Podcast advertising: How to make the most of it

Podcast advertising: How to make the most of it

• Six million people listen to podcasts every week
• Publishers invest heavily in new medium
• Disruptor brands use podcasts to micro-target customers

A quick survey in our office shows: Podcasts are on the rise. According to a September 2018 Ofcom report, six million adults now listen to a podcast every week. A figure that has almost doubled in five years. Podcasts are particularly popular with younger listeners; 49 per cent of listeners are under 35.

Disruptor brands and start-ups like Caspar Mattress and Dollar Shave Club have grown because they invested in podcasts. They boosted user engagement, furthered their brand’s audience and reached and improved lead generation.

Three quarters of advertisers plan to increase ad spend in podcasts this year according to a study from Global-owned digital audio advertising platform DAX. Publishers ranging from Bauer to Vogue to Empire have all significantly invested in the medium. Bauer Media’s increasing focus on digital audio has been cemented by its appointment of BBC’s Maria Williams to the newly created podcast editor role.

Advertisers become friends

Millennial professionals have changed the advertising approach. As Lance Brook, our Digital Marketing Manager, says when the Caspar launched, his favourite podcast hosts sung the praises of the online mattress company. Erin Griffith writes in Fortune, “put simply, a generation that supposedly is allergic to advertising, is all too happy to accept a Facebook friend request from a mattress company or follow their favourite podcasts hosts recommendation like a friend’s”.

Advertisements through this medium are convenient, because users are already engaged. Podcasts listeners are loyal and when their favourite podcasts endorses your product and services conversion happens more naturally. Advertising becomes part of the conversation, think editorial features in a magazine.

Podcasts offer an alternative to ad-blockers

Another great bonus to advertising on a podcast to consider is that ads aren’t blocked on podcasts. Research estimates that if ad-blocking rates maintain at their current levels, publishers will lose billions by 2020. Podcasts hence provide the perfect avenue for businesses to avoid ad blocking services that hinder brand awareness.

Now, if you want to advertise on podcasts make sure to

• Pick the right podcast
• Select an ad type
• Find a way to track your ROI

For example, the podcast Joe Rogan Experience boasts a largely male-dominated audience. Joe, a former TV host turned podcaster invites guests to discuss martial arts, extreme sports and diets as well as current politics.

The podcast GirlBoss on the other hand dives into topics like women in the media, fertility issues and celebrity interviews. It advertises brands with audiences similar to theirs who are likely to enjoy the ad content they’re consuming, such as Bumble, Sephora and Pinterest.

Ads can either be played at the beginning or end of a podcast or hosts decide to discuss the product during their conversation. In opposition to traditional media placements like radio, podcasts placements can be part of a natural conversation.

Measuring ROI is still nascent

One way to measure your ROI is by offering listeners a promo code that only they have access to. Customers from other parts of your marketing strategy won’t have access to it unless they tune into the podcast so you’ll know those users engaged with your ad if they use the code. Some 95% of advertisers use a promo code in their ads to track conversions, so it’s an effective way of seeing where your ads stand.

Since podcasting is still a bit nascent from a monetization perspective, the evolution of the industry has been swift and sharp. However, the fundamental tactics needed to test and scale within the channel will remain consistent for years to come. If you want to find out more just get in touch with us.

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References:

https://www.business.com/articles/how-to-advertise-on-popular-podcasts/

https://www.raconteur.net/business-innovation/podcast-advertising

https://www.thedrum.com/news/2019/07/04/75-advertisers-up-podcast-ad-spend-2019

https://fortune.com/2017/08/23/casper-mattress-philip-krim/


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