Do you want to create and manage a Spotify ad campaign for your small business? With the new self-serve advertising platform called Spotify Ad Studio, you can. Described by the company as the industry’s first self-serve audio platform, you now have access to a powerful tool to reach potential new customers.
Spotify Ad Studio was just launched in the US in beta mode. The tools in Ad Studio let you create and manage audio campaigns, with budgets the company says small businesses can afford.
The big question for a small business is, will an audio ad have any impact in today’s video-centric world? According to a 2017 Nielsen Media Lab study, Spotify cites audio ads had 24 percent lift compared to display ads. What this means is, with the right platform, such as Spotify, your audio ad spend will go further to engage with your customers.
Khurrum Malik, Spotify’s global director of monetization product marketing, said in the realease, Spotify Ad Studio is a, “Full-scale advertising platform that allows advertisers to create, target, optimize and measure media that drives business outcomes.”
How Does a Small Business Capitalize With the Tools Spotify Ad Studio Provides?
It starts by giving you access to 140 million daily free ad-supported and paid subscribers who listen to more than two hours of streaming content a day. But more importantly, you can truly target your audience. You can choose age, gender, location, activity, and music taste on mobile and desktop platforms.
This also applies to small advertisers, marketers, musicians, and other businesses looking to engage the millions of daily listeners.
Creating the Ad
Audio ads can be created in minutes according to Spotify. All you have to do is share your script and pick a background track, and Spotify Ad Studio will create a fully-produced ad. You then review it and complete it with a recorded voiceover. If you have your own audio ad, you just upload it and you are done.
The ads are delivered in 15- or 30-second messages happening between break songs during listening sessions.
Spotify says the cost will depend on the targets you select for a particular campaign. You can start building a campaign with a minimum budget of $250 and grow as needed by customizing and targeting selections.
Sign-up on the Spotify Ad Studio site and follow the audio guidelines in the how-to guide.
SMBs have a ton of potential to reach large audiences (and very focused audiences) while looking like a big company. These types of offerings are a great opportunity.
I also see the targeted focus as a great opportunity for small businesses. This type of marketing data was only available to large enterprises not that long ago.
Although Spotify is quite popular, you’ll find that it is not making a lot of money if you will look at its financials. With this, it is important that they explore new avenues on where they can make money.