Podcasts have been increasing in popularity year after year. There are currently over 2 million active podcasts with about 125 million American’s tuning in every month. With numbers like these, no wonder businesses are trying to get a piece of the podcast advertising action. If done properly, podcast advertising can be an extremely lucrative option for business by reaching a wide-ranging yet hyper-targeted audiences.
What is podcast advertising?
Podcast advertising is a relatively new technique of advertising on digital audio platforms to promote a particular product, service, or business. The host strategically places the ads throughout the podcast as promotional breaks where the host reads an advertisement for a brand, or uses a pre-recorded message inserted into the audio. One of the most common ways podcast advertising occurs is though a podcast sponsorship. Businesses can pay for their product, service, or business to be promoted during the podcast, along with any personal experiences the host shares with the product or service. Podcast advertising is also ideal for promoting discounts or promo codes for listeners to use when they try the suggested product or service.
Is podcast advertising effective?
It is hard to deny that podcast adverting is effective. According to the Edison Research Super Listeners 2021 report, podcast ads are the most recalled type of ad, generating more than 4 times better brand recall in consumers than displayed ads. This means that podcast listeners are actively engaged in the podcast, so they easily remember hearing advertisements included in the podcast. Not only are podcast advertisements memorable, but they are also effective in creating engagement. The Edison Research Report found that 74% of podcast listeners visited a company or products website after hearing it on a podcast and 65% have purchased after an ad. Listeners rarely or never skip podcast ads like they would on YouTube or Instagram. This is key for advertisers because they can get maximum exposure to an already hyper-engaged audience.
Why do podcast advertisements work?
The secret to why podcast advertising is so effect comes down to the medium – audio. Audio content is intimate which makes it highly effective for conveying information, which in turn leads to high engagement. If you haven’t been convinced by the compelling statists above, there are few other reasons why podcast advertising is so successful:
- Podcasts have a broad reach. The number of podcast listeners is increasing yearly which means the pool of listeners is growing and becoming more diverse. This gives business access to a wide range of audience demographics and hundreds of different niches to reach and target.
- Podcast hosts build up a loyal following where the listeners feel they have an intimate relationship with the host. This translates to trust, making the promoted ads feel much more relevant to the listeners. A credible host that listeners trust and respect combined with a highly engaged audience is a recipe for success for marketer and advertisers. Podcast hosts have major influence over their listeners which businesses can leverage to their advantage.
- Lastly, podcasts reach a hyper-targeted audience. The listeners have the power to choose the content they want to engage with, making it easy for businesses to find a niche that is interested in what they have to offer.
If you are looking to evolve your multi-platform marketing plan to enhance your brand awareness and message recall among consumers, then podcast advertising is the next step for you! Schedule a free consolation with Oster and Associates to help you develop the perfect podcast advertising campaign tailored specifically to your brand.
