Podcasts are more popular than ever. It’s estimated that over 60% of the world’s population listens to them, with the number of listeners increasing year on year. From weekly sports chats to investigations into cold cases, there is a topic for everyone.
Do you know what else podcasts are great for? They’re an effective platform for businesses to advertise their brand.
What Is Podcast Advertising?
Podcast advertising is just a type of ad that appears on a podcast. They can come before the pod, during, after or read out by the host. The use of podcast advertising is becoming more and more popular in the UK, with podcast ad spending estimated to reach 80 million pounds by 2026.
As an SME, it’s important to know the answer to the question, “How effective is podcast advertising?” the benefits and what challenges you may face.
The Benefits of Podcast Advertising
If deployed correctly, podcast advertising can have several benefits, especially for SMEs.
Increase Brand Awareness
Having your brand name appear in podcasts can help get your name out there. Having your brand appear regularly in a popular medium like podcasts will mean more people remember it.
Build Trust With Your Target Audience
In a nationwide study by the Guardian last year, 51% of listeners said that hearing about the brand on a Guardian podcast improved their opinion of the brand and made them want to find out more. If your ads appear on well-respected podcasts, then that will make your brand seem more authoritative and help you gain the trust of potential customers. It is an easy way to establish credibility with a wider audience.
Wider Audience Reach
Podcast listenership in the UK went up to 21.2 million listeners in 2022, and that number wouldn’t have shrunk. The growing audience and endless topics that podcasts are based on mean pockets of customers out there that are perfect for your company. Podcast advertising allows you to reach people you may never have overtly targeted before.
With podcasts, you are not only reaching a growing audience but one that is more engaged. In the same Guardian study mentioned above, it was found that people pay more attention to podcast advertising than those on TV or the radio. More often than not, people listen to podcasts whilst doing something else – cooking, cleaning, exercising. This may sound like they are distracted, but the key thing is they are unlikely to skip over the ad. In some capacity, information on your brand will seep into the audience’s collective subconscious.
Cost Effective and Budget Friendly
Creating podcast ads can be less expensive than video production. For SMEs, podcast advertising can be done on a smaller budget as good production value can be achieved without over-the-top investment. This leaves room for investment to get your ads on better-suited and more credible podcasts.
The Main Challenges of Podcast Advertising For SMEs
There are some challenges to overcome if you are set on creating podcast ads.
- Creative Hesitancy – You could be stepping into a new world and unsure how to proceed. Podcast ads present a short window where you have to be memorable, without the use of visuals. These constraints may leave you hesitant about your creative ability.
- Ad Placement – Where your ad appears on the podcast can dictate its success. Adverts at the end are the most skipped, but mid-roll ads are more effective.
- Finding the Right Audience – With the podcast audience increasing and so many nice communities embedded within, it can be hard to find the “right” people. To find the most responsive customers, you need to put effort into audience targeting so that your ROI is agreeable.
Tips for Creating Engaging Podcast Ads
To stand out amongst the swathes of other ads, your adverts need to be firing on all cylinders. Here are some things to consider when creating podcast ads.
Focus On Ad Purpose
You’re going to get 30 seconds, a minute at the most. With this time constraint, you need to decide what you want the customer to do – visit your website, use a promo code, and sign up for a free trial. The ad needs to be clear and informative with a compelling call to action. Also, it needs to be entertaining.
Write for the Format
Without visuals, you need to write for the ear. Being clear and punchy with clear language can help you break through the noise. Remember, the ad is being spoken, so consider rhythm and make use of alliteration and rhyme to be more memorable. Humour also works better spoken than written down.
Demo and Improve
Test, test, test. Don’t just trust your gut alone on how good an ad is. Demo the adverts on others – a small pool of customers, podcast hosts and producers – and get feedback. Based on this, refine the ads and get it perfect. If the ad works, then you may never have to go back and change it – saving you time and money down the line.
Best Practices for Measuring Effectiveness Using Podcast Advertising
There are several ways in which you can go about measuring the effectiveness of podcast ads. It’s important to keep track of the effectiveness of ads so you can ensure you are getting the most out of your investment.
With each podcast you advertise on, you can have a unique discount code for customers. This can be read out by the host or included in the ad. Discounts and benefits are an effective method of lead generation, with people more likely to try out new things at a cut cost. The use of promo codes also helps you more clearly see which podcasts or ads are working better than others.
Going straight to the customer is a great way to gather information. After a purchase has been made, you can send out a survey through various channels to find out how they heard about your company. Through feedback, you will receive clear data about how effective your podcast advertising is. These surveys can form part of a wider email marketing campaign.
You can measure your success for engagement and more immediate conversations with vanity URLs. Creating custom landing pages that reference the podcast and offer they are after will help customers know they are in the right place. You create a more seamless journey from the podcast to your brand, showing you are working in concert.
Get in Touch Today
The world of podcast advertising is growing, with no sign of slowing down. Podcasts give you access to a more engaged audience than you find elsewhere, more willing to take a leap and try out brands they haven’t heard of.
Posted on Friday, October 6th, 2023 in Latest News.