NEW MAGNA x VOX MEDIA STUDY REVEALS THAT PODCASTERS ARE NOW MORE INFLUENTIAL THAN TRADITIONAL INFLUENCERS
New York – May 10th, 2023 – The growing popularity of podcasts is an indicator of the changing landscape of media entertainment, as more people are tuning in regularly to listen to their favorite podcasters. In turn, podcasters are becoming deeply entrenched in the cultural zeitgeist. MAGNA’s Media Trials unit joined forces with Vox Media to explore this emerging phenomenon; in particular, what is it about podcasts that resonates with people and how.
The research paper, A New Era of Influence: Podcasters’ Emergence as One of Today’s Most Influential Figures in Media looks at the nuances of the podcast media format and the unique connection between podcasters and listeners. In addition, the study outlines best practices for brands interested in advertising on the media format.
A New Era of Influence reveals that podcasters are so influential in the lives of their listeners, that 75% of listeners say they value podcasters’ influence more than they value the influence of social media influencers (15%) and TV/movie celebrities (10%) – meaning that podcasters have effectively de-throned the original influencers. Further, 75% of listeners say that podcasts serve as their primary source of information on topics in which they are most passionate and is highest among Millennials (86%). This is likely because podcasts fill a void that other media formats simply cannot. For example, podcasts offer more in-depth information (50%) and exposure to current topics and conversations (48%), compared to other media formats (e.g., social media and popular video apps).
In today’s landscape, people are forming new relationships with media as their expectations have changed. For many, media can serve as a mechanism for satisfying the desire for personal fulfillment (72%). This is especially true among Adult Gen Z (70%) and Millennials (80%), who now desire achieving personal fulfillment over connecting with others.
“By its nature, listening to podcasts is one of the more intimate media experiences and it stands to reason that people will form strong attachments with their favorite hosts, but we were surprised at the deep level of connection and trust that listeners feel for their favorite hosts,” said Edwin Wong, SVP for Insights and Innovation at Vox Media. “That podcasters have more clout than social media influencers and mainstream celebrities leads to a paradigm shift in thinking about who is the best endorser for properly aligned brands.”
This unparalleled level of intimacy and influence translates directly to a more memorable and effective ad experience. Over two in three listeners say they pay more attention to podcast ads than ads they come across elsewhere (e.g. TV, social media, etc.). Across genres, podcast ads are perceived as highly effective in both generating brand awareness and driving purchase intent. Podcasts represent an ideal environment for brands to share thoughtful brand messaging as listeners are highly receptive to detailed information while listening.
Podcasters’ influence extends to advertising and purchase decisions, especially among Millennials, 70% of whom say they have been persuaded to purchase by a podcast ad. Beyond driving purchases, podcast ads are highly effective in introducing new products or services to listeners (77%). Although podcasts present fewer barriers to purchase compared to other media formats (e.g., social media, television), there are still many opportunities for brands to improve the purchase experience for listeners.
“Advertisers have a great opportunity to forge close relationships with consumers by joining forces with a podcaster whose content, personality and point-of-view align with the audiences they are trying to reach,” said Kara Manatt, EVP, Managing Director, Intelligence Solutions, MAGNA. “Often, barriers to purchase are lower than other media formats and there are opportunities to catch a rising media personality at the start and be a part of a dynamic sponsor/host/consumer bond.”
A New Era of Influence Takeaways:
Podcasts content is uniquely trusted information. When people listen to podcasts, they aren’t just getting any content – they’re getting content that they deeply trust. Most listeners agree that the content they receive from podcasts is superior to the content they receive on social media (79%). This inherent trust can have an uplifting ripple effect across other content associated with the podcast, such as podcast ads.
Podcasts deliver on the desire for self-fulfillment. Aside from its practical use in disseminating information, podcasts are helping listeners achieve their inner desires. As such, 79% of listeners agree that listening to podcasts motivates them to be better versions of themselves. Therefore, podcasts effectively carry listeners through the trajectory of ideation through actualization.
Listening to podcasts enables smarter decision-making. Listening to podcasts is more than just a pastime, it’s a way to help listeners in their decision-making in nearly every facet in their lives. Most listeners agree that listening to podcasts have helped them make smarter decisions (77%), and more often than not turn to this format over social media for help when making these decisions.
Brands should not shy away from sharing descriptive information. While listeners are tuned in and in a receptive mindset, this is a prime opportunity for brands to share strong brand propositions and/or details. In fact, the description of the product/service is the #1 driver of purchases among listeners (Indexed at 124).
As part of this study, MAGNA conducted focus groups with individuals across the United States, as well as surveyed 2,028 people online, with geographic and demographic diversity for the report.
The full study may be found here.
About MAGNA
MAGNA is the leading global media investment and intelligence company. Our trusted insights, proprietary trials offerings, industry-leading negotiation and unparalleled consultative solutions deliver an actionable marketplace advantage for our clients and subscribers.
We are a team of experts driven by results, integrity and inquisitiveness. We operate across five key competencies, supporting clients and cross-functional teams through partnership, education, accountability, connectivity and enablement. For more information, please visit our website: https://magnaglobal.com/ and follow us on LinkedIn.
About Vox Media
Vox Media is the leading modern media company, reaching audiences everywhere they are. Known for editorial properties including Vox, SB Nation, New York Magazine, The Dodo, and Eater, the company’s portfolio features the most relevant, respected, and engaging editorial properties and voices. The company is also home to award-winning storytelling businesses such as Vox Media Studios and the Vox Media Podcast Network, as well as innovative technologies that support the entire media industry, including the Concert advertising marketplace. Vox Media proves that quality can scale.
Media Contact:
Elaine Underwood
Content Director, Global Corporate Communications
Mediabrands
[email protected]
(201) 306-6062
Augmented Reality Makes Shoppers More Confident About Purchases
By Brandy Shaul, Published on AdWeek
Respondents shared their opinions about online shopping and AR features
Augmented reality features can improve a consumer’s shopping journey, according to research from Magna’s Media Trials unit, part of IPG Mediabrands, Reprise Commerce, and Snap.
A survey of 8,000 respondents across the U.S., U.K., Germany and Saudi Arabia found 69% of respondents would feel more confident about their purchases if they were able to virtually experience a product before buying it. Similarly, 64% of shoppers would be less likely to return a product if they were able to virtually experience it prior to making a purchase.
The survey found users are interested in using AR features while shopping across a variety of product categories, including clothing (87% of respondents), furniture (85%) and tech products (83%). If AR features are offered, 64% of respondents said they were at least somewhat likely to take advantage of these features to virtually try on or experience products.
“More than 250 million Snapchatters have engaged with AR shopping Lenses on Snapchat, and come to our platform to receive trusted recommendations from their real friends and the creators they love,” said David Roter, vp of global agency partnerships at Snap Inc. “There’s a huge opportunity for brands and agencies to make the shopping experience better by using the power of AR technology to create engaging new experiences that shoppers can share with their close network of friends and family.”
Overall, the survey found social media platforms are the top sources for online product discovery, followed by online marketplaces and search engines. The majority of respondents also said shopping through social platforms feels “quick,” “convenient” and “seamless.”
“What advertisers need to know is that online shopping is already deeply rooted in social media. Most social media users are already using it as a way to discover new products and close to half have made purchases directly on social media platforms,” said Kara Manatt, evp of Intelligence Solutions at Magna. “Advertisers should take advantage of social media tools to reach consumers where they are and consider leveraging social commerce technology like discovery tabs and virtual shopping groups.”
Read the Full Study
Read the Article on MediaPost
NEW RESEARCH BY MAGNA MEDIA TRIALS, REPRISE COMMERCE AND SNAP REVEALS THE MYRIAD OF WAYS SOCIAL COMMERCE HELPS BRANDS REACH AND CONVERT CONSUMERS
Study finds Social Has the Power to Condense the Purchase Journey to One Click and Enhance the Online Shopping Experience
New York, NY – April 26, 2023 — There has never been a better time for brands to sell on social media. People are already shopping on social media, and the data shows that they will continue to do so. New research by Media Trials, a research arm of IPG Mediabrands investment and intelligence company, MAGNA, Reprise Commerce, also part of IPG Mediabrands, and Snap, set out to establish what consumers want today while shopping online and explore new ways of guiding the purchase journey.
What Does the Future of Social Commerce Entail? found consumers wanting simpler paths to purchase, with GenZ respondents agreeing that the traditional shopping journey is almost twice as complicated as social shopping, which takes one click to go from post to product page. Once there, brands that experiment with social-commerce tech, like augmented reality (AR) lenses, discovery tabs and virtual shopping groups, can enhance the consumer experience.
The study found that social plays a significant role in the purchase journey and advertisers should aim to invest in tools that connect friends and family on social media while online shopping. And further, advertisers should test augmented reality (AR) capabilities alongside video ads on social media platforms to better understand how AR can help fuel consumers’ purchase decisions. The research was conducted in four countries including the United States, United Kingdom, Germany and Saudi Arabia.
“What advertisers need to know is that online shopping is already deeply rooted in social media. Most social media users are already using it as a way to discovery new products and close to half have made purchases directly on social media platforms,” said Kara Manatt, EVP, Intelligence Solutions, MAGNA. “Advertisers should take advantage of social media tools to reach consumers where they are and consider leveraging social commerce technology like discovery tabs and virtual shopping groups.”
Ninety-two percent of people said they would be willing to purchase directly from brands on social-media platforms instead of an online marketplace if offered good deals and discounts, user-friendly apps, real-time customer service, instant shopping capabilities, recommendations for products through ads and timely updates on sales and events. In Saudi Arabia, 97% of consumers discovered a product on social media and 80% purchased the product.
Additional key findings of What Does the Future of Social Commerce Entail? include:
- Openness to making the purchase on social media platforms is universal, young people are especially willing: Younger generations are leading the charge in discovering products and making a purchase on social media platforms. Seventy two percent of people most likely to make a purchase via a social shopping journey are GenZ, and 69% are Millennials.
- Investing in social shopping features simplifies product discovery: As far as social shopping features go, 67% of people would use Discover tabs to shop again in the future, followed by Shopping Tabs (72%) and Shoppable Buttons (70%).
- While influencers serve as a resource, nothing beats the persuasive power of people you know in real life: 78% of people said they would look to friends/family on social media for recommendations vs 59% known influencers and celebrities, while 77% look for inspiration on social media from their friends/family, compared to 62% of known influencers and celebrities.
- Everyone agrees social shopping smooths the purchase journey: 79% of people feel the social shopping journey is quick, while 75% find it to be convenient and 65% find it to be seamless.
- AR will instill confidence in purchase decisions: 69% of people feel more confident about their online purchases, using virtual experiences, which can lead to fewer returns and benefit sustainability and brand profitability. In fact, 64% of respondents claimed they would be less likely to return a product they’d experienced virtually before purchasing.
“As consumers become increasingly open to AR features while social-shopping, brands would be wise to introduce features like try-on lenses for clothing and in-room product placement options to test home-décor items,” said Glen Conybeare, Global President, Reprise Commerce. “Study participants said they were not only open to using AR to purchase clothing and furniture, at 87% and 85% respectively, but also for experience driven purchases like travel and food at 80% and 76%.”
“More than 250 million Snapchatters have engaged with AR shopping Lenses on Snapchat, and come to our platform to receive trusted recommendations from their real friends and the creators they love,” said David Roter, VP, Global Agency Partnerships, Snap Inc. “There’s a huge opportunity for brands and agencies to make the shopping experience better by using the power of AR technology to create engaging new experiences that shoppers can share with their close network of friends and family.”
The methodology of the study included focus groups in the U.S. and administering online surveys to nationally representative panels of consumers in the U.S., U.K., Saudi Arabia and Germany, numbering 2,000 per market.
The full study can be found here.
About MAGNA:
MAGNA is the leading global media investment and intelligence company. Our trusted insights, proprietary trials offerings, industry-leading negotiation and unparalleled consultative solutions deliver an actionable marketplace advantage for our clients and subscribers.
We are a team of experts driven by results, integrity and inquisitiveness. We operate across five key competencies, supporting clients and cross-functional teams through partnership, education, accountability, connectivity and enablement. For more information, please visit our website: https://magnaglobal.com/ and follow us on LinkedIn.
About Reprise Commerce
Reprise Commerce is the dedicated Commerce business unit of Reprise. We provide specialist commerce consultancy to brands as well as activating performance media campaigns, creating commerce content, and reducing friction to the buying process on Direct Consumer, eRetailers and Marketplaces. With 350 commerce experts amongst our team of 2500 performance marketing specialists, our team is connected to our clients and customers. To learn more about Reprise Commerce, visit our website and follow us on LinkedIn.
About Snap:
Snap is a technology company. We believe the camera presents the greatest opportunity to improve the way people live and communicate. Snap contributes to human progress by empowering people to express themselves, live in the moment, learn about the world, and have fun together. The Company’s three core products are Snapchat, a visual messaging app that enhances your relationships with friends, family, and the world; Lens Studio, an augmented reality platform that powers AR across Snapchat and other services; and its AR glasses, Spectacles. For more information, visit snap.com.
Media Contacts:
MAGNA/Mediabrands
Elaine Underwood
Content Director, Global Corp. Communications
201-306-6062
[email protected]
Snap Communications:
[email protected]
MAGNA’s Vincent Letang Drills Down Into His Advertising and Media Forecast
By Jack Myers, Published on MediaVillage
To gain an in-depth overview of the advertising and media economy for 2023, join me for this week’s Legends & Leadership conversation with Vincent Letang, Executive Vice President, Managing Director, Global Market Intelligence, MAGNA. Vincent shares details from his updated U.S. advertising forecast across all major media categories. His macro-economic perspectives and detailed outlook are the industry standard, regularly used and quoted by Wall Street financial analysts.
Vincent oversees MAGNA’s market research, forecasting, strategy and advisory services. Among the regular publications of Vincent and his team are the Global Advertising Forecasts (a bi-annual report on advertising spending in 70+ countries, with five-year forecasts), the Media Economy Report, the quarterly U.S. Advertising Forecasts and the new Programmatic Report.
Vincent and I engage in a deep drill-down on the most significant influences driving the advertising economy, with particular focus on the automotive and commerce media categories. For all those interested in the state of the advertising and media economy, this week’s Legends & Leadership conversation with Vincent is essential viewing. Watch the video above.
Read the Summary of the U.S. Advertising Forecasts Update
