If you have a music streaming business, or just about any business – digital advertisement is a must. While free accounts are one of the best ways to funnel new users, they can be costly. Media Shark can help you cut costs and get the most out of running your digital ads on any music streaming platforms!
For music streaming services, minimizing cost is exceptionally close to maximizing revenue. It can be a trade-off between subscription memberships and advertising revenue.
Companies that flood their free service with ads have to be careful not to limit the user experience. That’s why it’s vital to form an ad strategy with a reputable company like Media Shark.
Luckily for streaming platforms, audio-visual ads make it easy to market your most valuable product – excellent music. Audio-visual advertising also helps you go where your audience already exists.
Audio advertising can be integrated between streaming sessions, while video works in between music videos.
This article will break down elements of digital music streaming ad strategy.
Digital advertisements are increasingly easy to deliver to the right audience. Targeting capabilities that Media Shark specializes in are revolutionary to marketing.
Here are some examples of targeting capabilities that Media Shark uses for ad strategy:
- Monitoring product purchases of specific customers
- Collecting IP addresses
- Monitoring searches for specific keywords
- Geolocation detection
- Competitor customers
- Social media interactions
In a nutshell, targeted advertisement is more efficient. While costs per ad will eventually increase over time, the ROI remains high.
Old-school advertising techniques like television ads or radio advertisements are less efficient. Companies placed an ad in the broadest demographic. The only way they could target specific subsets was to shape the content itself.
Digital advertisement now allows you to shape the content and the audience. No ad is 100 percent efficient. Yet targeted advertising raises the bar.
Here are some of the digital possibilities for targeting potential new listeners.
Instagram is projected to make up more than 30 percent of Facebook’s ad revenue by the end of the year. The targeting capabilities of Instagram make its $1 billion price tag seem cheap.
While on-demand listening rises in popularity, ads race to reach audiences at the same time, Instagram Live is one of the most effective ad markets for streaming platforms. 80 percent of users prefer live content than blogs, and 82 percent prefer it over social posts.
Even more impressive, 45 percent of audiences would pay for a live video from a performer. For streaming platforms, live content is an open market.
More than 100 million people use the live stream section of Instagram every day. Users can engage in real-time with the brand or performer.
The Facebook platform has long since reigned as one of the most popular social networks. Facebook live also boasts a broad audience. More importantly, Facebook live advertisements have a much broader engagement than standard videos.
The main benefit of Facebook is its broad demographic reach. Music streaming businesses can find almost any type of listener for a genre on Facebook. You can filter audiences by interest, geography, and age.
Facebook even allows you to retarget consumers by getting back in touch with them.
But the most exciting feature of Facebook for marketers is ‘Lookalike Audiences.’ Lookalikes are new listeners with similar traits to your existing audience.
YouTube is another fantastic place for businesses to reach their listeners. YouTube is actually the second largest search engine behind Google.
Ads can be placed before, during, and after videos. Like Facebook, you can target specific demographics based on interests and other information.
YouTube is unique because it can serve up related videos and make playlists. Streaming services can place associated videos and artists together. Doing so can bleed audiences into each other.
The more types of music your audience goes to your streaming service for, the more unique you are. Similar to video streaming services, success is based on distinguishing yourself from others.
For young listeners, Snapchat is a goldmine. Users are predominantly aged between 18 and 24. Snapchat offers live solutions, stories, and even AR lenses.
Augmented reality is what makes Snapchat the most unique of these advertising options. AR lets listeners picture themselves as their favorite artist or promote an event with location tags.
While a relatively new player on the market, TikTok has already risen to social network fame. Competing with Facebook’s new Reels, TikTok has big competitors and big ambitions.
Advertising options are still quite limited on TikTok. Yet, TikTok is excellent for building the popularity of artists. Users can make videos and mashups of new songs.
TikTok is also a platform for artists to connect with their followers. While other platforms have become somewhat saturated for organic reach, TikTok is currently in the sweet spot.
Promoting brands and performers on TikTok is easy and fun. The videos are short (similar to Vine), allowing artists to create something viral quickly. Memes, dances, and challenges can ignite fame for young artists.
Methods of Targeting Listeners
Once you’ve set up social accounts to target listeners based on their interests and demographics, it’s time for tactics. Ad strategies are simply a plug and play scenario; you need to come prepared.
Here are seven different ways you can leverage your social presence to grow subscribers.
While we hope you’re enthusiastic about starting marketing your streaming artists, preparation is critical. Don’t jump onto a live stream unprepared.
Make sure you have a plan for performances, Q&A’s, or other audience interactions. It might help to try to think about possible questions or entertaining activities beforehand.
Most people are not practiced enough to create captivating performances on the spot. This is where many campaigns can fall through.
A perfectly crafted marketing copy attracted your audience. And a poorly scripted performance drives them away again.
If you’re setting up a campaign or live stream, make sure to notify your audience beforehand. Streaming services and record companies often have live events. Like any concert, you cannot let a band begin playing and hope that people show up.
The music business is a promotion and marketing business too. Use teasers before you begin live events and campaigns.
If you’re setting up a live video performance, practice as you would for a concert. Even though performances online, this does not mean they should lack preparation.
In fact, often live performances can attract even more listeners than otherwise. Your audience can tune in from their homes, the gym, and while waiting in line. Technologies like VR and AR on the horizon will make these live streams even more accessible.
Get acquainted with the scripts and preparations you made before the performance. If you have a song list planned or a special reveal – make sure it flows well together. Live streams can also double as a teaser for tours or in-person performances.
This is key. Originality and creativity come from experimentation. Try different content strategies, both for live music and social posts:
- Q&A sessions
- Following an artist in the studio
- Artists talking about the inspiration for a song
- Fun facts about an artist’s life outside music
- Background stories from artists
- Reviews of new features of your app
And many, many more.
Interaction happens naturally in a concert setting. Fans scream or boo different songs. The most popular songs are sung along to.
The audience can also see how core fans react to music. Many people judge creative work by how others around them seem to perceive it.
Audience interaction is not just a way to gather feedback. It is also an advertisement in itself. For example, you can tease a video by creating a video of an audience’s reaction to past videos.
Confusing? To put it simply: leverage your existing talent and content by showing its effect on your audience.
This also helps audience members interact with each other. They may form communities or introduce each other to other artists within your repertoire.
Live streaming allows you to interact with your audience in real-time. You can get instant feedback on your performers. Audiences can give their gut reactions to new music without media coverage.
Audience interaction also helps your listeners feel special. Special subscriptions or sneak-peeks help them feel individual connections to the performers.
Remember, streaming service assets are its artists. The stronger the connection between the artist and the audience, the more engagement. More engagement is more of a chance for your audience to make purchases.
Don’t just release content about your new streaming service or artists. Give your audience more than post after post.
Incentives are the extra push that can convert part-time listeners to fans. Deals, promotions, and rewards are all fantastic ideas.
Here are some examples:
- Meet-and-greets with artists
- Invites to small private performances
- Deals on subscriptions
- Free concert tickets
This type of targeted marketing can make audiences a fan of your streaming service. For them, it is no longer about your music catalog but about interacting with their favorite artists. As a bonus, many of these promotions don’t have any overhead costs.
Ad strategies can’t be executed in one day. Even strategies that focus on a particular holiday, like Valentine’s day, take preparation.
Don’t spend one week a year on ads and promotions. Your audience will quickly forget about your service and lose attachment to it. That’s why agencies like Media Shark help you develop a long-term strategy to stay consistent.
Like a streaming service, you have to provide content whenever your audience has time to check-in. Setting up repeating events also makes it easier for an audience to tune in.
If your events are every week on the same day, they’re predictable and reliable. Try to find moments when your social analytics show high engagement. All successful digital marketing is founded on consistency.
Consistent marketing is promoted by social algorithms, while sporadic marketing is buried. The most important decision is what volume of content you can consistently put out.
Spotify’s Ad Studio
Spotify introduced their Ad Studio in 2017. It is an example of a platform so well promoted that it serves to host promotions itself.
For streaming services, the ultimate success is to be able to fund a free user experience with ad support. Artists, labels, and marketers use Spotify Ad Studio to promote their brand.
On such a platform, marketers can promote more than just music-related content. Other businesses are capitalizing as well.
Streaming services collect more data on users than you might think. Listening habits, playlists, and location can tell a lot about a particular individual.
Playlist targeting allows marketers to target specific listeners at the right moments. The timing of discovering a particular song is vital.
Spotify is currently developing ad metrics that help marketers track the effectiveness of their campaigns. As a streaming service, this gives you unique insights into the artist’s audiences.
Music listening habits are becoming an essential marketing metric for businesses. By understanding the listening habits of an audience, you can understand more about their personalities. Music is a key insight into the character and patterns of consumers.
Media Shark Can Help
Streaming services have thousands of possible combinations for ad strategy. They are uniquely poised to become their own ad platform with enough popularity.
Media Shark wants to help you turn your streaming service into the next phenomenon. Contact us if you’re ready to take the next step in digital advertising.
While the online digital market is becoming saturated, there is always enough room for creativity. Media Shark can help you take a bite out of the competition and dominate your industry.
While there’s plenty of fish in the sea, Media Shark can put your company on top of the food chain.