iHeartMedia, Pushkin Pitch for Audio Ad Dollars, By Suggesting Marketers Aren’t Spending in Tune With Consumers
13.09.2023 - 21:31
/ variety.com
Brian Steinberg Senior TV Editor While Madison Avenue seems focused on shiny new technologies, iHeartMedia is encouraging advertisers to get back to basics. Research conducted by Morning Consult and Advertiser Perceptions on behalf of the audio-media giant and podcaster Pushkin Media found a growing disparity between what marketers think top consumer priorities are and the things to which consumers are actually gravitating.
While Madison Avenue seems to think consumers aspire to nosh on charcuterie and watch “Succession,” consumers seem more interested in U.S. travel and going to barbecues.
The disparity suggests advertisers are chasing after a niche interested in luxury and wealth, but ignoring the desires of a larger part of their overall potential customer base. “We are seeing a lot of human bias creeping into marketing decisions,” says Gayle Troberman, chief marketing officer of iHeartMedia, in an interview.
The recent surveys, she adds, reveal a big difference “between what American consumers post-Covid feel, believe, value and joy and what marketers post-Covid think is of value and are enjoying and prioritizing.” The research suggests, for example, that marketers seem fascinated by NFTs nd pickleball as examples of consumer interest, but indicate a significant portion of their likely consumer base has never heard of such things. The executives think advertisers should apply the findings to their audio advertising budgets, noting that many consumers continue to listen to terrestrial radio as well as podcasts.
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