Do You Need A Podcast Advertising? Here’s Why Your Business is Podcast-Ready Now!
This post is originally published on THE REVOLUZIONNE. To subscribe to Partner Insights, click here.
112 million Americans have listened to a podcast and 67 million of them listen every month. As podcasts begin to replace radio, businesses are now looking at this as an opportunity for them to reach a wider audience.
As a small to medium enterprise business, it is always challenging to know if a digital marketing investment like this is worth it. However, we have to understand that as the attention of your consumers shift from the free coupons and flyers you give away to Instagram posts and Facebook, it should be easy to convert your brick-and-mortar advertising spend to digital efforts.
As for the question, “Is my business podcast ready?” the answer is: YES.
PODCAST ADVERTISING IS FOR EVERYONE
As the podcast popularity grows steadily, the advertising platforms for podcasts have also increased. This means, there are multiple ways to connect your brand to a podcast.
There are podcast advertising platforms Blurbrry that opens up opportunities for brands to connect with podcasts. The good thing about these advertising networks is they have different formats for advertising on big and small podcasts. This way, it works quite similar to Google ads where your budget is focused and distributed on your target market.
Just like the example above, if you’re spending $1,000 on t-shirt giveaways, you can simply convert this for the possible reach you can have when you get your brand on a podcast.
Podcasting is not for big enterprises alone. This should be taken advantaged of of SMEs since podcast audience is quite specific. If your brand relates to the audience of the Podcast based in New Hampshire that’s focusing on local produce, then it’s worth taking into consideration.
The one thing most SMEs fail to recognize is their ability to reach on different digital marketing approaches like enterprise brands are doing most of the time, thinking that they do not have the capacity nor the time to make strategies this way. However, even with smaller budgets, advertising and reach opportunities like podcasts should be considered especially if your audience listens to them.
CONNECTING IS THE KEY
Podcast advertising is not as measurable as content marketing of Google and Facebook advertising. However, it has, just like any other traditional advertising, a subliminal messaging to the audiences.
Most podcast listeners advocate to this platform because this allows them to do other activities like house chores or driving while still getting that learning opportunity from each show. Unlike in reading articles or watching video clips on social media, the attention does not come from the visual senses, but from the auditory ones. That means the information is processed in a different way, but is remembered longer than banner ads.
According to Slate, podcast advertising has driven more significant awareness than banner ads. The Slate Group Studios has conducted a “custom methodology” to measure and understand the impact of podcast advertising and their results were impressive.
The results offer valuable, statistically significant evidence of podcast advertising’s effectiveness. In short, the study found that podcast units were more than twice as successful than banner ads in driving statistically significant lifts in Brand Awareness (+14pp) and Ad Recall (+21pp).
“While our brand study shows that Wealth Wits was a tremendous success overall, we’re truly elated that our results offer some much-needed data on podcast ad effectiveness,” said Jim Lehnhoff, Vice President, Slate Group Studios. “At Slate, we’ve long understood the value of podcast advertising, but the data to back this up is often elusive. Because of our custom methodology, the industry at large now has some hard numbers to point to, which we hope will help entice even more advertisers to invest in this creative and highly effective medium.”
To conclude, not only was podcast advertising significantly more effective, but it also shows higher likeliness for audiences to respond to. Brands that advertise on podcasts are treated with more credibility and trust than those of the banner ads’.
DISCOVERY JOURNEY
Whatever the scale of your company, discovery and research is important in being able to get the right podcast advertising platform. Just like what was mentioned above, you could initially get help from bigger platforms that can customize the podcast you associate with.
You can also discover and actively reach out to independent publishers or podcasters to know how you can work with them.
For example, in THE REVOLUZIONNE PODCAST, we have higher control over our brand partners since we host it on our own platform. This means, there is no chance your brand would only appear in 1 out of 5 listeners. At the same time, our podcast only has 1 brand per episode so we do not bombard the readers with annoying and repetitive mention of the brand. This just lessens the effectiveness of the sponsored branding. Lastly, the audio is recorded in one full swing, which means this is the version that gets downloaded by our listeners and embedded on our platforms. So, instead of the 1-minute temporary reach for some ad platforms, ours is forever linked to that specific episode.
Each podcast show and platform has their own way of connecting with advertisers and brands. As an advertiser, it is important to undergo this discovery process, especially if you are new to the podcast world. Connect with the platform or the show to get more information on how your brand will be able to work with them. Once you have chosen your platform, watch out for that episode and promote it on your audience as well. This way, you can entice old customers as well as new ones. They get to know your brand and what you stand for just by associating with a (or more) podcast episode.
CONCLUSION
Podcasting is a rising platform. There’s even a new site, Podchaser, that is aiming to become the new IMDB of podcasts, collecting and rating the world’s podcast library in an orderly manner. This just proves that many enterprises are preparing for the podcast boom.
At the same time, more and more people are subscribing to shows every week. As an SME, this is the time to take your opportunity to get on the front seats before it rises to the point where everyone is doing podcast advertising.
Want to know more about podcast ads? Reach out to us via hello@rvzionne.com
