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When it comes to digital radio, Pandora and Spotify may immediately come to mind. But these two services are just a fraction of the total streaming music space. Advertisers looking to incorporate digital audio into their media plans need to educate themselves on the many opportunities available from industry players and the niches they fill.
Carving Out a Niche
Sixty-eight percent of digital audio listening during peak hours takes place on mobile devices. While this isn’t necessarily an unexpected statistic on its own, the sheer number of streaming services being used is rather surprising. In addition to Pandora and Spotify, sites such as Slacker Radio, Radio.com, iHeartRadio, Grooveshark, Rdio, Songza and many others compete for audiophiles’ loyalty.
Just like brands in other crowded categories, these companies strive to find a niche — a way to make each listener’s brand experience a personal story. Songza asks users to choose a mood in order to get a list of recommended stations. Pandora recently rewarded select users with in-person meetings with their favorite artists via its #ThumbMoments campaign. Grooveshark lets users play disc jockey by creating and broadcasting their own stations. Each one has its own unique approach to working with brands.
Providing Precise Targeting
Regardless of their niche, one thing all streaming radio services offer is the same value to marketers and their agencies. Each service customizes how media buyers target consumers — beyond age, location and gender. Buyers know if their target prefers the PGA or the NBA. They know if the listeners are parents, avid concertgoers or small-business owners.
Marketers who want to more effectively reach their consumers — in other words, all marketers — need to evaluate their existing radio plans and determine how to incorporate streaming audio. Those who don’t may be left listening to static.
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