As sales in digital audio continue to rise, how can brands take full advantage of the ‘digital’ in digital audio? In collaboration with SXM Media and MAGNA Media Trials, a new study titled “Matched Audiences for Unmatched Audio Performance: Reaching the Right People Through Digital Audio,” seeks to uncover this question. The report explores the significance of using advanced data to connect with digital audio listeners amid the rising trends in digital audio sales.
The study tested digital audio ads across various audience segments, including demographic and matched audiences derived from 1st party and 3rd party data. It also assessed two distinct types of digital audio ad formats: general market ads aimed at broad audiences and tailored ads designed for matched audiences.
Key findings of the media trial include:
- When compared to demographics alone, both 1st and 3rd party data outperform. Aided ad recall shows a significant increase, with +52% point rise for a 1st party audience, a +41% point rise for a 3rd party audience, vs. a +34% point improvement for the demographic audience.
- Matched audiences drive more than 3x greater impact on purchase intent among those new to category. The 3rd party matched audience shows a +19% point increase in purchase intent, while the demographic audience leads to a +6% point improvement in purchase intent.
- Matched audiences are more cost-efficient at driving purchase intent, with $0.25 cost per person for a demographic audience and $0.09 for 3rd party audiences in a matched audience setting.
- Ads customized to matched audiences are most effective in influencing people in the discovery phase of their purchase journey. The customized matched audience ad increased brand favorability by +13% points, whereas the general ad only increased brand favorability by +1% point (exposed – control). Similarly, for users who found the brand exciting, the customized matched audience ad resulted in a +17% point delta, while the general market ad showed a +5% point delta.