It's natural for labels artists to wonder about the efficacy of the ads they're spending money on and, thanks to metrics now available on Spotify's Ad Studio, they are able to do just that, thereby gaining a better sense of user engagement on the platform.
Guest post by Randi Zimmerman of the Symphonic Blog
Ever want to know more than just who clicks your Spotify ads? Labels and artist teams have been asking for this insight for years, so of course, Spotify figured it out and gave it to them.
What is it?
Spotify Ad Studio is a self-serve platform that allows artists and their labels to share their music with short (30-second or less) audio ads that are played for the free users on the Spotify app. These ads are served during ad breaks between songs, and offer an image and URL for a single of the artist’s choosing.
With a whole new range of tools, artist teams can now monitor the impact their campaigns have on consumer streaming with Spotify Ad Studio. These new analytics will help artists and their teams better understand how their ads are actually working. Whether listeners clicked through to listen, saved the music, or added it to a playlist, these metrics will show it all. These new tools can even show you if your campaign did better with your existing listeners or if it hooked new fans instead.
What makes these tools different?
The old Ad Studio metrics used to only show general insights like age, gender and genre preferences, but labels and artist teams wanted to know more than just who’s clicking their ads. They want to know what came after that initial interaction. Who followed the link and is now a die hard fan thanks to the ad? Who added the song to a playlist? These are key factors that artists rely on to really see how successful their ads are.
Spotify released this quote on their blog, “This is the reporting we’ve been wanting to see,” shared Jimmy Brunetti, VP of Marketing at independent label services company Croshal Entertainment Group. “I really like how it gives us an indication about how our ads drive deeper actions. That’s promising for an artist, especially newer artists with room to grow.”
Spotify Ad Studio provides a whole new method for promotional campaigns. Announce a new release or take advantage of a trending moment and you’ll get to see exactly how much those actions affected your monthly listeners.
A recent campaign that Wavo — a music marketing agency — ran for a recent Rich the Kid release with Interscope. 38% of people who heard the ad (which featured a sample of the new song, along with an introduction from Rich the Kid himself) went on to listen to the artist. And almost 20% of those listeners streamed his music for the first time that month.
To sum it all up,
These are insights that help artist teams discover new fans for their artists and encourage passive fans to become more active. These metrics are changing the game for artists, and the opportunities for growth are endless when you’ve got the right tools.
What doesn’t work so well can be adjusted to fit the audience better and improve the success rate of your future campaigns. These tools are helping artists utilize the best of Spotify as the ideal platform for reaching listeners and growing their fan base, and more success = more revenue.
Be smart with your advertising, and utilize Spotify’s new Ad Metrics tools to help you reach your goals.
Stats sourced from Spotify for Artists Blog