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Media
YouTube Audio Ads Beta Is Live and Available
After testing the format since 2019, YouTube’s audio ads are now available in beta to all advertisers globally.

Its arrival struck a chord at the perfect time as consumer’s reliance on YouTube for music, particularly after a nearly concert-less 2020, gives these ads the potential to reach users who may not be watching the video in the foreground. And while many—85% of the monthly 2 billion people–consume music in the foreground, background listeners are still a sizable audience.

While the format allows for an effective way to reach this audience, it also strips down a barrier to entry for brands with limited video options. Just because the format is different, though, does not mean it’s purchased any differently. In fact, ad space is bought the same as video, on a dynamic CPM with the same targeting and bidding approaches available in YouTube’s ad-buying suite.

Since the ads are meant primarily for ears, the only visual requirements are a static image or simple animation for a companion banner to run alongside the sound. Like other YouTube ads, the pay threshold will be the :30 mark. And, although music listeners are the primary targets here, these ads are not yet available on the YouTube Music streaming service.

The audio ads have been shown to boost awareness, increasing brand awareness lift in more than 75% of measured campaigns during the testing phase. This impact is alluring, especially considering YouTube reaches 74% of US internet users a month, with the average adult spending nearly 42 minutes a day on YouTube across all devices, according to eMarketer.

YouTube’s push for audio ads runs parallel to their overall push in music. They’ve since launched dynamic music lineups, which are dedicated groups for different genres like K-Pop, Top 100 and Hip-Hop. As was likely intended, audio ads are an ideal complement to these lineups.

The new format provides yet another opportunity for brands to engage on the mega-popular platform. YouTube is looking into performance-related opportunities as the audio tool expands, but, for now, it’s a tactic worth exploring now if your main KPI is driving awareness and/or consideration. We recommend testing into the ads, ensuring measurement is a primary component of the campaign. Since it’s in its relatively nascent stages—and to keep audience options open—it should be a complement to your media mix and not a replacement for other streaming audio platforms.

The benefits of YouTube audio ads include:

  • Surround Key Audiences – Audio ads provide another touchpoint to add incremental reach and frequency to YouTube campaigns. It also can reach users who fall through the cracks that may have missed a video message while not paying active attention to the screen.
  • Extend Streaming Audio Reach – This provides another avenue for reaching avid music listeners. Layering on YouTube will increase awareness and provide scale, especially when targeting a niche audience.
  • Capitalize on the New Format – YouTube audio ads open the door to new brands and creative messaging opportunities. As mentioned, it’s more accessible for brands with limited video assets. It also provides a playground for leveraging multiple messages or creative testing.

 

It’s worth noting YouTube audio ads feature some notable differences from streaming giants like Pandora and Spotify. YouTube ads are not sold on a flat CPM, as mentioned, and can vary drastically from brand to brand based on the nature of bidding environments. The general functionality of the platform also differs from the usual music streaming services. Nonetheless, the principles for audio creative should still hold true, and including a clickable banner is a wise imperative if an action is desired. It should be noted the beta is not open to brands in sensitive verticals such as healthcare/medicine, alcohol and gambling.

If the fit feels right, consider giving your media strategy a little remix on your next campaign with YouTube audio ads.

Media
Is Retail Media Saturated?
Walgreens introduced their new retail media network – Walgreens Advertising Group – this past month. It was met with applause for a variety of reasons.

First and foremost, building a retail media network from scratch is a monumental undertaking. This one incorporated the likes of Publicis-owned Epsilon, Adobe and Microsoft for their respective ad-serving and audience building capabilities. Countless internal hours were focused on the effort as well. They used those hours to build a new revenue stream, creating something out of nothing. Time well spent to say the least.

Second, retail is no longer about simply moving SKUs. It’s now just as important to acquire data. This is something all retailers need to come to terms with. Getting ahead of the “monetize your online presence” curve should be of the utmost importance. The pandemic-induced jump-start ecommerce received is even further proof consumer preference has officially pivoted towards online.

Third, advertisers love options. Retail media started out with Amazon. Target (Roundel) and Walmart (WMG) followed suit. Since then, smaller (relatively speaking) players have joined in – most recent examples being CVS launching CMX (CVS Media Exchange) and The Home Depot beefing up its offering via Retail Media+.

Despite the applause, though, the recent launch of Walgreens Advertising Group was greeted with some rumblings as well. Certain conversations pointed to this most recent addition driving retail media towards a precipice. Was the market now saturated with too many similar options? For example, do advertisers in the grocery industry have the capacity to properly fund media efforts across Kroger, CVS, Walgreens, Meijer, Albertson’s, Costco, etc.? And if so, what unique differentiators does each possess to necessitate this?

The answer to these questions, in short, is the following: each advertiser is unique. They have unique KPIs focused on unique audiences with unique needs. This uniqueness is what makes CVS a better fit for one advertiser, while making Costco a better fit for another.

That said, they may seem ubiquitous from afar, but there are notable areas of differentiation across these retail media networks. As always, the devil is in the details:

Audiences – One can never have access to enough data. Each of these retailers has their own distinct audiences with their own unique processes of segmentation. Consumers interact with Walgreens in ways they don’t interact with CVS and vice versa. Additionally, access to first party data is becoming more and more valuable with each passing day. It’s looking more and more like the beginning of the end for third-party tracking. This shift away from cookies should cause the value of first party data to skyrocket.

Competition – When talking ad placements via digital or search, there is limited ad space on-site. Amazon, for example, has become highly competitive in the last few years – especially within sponsored search. It’s also a platform that not only allows, but encourages, conquesting in all forms. This pervasive thunderdome mentality has made it harder and harder for brands to succeed on Amazon.

Other retailers have taken the opposite approach, in some cases forbidding conquesting via their search offerings. They also have less combatants vying over each auction and can boast lower CPCs as a result. The more retail platforms there are, the more dispersed the overall competition can be.

Functionality – As it relates to self-service models, there are obvious gaps across respective retailer offerings. Some have built their own platforms (Walmart, Amazon), whereas others have leased tech from providers such as Criteo, PromoteIQ and Quotient. One constant is a lack of functionality. Product-related holes and inefficiencies exist at every turn, making management difficult regardless of retailer. But there is definitely an ease-of-use gap when comparing newer platforms versus more seasoned offerings.

Maturity – How long a retailer has been entrenched in the space is also quite important. Looking at the self-service side, Amazon Advertising’s Sponsored Search platform is lightyears ahead of Walmart Performance Ads (WPA). Looking at managed service, some have longer standing supply-side, social and influencer partnerships.

With age comes experience. Older offerings have already stepped on the landmines associated with a launch of this magnitude. Newer efforts have yet to navigate these same pitfalls.

Relationships – As noted, a lot of these offerings are brand new and the processes themselves are still experiencing growing pains. In some cases, it can all boil down to the nearest human point of contact. A great vendor rep can help you overcome some of their products shortcomings. A not-so-great rep can often end up exacerbating those very same issues.

Performance – Performance is obviously going to vary based on attribution methodology, but all things being equal, advertisers will still see different results across different platforms. Competition, pricing and inventory availability (both in breadth and in number) will all factor in. As will back-end factors such as average sales price, profitability, conversion rates, etc. Getting benchmarks from prospective platforms—even though some may be less than willing to oblige—is always key.

These retail media offerings may look similar at first glance, but their differences can be rather glaring upon closer inspection. There is very little parity among them beyond the methods they use and the space they exist.

Saturation likely won’t be a problem, but not all of these newfound media endeavors will flourish. Even the ones that don’t should provide advertisers with alternatives. We love options, remember? The main question lingering is which networks will flourish, and which will be left on the periphery?

News
Empower Lands Campaign US 2020 Independent Agency Of The Year Shortlist

CINCINNATI (January 11, 2021) – Today, Campaign US announced Empower is a finalist for its second annual Agency of the Year Awards in the Independent Agency of the Year category. According to Campaign US, these agencies have been selected by an esteemed panel of brand marketer judges for their bold creativity, strategic excellence and ability to build brands and create work that moves the needle.

Empower’s purpose is to be The Un-Holding Company ℠

The agency does what’s in the best interest of its clients–not shareholders.

In 2020, more than ever, Empower doubled down on its people and leaned into clients resulting in 100% client retention for the third year in a row. Empower also welcomed new relationships with The Body Shop, American Standard, GoDaddy and Conn’s HomePlus. All of this led to steady revenue growth with 30+ new hires and substantial growth for Empower’s Chicago office, doubling in size since opening in 2019. In addition to keeping up with the client demands of today, Empower managed to stay ahead of the challenges of tomorrow by developing four new products that are critical to future-proofing client business:

1. EMerge, a consumer journey mapping platform.
2. Media Agent, an advertising service housed within an interactive technology platform designed to be a service as a software geared toward franchisees.
3. Culture Tap, a digital marketing platform that identifies trending content, topics or themes—helping brands create relevant, real-time marketing strategies.
4. ClearTrade, an enhanced programmatic buying solution delivering better performance, attribution and customization.

Additionally, Empower invested in its community generating $650,000 for Cincinnati resulting in the most successful “shop local” initiative to date that’s now being adopted in other cities.

Underscoring all of this success is the development of Empower’s Diversity, Equity and Inclusion Board that’s focused on progressive strategies for helping Empower lead by example within the industry.

Winners will be announced February 18, 2021.

About Empower Media 

America’s largest woman-owned media agency

Our advantage is simple: Clients first – not shareholders.

From the day we opened our doors in 1985, Empower has always challenged the media status quo.

Empower is a highly awarded and respected media agency. We are a multi-year recipient of “Agency of the Year” from MediaPost and Campaign US with honors from Ad Age and Adweek.

Our senior and experienced integrated team of Communications Strategy, Media Innovation, Media Planning and Buying, Creative, Marketing Scientists, Influencer Marketing and Data-Analytics work in collaboration on our client’s business daily.

Empower’s client tenure rate is unmatched–3X the industry average. Our clients include Tempur Sealy, Wendy’s, Brooks Running, Fifth Third Bank, Gorilla Glue, O'Keeffe's, E.W. Scripps, Jack Link’s, VTech, Bush Brothers, Zaxby’s, GNC, Famous Footwear, Ashley, LIXIL, O-Cedar, Rust-Oleum and RoC Skincare.

Empower Media is woman-run (67% female) and woman-owned – making it the largest woman-owned media agency in America.

Our offices are in Chicago, Cincinnati, Atlanta, New York, Houston and Palm Beach.

Find us on Twitter, LinkedIn, Facebook, Instagram, and online.

Empower