Tech is at an inflection point where it’s balancing betterment and competition. How do we make technology private, equal and sustainable without tamping down advancement, adoption and competition in all key verticals of consumer electronics, b-to-b, health, retail, education and beyond? And as marketers and advertisers, what does that mean for the consumers, listeners and the universe we engage?
Here are three key areas of growth for audio advertising in 2022 that impact the tech industry.
Climbing U.S. retail spending equals opportunity
U.S. consumers will spend $505 billion in retail sales revenue in 2022. That’s 2.8% over 2021’s finish in a turbulent market considering the worldwide pandemic, worker and semiconductor chip shortage, and inflation continuing early this year.
Audio will help companies build and hold brand consideration, retain trust, create awareness when there is stock and move products. Think full-funnel marketing to an emerging consumer group of people ages 13-24 who are digitally native.
Gen Z as a priority audience
Gen Z has made a splash as a vastly different consumer group. They are digitally native and cause-oriented, and they understand the power of their voice and wallet. Gen Z is multi-racial and multicultural, 53% compared to 13% of Gen X, and has projected $143 billion in spending power.
Tech companies know this, too. Gen Z can see inauthentic marketing a mile away; so, if messaging is off, they won’t engage. That said, 80% of Gen Zers stream digital audio, which means that can be a good space to reach them with relevant messaging.
Podcasts are personal
Podcast listening has grown 200% in the last five years. When I say that tech is at an inflection point where it’s balancing betterment and competition, podcasts are the prime example.
Those who want to learn more about a company, viewpoint, the science behind something or anything really will find their “thing” on a podcast. So it makes sense to reach out to this engaged audience: 43 out of 50 Stitcher/Midroll listeners (86%) say that they have taken action due to a podcast ad. Audio is a trusted medium, and podcasts double down on that.
Audio, be it podcasts or music, resonates and builds trust in a way that other media—traditional, social or digital—does not. Consumers are looking for a connection that only audio can provide. Tech needs that human connection more than ever, and the opportunity to build it is through audio.
By Casey Hough – SXM MEDIA