Spotify Bangladesh | An Exciting Opportunity for Bangladeshi Brands9 min read

Spotify – the global audio streaming giant has just entered Bangladesh and it has already created a rush of blood among the music lovers of the country. This happened almost exactly 2 years after the audio streaming giant launched in India. The introduction of Spotify has just added to the developing rivalry in the music streaming services market in Bangladesh. There are various comparable services like GP Music, Yonder, Banglalink Vibe, Gaan, mJams, Shadhin Music, Imagine Radio already jarring for a fair share in this market.

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The Bangladeshi market is a growing money-mine for online businesses with 112.715 Million internet subscribers (Source: BTRC- February 2021). The local customers are getting used to online transactions lately thanks to services like bKash, Nagad, Rocket, etc. Adding on, the curse of Covid-19 has fastened this process of the audience becoming accustomed to such Mobile Financial Services.

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Brands face the constant challenge of trying to reach their consumers via the most effective channels. Social media and search marketing can be effective but there are also other opportunities that arise along with the latest trends.

With more than 345 million monthly active users, Spotify ends up being an engaging stage for marketers who need to accept the force of audio streaming to advance their campaigns. But is Bangladesh ready for such a giant?

Find more statistics at Statista

The answer is- Yes!

With the music industry waiting for a gateway to reach its potential success and an audience group who is into music, seems like the stage is set for Spotify. However, to win the battle against competitors like all the services mentioned above and YouTube, Spotify surely got some serious works to cut out. We will talk about it some other day.

What’s in for the Bangladeshi Brands?

Brands nowadays have to go through a lot of hard measures to reach the always active and on-the-go customers, thanks to the increasing battle to increase life standard and low attention span. An average customer is almost always on the go no matter where he/she resides. Hence, marketers are always on the move to find a better mousetrap or platform to make their every marketing budget count.

Introducing Spotify!

Read More:  Spotify now open for business for advertisers in Bangladesh …

 The digital marketing industry of Bangladesh is still mostly relied on Facebook and Google for most of the campaigns. Why? Simply because the audience is here. However, we believe the entrance of Spotify provides a unique opportunity to target the audience more precisely. According to Goodwater Capital, 44% of users listen to Spotify on a daily basis. So, the audience loves to spend time on Spotify and wherever the audience is, the marketers are there as well.

Source: GlobalWebIndex

What makes Spotify a lucrative marketing channel?

Well, even in a global marketing scenario, Spotify perhaps still not one of the first platforms that come into the mind of a social marketer. The majority of brands focusing on the likes of Facebook, TikTok, and Instagram first and foremost. Simply because of the mammoth audience pool of these platforms.

However, with a total of 345million monthly active users worldwide, it’s quite eminent that why some brands are expanding their attention to Spotify as a social media platform. For Bangladesh, it certainly is a recent origin if not a completely new way of marketing since we are already familiar with all the Radio Commercials. It’s just Spotify gives you more and more control over your marketing budgets.

Source: GlobalWebIndex

Let’s talk about some of the key elements that make Spotify an effective channel for marketing:

• Deep Audience Insights: The capacity to plunge into profound audience insights makes Spotify an engaging channel for marketers who are attempting to comprehend their audience. The more individuals stream audio, the simpler it becomes to investigate their habits and interests.

A brilliant example of such a campaign leveraging the deep audience insight is- ‘The Hunger Spotter’ on Spotify by Snickers. Have a look:

• A New Practice of Storytelling: To contact potential customers, creating a strong and meaningful brand voice is a must for every company out there. Knowing the whats, hows and when to communicate the right message is principal to create a positive impression on the customer mindset.
  One of the most important elements of building a strong brand is cultivating a strong, unique voice that is instantly recognizable and unmistakably belongs to the organization. Spotify is actually here to help brands to achieve that. It offers a more controlled and insightful new way of telling brand stories to its audience.
  Which industry needs a new way of storytelling?

• Personalization: Spotify streaming insight permits marketers and digital strategists to reclassify personalization. Digital campaigns are more successful when conveyed in the correct setting and Spotify content can assist brands with understanding the effect of their behavior and interest.A brilliant example of such a campaign leveraging personalization is- Running the Michelob Marathon.

The challenge was to reach health-conscious runners, Michelob Ultra wanted to build a campaign on Spotify that positioned the beer as an aspirational drink for those who want to have it all. Run, drink, relax, repeat.

So, Spotify figured that ‘Running’ was the top theme in the 54M+ workout-themed playlists created by users around the world on the platform. So, Spotify already knew about the individual runner’s tastes and interests. So, what did they do? They created a hype personalized playlist for every runner, and then reward them with a free beer after finishing the call to action.  The campaign generated 3,000 dynamic audio ads, 150,000 unique playlists with an impressive 9M impressions, and reaching 71% of runners in the market.

Want to know what was the call to action? Click here.

• Real-Time Targeting: On Spotify, streaming insights turn out to be considerably more interesting with the choice to target individuals based on the several activities during the times when a customer is actually listening to the Spotify content. For instance, if someone is listening to a soothing playlist, you can assume the person is either in a relaxing mood or trying to concentrate on something. Same way, you can target the audience when they are waking up, studying, working out, or stuck in a traffic jam.

These are our top-picks on why Bangladeshi brands should seriously consider Spotify, as their next big marketing weapon. Other than that, features like sharing across the social platforms and an opportunity to collaborate with the influencers provide Spotify an advantage to be on the major list of branding platforms among the brand practitioners.

Ad Experiences Available on Spotify

• Audio Ads: Audio ads are served between-song so there are no interruptions, and the audience is centered around your message. Supplement your sound promotion with an interactive call-to-action so that audience can tap to visit your site or application or know the offer you are presenting. You might have already listened to Berger Bangladesh’s Audio Ad on Spotify.
  
• Video Sponsored Sessions: Sponsored Sessions provides a 30-minute ad-free listening session and is delivered only when an audience experiences the sponsored video with sound on.
  
• Video Takeover: Video Takeover ads are delivered during a listening session when a user is actively browsing through the catalog to discover music and podcasts. The ads include a companion banner with a customizable call-to-action to help drive engagement. Video Takeover ads are delivered only when the screen is in view.

  

• Sponsored Playlist: Every playlist has a certain loyal fanbase. On Spotify, brands can figure out the playlist with a fanbase that matches with their desired consumer base and can sponsor the playlist.
  

• Display Overlay: Overlay is delivered when a user returns to the Spotify app. The immersive display unit is clickable and drives traffic to your brand’s website or app.
  

• Homepage Takeover: Brands can sponsor the Spotify Desktop Homepage for 24hours to deliver its required communication message. The Homepage Takeover is clickable and supports heavy media. Hence, you can include interactive modes of communication to attract the audience.
  
• Leaderboard Display Sponsorship: Brands can sponsor the leadership boards on Spotify where the ad will be the only message shown for 30 seconds. Leaderboard display ads are clickable and only served when Spotify is in view.

While deciding Spotify’s marketing strategies, as a brand it’s imperative to understand the core approaches of the platform and its available ad experiences. It’s also a must to understand the audience’s listening habits and other surroundings like buying habits and interests. From the successful Spotify marketing campaigns around the globe, we have learned that just like every other platform, it’s really important to deliver the right message to the right audience at the right time.

Spotify ads can feel like an unwanted guest if it’s delivered to the wrong audience group. However, Spotify has bridged the gap between technology sourcing for personalization and social media marketing to increase reach and if it’s used right, it can surely bring great success.

For more updates, be with Markedium.