When it comes to a fresh marketing approach, podcasts are a wonderful option. In addition to being diverse and effective tools, podcasts also provide valuable information to listeners. In addition, with numerous hosting platforms accessible, you may increase your brand’s visibility many times over with multiple hosting platforms at your disposal. Every marketer ought to create their own podcast if they have so much potential in one marketing channel.
Do you want to get an idea about podcast consumption in the US? Podcasts, which were formerly considered a specialist genre, have now entered the mainstream media scene. Between 2009 and 2019, the percentage of Americans who have ever listened to an audio podcast more than doubled, from 22% to 51%.
A podcast consumption study conducted in 2021 found that 41% of US people have listened to a podcast during the month of June, a figure that had more than tripled over the previous decade. Weekly podcast consumption has also risen dramatically, with some of the world’s biggest podcast publishers achieving millions of unique streams and downloads each month.
How to Advertise your Podcast
There are a few podcast promotion strategies that we may try to advertise our podcasts.
- Identify target audience: Identifying your target audience is the greatest and most crucial place to start once you’re ready to start advertising podcasts. Once you’ve determined who you’re going to target, what your value proposition is, and which podcasts will reach your target audience, you’re ready to discuss your choices with the podcast presenter or their production team.
- Social media promotion: With so many social media platforms available nowadays, you can simply advertise your podcasts in a variety of ways. Rich media such as videos, pictures, teasers, GIFs, and more may be shared. You may reshare the podcast episode as many times as you like before or after streaming it. You may also use video sharing services to advertise your podcast in advance by releasing behind-the-scenes footage.
- Releasing episodes on launch day: A multi-launch strategy is the best way to market a podcast. According to research, the minimum number of podcast episodes required for a successful launch is three. You must at least release three to five episodes on the first day of your podcast launch. It is even better to build an audience before launching your podcast.
- Converting to YouTube video: Promoting your podcast on YouTube, especially if you can convert it to a video, will be an excellent advertising approach. We will get a number of advantages as a result of this, including a video to post on other social media platforms and automated closed captioning and transcripts for you to utilize. According to research, video-rich pages are 53 times more likely to appear on the first page of Google search results.
- Giveaway contest: One of the most effective methods to promote your podcast is to have a social media giveaway contest. Request that people write you a review or tag you in their stories and posts by tagging their friends. In exchange, you may send them t-shirts, magnets, stickers, product discounts, or if you’re on a tight budget, just a shout out at the end of your podcast or a special mention in the program.
What Podcast Advertising Metrics you should look at
Podcasts are one of the most entertaining ways to communicate information. Because of the aural aspect of podcasts, listeners tend to pay attention to every word, making them an ideal audience for advertisers looking to promote their products.
There are over 90 million listeners who may be reached by advertising on the internet via podcasts in different forms. Before, during, and after the podcast, pre-recorded commercials play, while others are read live by the podcast hosts. Podcast advertising costs between $10 and $25 per thousand impressions (CPM), making it comparable with radio advertising.
In the last nine years, the number of Americans who listen to podcasts has nearly doubled, and this trend is expected to continue for the foreseeable future. And, as the popularity of podcasting has grown, a growing number of advertisers are taking advantage of the trend to promote their products and services.
According to Bridge Ratings’ Podcasting Audit Study, advertisers are anticipated to spend $500 million on podcast advertisements in 2021 — a trend that follows considerable historical growth in the industry.
How to go about Podcasts Ads
Advertisers can run two types of podcast ads; the 15-second pre-roll and the 60-second mid-roll.
- Pre-roll advertisements are generally 15 seconds long and appear before the main content of the show. Here, the host will discuss the advertiser’s product or service before diving into the podcast content.
- Mid-roll commercials are often inserted towards the middle of the broadcast, generally, after the listener has completed 40-70% of the show’s material. The host will discuss the advertiser’s material around the midway point.
Podcasting is an excellent method to advertise your business and products, but there are several pitfalls to avoid if you don’t know what you’re doing. There are three critical steps to a successful podcast advertising campaign that every business should be aware of:
- Identifying or producing podcasts that will appeal to their target audience.
- Recognizing the characteristics of the desired audience
- Tailoring the ad to the brand’s conversion objectives
Brands who understand these strategies will almost certainly discover that their podcast advertising outperforms those on other platforms. It is also important to establish the basis for locating podcasts that are a good fit for your brand or product, as well as determining what your ad will offer to your targeted listeners.
there are several chances to engage with niche audiences relevant to your industry because there are a number of podcasts available. That is why it is critical to look for podcasts that are relevant to your brand or industry.
When an advertisement is related to the theme of a podcast series or episode, the listener may find it more natural. It’s also wise from a strategic standpoint since listeners who are engaged in this area may identify with the problems that your business seeks to tackle.
How to use Podcasts as a Marketing Strategy
There are many reasons why you should use podcasts as a marketing strategy. Some of them are discussed here to give you a good idea about it.
- Easily accessible
Although podcasting was once popular among techies, it has since expanded to the general population. Because of the widespread availability of the internet, it is now feasible to connect with hundreds of podcasts from all over the world in an instant.
- Effective and affordable
As podcasts have grown in popularity and more and more people have started watching and listening to them, businesses have started podcasting campaigns. The cost of producing a podcast is quite low. All you’ll need is a nice pair of headphones and a good quality microphone.
- Brings traffic to your business
Through podcasts, you may reach out to a diverse audience and acquaint them with your company and brand. If you provide amazing content, people will subscribe, listen on a regular basis, and eventually convert to devoted consumers.
- Alternative to video and written content
A great way to engage your listeners without boring them with video or textual information is to use engaging audio content. Listeners may also listen to your podcasts while commuting to work or other places.
- Reusing the podcast
Podcasting allows you to produce new material that may be used in various formats. Podcast content, whether prepared, utilized, or unused, may be converted into a video, pictures, text, and advertising.
When utilized properly with detailed audience analytics and analysis, podcast advertising can help companies captivate an engaged audience and build not only brand awareness but instant income as a direct response channel. Advertisers may build a successful advertising campaign by customizing their commercials to a certain audience or demographic, or by matching a product to a podcaster in a related specialty.
Advertisers may use podcast advertising to get into this rapidly increasing medium, maximizing ad expenditure and reaching a new, varied audience. While you plan to amplify your podcast advertising efforts, do give a read to our blog on how to effectively promote your business on LinkedIn.