It comes down to one thing: the audience is there. Meaning, advertising on Pandora will certainly get you and your message in front of users. But, before you dive in and commit part of your valuable marketing budget to Pandora, here’s something else to think about.
What is your objective?
We’ve previously discussed the importance of choosing the correct objective on Facebook advertising, but unlike Facebook, Pandora doesn’t give you a vast list of options. To help, we evaluated Pandora to see if it’s right for your campaign based on one, simple question: What is the objective of your campaign? Is it awareness, or is it an actionable user task/behavior (i.e. website visit, offer sign-up, etc.)? The answer to this will help you decide if Pandora is right for you.
If you answered the previous question with awareness, then this conversation is going in the right direction. Pandora advertising is great at getting your message in front of your target audience and provides very competitive CPM (cost per thousand) impressions, meaning that people are going to be aware of your message.
Actionable User Task/Behavior
If the goal of your campaign is something more than just making users aware of you, or if the product you’re advertising will be tailored to elicit a user task, you’ll likely want to measure the CTR (click-through rate). CTR is defined as the number of users who click on your ad out of the total number of users who saw it (clicks ÷ impressions = CTR). If this is the case, then Pandora may not be the best option to allocate money toward. Pandora will undoubtedly disagree with what I’m about to write, but in my experience, there are more efficient and cost-effective ways to advertise that will result in a higher CTR.
Pandora certainly has its place in the advertising world, but it is always important to remember what your overlying objective is and form your campaigns around it. Like traditional radio, Pandora will certainly get your message out there, but if your objective is an actionable user task, in most cases, Facebook ads and PPC ads will yield better results.
If you have any questions, or need help putting together a campaign to accomplish your advertising objectives, feel free to reach out at http://b-y.net/contact