Expected to reach $1.74billion in 2022, here's how to make the most of your podcast ad spend
With podcast ad spend expected to reach almost $2 billion this year, how can advertisers get the most out of their podcast ad spend?
Let’s find out!
1. The best kind of podcast ad
There may be a podcast for everything nowadays, but our reasons for listening to podcasts have remained pretty much constant: we want to expand our minds in a simple, easy, and stress-relieving way.
And for listeners, there is nothing worse than being interrupted in the middle of a podcast by a third-party, scripted advert.
Ads have become an expected part of the podcast experience. However, audiences don’t want an ad to take them out of the flow of the podcast.
This is why ads read out by the podcast host/s almost always perform better than pre-recorded, third-party ads do. Similarly, audiences don’t respond as well to their favourite podcast host reading from a script while advertising a product.
Think about it. Podcasts are built on the idea of free-formed ideas and insightful commentary. Even when listeners can’t see their podcast host, it is obvious when hosts transition from speaking freely to reading a script.
Instead, podcast advertisers should consider trusting the hosts to talk about their product organically.
When listeners feel that they are being recommended a product authentically by a friend, they are much more likely to trust in the quality of what is being advertised, and therefore more likely to make a purchase.
To make the most of your podcast ad spend, advertisers should always prioritise authenticity.
2. How to measure the success of your podcast ad
Of course, measuring the success of your podcast campaigns is incredibly important. It allows marketers to consider where they prioritise ad spend and makes it easier to tailor future ads to yield even better results.
Some of the easiest ways to do this include adding promo codes, links and hashtags that are specific to that podcast ad. The more customers use these, the easier it is for advertisers to compare the total number of listeners with the total number of customers that followed through on CTAs.
On the other hand, ROI is not the only important metric for podcast advertisers to consider. In fact, one of the biggest benefits of podcast ads is that they are the perfect channel to build brand awareness and gain exposure.
One way to measure both the amount of exposure your podcast campaign has generated for your brand and the success of your campaigns is by placing a customer survey somewhere on your site asking visitors how they became aware of your brand.
3. How to choose a podcast to advertise on
Podcast advertising is one of the best channels through which advertisers can reach an audience. Not only because podcasts speak directly to listeners as individuals, but also, because one person can enjoy podcasts about a wide array of topics.
Whilst on most social media platforms where people tend to stick to just a couple of communities, podcasts provide such a wealth of entertainment and information that listeners will often get involved in many podcast communities.
Because of this, choosing which podcast to advertise on is not as important as you might think.
(For example, listeners of a podcast talking about history may also be interested in your fishing brand.)
In fact, even advertising on more popular podcasts isn’t always the most lucrative option.
By advertising across three or more podcasts instead of one (more popular, but more expensive) podcast, and choosing podcasts in a variety of niches, advertisers that have optimised their campaign to be as authentic as possible can still reach members of their target audience and attract new customers.
Podcast advertising, when done creatively and authentically, can be incredibly lucrative.
We’re a podcast advertising agency that puts creativity at the heart of everything we do. To learn more about making the most of your podcast ad spend, get in touch with us at One Day Agency.
To learn more about Podcast Ads, get in contact today.