Since podcasts have grown increasingly popular these days, more and more people are utilizing them to market their business. There are more than 500,000 ongoing podcast shows as of writing. Because of that, the number of people listening to podcasts made it one of the strongest mediums of advertising in the world of business.
Podcast advertising is an effective way to promote your products and services. Many business-minded people are itching to use this platform as a promotional medium for their product, service, or brand. Here are a few podcast advertising basics to help you set the stage if you are into business.
What is Podcast Advertising?
Where there are people, there’s business. It’s no surprise that advertisements found their way to podcasts. So, what is podcast advertising?
Before we dive deeper into what podcast advertising is, let us first get to know what a podcast is. A podcast is a recording of episodes about a particular topic. It is available on the internet so that audiences can download it on their device and listen to it whenever they want.
Due to its large audience, it has been utilized by companies for its marketing advantage. Podcast advertising is an audio advertisement that plays ads to podcast listeners. Sponsoring brands and companies use this platform to serve ads to the audience.
How do Podcast Advertising works?
Podcasts have a wide variety of content. This broad coverage of topics implies that businesses can effortlessly pick a podcast show that best relates to the product or service that they are offering. Companies and sponsoring brands will create the ad and give it to the podcast host to play during the audio show.
It’s also vital to know that you can choose where your ads can appear during the show. There are three places in the show where the advertisement can appear: pre-roll, mid-roll, and post-roll. Let’s discuss the three.
The first one is pre-roll, where your ads can appear at the very start of the podcast. This part is also the shortest among the three since the ad will be played for 15 seconds. You can hear this usual line on a pre-roll ad “this show is brought to you by (Name of sponsor).”
The second one is the mid-roll, where the advertisement appears at the podcast’s midpoint. This type of ad usually appears for 60 seconds. Also, this costs more since this is where the time that the audience is more engaged with the content. The last one is post-roll which appears after the podcast. This part is the least popular of the three because there are tendencies that the audience will directly close the show after the podcast has ended.
Podcast Advertising Do’s
Suppose you’re just getting started or a newbie in this kind of medium in advertising. In that case, there are things to keep in mind for effective podcast advertisements. Let’s first go through the things that you need to do when promoting.
- Find a podcast suitable for your products or services.
If you are an advertiser, it is crucial to find the right show to promote your product. It will increase the chance of your marketing success. Match the podcast show to your product or service.
In addition to that, take note of the show’s ranking if many audiences listen to it. The more successful the show is, the higher the chance your advertisement will work.
- Define your target audience
It is a must to define your target audience since this will be the key to a successful advertisement. If your product is solely for women, then find a podcast show that has a female audience. Avoid forcing your ads where they don’t belong.
- Refine your approach
Another thing you need to learn is the way you want your ads to be delivered. There are two ways your ads can be delivered. These are Baked In and Dynamic Insertion.
You can choose between the two to use in your ads. Baked in ads are delivered by the podcast host themselves. This type of delivery garners the listener’s trust and adds up to credibility. Also, this type of ad will appear on the podcast show even when the listeners download it.
Dynamic Insertion ads are produced and recorded elsewhere. It is crucial to note that not all users will hear the same dynamically inserted ad when they download a podcast.
- Keep your ads clear, complete, and concise.
To ensure its effectiveness, you might want to keep your message clear and straight to the point. A lengthy ad may tend to bore the listener and make them press forward, skipping the advertisement. By keeping it simple, you can guarantee that the audience will listen to it.
Podcast Advertising Don’ts
There isn’t much to avoid in podcast advertising. However, there are a few things that you need to be aware of.
- Avoid choosing a podcast randomly.
Before you approach a podcaster and ask for a spot to advertise, you should have a budget first. Calculate your expenses and find a podcast suited for your intended budget.
- Don’t focus on one platform alone.
If you are a sponsoring brand or a company, make the best out of your advertisement. You can ask the podcaster to also mention you as the sponsor in their Facebook or fan page, tweets, or other social media accounts. This will help you widen your coverage.
Podcast Advertising Rates
Earlier, we discussed why there is a need to calculate your ad expenses. Here’s a quick overview of the pricing on podcast advertising. There are three pricing routes in podcast advertising: CPM, CPA, and Freely negotiated price.
CPM stands for Cost Per Mile. The average rate for advertising is $25 for a 30-second advertisement per 1000 listeners. This pricing rate is determined by per thousand listeners.
CPA stands for Cost Per Acquisition. This means it is the cost to acquire a new customer as a result of an advertisement. Every time the podcast makes a customer due to the advertisement, the business pays a fee.
The last one is a Freely negotiated price. The podcaster and the sponsoring brand can discuss their fee and agree with a specific amount. This allows more flexibility if you are short on budget.
Why should you try Podcast Advertising?
Aside from its steady growth, podcast advertising also has a lot of benefits. Listeners may trust the advertisements more because they are more receptive when listening. Furthermore, the platform also has a large audience which means you have a wider coverage.
This advertising platform has grown steadily over these past few years. Due to its popularity, many people are starting to use this platform. If you are planning to start venturing into podcast advertising, make sure to read the information above to understand the basics of the industry. You may also want to learn more from professionals like Grab the Mic Media so that you’ll continually develop your skill.