Remember when Facebook was an exclusive online club for college kids to connect? That’s almost 15 years ago now — a lifetime in tech. Then, in 2018, Facebook came under scrutiny for massive user data breaches. In the congressional hearings that followed, it became clear the issue was less about security. What was really under fire was why facebook had all that data to begin with.
In a 2010 interview, tech writer Jaron Lanier summed it up best: Facebook says, ‘Privacy is theft,’ because they’re selling your lack of privacy to the advertisers who might show up one day.
And that’s exactly what happened. Regardless of how you feel, Facebook is one of the most effective advertising tools money can buy.
So why are we talking about Facebook when the headline here is about Spotify?
Well, Spotify is rolling out targeted ad buys for their podcast platform, and is poised to be an even better ad buy for direct marketers.
Part of this has to do with the process by which many users sign up for Spotify – through their Facebook accounts. When this happens – in theory – whatever information has been previously relinquished to Facebook is immediately accessible to Spotify.
But it’s more than the Facebook connection. Podcasts are just innately better for ad vehicles. The medium, in and of itself, allows for a straight shot at a bigger, brighter target. There’s no wind to account for, and no chance a potential conversion scurries away at the last second.
If you’re a podcast fan and a fan of the Spotify platform, then you already sort of know what we’re talking about. You’ve heard the ads embedded into your favorite shows, read aloud old school, Mad Men, ad copy style by the host.
You likely even enjoy the ads! Presumably, your favorite show and its subsequent genre or category is aligned in some way with your consumer behavior.
And this isn’t merely presumption. According to Midroll, the world’s largest podcast advertising network, 60% of podcast listeners say they bought something after hearing an ad. The most loyal listeners are even more likely to buy. 72% of people who have listened to a podcast for four or more years have made a purchase.
But it’s not just that the right product copy tends to stream through the right set of speakers. In some cases, listeners simply are able to make the connection between advertising funds the content that they truly value.