10/09/2024 | Press release | Distributed by Public on 10/09/2024 12:21
At Audacy, we've always believed in the power of Audio to create deep connections between brands and listeners. Podcasts, in particular, have emerged as an innovative space where brands can cut through the noise and truly engage with their audience. And when Lexus recently approached us with a unique opportunity, we knew that podcasts would be the perfect solution.
During this year's annual Podcast Movement, our very own Kevin Greenwald, SVP, Advertising and Audience Products sat down with Nielsen's Arica McKinnon, VP, Commercial Strategy & Insights to discuss the powerful impact of podcast advertising, and Lexus' recent Audacy Podcasts success story.
In today's media landscape, consumers are bombarded with ads from every direction. But podcasts offer something different-an uncluttered and immersive environment where ads feel like a natural extension of the content. Nielsen research shows that 63% of consumers believe podcast ads strike the right balance, compared to just 29% for TV ads.
It's no wonder that podcast listeners are more engaged and more likely to act on what they hear. After hearing a podcast ad, nearly half of listeners visit a website for more information, and over a quarter go on to purchase the advertised product.
48%
visited the website for more information about the product advertised
More than 1 in 4
purchased the advertised product
Source: Nielsen Scarborough, Podcast Recontact Study (Listeners only) 2023 Release 2 Total (May 2024).
CASE STUDY
Lexus came to us with a clear objective: they wanted to elevate brand perception for their new electric vehicle (EV) lineup. The challenge? Luxury vehicles require a significant amount of top-funnel nurturing to convert interest into sales. Traditional channels like TV and digital display ads are often expensive and crowded with competitors. Lexus needed a solution that would provide the broad reach of awareness-building efforts without sacrificing the personalized touch that's so crucial for high-consideration purchases like luxury cars.
We worked closely with Lexus to design a podcast advertising campaign that would resonate with their target audience. Here's how we did it:
Lexus saw impressive results from their podcast campaign:
Outperforming industry norms: The campaign didn't just meet expectations; it exceeded them. Lexus's ads on Audacy Podcasts outperformed Nielsen benchmarks, delivering high scores across all brand metrics.
With such an engaged audience tuning in, podcast ads excel at boosting upper funnel metrics like recall and awareness, which drive conversions and sales. By advertising on Audacy's platform, Lexus's EV campaign yielded significant lifts across all tested brand metrics and attributes, particularly in familiarity and favorability, effectively nurturing consumers along the path to purchase.
The Lexus success story highlights several important lessons for any brand considering podcast advertising:
At Audacy, we're excited about the future of podcast advertising and the opportunities it presents for brands across industries.