Exploring the Potential of Pandora for Advertisers Large and Small
Knoodle clients and advertisers in general are flocking to try Pandora radio as a booster or alternative to other media. Here is a general overview when considering the medium.
What is it?
A musical streaming app where advertisers pay for the number of thousands reached and can choose some basic criteria such as age group, gender, income groups and zip codes. The advertiser only pays for what is reached with a preset budget that stops when the figure is reached. There is a $1,500 minimum spend. Advertisers can choose web, mobile (phone or tablet) or both.
A general overview
The nice thing about Pandora is that you can be a nail salon or a major homebuilder and still get visible results. This is especially true because the barrier of entry is low. An advertiser can spend as little as $1,500 and reach his or her specific clientele in a specific area of town. Bigger advertisers can take a more tactical approach buying areas that have different messages. Also, advertisers have the ease of buying any market in the country using any criteria available.
Pandora offers three basic products:
Audio- A :30 message
Video- This is either a :15 or :30 video
Display- It is a static display ad but has lifestyle criteria that can be applied that can be as specific as political party, number of children and travel habits.
All ads end with a clickable banner so that the advertiser can go right to a special offer or landing page for more information. Analytics are supplied each month to show how many people were reached and how many were interested enough to click on the banner.
Who listens to Pandora? (According to Scarborough Research, 2015)
It’s good for all ages except for those over 65. Keep in mind, you only are charged for who you reach. So the question, “how do I know if my audience listens to Pandora” has this answer:
You won’t pay if no one is listening.
61.7% are women
67% are 21-49
Who doesn’t listen to Pandora?
Adults 65+ do not- only 5.1% of Pandora listeners are in this age group.
Sandra Guadarrama Baumunk, knoodle Director of Client Services, has had great success by incorporating Pandora into the media mix. “Most of my clients were a little hesitant at first because it was a new media when we first suggested this,” she said. “But they are now making it part of their regular media plan. We have really seen it enhance results when paired with local radio.”
Baumunk has seen it work for Fulton Homes, Plastic Surgeon Dr. Remus Repta, Red Development’s power centers, The Salsa Challenge and Central Arizona Project.
Matthew Wilson, Vice President of Creative at knoodle, said the success in Pandora is starting with a compelling message and adding a call to action.
“The most successful campaigns use a quality, voice talent and speak directly to the Pandora listeners as if it was a one on one conversation,” he said. “Also, be clear about the call to action- click on the banner for a 30% off coupon or visit their web site, for instance”.
Wilson added that part of Pandora’s magic is due to the uncrowded listener experience with no more than two messages played at any one time.
There are also many customized programs that can be done where advertisers can truly “own” their own radio environment, which can be great for a company dealing with lifestyle. This is often done nationally, but can be done locally, as well.
Samplings of some of our most successful Pandora advertisements are attached for your review. http://knoodle.com/portfolios/fulton-homes/