Audible CMO John Harrobin discusses how the company dominates the $2.1 billion audiobook market by expanding beyond traditional audiobooks to become an original content creator. He highlights their strategy of offering exclusive audio content and collaborations, redefining competition as anything that occupies a customer with "eyes occupied, mind free." This episode offers insights into content strategy, understanding customer consumption habits, and effective marketing in a competitive digital landscape.
Key takeaways
Audible's strategy of creating exclusive audio content and original productions (e.g., with The New York Times) is key to expanding market share beyond traditional audiobooks.
Define your competition broadly; Audible considers anything that occupies a customer's 'eyes occupied, mind free' as a competitor, informing their content and marketing decisions.
Analyze customer consumption habits: understand that while many loyal customers prefer one format, specific content types (like non-fiction) are increasingly consumed via audio during commutes for productivity, not just escapism.
For subscription-based businesses, acting as both a platform and a content producer can create a powerful ecosystem that enhances customer loyalty and expands offerings.
Emphasize brand purpose in marketing to resonate with consumers, a growing trend that can differentiate your brand in a crowded market.
Amazon doesn't just dominate the market for paperbacks and e-books. Through its subsidiary Audible, they've got the audiobook market (worth $2.1 billion, according to Bloomberg) cornered, too.
They're also not limiting themselves to putting existing books on tape. "We want to give our customers experience beyond traditional audiobooks," said Audible CMO John Harrobin. The company's range of audio products -- like Audible-exclusive books and listenable stories from The New York Times -- means that "competition is anything that you can do when your eyes are occupied but when your mind is free."
Many of Audible's subscribed listeners consume 80% of their content in just one format, whether e-book, print or audio. "But several people are choosing to listen to certain types of content via audio," said Harrobin. "For example, many people that are e-book readers listen to non-fiction on audio, because they do it in their commutes. It's not that escape moment for them where they're relaxing and reading."
On this week’s episode of Making Marketing, Harrobin talked about how the company serves as both a platform and a creator of original content, the reason brands are so bent on selling "purpose" and a serendipitously-named Kentucky Derby contender.
Audible's strategy of creating exclusive audio content and original productions (e.g., with The New York Times) is key to expanding market share beyond traditional audiobooks.
What does this episode say about dtc strategy?
Define your competition broadly; Audible considers anything that occupies a customer's 'eyes occupied, mind free' as a competitor, informing their content and marketing decisions.
What does this episode say about customer retention?
Analyze customer consumption habits: understand that while many loyal customers prefer one format, specific content types (like non-fiction) are increasingly consumed via audio during commutes for productivity, not just escapism.
What does this episode say about amazon & marketplaces?
For subscription-based businesses, acting as both a platform and a content producer can create a powerful ecosystem that enhances customer loyalty and expands offerings.
What does this episode say about brand & content?
Emphasize brand purpose in marketing to resonate with consumers, a growing trend that can differentiate your brand in a crowded market.
