Creating a successful podcast takes a lot of time, effort, and unique appeals — being promoted on one that is already well established puts you on the fast track to the same benefits without the hassle. Yes, you heard that right. It is entirely possible to use podcasts for marketing without creating one. In fact, many benefits come with it.
According to Business.com, there are as many as 62 million podcast listeners each week, and 67% of them actually enjoy ads. Their report also noted that podcast advertising yields more quality leads than website traffic, generating seven times more conversion rates. Inside Radio adds that two out of three podcast listeners in their survey said they don't skip ads.
Brands that advertise on podcasts reach their marketing goals. Here's how podcast advertising works and tips for maximizing your success.
Before jumping into any partnerships for the sake of reaching listeners, it's important to note that you don't want to reach just any listeners — you want to find your specific audience. This requires you to search out a podcast that aligns with your brand and the audience you want to reach to ensure you reach the right people.
There are millions of podcasts to choose from when it comes down to it, so there's no shortage of options that will force you to settle. There's the perfect fit out there. By using your target personas/audience demographics, you can decide which podcasts would have a similar audience to yours or an audience that would benefit from your brand.
Native advertising on podcasts is a type of podcast ad that can be read by podcasters for more of a seamless promotion. Hence, the ad is 'native' to the host's content. According to IAB research, host-read ads are the preferred ad type among podcast listeners, with 63.3% selecting host-read ads as their favorite and 35% choosing announcer-read / pre-produced ads.
Remember that ads should be personalized to the podcast/podcaster's audience — seamless, integrated, engaging, already tuned into the podcast's audience. This will maximize your efficiency, as podcasts are definitely more receptive than radio and TV ads, where people are more likely to change the station/channel. Research shows that while 43% of people say they're receptive to podcast ads, only 14% say the same about TV.
There are three types of options for ad placement you will need to be familiar with in podcasting:
Listeners may skip ads before and after their favorite shows, but mid-roll ads have been shown to be substantially beneficial for advertisers. In fact, Marketing Dive reports that mid-roll ads have an average of 90% completion rate and an impressive growth YoY (year over year) of about 110%. This is significant since pre-roll only has a 78% completion rate and 14% YoY, and post-roll only has a 65% completion rate and 74% YoY.
One of the best reasons podcast ads are effective is due to listeners' love and trust in their favorite podcasters. Many listeners feel connected to podcasters, so they're more likely to pay attention and respond when they sponsor a brand. This gives you the same trust by association since they value the opinion of hosts they're listening to regularly.
According to PR Newswire, "Listeners trust their podcast hosts highly, prefer host-read ads, and look for creative, informative, humorous, and integrated podcast experiences. They want to listen to authentic hosts, who feel like a friend, and share the users' passions and beliefs." When you find the right mix of these qualities and the right audience, you'll find the perfect podcast for your advertising.
Podcasts continue to be a superpower for advertising, and research supports it. According to Forbes, a recent survey found that more than half (54%) of super listeners (people who listen to an average of five hours or more a week) said that hearing a podcast ad influenced them to purchase more than any other channel. This number is up from 46% the year before and is expected to continue rising.
This means that due to the connection and trust listeners have with podcasters, they are more likely to check out or buy from a brand they hear about. You can take full advantage by offering an exclusive discount just for podcasts to encourage more sales. You can also work with CoxNext to ensure you're maximizing your podcast advertising campaigns with the right tactics and practices for your goals.