Music platforms have revolutionized the way we access audio content such as music and podcasts. There are millions of people subscribing to such different platforms and with this realization, it makes a lot of sense for advertisers to tap into this market as they are guaranteed to reach a wide range of audience.
Different platforms, such as Spotify, provide the flexibility to navigate to different websites or just generally continue with other activities while the music plays in the background. This means that all adverts will play at regular intervals throughout the listening time and they will be heard, unless the listener is a premium subscriber.
Advertisers have the advantage of working within the budget they are comfortable with since the set minimum limits are low and this allows for better planning. Additionally, a platform like Spotify will provide the necessary tools to create customized Ads in case you don’t have one already or are not sure how to navigate the Ad creation space.
Having looked at the great potential that lies in this space, we now narrow down to the Spotify music platform and have an in-depth look at how the whole Ad process looks like, and see whether it is worth to consider booking an Ad space with them.
How do you advertise on Spotify?
Spotify provides a self-service platform known as Spotify Ad studio. This is the best place to start whether you run a large business or a small startup. This platform provides a voice-over actor for all your written Ads as well as an easy upload option for those with their own audio Adverts.
It is really easy to place an advert on this platform by following a simple set of guidelines;
- Objective – The first step is to know why you are advertising and the goal you want to achieve. The goals may include creating awareness of your product, promotional adverts, launching a new product/business as well as reminding your target audience of the existence of your product so that its always on top of their minds. The platform has a list of objectives to choose from so this is usually an easy task. Once you select your objective, there is the option of naming the Ad which is important if you plan on running several promotions over time and you need ease of reference.
- Audience – Once you set your objective, the next step is to choose the target audience. Spotify has different filters for this step which allows one to narrow down as much as possible or have a wide range of audience as they wish. These filters allow the advertiser to choose the geographic location, age and even gender of their intended audience.
- Schedule and Budget – The Advertiser gets to choose when to run the Ad and for how long at the click of a button. One is then able to choose the budget they are comfortable with and input their payment method. You have the flexibility to choose between credit cards, debit cards and prepaid cards.
- Ad Creation – As earlier stated, the Spotify Ad studio allows users to either upload an Audio or a script at the tap of a button. When you upload a script, you select the voice over option so that the platform can convert your script to an Audio.
- Visual Display – Once the Ad has been uploaded, you can then provide a creative image that is displayed when the Ad is running. By Providing a link, you are then able to direct users to your website or wherever you would like them to go next. This is a great way to enhance a call to action for the listener.
With these few and straight forward steps, you’ll have a running Ad in a matter of minutes.
How much is a Spotify Advertising?
The cost of an Advert on Spotify depends on the advertising model used.
For Self-Serve Clients who use the Spotify Ad Studio, Prices start as low as $250 with free access to a wide range of production tools.
For Programmatic Pricing, Clients have the option of either using an auction method where they bid starting with a set floor price or alternatively use a fixed rate that is usually discussed with a Spotify representative before an Ad is launched.
For Customized Pricing, clients have the option of working with the Spotify team to create tailored Ad Experiences whose prices are then set within given parameters.
How Much Does a 30 Second Ad Cost on Spotify?
On average, a Spotify Ad runs for 15- 30 seconds. Clients can expect to pay a range of $0.015 to $ 0.025 for each Ad. The minimum spend budget is usually set at $250 and with this information, a client is able to calculate how many adverts they can expect on average.
Should I Advertise on Spotify?
Considering the large consumer base the Spotify platform commands, one should definitely consider placing an Ad with them. There are several benefits one can expect to reap if they advertise with Spotify;
- An opportunity to reach a large percentage of the target audience due to the fact that there are millions of Spotify users.
- The Advertising costs are affordable and thus one is able to work within their budget.
- The platform provides a simple, user-friendly way of creating Ads.
- Advertisers are guaranteed of an audience for their Ads since majority of the users are on the Spotify Free package
- Since Spotify allows users to shuffle between different sites while still listening to music, they end up playing music or podcasts for long hours and for the advertisers, the longer the hours spent on the platform, the higher the probability that their Ad will be heard. This means the objectives they set will definitely be met.
There’s definitely a very huge potential for Advertisers to meet their objectives and reap big with the Spotify music platform.