Podcasts are a powerful storytelling and advertising tool
Podcasting is not only a powerful storytelling tool, but also an advertising tool. The listening audience is extremely engaged – after all, they’ve decided to spend a lot of time listening to long conversations about niche topics.
57% of Americans over 12 listen to podcasts, or 162 million people.
Given that 80% of listeners may recall a brand advertised in a podcast, it is clear that this medium is a good choice for advertisers.
In fact, podcast advertising is growing rapidly, in 2019 podcast ad spend was $ 855 million worldwide and is expected to reach $ 1.6 billion by 2022, according to the 2019 report. from ARM on Global Advertising Trends.
âPodcasters engage with their listeners, solicit comments and deliver engaging and relevant content. By knowing their audience and cultivating a sense of trust, podcasters enable advertisers to reach the people they target, âsaid Marla Isackson, Founder and CEO of Ossa, a podcast advertising market focused on women. Ossa provides podcasters with tools and resources to maximize the use of their content. The company’s motto is âcontent is kingâ.
Podcasters become the voice of authority in their niche
Podcasters position themselves as thought leaders in their niche and develop an intimate bond with listeners. And advertisers seek to develop their authority status to gain credibility with consumers, which enables effective collaboration. Advertisers can present themselves to a very engaged audience in an environment that listeners trust.
There are over 2.5 million podcasts available on Apple Podcasts, giving listeners a wide range of options. Having trust with listeners keeps them coming back for the latest information, news and developments within an industry.
Additionally, a podcast can serve as an effective brand ambassador platform by allowing advertisers to talk about their businesses and areas of interest.
Podcast advertising gets results
Not only does podcast advertising generate much better brand awareness than other widely used forms of digital advertising, Nielsen’s studies found that 61% of consumers exposed to advertising podcasts for large, well-known national brands become more likely to purchase advertised products.
âThe results speak for themselves. The engagement and trust in the podcast media creates a unique opportunity for business growth in terms of both brand recall and conversions,â adds Isackson,
Tap into a very engaged audience
Researchers from Signal Hill Insights and Cumulus Media surveyed weekly podcast listeners and found podcasts to be the most popular medium consumed. Additionally, the study found that 81% of podcast listeners pay close attention to what they hear.
This engagement creates powerful opportunities for education and advertising. Therefore, placing ads on podcasts or creating a branded podcast for your business can generate growth. And many podcast listeners consider ads on their favorite podcasts to be an honest recommendation from a trusted source. After all, podcast advertising is a form of influencer marketing.
Podcasts Can Build Community and Trust
80% of consumers interviewed by Rare Consulting stated that their brand loyalty stems from the trust they place in the brand and the company.
Building customer trust and loyalty is an essential part of increasing the growth of a business. Unfortunately, many businesses find this difficult. Modern consumers are increasingly brand independent and less loyal, according to Midia Research.
However, according to Buzzsprout, studies show that consumers often spend more money with a company or brand if they develop a connection with it. By building a relationship of trust and relationships between the podcast host and their listeners, podcasts facilitate community engagement.
Advertisers can use the podcasting platform in a number of ways, but a unique strategic way is to develop their own branded content podcast. These branded podcasts typically focus on a specific industry and interview relevant guests.
Brands can effectively use their community building initiatives, such as podcasting, to share information about their products, services and new initiatives.
âBuilding on the trust they have established with their listeners, our podcasters extend their connection by creating a community with additional features and benefits to solidify that relationship. For example, many of our podcasters offer a crowdfunding feature in partnership with companies like Patreon or Supercast, which allows listeners to contribute monthly and receive rewards like closed content and swag, further boosting the connection. with their audience, âIsackson said.
The exponential growth of this industry has made podcasting one of the most effective ways to reach new customers and accelerate business growth. Podcast listeners are valuable, on average 45% of podcast listeners have an annual household income over $ 250,000 and a podcast listener is 45% more likely to have a college degree.
Given the engagement of podcast listeners, along with the opportunities to drive powerful campaign results, increase web traffic, and build community and credibility, it would make sense for any business looking to expand their message and his influence explores the podcasting space.