With Spotify increasing their users year-over-year, it is a great market to branch into that is still relatively untapped. But their price to advertise on Spotify is often behind backdoors and hard to figure out.
Fret not, because, with our guide, you’ll know how much it cost and why you should consider advertising on Spotify.
How Do You Advertise on Spotify?
There are multiple ways of advertising on Spotify. The most common form of advertisement is the use of banner ads. These ads are exactly the same as other banner ads found on websites, they’re just on the Spotify platform.
The other two methods are through Sponsored Sessions and Audio ads. Sponsored Sessions are when a user watches an advertisement for 30-seconds for a return being able to listen to Spotify ad-free for around 30-minutes. Audio ads are just that, they’re 10, 15, or 30-second ads that are an audio ad of your company.
For those that want to learn more about Spotify advertising tricks, be sure to check out savantdsp.com.
How Does Spotify Advertising Work?
When you advertise a business on Spotify, they work to help you target an audience that matches your business. They don’t want to be selling ad space on roofing to a 16-year old that is still in high school.
Rather they take into account age, gender, location, and what platform the user is on to help allocate where your advertisement should reach.
Spotify also allows you to record your own advertisements on their platform and utilize free background music to help the audio standout. Once the ad is created, you can track your metrics and other stats to see if your ad is reaching who you need it to. You’ll also be able to see what the conversion rates are.
What Is the Cost of Advertising?
The minimum to get an ad up and running on Spotify’s platform is $250. From there, you’ll be paying for each ad served.
When it comes to paying per ad served, it all comes down to the competitiveness of the field. If you have a low competition field, you’re likely to pay the lower end of $0.015. If it is highly competitive, expect to pay the higher end of $0.025 per ad served.
What Businesses Should Advertise on Spotify?
The type of business that you run strictly dictates the type of advertising you should do on Spotify. If you have a global company, like software, apps, or even retail, Spotify is a great way to reach millions of “free” users every month.
Those that run local businesses in small towns, like handyman jobs, should look to other platforms to reach their audience. The smaller the percentage of local users that use Spotify, the less you should consider the platform.
Advertise on Spotify to Reach Millions
When you advertise on Spotify, you’re reaching millions of users for relatively cheap ads. The platform doesn’t feel overly invasive, compared to other advertising posts which can often ruin the feel of the content.
If you enjoyed the article and want to learn more about expanding your business, be sure to check out the rest of our blog. If you know a business that could utilize Spotify, be sure to share this article with them.