Possibilities Provided by Podcast Advertising

By Jonathan Baker

So, your brand has a strong digital presence thanks to an eye-catching website and engaging posts on one or more social media platforms. You complement this with print, television, and possibly radio ads to appeal to more “traditional” customers. Have you considered podcast advertising?

Popularity of podcasts

Let’s state the obvious: Podcasts are popular. Whether tuning in to learn about a specific topic or simply have something to hear while unwinding after a long day, the number of people who listen to podcasts is on the rise.

  • According to Statista, over 40 percent of the U.S. population tuned in to a podcast this past March, which was three times that figure from 10 years ago. (Imagine how many people hear—and respond—to ads promoted on podcasts.)
  • In Digiday, Jenny Haggard from Spotify Advertising noted that people listen to podcasts for more than seven hours per week.
  • Matching with the figures above, podcasts are projected to go beyond $2 million in ad revenue.

Where podcast advertising is headed

As the figures above prove, if YouTube is the leading platform for video ads, podcasts are the audio equivalent. Curt Steinhorst, writing for Forbes, calls podcast advertising “a front-runner” in marketing strategies that may surpass even traditional and digital methods. How is this possible? And what should marketers be aware of to maximize the potential of podcast advertising?

Podcasts present a personal touch

Podcasts are like exclusive clubs that are dedicated to any and every topic of interest. Additionally, a podcast host whom listeners tune in regularly to hear becomes someone they trust. This means they are likely to believe in brand recommendations made by this host. Here is influencer marketing in action by way of podcast! (Indeed, Jenny Haggard notes that the hybrid title of “podfluencer” is catching on in this audio world.)

A quick journey from listening to acting

If listeners are especially engaged by a podcast—presented by a host they like and trust—their interest may carry over to initiating research and even purchasing a product or service from either a pre-recorded ad or copy read by the host. (Copy read live by the host is actually very effective and demonstrates the power of connecting with the listeners. Read “Keeping podcast audiences happy” for more details.)

Today’s customer

There is strength in numbers, and the great number of young people who make up Generation Z are today’s customers. And the venue that Generation Z frequently relies on to obtain all kinds of information—including brand messaging—is the audio innovation of the podcast. The possibilities of connecting this audience to more brands via podcast are limitless.

Taking the observations noted above into account, podcast advertising may provide the quickest, shortest path in the customer journey from brand awareness to purchase.

EGC knows podcasts

Yes, podcast advertising will continue to gain interest—and listeners—for some time. We can vouch for the power of podcasts, as evidenced by our own series, “EGC’s Marketing Edge,” which is available on the following channels:

Apple

Spotify

YouTube

iHeartRadio

Amazon

Thinking about podcast advertising for your brand? Get in touch with EGC. We’re ready to help you tune in.