Nowadays, firms of all sizes are advised to set aside a portion of their budget for online advertising. This is because it holds great potential to propel and sustain business growth. Yet in today’s digital landscape, when consumers are preoccupied with so many things and presented with so much information, creating an ad that will grab the attention of your target audience is getting harder by the day. To achieve desired sales and marketing goals, you need to continually think of ways to surprise your followers with a fresh way of promoting your products and services. If you want this for your business, then you have all the right reasons to dive into the trend of podcast advertising.
How does podcast advertising work?
Podcast advertising happens when you decide to plug your campaign in a podcast episode. You can do this by reaching out to the podcasters of your choice so you can discuss how you want your ad to appear. Ads can be mentioned before the main show starts (pre-roll), in the middle of the episode (mid-roll), or towards the end (outro). Another option is to create a native ad. This is when the host will fit your ad in the natural flow of the show. You can also choose to sponsor a whole podcast show wherein the episode will focus on the advertiser’s message. The cost of a podcast advert would usually depend on the number of listens or downloads.
Why should you invest in podcast advertising?
Have you recently taken a look at some of the stats on online advertising? You would probably agree that the numbers can look disheartening. According to a survey from Search Engine Land, about 70–80% of users ignore the paid ads on a search engine results page. This stat supports another study from Infolinks saying that 92% of online ads are not being clicked. Since so many people seem blind to banner ads, your message may have more chances of being heard on a podcast. Stats about podcast advertising look promising, showing that podcast listeners are growing. A study from Podcast Insights says that the number of people who listen to a podcast while at work rose twice as much between 2018 to 2019. A report from Statista predicts that the number of podcast listeners will be more than 160 million by 2023.
Podcasts target the right audience
Podcasts appeal to younger audiences and are most popular among the Millenials and the GenZ generations. The age range of the people in this group suggests that they are already part of the working force. Consequently, you can assume that these are people with purchasing power. Stats studying podcast demographics also show that the listeners are mostly affluent and educated. Since most of them would probably be working professionals and business owners, it is likely that they have the means to buy and subscribe. These are the kind of people that advertisers want to target because they are probably the major decision-makers when it comes to purchases in their household or company. Aside from that, these people are likely to have a wide network so they can bring in many potential referrals.
Podcasts can bring in loyal clients
Aside from the entertaining and informative content, stats show that people mainly listen to a podcast because of the host. They listen and look forward to every episode because they see the host as someone credible; an authority in a certain niche or field. This is the likely reason why stats show that 80% of podcast listeners tend to finish the entire episode. As they hang on to every word the host says, it is also likely that they will pay attention to your podcast advertising. This is in contrast to video ads and banner ads where people often skip or ignore the ad. Since listeners trust the host of the show, they are likely to believe or follow the advice they give, even the ads they deliver. The positive result is an influx of new customers that may in time become loyal clients.
Podcasts increase your chance of success
An effective podcast advertisement sticks to the mind of the viewers and at the same time bring in the desired return of investment (ROI). So far, reports are saying that you can enjoy these benefits in podcast advertising. A study from Podcast Playbook says that 67% of podcast listeners can remember the ads that they heard in a podcast episode. Moreover, 61% of these listeners went on to buy a product or service that was featured in a podcast show. Likewise, a 2019 study from Edison Research states that 54% of consumers are likely to consider buying from a brand that is advertised on a podcast.
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