Ravi Shharma from Gaana sheds mild on the audio promoting panorama in India, altering shopper habits and what it means for manufacturers and entrepreneurs.
In a hearth chat, Ravi Okay Sharma, Vice President – Gross sales, Gaana, shares some invigorating insights on the evolving audio stream trade at AliveNow presents SAMMIE Greatest Social Media Manufacturers and Summit 2020-21..
Rising Consumption Developments & Patterns
The pandemic noticed extra of the Indian customers spending time on the audio streaming platforms. With 300 million+ energetic customers throughout these channels, Shharma shares that Indians love their music and this can solely result in a rise within the variety of the customers to nearly double, by the following 12 months.
Earlier, content material consumption occurred whereas the client was in-transit. Owing to the circumstances, extra folks stayed indoors. Throughout these instances, Shharma highlights, “We noticed a peak in consumption from 2 PM to 4 PM after which late at night time round 10 PM to 2 AM.”
Additional, consumption developments and patterns embody:
- Not simply people however households accessing audio content material
- Enhance in demand for motivational content material and devotional content material with the rise in demand for long-format non-music content material. This additionally included newer reveals and unique content material.
- The resurgence of Indie music with extra impartial artists launching their music throughout lockdown days
- Enhance in podcast consumption for vernacular content material even in Tier II and III cities for Bhojpuri, Kannada, Tamil, Bengali, and extra languages.
“For our podcasts, near 40% of the streams come from the vernacular content material for our podcast content material and 20% from music”, Shharma highlights.
Manufacturers X Audio Promoting
When requested about full-funnel advertising and marketing for manufacturers and the position of audio streaming platforms within the context, Shharma shares that the platforms will be leveraged for consciousness with impactful outcomes. Even for the underside of the funnel, he shares that the metrics are altering, significantly and the medium is working fairly effectively.
At a time when shoppers could be spoilt for selections, catching the patron in the best state of mind is essential, he explains.
Additional, music patterns have a tendency to alter as per moods, in lots of circumstances. Throughout such a interval, how do manufacturers leverage these sentiments and get into shoppers’ minds and moments, in-line with the instruments and alternatives offered by the audio platforms, is one thing that must be seemed into?
Citing some related model examples, Shharma factors at campaigns when Gaane collaborated with Swiggy and Pizza Hut. Loads of such campaigns leveraged dynamic and sensible advertisements for optimum outcomes. One other instance, he shares is of the podcast collection by Neha Dhupia on Jio Saavn that labored effectively.
Additionally learn: SAMMIE BSMB Summit 2020-21 Agenda: Live Sessions to Watch Out for
Audio Streaming for Advertisers
Because the medium continues to work effectively for manufacturers, the flexibility and the number of advert sharing choices obtainable on the audio streaming platforms is without doubt one of the key benefits for advertisers together with the 100% share-of-voice for the advertisements.
“Audio consumption is a customized expertise. With audio, manufacturers get an immersive surroundings together with the protection and transparency, and 100% share of voice.”
He additional states that the varieties of advert models obtainable on audio streaming platforms equivalent to dynamic audio advertisements (sensible advertisements for creators), acceptance on voice-activated advertisements, and engagement achieved on the advert, are a number of the attributes that the entrepreneurs can faucet on to, leveraging these platforms.
Audio Commercial: Challenges
One of many main challenges confronted by manufacturers is altering the mindset of the Indian viewers, which is perceived to be pushed extra in the direction of video and OTT. Whereas that could be true, Shharma shares, the advert outcomes, and information level that audio streaming platforms have the power to supply the attain and scalability for the manufacturers.
One other roadblock is that manufacturers don’t have a artistic technique for the medium. To them, audio advertisements are one other type of radio adverts.
Shharma recommends manufacturers to begin growing an audio technique as effectively, to make the most of audio advertisements whereas experimenting extra with the medium.
To Sum it Up
Shharma encapsulates the dialog with the next key factors:
- Don’t take a look at audio as simply one other radio. It’s a really sizeable trade with a large scale so that you can make the most of.
- It’s a extremely immersive and customized medium
- Negligible advert avoidance
- 100% model secure with a share-of-voice
- Inventive technique, information factors, and attention-grabbing narratives are some elements that may be leveraged on the platforms.
Lengthy-format content material, podcast, innovation, and Dwell occasions current attention-grabbing alternatives for the medium, he concludes.