are buying digital advertising advertising in combination with other digital display formats, in combination with broadcast radio advertising”, Natalie Stanbury, director of research at IAB Australia, told the audience in the afternoon, that the practice is likely to rise this year.

“There’s an awful lot to love about digital audio advertising,” said Ralph van Dijk, founder of Eardrum.

“Targeting, engagement, listen loyalty, attribution as well, as if you’re using promo codes – yet, some brands have been very reluctant to use audio, or explore streaming podcast advertising, because of a lack of confidence in the creative.”

Van Dijk has been writing and producing award-winning ads for over 30 years.

“We believe that there isn’t a product or a category that can’t exist in compelling audio,” said the author. continued.

“But it doesn’t have to be convincing. It should be incomparably compelling. We’re facing that knee-jerk reaction to being able to leave anything that does not attract us or isn’t appealing to us.”

Gai Le Roy, Director of IAB Australia, said: “Over the past 12 months, the use of digital audio and podcasting is among the fastest-growing segments within the online advertising market, and the results of the most recent Audio Advertising State of the Nation Report suggest that this trend will continue into 2024.

“With buyers appreciating the complementary nature of audio with other digital opportunities, we are likely to see digital being increasingly included in omnichannel campaigns and welcoming a range of new advertisers to the power of audio advertising.”

Richard Palmer, director of marketing development at Triton Digital, notes that the majority of advertisers are “consistently considering digital audio advertising to reach highly engaged audiences.”

The report comes just two days following Monday’s IAB Digital Advertising Spending Reportwhich discovered that the revenue from digital audio was $265.8m in 2023.


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