What is a podcast?
The term “podcast” first appeared in 2004, when Adam Curry, former MTV video jockey, and software developer Dave Winer, coded a program known as iPodder, which enabled them to download internet radio broadcasts to their iPods. Curry now hosts “The Daily Source Code,” one of the prominent podcasts on the net.
Since then, podcasts have significantly increased in popularity. Today many people worldwide enjoy listening to podcasts on a variety of platforms. This phenomenon of “audio blogging” has conveniently provided an alternative form of media to users who are now able to listen to their favorite programs in audio formats, and even download them, thus, expanding the space for more people to broadcast their own shows and share stories that continue to be more diverse and nuanced.
Why advertise on podcasts?
Advertisers are now keener to add podcasts to the media mix, as they are increasingly becoming an attractive marketing outlet. The IAB Podcast Ad Revenue Study, together with PriceWaterhouseCoopers (PwC), found that podcast advertising revenue is forecasted to exceed one billion dollars by 2021. A huge benefit of advertising with a podcast is that there are a variety of shows you can choose from that are compatible with your company. Although podcasting is easy, it isn’t free. Expenses usually depend on the popularity of a show, because the bigger the audience, the more expensive a show is to maintain, as it’ll usually need editors or rented studio time. However, depending on your marketing budget, you are guaranteed to find a podcast to fit your needs.
Secondly, podcasting presents a distinctive and superior type of advertising. An IAB study concluded that listeners are much more receptive to ads read by podcast hosts than the ones which are pre-produced. Listeners trust the recommendations of a certain service or a product from their favorite hosts, and thus are more likely to make a purchase. Brands are now more inclined to send the hosts a sample of the product advertised so that they can share their personal experience with it. Companies may also see increased sales by providing a discount code to the listeners to encourage them to consider the services or products. This also allows you as a company to follow statistics that show the number of conversions with that particular code. According to the IAB study, up to 67% of listeners could remember products featured in podcast ads.
Podcast advertising generates friendly potential customers that are more likely to engage with your services or products. These leads resemble those of affiliate marketing or word-of-mouth advertising. As stated by marketing expert Hailey Friedman, podcast leads’ conversion rate is seven times higher than the rate of standard website traffic leads. We are currently witnessing a rapid growing market of podcast advertising. According to a study by Ipsos, monthly share of podcasts has expanded from 24% at the beginning of 2017 to 37% in the second quarter of 2019.
What is certain is that the greatest benefit of podcast ads is that they are really enjoyable. As per Edison Research, 67% of podcast listeners enjoy hearing the ads, compared with just 6% for TV and radio audiences.
How do I get started with podcast advertising?
Luckily, it’s easy to start advertising on podcasts. You have the option to make a pre-produced ad for the podcast to insert at the beginning, middle, or end. You can trust that the podcast host will advertise for your company, going over the major points you’d outlined for them to cover in regards to your product.
Now, when it comes to finding a podcast to advertise with, there are plenty of services that connect advertisers and podcasters. Midroll is in the lead, working with large advertisers such as Squarespace, Allstate, and HBO and popular podcasts like “WTF with Marc Maron,” “Nerdist,” and “My Favorite Murder.” A lot of popular podcasts are part of larger networks such as Earwolf, NPR and Carolla Digital, so it’s possible for you to connect to these parent companies for advertising purposes.
Alternatively, if you’d like to advertise on a smaller podcast that does not belong to a network, you can search for the contact info on its website or social media page. You will negotiate with them a contract for the advertisement, laying out the duration of the ad, what information needs to be covered, and how much you are willing to pay.
How do I get started with a podcast?
If you want to start your own podcast, we would love to assist you in any way possible. We help people from the conception of the show to iTunes. Feel free to reach out on our contact page, and we’ll have someone on our team reach out to you as soon as possible. We take our clients seriously, and so we respond accordingly. You’ll be talking to a real person that wants to help see your podcast come to life.