New metrics for music marketers to measure Spotify campaigns
Spotify has launched new analytics tools for music marketers to understand the actions listeners take after listening to an ad.
This week Spotify introduced additional functionalities to its self-serve ad management platform, Ad Studio. Spotify first launched Ad Studio back in 2017, allowing brands to create DIY targeted ads within the Spotify environment; read Marketing’s full coverage here »
Music marketers, labels and independent artists will now have access to a slew of new streaming conversion metrics for their Spotify campaigns – whether listeners clicked through to listen, saved the music, hearted the music or added it to a playlist.
The new tools also allow an advertiser to see how a campaign’s performance varies with existing fans of the music and potentially new fans.
“Those are the Holy Grail of metrics for an artist to know,” says Conor Clarke, CEO and cofounder of Wavo.
“With Spotify’s new advertising capabilities, we’re getting insight into not just how our campaign is resulting in streams, but deeper actions for an artist like how those listeners are turning into fans and adding a song to their playlist or hearting a song.”
Prior to the update, Ad Studio offered advertisers general audience insights such as age, gender, genre preference etc. According to Spotify, labels and artist teams have since been asking for more granular campaign reporting.
“This is the reporting we’ve been wanting to see,” says 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.”
In addition to promoting music on the platform, music marketers can also use Spotify Ad Studio to create ads for peripheral activities such as concerts, new releases, merchandise and other non-music-related content.
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Image credit:Heidi Sandstrom.