Wavo Blog: This series shares information that’s most relevant to music marketers around the globe.

Context

In the world of marketing recorded music, there’s nothing more important than understanding the impact of marketing tactics on the streaming consumption of a release. Oftentimes, music marketers rely too heavily on intuition when evaluating marketing strategy’s impact on streaming consumption. That’s because creating a data informed analysis can be a difficult and slow moving process. The new Wavo Streaming Correlation widget solves this problem for Wavo clients who connect their own campaigns to our music intelligence platform via an analytics subscription. 

Wavo’s Streaming Correlation widget helps you understand where your advertising correlates the strongest to driving streams and listener engagement. By utilizing this widget you can quickly make informed marketing decisions, maximize the impact of marketing dollars on streaming, charting, and sales, and get back to focusing on supporting your artists.

What’s the value of Wavo’s Streaming Correlations widget?

Save time through automated analysis

Streaming correlations make it quick and easy for marketers to perform complex analyses to understand whether correlations exist between advertising and streaming results.  This immediate analysis allows marketers to save time otherwise spent manually analyzing campaign data on spreadsheets. 

Save money through data informed marketing investment decisions

Streaming correlations give marketers confidence in knowing whether digital advertising efforts are helping to drive streaming. By identifying which streaming segment is seeing the greatest impact, the widget helps marketers allocate their budgets in ways which maximize results. 

What are some examples when I would use Wavo’s Streaming Correlations widget?

Determining which campaign or advertising channel is most effective

A common use-case for the new streaming correlations widgets is to help marketers determine which advertising channel may be the most cost-effective for the campaign. Marketers can use the ‘Advertising Channel Comparison’ table to understand which platform is most cost-effective at driving those marketing results. Once it has been determined which channel is most cost effective, marketers can direct marketing spend to the advertising channel that best creates the desired results. 

Evaluating awareness objectives

Understanding streaming correlations helps marketers by surfacing correlations between advertising efforts and ‘Search’ Streams on Spotify, marketers can be confident that their advertising efforts are driving listeners to search out the song on Spotify, and are having a demonstrable effect on driving awareness for a release. 

Assessing advertising that drives traffic to a playlist

By surfacing correlations between ‘Others Playlist’ streams on Spotify and advertising results, digital marketers can demonstrate that their paid-media investments are having an impact on generating streams from the playlist which they are driving traffic towards. 

Gauging the success of music video views campaigns

Using Streaming Correlations with YouTube Results can be a great method for marketers to understand if marketing efforts are contributing towards driving music video views for an artist. If a strong correlation is found between advertising and Streams on YouTube, a digital marketer may be inclined to capitalize on this opportunity and increase their advertising budgets to further drive music video views for the release. 

How do I use it? 

The new Streaming Correlation widgets can be found on the ‘Campaign Overview’, ‘Streaming Overview’ and Digital Streaming Platform specific report pages for Wavo clients who connect their own campaigns to our music intelligence platform via an analytics subscription. For more information about how to use the streaming widget, see our help article here.

Key Takeaways

Understanding the impact of marketing tactics on the streaming consumption of a release is at the heart of marketing recorded music. That’s why Wavo created our new Streaming Correlation widget. 

Save Time Through Automated Analysis

Perform complex analyses quickly and easily by automating streaming consumption analyses. 

Save Money Through Data Informed Marketing Investment Decisions

Identify which streaming segment is having the greatest impact on streaming consumption and allocate budgets in ways which maximize results. 

Wavo’s Streaming Correlation widget is available to clients who connect their own campaigns to our music intelligence platform via an analytics subscription, and will also be available soon to our agency clients utilizing our managed services.

Written by Alex Marttinen, Product Manager at Wavo

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