Podcast Ads: Are They Right for Your Business?
While listening to podcasts might not be as popular as bingeing Netflix shows, the word “podcast,” a blend of the words “iPod” and “broadcasts,” is now a common form of entertainment. In an age of mobile phones and content on demand, podcasts are an ideal medium through which businesses can advertise their products and services.
Unless you’re an avid podcast-consumer, you may not be familiar with how an ad featured on a podcast can be beneficial to your business. Today, we’ve compiled a brief guide on how to know if podcast advertising is right for your business.
1. Your Audience Is 18-54 Years Old
If your target audience falls into this broad age range—from Generation X to Z—then it’s likely you’ll reach them through podcasts. According to The Podcast Consumer 2017 from Edison Research, this statistic also tends to lean slightly more male, but this can vary widely depending on the podcast, as they are geared for diverse ages and genders, from widely-appealing themes to very specific niches.
2. You Don’t Need to Rely on Visuals
Good advertising should never be completely reliant on a visual element, but if you’re committed to a visual, then podcasting, like radio or any other kind of audio advertising, is not the right choice for your business. A benefit of podcast ads, though, is that they can impact the consumer whether they’re looking at the screen or not. If you’re prepared to create a powerful, effective podcast ad, then it will require a well-made audio file or a written script for the hosts to read on the episode.
3. You Want to Track Where Your Users Come From
In podcast advertising, you can feature a promo code so that, when listeners visit your website and use the promo code, you can see how many users came from that podcast. For example, when Casper Mattress’s ad is played or read by the hosts of My Brother My Brother and Me, a comedy advice podcast, listeners know to go to Casper.com/mybrother for a discount, and Casper then knows who came from that podcast.
4. You Want an Endorsement/Trustworthy Spokesman for Your Business
Another benefit of podcast advertising is that the hosts can read your ad, endorse it, and be the trustworthy voice that your product or service needs. The audience is more easily convinced if someone they respect or are familiar with tells them about the product. It brings an engaging, enjoyable quality to advertising that many other mediums lack.
5. You Need a More Captive Audience
According to Midroll’s research concerning podcast listeners in their network, 67% of respondents could name a product feature or specific promotion advertised on a podcast, and even 61% claimed they purchased a product or service they heard about from a podcast ad. After all, people listen to podcasts while multitasking with activities that don’t require much thought, like when commuting, doing chores, exercising, or traveling. Thus, their attention is absorbed by the podcast, making them a captive audience for your ad.
6. Your Budget Is Flexible
The one downside of podcast marketing is that the cost can be between $25 and $40 per every thousand listeners. This is two to three times the price of advertising on public radio. If you’re able to shell out the cash, then this is a great opportunity for your marketing strategy.
Podcasts are trending and becoming more popular every year—if your business meets these qualities, then this medium may be perfect for your marketing goals.