Podcast listening is at an all-time high, and podcast advertising is rising along with it. For some markets, podcast advertisements have higher rates of engagement and customer recall than both radio and social media ads. Podcast listeners are generally older, educated, and making their own financial decisions, meaning they’re more likely to spend money on advertised products.
There are several types of ads you can place in a podcast.
- Firstly, a programmatic ad, which your company records and provides to the podcast host. These allow you to control the messaging and its delivery.
- There’s also a host read, where the host is provided a script to read from. Audiences typically prefer host reads, citing programmatic ads as abrupt interruptions to their podcast.
- Brands can also sponsor podcast episodes if they don’t have a particular advertisement in mind, or even purchase a branded series over multiple episodes if one just isn’t enough!
Next is the decision of when to air your ad. Do you want listeners to hear your brand pre-roll, mid-roll, or post-roll, when some listeners might drop off?
Once you’ve picked the kind of advertisement you’d like to run, it’s time to pick the podcast it actually appears on. There are hundreds of thousands of podcasts to choose from — where to begin?
Psychographic networks are a great place to start. Your brand knows what your target audience is, and that audience likely frequents specific podcasts. With psychographics, your brand can find a niche cohort of podcasts that speak to specific customer behaviors. Each cohort has a different scale or value based on these insights. Podcast networks target specific groups of listeners based on their hobbies, age, gender, income, even their personality types. For example, one group discovered by the iHeart Podcast Network is titled “Rising Star” for the socially active, environmentally conscious young women starting new careers. The top three podcasts frequented by these personality types are then listed for brands to advertise with.
By grouping listeners together, brands can target highly specific audiences most likely to identify with their company. However, this level of specificity necessitates a wider geographic range. While geo-targeting is available for increased precision, smaller geographic ranges come with smaller audiences, making the chances of finding your target buyer more difficult.
Those who remain hesitant to advertise on podcasts typically cite the difficulty tracking ROI. While going through apps like Spotify can be tricky, there are ways to work around this.
- Including a call to action in your advertisement can help you track impressions clearly.
- Promo codes are especially effective measurements of ad performance.
In short, the podcast advertisement industry is on track for huge growth in the coming years. With psychographics, geo-targeting, and data tracking, your brand can beat the rush and emerge as a skilled and memorable advertiser.