Podcasts have emerged as a powerful tool in the realm of marketing, providing companies with a unique opportunity to expand their reach and engage with audiences in a more intimate and authentic manner. In the current landscape, podcasts offer a plethora of benefits for brands looking to make a significant impact. One of the key advantages lies in the ability to establish thought leadership and credibility within a specific industry or niche. By creating compelling and informative content, brands can position themselves as experts in their field, gaining the trust and loyalty of listeners.
Why You Should Advertise on Podcasts
Advertising on podcasts is a highly effective marketing strategy that offers a unique opportunity to reach a highly engaged audience. Podcast listeners are often deeply interested in the content they consume, which makes them more receptive to advertising messages. By incorporating your brand into a podcast episode, you can leverage the trust and credibility that the host has established with their audience.
Moreover, podcasts provide a platform for authentic storytelling and in-depth discussions, allowing advertisers to connect with listeners on a more personal level. This intimate connection can lead to higher brand recall and a greater likelihood of converting listeners into customers. Additionally, podcasts offer a targeted approach to advertising, as you can select shows that align with your target demographic and interests, ensuring that your message reaches the right audience.
67% of podcast listeners enjoy ads.
Podcasts overall have 62 million listeners each week.
Podcast advertising yields leads with a conversion rate seven times higher than leads from regular website traffic.
If you’re an avid podcast listener, you’ve likely encountered advertisements for brands you hadn’t heard of before but are now familiar with. Blue Apron, Squarespace, Loot Crate, Audible and dozens of other brands don’t regularly advertise on traditional media, but we’ve grown accustomed to hearing our favorite podcasters tout these products and services.
Most of these companies were mere startups when they began advertising on podcasts, and they’ve since exploded into popularity. According to the Global Ad Trends report by WARC, podcast advertising is projected to be worth $1.6 billion by 2022, as more and more marketers pour money into advertising with podcasts.
According to data from Edison Research and Triton Digital, over 62 million people listen to podcasts each week. That’s a huge jump from the 19 million who were listening in 2013. With those numbers, it’s hard to deny that podcasts are on the rise and can have a huge influence on consumers’ choices.
On top of the mobility of podcasts (since they’re primarily accessed on smartphones), WhyPodcasts.org says that ads on a podcast are likely on those episodes permanently and will be heard by any listeners replaying those episodes or bingeing the series.
Benefits of podcast advertising
A great benefit of advertising with a podcast is that there is such a wide variety of shows and content that it would be easy to find one that’s compatible with your company and products. Podcasting is easy, but it isn’t free, especially if showrunners maintain costs of hosting and upgrading equipment. The larger the following, the more expenses a show has, like hiring editors or renting studio time.
Another advantage is the unique type of advertising available on podcasting. An IAB study found that listeners are more responsive to ads read by the podcast hosts than pre-produced ones, much like any type of endorsement. Listeners trust their favorite podcast hosts and appreciate their personal takes and banter on a product or service. It’s become customary for brands to send the hosts a sample or example of the product or service they’re advertising so they can talk in depth about it and their experience with it. Consumers are more likely to respond to sincere and authentic conversations about a product than to prewritten copy and talking points.
It’s also common to provide listeners of that specific podcast with an exclusive discount in the form of a code. This is a great way to both incentivize listeners to consider your company and gauge the effectiveness of your ad on that podcast, as it allows you to see the number of conversions with that specific code. In the IAB study, about 67% of listeners could recall an actual product feature or promotion mentioned in a podcast ad.
Podcast advertising provides friendly or warm leads. This makes them more likely to purchase your product or service. These leads are similar to those of affiliate marketing or word-of-mouth advertising. According to marketing expert Hailey Friedman, podcast leads’ conversion rate is seven times higher than the rate of standard website traffic leads.
Podcast advertising is a quickly growing market. According to the WARC report, the podcast advertising industry is currently worth $855 million, expected to reach $1.6 billion by 2022. That’s still small compared to digital advertising’s worth of nearly $130 billion, but this allows those who do advertise on podcasts to stand out. You’re less likely to be drowned out by a multitude of competitors.
Perhaps the biggest benefit of podcast ads is that listeners enjoy them. Edison Research found that 67% of podcast listeners enjoy hearing the ads, compared with just 6% for TV and radio audiences. The WARC report said that 78% of listeners are comfortable with hearing ads on podcasts to support free content. They tend to be memorable and enjoyable, which can give the consumer a more positive feeling about the company.
Getting started with podcast advertising
Fortunately, it’s not hard to start advertising on podcasts. You can make a pre-produced ad for the podcast to insert at the beginning, middle, or end, or you can leave it up to the podcast hosts themselves to advertise your company, providing only a few major talking points you’d like them to mention.
As for finding a podcast to advertise with, several services connect advertisers and podcasters. One of the largest is Midroll, which works with big advertisers like Squarespace, Allstate, and HBO and popular podcasts like WTF with Marc Maron, Nerdist, and My Favorite Murder. Many popular podcasts are part of larger networks such as Earwolf, NPR and Carolla Digital, so you can also contact these parent companies for advertising purposes.
When considering advertising on a smaller podcast that operates independently from a network, it is essential to initiate the process by exploring the podcast's website or social media platforms to locate the contact information. This initial step will enable you to establish direct communication with the podcast host or advertising representative. Subsequently, it becomes crucial to draft a comprehensive contract that outlines the terms and conditions of the advertisement agreement. The contract should clearly specify the duration for which the advertisement will run, the content that the ads should encompass, and the agreed-upon payment structure.
By delving into the specifics of the contract, you can ensure that both parties involved are aligned on the expectations and deliverables of the advertising campaign. This detailed approach not only fosters transparency but also minimizes the likelihood of misunderstandings or disputes arising throughout the advertising process. Furthermore, discussing and finalizing these details in the contract phase sets a solid foundation for a successful and mutually beneficial partnership between the advertiser and the podcast.
One notable advantage of advertising on smaller podcasts is the affordability of the advertising prices. Unlike larger networks that may demand exorbitant fees for advertising slots, independent podcasts often offer competitive rates that cater to a diverse range of advertisers. This cost-effectiveness presents an attractive opportunity for businesses or individuals looking to promote their products or services to a niche audience without exceeding their advertising budget.
In conclusion, navigating the process of advertising on a smaller podcast involves proactive research, effective communication, and meticulous contract negotiation. By following these steps and leveraging the affordability of podcast advertising, advertisers can tap into a valuable marketing channel that enables them to reach a targeted audience and achieve their advertising objectives efficiently.
Podcast Advertising Pricing and Costs
Podcast ad network AdvertiseCast offers a variety of payment tiers tailored to suit different needs and preferences based on factors such as the length and placement of the ad, as well as the podcast's audience size. This flexibility allows advertisers to choose the most suitable option that aligns with their budget and marketing goals. For instance, a 30-second pre-roll ad is priced at $29 for every 1,000 listeners the podcast garners, with discounted rates available for larger listener bases. However, it's important to note that advertising on more popular podcasts may incur higher costs due to their wider reach and engagement levels.
Podcasting has emerged as a valuable marketing channel that offers a unique opportunity to connect with audiences in a more personal and engaging manner. Despite being initially overlooked, the podcasting landscape is rapidly evolving, with more brands recognizing its potential as a powerful advertising platform.
As the medium continues to grow in popularity, so does the surrounding advertising industry, presenting advertisers with a chance to tap into a dedicated and captive audience through collaborations with popular podcasters and innovative marketing strategies.
Do You Need a Podcast Agency?
Partnering with an agency specialized in podcasting can bring a wealth of benefits to your brand. We are the leading Los Angeles podcast agency and your expert partner for podcast production, marketing, interview booking and ad spot planning.
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