Audio Drives Conversion Success
Audio Drives Conversion Success
By Audacy Insights
Consumer gambling, sports betting and lottery activity have seen a lot of change over the past year – with adjusted pro sports schedules, Covid-related casino closures and new state gambling legislation. The one constant has been increased adoption of online gambling, across both web and app platforms. The North America online gambling market is projected to grow by 15% over the next five years.1
For brands advertising to online bettors and those that play the lottery, the number one priority is proof of performance. These brands have an overwhelming number of marketing tactics at their disposal, and it often makes the most sense to invest in a potentially new channel like streaming audio or podcasts if they can directly measure the impact of their ad campaign on customer conversion.
For the gambling industry, advertisers target a very unique set of metrics. These campaigns typically have two-part calls to action for potential new customers: 1. Download the app or register online, and 2. Fund your account. The second conversion goal, often referenced by the term ‘first time deposits’ (FTD) garners the most attention as a critical success metric.
Case Study: An online gambling leader ran a multi-market AUDACY campaign intended to boost new account registrations and first time deposits through its app and website. The audio campaign had a significant impact on conversions – driving thousands of new customer conversions with a Cost per FTD of $21.20 and a Cost per Registration of $9.90.
Streaming audio has proven to be a very successful channel for these advertisers for two reasons:
1. Streaming Audio Drives Conversions: Leading gambling and lottery brands are increasingly embracing streaming audio’s ability to deliver quantifiable conversion results. Audacy has run attribution studies to analyze campaign conversion success from leading brands in gambling. On average, gambling campaigns run on AUDACY’s streaming network deliver a $47.36 cost per conversion for first time deposits.
2. Audacy Has Your Sports and Betting Audience: Audacy’s streaming audio network is home to more engaged sports and betting fans than any other platform.
Through a robust 1st party data set, advertisers can target not only traditional demos, but tailor their campaigns to reach custom audiences, whether that be fantasy sports fanatics, lottery players, or visitors of specific gambling sites.
With recent advances in audio for audience targeting and attribution, brands can now leverage their ad budgets to reach the right customers and convert them into new users. Audio is a highly effective and nimble medium, connecting brands with audiences who will listen to their messages and act upon them. Across streaming, OTA and podcast platforms, casino and online gambling brands can identify and target those that play poker, visit casinos and wager online. Sports brands can engage those who are regular sports event viewers, who visit sports analytics websites and join fantasy leagues. And state lotteries can tap those individuals who buy scratch offs, go for the Powerball, or buy tickets daily. AUDACY over-indexes with all of these critical audiences, providing a key resource to brands seeking new users and return on ad spend.
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1 Mordor Intelligence, North America Online Gambling Market-Growth, Trends and Forecast report, November 2020.
2 Comscore, Sept-Nov 2020; Audacy 1st party data via Neustar, Dec 2020