February 15, 2023
How Streaming Audio is Changing the Marketing Landscape for Real Estate
With weekly access to over two-thirds of the United States population, streaming audio provides an incredible digital marketing tool that home builders and real estate developers can and should utilize! Streaming services like Spotify, Apple Music and Pandora offer an invaluable platform to reach multiple generations with real estate advertising and marketing efforts.
Home builders and real estate developers who use streaming services can advance targeting and diversify reach and effectively report metrics and lead prospective homebuyers to the perfect home builder or new home community.
Below, we analyze what makes streaming audio a helpful tool for reaching homebuyers and successfully advertising real estate.
Whether they are listening to upbeat tunes, true crime or motivational podcasts, educational audiobooks or live streams of traditional radio, more and more individuals within the United States are listening to streaming audio. In 2022, 74% of interest users in the United States alone engaged in streaming services and, on average, spent more time listening to digital audio than scrolling through social media, streaming videos or playing video games.
Streaming audio listenership stretches across multiple generations, with 222.7 million people listening to digital audio at least once a week. Research shows that approximately 71% of millennials and 63% of Gen X are reached through streaming audio weekly, allowing home builders and real estate developers to easily reach most of their target audience.
With a high saturation of streaming audio services today, deciding which platform is the best fit can be difficult. More than 60% of users in the United States paid for a streaming service in 2022, and a majority of digital audio listeners have been subscribed to a streaming service, such as Spotify, YouTube Music, Apple Music and Amazon Music, for multiple years.
With 489 million subscribers, Spotify is the world’s most popular audio streaming service and offers over 100 million songs and five million podcast titles. Spotify reaches 406 million people monthly, including 236 million active listeners that are under ad-supported accounts – making this platform great for advertising!
Following behind Spotify, Apple Music has 88 million subscribers and provides 70 million tracks available to stream. YouTube Music has over 80 million subscribers and offers 60 million songs to stream and download. Lastly, Amazon Music has approximately 68 million subscribers and has 100 million tracks and thousands of expert-curated stations and playlists.
Allowing home builders and real estate developers to easily find their target audience, streaming audio service platforms remove the hassle of perfect ad timing with on-demand listening – letting the consumer decide when the audio airs. Home builders and real estate developers can also expand their target audience reach by utilizing more than one streaming audio service, as well as honing in on when the consumer streams with when they may be listening to running ads.
Real estate developers and home builders can utilize advanced targeting tools to enhance their audience reach through:
• Demographics: age, job and location
• Interests: fashion, politics and sports
• Device Type: smartphone, laptop and tablet
• Behaviors: mobile phone usage, online shopping habits and podcast listening trends
• Genres: pop, rock, hip hop, country, jazz and alternative
• Playlists: “2000s Hits,” “Gym Jams,” and “Classics”
Uniquely Connect with Target Audience
Many streaming audio consumers enjoy listening to their favorite songs, an interesting podcast or a motivational audiobook while doing household chores or commuting to work. Streaming audio's unique flexibility and connectivity offer great opportunities for home builders and real estate developers to connect with their target audience on another level.
When deciding who, where and how to advertise your real estate efforts, it is essential to do extensive research on your target audience. Audience targeting tools can help real estate developers and home builders boost traffic and interest if executed right. Research shows that 61% of streaming audio listeners say that digital audio ads help them discover new opportunities, and 75% of listeners remember ads better when the ad recognizes their specific setting.
Much like other digital marketing tactics, reporting on streaming audio platforms includes tracking the number of targeted ad plays, post-exposure visits, and post-exposure conversions such as contact us inquiries and form-fills.
Reporting metrics are an essential factor in optimizing ad efficiency! Processing behavior shifts and market changes can help improve targeting strategies so ads can perform at their very best. Trial and error is the best way to find the perfect combination of factors to ultimately optimize efficiency. Testing multiple different ad sets can help decipher which aspects of an ad are the most beneficial.
Spotify states that every advertiser should plan accordingly toward marketing goals and adjust factors along the way. These factors include:
• Tracking ad delivery metrics: ads served, frequency, reach, completion rate and budget pacing
• Monitoring performance metrics: CTR, clicks and quartile completion rates
• Learning more about the target audience: age, genre and streaming device
Reach New Audiences More Effectively by Partnering with Milesbrand
Streaming audio offers helpful mediums that reach and engage prospective homebuyers every day. We can help you create and introduce your real estate or home builder brand to the perfect audience and communicate your community and company’s unique value to potential consumers.
At Milesbrand, we specialize in positioning brands through omnichannel marketing methods to deliver incomparable brand advertising. Contact our team to learn more about our experience with branding and advertising campaigns.