Podcast Advertising in 2021: Three Resolutions for Better Campaigns
Actionable advice for the New Year.
The podcast industry is showing no signs of slowing, and with that, the advertising landscape is set to become increasingly competitive and more complex. So what’s it going to take to navigate your next podcast ad buy (or maybe even your first), and getting it to deliver results?
Thanks to 2020, we’re giving the predictions a rest. If last year taught us anything it’s that anything can happen. Instead, we asked our team what advertisers really need to know for 2021.
“Set and communicate your goals.” — Don, CRO
Direct response advertisers have long-ruled the podcast space, but that’s changing. Traditional campaigns from brands like AT&T, Bank of America, and McDonald’s are joining the ranks of podcasting’s biggest spenders. This also means that campaign goals and objectives are evolving too.
Set up for success by setting clear goals — build brand awareness, educate on a new product, generate app downloads, or drive a holiday promotion. But can that campaign goal be measured? The good news is there are more ways to measure success beyond promo codes, whether that means enabling pixel attribution or commissioning a brand lift study.
Whatever the ultimate objective may be, communicate that goal and the KPIs you will be measuring to your partners, and be open-minded to recommendations. More on that in a minute.
“Refine your tool kit.” — Cathy, Founder & Co-CEO
With literally over a million podcasts in existence, the fragmented podcast landscape has made discovery a challenge for buyers. This is the year to refine the tools you keep in your back pocket to gather intel and find your audience with the right shows. What kind of data will help you make smarter buying decisions?
Competitive tools like Magellan AI give insights into where your competition is spending and identifies the types of content that work best. Rankers like Triton Digital’s Podcast Metrics Report offer independently validated data on the top shows by downloads and the largest ad sales networks. Qualitative research sourced from the Nielsen Podcast Buying Power Service digs deep into who’s listening and goes beyond demographics to reveal what will resonate with them the most.
Check out our Podcast Buying Guide where we demystify the resources available and break down the information they provide.
“Don’t fear campaign tests.” — Ilwira, VP Digital Sales and Partnerships
Campaign tests are your friend — and your opportunity to experiment with podcast titles to find the right host for bringing your messaging to life. Testing different genres and ad units opens the door to otherwise overlooked opportunities.
For example, moms may listen to parenting podcasts, but they are also voracious consumers of the true crime genre. While fans of history podcasts, who are more likely to experience a major life event in the next year, may be interested in your insurance product after all. Be receptive to different genres and you may find success in unexpected places.
Test different units too. Multiple ad placements (eg. pre-roll with mid-roll) can result in higher conversion rates if your goal is to drive site visits or purchases, according to Podsights Conversions Benchmark Report. What’s the baseline for a reasonable-sized test? Minimum of three weeks at 20–30% share of voice.
