Over the past couple of years, there has been a huge increase in the consumption of audio content, especially by Gen Z and Millennials across the world. India is no exception to this trend, as as a nation India’s strength lies in the culture of storytelling and listening, especially for the under 24 age group.
To dig deeper into the topic, Arjun Kolady, Sales Manager, India, Spotify participated in a special “Why Audio Matters More Than Ever To Marketers” session at ETBrandEquity, com’s recent iStream conference. He shared some really intriguing details about the growing trend in audio consumption and how the medium is about to be a game-changer for marketers in the coming days.
Kolady highlighted some of the main lessons from Spotify’s Global Trends Report, namely the ‘Culture Next Report’, which focuses specifically on Gen Z and the Millennial audience. “79% think audio heals , 77% agree that audio reduces their stress levels. And, almost 60% think audio is much healthier than just scrolling through all the visual content we see all the time, ”Kolady shared in the report.
It is said that due to the progressive worry of anxiety, mental health and well-being, audio is becoming more and more important in people’s lives as they feel like they are passing too much screen time.
For a marketer who is focused on Gen Z and a younger audience, streaming audio, audio is the greatest way to reach its target audience – far more than normal radio, audio and television can do together.
The audience has a plethora of screens surrounding them – mobile, laptop, television, game console, etc. And due to the explosion of screens, internet access and data, content consumption has increased dramatically. Consumer attention and time lag has happened very quickly, and like other markets, Indian players are also aggressively investing in streaming video. With the proliferation of video streaming options, the proportion of media and ad spend to consumers’ time spent on video is actually overstated. This means that these platforms are getting more and more crowded and the user experience is also cluttered. “This model decodes that for decades we marketers have been completely focused on using video as the primary method of communication. It has exploded again recently, ”Kolady added. Whereas, if we were to compare this situation to where we are in audio, the landscape has changed dramatically. The audience has the option to connect to the audio, as it accompanies everyone in their daily life, wherever they go. When it comes to travel, infotainment is another medium that is seeing many improvements for an ultimate user experience. Kolady added, “There is so much innovation and disruption in automotive infotainment with the help of CarPlay, Android Auto, etc. “
Building on the audio streaming opportunities in India, Kolady estimated that people stream around 21.5 hours of video content each week, or nearly three hours a day. “So if you compare that to the cluttered, cluttered video ecosystem, where everyone is trying to grab attention in a very limited amount of time, audio players have the whole day ahead of them. ”
Kolady further pointed out that almost 82% of listening is done through headphones, which is why the ability of audio to tell a story and make a direct emotional connection at the literal level with consumers is huge. and unprecedented. Therefore, there is a huge opportunity for marketers with audio that they need to harness effectively.
To sum up, a key part of the discussion was that audio is probably the most effective medium that marketers could miss today, especially if they are focusing on the Gen Z audience. an increasingly fragmented and cluttered media environment, where people try to get away from screens and focus on their own well-being and healthier media consumption.
There are immense possibilities for personalized content curation and high memorization and brand awareness through conversion funnels using audio and multi-format on audio platforms. In addition, there are also great ways to measure actual business results with the advent of digital audio streaming. Against this background, Kolady concluded by saying, “If digital audio hasn’t been part of what marketers have thought or executed until now, there’s no better time than now. The whole world of audio is exploding and we are entering its golden age. Therefore, I would encourage all marketers to seriously think about and explore this new medium.
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