Media Buying20/06/2023

Should your brand be investing in podcast advertising?

What is podcast advertising?

Podcast advertising enables you to speak directly to potential customers through an audio ad on a podcast episode. You can have the podcast host/s talk up your brand, or hire voice talent to help you create an ad to be placed at the beginning (pre-roll), middle (midroll), or end (post-roll) of an episode. Preroll and post-roll ads are typically about 15 seconds, while mid-roll ads go as long as 60 seconds. (This can differentiate between podcast platforms).

How many people are listening?

With an estimated 424 million podcast listeners worldwide at the end of 2022, there is no shortage of demand for quality audio content. But there is also no shortage of podcasts – Spotify alone suggests it has over 3.6 million podcasts on its platform. Don’t pick a podcast just because it’s popular. Ads that are specifically related to the subject matter of a show or episode will come off as more natural and genuine. In general, try to associate with hosts, shows, or genres that reflect the ideals of your brand or appeal to your intended audience.

Podcast advertising is projected to make up one-third of all digital audio ad spending by 2024. According to the Super Listeners report, Podcast ads are the most recalled type of ad – with 86% of participants saying they remember seeing or hearing an ad. Social Media currently sits at 80% and websites at 79%.

Despite having the option to fast-forward, 86.5% of people actually listen to podcast ads*

“75% of podcast listeners say they’re happy with a purchase they made from podcast ads” – Branding in Asia. 

What are the cons?

While there are certainly benefits to podcast advertising, there are also some potential drawbacks to consider. One of the main drawbacks is that not all podcasts have a large audience, and it can be challenging to determine the actual number of listeners. This means that it’s important to have a trusted media agency that can evaluate whether a certain podcast is worth it for your business.

Another potential drawback is that podcast advertising may not be suitable for all types of products or services. If your product or service is highly visual or requires a lot of explanation, podcast advertising may not be the best choice, as it is an audio-only medium. In this case, other forms of advertising, such as television or social media, may be more effective.

Finally, it’s worth noting that there is a lot of competition in the podcast advertising space, and it can be difficult to stand out from the crowd. This means that you will need to create compelling ads that resonate with listeners and make them want to take action.

In conclusion, whether or not your brand should invest in podcast advertising depends on a variety of factors, including your target audience, budget, and type of product or service. However, if you do have an audience out there in the podcasting landscape – you know you will be met with high engagement. As a Brisbane media agency, we would be more than happy to discuss whether podcast advertising is worth it for your brand!

Resources:

Cameron, R. (2022) The effectiveness of podcast advertising is soaring says New report, Branding in Asia Magazine. Available at: https://www.brandinginasia.com/the-effectiveness-of-podcast-advertising-is-soaring-says-new-report/ (Accessed: January 23, 2023). *

Insider Intellligence (2023). Podcast advertising in 5 charts. Retrieved 23 January 2023, from https://www.insiderintelligence.com/content/podcast-advertising-5-charts

Kaufer, K. (2022). Podcast Advertising: Is it Effective? 2022 Statistics | Ad Results Media. Retrieved 23 January 2023, from https://www.adresultsmedia.com/news-insights/is-podcast-advertising-effective/Spotify Advertising. (2023)

The beginner’s guide to podcast advertising. Retrieved 23 January 2023, from https://ads.spotify.com/en-AU/news-and-insights/beginners-guide-podcast-advertising/

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