Advertisers Have Found a Secret Weapon and it’s Called Podcasts
Audiences and advertising are finding common ground: a passion for audio.
Already last year a study by Bridge Ratings predicted that as marketers gain more and more confidence in podcasts, the market spend for the platform will grow at a consistent 25% a year through to 2020. Similarly, Advertising Age predicts that advertisers will push for their content marketing strategies to produce audience-oriented content that aligns with their brand’s purpose and values.
All this culminates into an undeniable reality: podcasting advertising is the way to go.
The Age of Branded Podcasts
A big trend that is gaining momentum in 2017 is branded podcast. Many businesses have started to create their own podcast as an alternative to paying for ads in external podcasts. Tech entrepreneur Anthony Frasier explains that “what makes branded audio content great is they allow brands to create an entire experience.”
These 4 very different branded podcasts show just how creative businesses can get:
- One of the first of these types of podcasts to reach #1 on iTunes was The Message, a collaboration between General Electric and Slate Magazine. Each episode brings a new installment of fictional Sci-Fi tale that revolves around sound technology.
- The aim is to associate the brand with a powerful message. That’s how Starbucks CEO Howard Schultz and Starbucks executive producer Rajiv Chandrasekaran launched Upstanders, a podcast that celebrates true American spirit through stories of compassion, optimism inspiring individuals.
- The key is also understanding your audience and expanding the brand’s ethos into everyday life. The office chat platform Slack’s hugely successful Variety Pack is all about great team-building, culture, innovation and everything in-between.
- What, even banks are in on this?! Umpqua describes itself as “the West Coast’s largest, and most unconventional, community bank.” So it’s unsurprising that its podcast Open Account addresses in very frank terms one of American culture’s greatest taboos – money.
It Pays to Speak Up
Many other businesses are finding that it pays to invest in audio advertising on podcasts networks.
A recent report from Triton Digital revealed that 65% of podcast listeners would be more willing to buy products from companies that they’ve heard advertised on their favorite podcast.
The same study, that includes data of nearly 1,000 podcast fans, found that a whopping 45% of listeners claimed they visited a sponsor’s website after hearing a sponsorship message or advertisement during a favorite podcast.
What’s the Secret to This Success?
Marketing strategists and data analysts alike have no doubts over the particular pulling power of podcasts.
As Anna Bager from Interactive Advertising Bureau puts it, “Podcast audiences are devoted fans whose enthusiasm carries over to the companies that sponsor their favorite shows. That ‘halo-effect’ is impressive. It is no surprise that more and more brands are including podcast strategies as part of their marketing mix.”
And the beauty of it is that it taps into a hard-to-reach audience – unlike other advertising avenues.
Speaking recently at SXSW panel on the “Evolution of Podcast Advertising“, Market Enginuity’s chief podcast strategist Sarah Van Mosel pointed out that 70% of podcast fans usually avoid visual advertising by using ad blockers online and ad-free services like Spotify subscriptions. But accepting audio content comes more naturally. “It’s a market that other kinds of digital media just aren’t penetrating.”
So do some forward thinking for your brand and step into action with an audio advertising strategy that has podcasts at the forefront.