Gone are the days when advertisers used to reach people through newspapers or posters. Digital techniques are taking over the traditional advertising methods. Nowadays businesses use different techniques and platform to advertise their product or service. The advertisement can be in the format of audio, video, image or text. Podcast advertising is gaining huge popularity these days.
Podcasts have been around for over 10 years. But in last few years, the industry has witnessed the financial growth. It is making money mostly through advertising. The industry revenues are supposed to be increased between the years 2018 and 2020, at approx 30% annual rate. A survey report said that in US, the podcast ad spend is increasing every year and is expected to double to almost $700 Million by the year 2020.
Podcasting is very popular in America. More than 40% of Americans, mostly of age group 18-55, have listened to the podcast with 24% regular Americans podcast listeners. If you choose podcast advertising, you are making a great deal. The listeners will get to know about your brand.
Listening to the same ad multiple time is boring. Right?
How about the idea of live ads being read by the host? Seems quite interesting! Great hosts can make a 30 second ad sound great by reading it differently every time. When listeners hear their favorite and trusted host endorsing a product or services, they pay more attention and respect towards the particular brand.
Podcasts are believed to be the highest engaging and loyal message delivery medium. It can engage the listeners in a way better than any other traditional media. When a host speaks, it makes the audience to feel as they are connected directly. Listeners pay attention to every word, which builds a bond of trust and love between the podcaster and the audience. This in turn, makes the listeners supportive, loyal and always happy to hear your voice. So, podcasting is an excellent deal for the advertisers, who are trying to reach out to the public.
While watching a video or movie on YouTube, Netflix or Amazon Prime, most of the people skip the ads that appears in the beginning or in between the video. Many have enabled the ad blockers. People are even paying for platforms like Spotify for ad-free subscriptions, just to get rid of the unwanted ads. But if we talk about the podcast ads, people rarely skip it as they don't want to miss part of their favorite show. And if your product is good and you choose to advertise by live reading by host, people will definitely pay attention to it. Ads read by the host seems like a part of the show.
Unlike blogs or articles, in case of podcast, you don’t have to sit and focus on reading around 1500 or 3000 words. Podcasts are easily accessible as all you need to do is tune in. You can listen to your favorite show while driving, walking or gymming, either live or download it for later. So it comes out as a benefit for the advertisers.
If you are new in the business, you need to reach the target audience. No matter how big your business idea is, if your selling approach is not good, it won't be able to stand in the market. Podcast advertising is the perfect medium to lift your company.
According to the research, most podcast listeners lies in the age group of 18-54. About 45% of people in this group have an average income of $75K or more. More than 60% of them work as full time employees and 12% on part time. It means this group is capable to afford things you are advertising.