Audacy's Sergei Peysakhov on Making the Most Impact From Your Audio Strategy

quotAudacy is a scaled multiplatform audio content and entertainment companyquot Peysakhov explained noting that the company has existed for over 50 years as a pioneer in broadcast radio About three and a half years ago Entercom and CBS Radio merged A few months ago that merged company was renamed Audacy which consists of all facets of their audio business quotincluding our B2B media company and B2C brandsquot he addedTotal Audio Amplifies StudyAudacy39s Total Audio study was designed to offer advertisers insights into how to best meet their marketing goals by examining the synergies between audio formats The study examined the dynamics of digital audio and overtheair radio when advertising messages are run on both platforms quotDo they work better together Is there any sort of synergy to running digital and traditional radioquot Peysakhov asked These are important questionsquotA lot of times advertisers tend to fall into one of two bucketsquot he continued quotThey may have been on the radio for many years and love it But they might be unsure about digital audio because it feels different Then there are marketers born in the digital age direct response marketers who love digital but they are unfamiliar with overtheair It39s funny because that distinction is really a marketing distinction It is not a consumer distinctionquot To a consumer it is all audio and very fluid As such there is no reason that these two distinct formats cannot work together to drive a cogent call to actionFor marketers with these clear distinctions it was important to understand the total audience of audio to better understand the optimal mix of audio formats from digital to overtheair to podcasts and everything elseStudy TakeawaysPeysakhov and his team examined those time periods when digital audio advertising was running alongside overtheair advertising and times when digital ran on its own After comparing these two periods across different campaigns Peysakhov says quotWe saw a very clear signal pretty much without exception across all campaigns that the digital audio worked much harder when overtheair was present Digital in itself was converting at a much higher rate driving people to the website or to make a purchasequot when there is also messaging overtheair he revealedThere is considerable data available to help form insights According to Peysakhov the study used digital attribution that included pixelbased traffic and conversion measurement The tags are also able to pick up Order ID and purchase amount to help with ROI calculationsThe conclusions were impressive quotWhat we saw was the amount of traffic the total amount of visitation to the site after exposure to an ad doubled when overtheair was present and lower funnel conversion was about fifty percent strongerquot he revealed demonstrating the stronger synergies to spur a calltoaction when both formats are used simultaneouslyquotOne of the biggest surprises was how consistent the impact wasquot Peysakhov added quotIt was pretty much across the board where any time you had digital advertising running you add that overtheair layer and digital works harder It was universal across industriesquotImpact of the PandemicEven though most media experienced a reset moment during the pandemic one media form didn39t miss a beat Audio especially streaming digital and podcasting continued to offer fresh content to a homebound audience What Peysakhov found was that quotwhile consumption habits of our listeners changed during the pandemic because of less commuting the total consumption of audio just became different The composition became differentquotWe saw a huge spike in smart speaker listenershipquot he continued quotIt was already growing but accelerated sharply post pandemic Radio used to be relegated to the car for many years but with smart speakers we39ve been saying that radio is back in the homequotquotSimilar story in podcasting there was an initial dip in listening but it picked right back upquot he added quotThe backlog of shows filled up and listeners found time for those shows even as their patterns changed I used to listen while I was commuting but now I listen to the shows while I am washing the dishesquotAdvertiser ReactionAs far as advertisers are concerned the reaction to the study results quothas been very positivequot Peysakhov concluded quotIt has led to a lot of conversations that help break down the wall I think that a lot of advertisers mentally bucket those channels separately a digital bucket versus overtheair budget Instead of thinking digital and traditional think audio Audio is an incredibly powerful medium regardless of how it is consumedquotClick the social buttons to share this story with colleagues and friendsThe opinions expressed here are the author39s views and do not necessarily represent the views of MediaVillagecomMyersBizNetamp160

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Audacy's Sergei Peysakhov on Making the Most Impact From Your Audio Strategy

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Charlene Weisler

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