How to use podcast advertising effectively
By placing ads in a podcast, you will often reach your target group better than using other means. You need to find the right podcast and have a suitable audio ad. You can measure your success using KPIs such as downloads and retention rates.
- What is podcast advertising and how does it work?
- Why it’s worth using podcast ads
- Different options for podcast advertising
- How to successfully employ podcast advertising
- How to earn money as a podcaster by selling podcast advertising
- Measuring the success of podcast advertising
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What is podcast advertising and how does it work?
We understand podcast advertising as any ad placed in a podcast. Unlike radio, podcasts don’t have a set broadcast time and can be opened at any time on the internet. The same applies to podcast ads. Instead, the podcaster will introduce something and talk about its positive aspects whilst recording. This has some similarities to being an influencer.
Placing podcast ads is well worth it, as shown by a study published in the Guardian.
Why it’s worth using podcast ads
Reach a large audience across different platforms
If you use podcasts to let others know about what you have to offer, you can benefit from reaching a large audience. On top of that, there is more than one platform to listen to podcasts which you can use, for example Spotify and the alternatives, such as Apple or Google Podcasts. The most-famous podcasts can be found across different sources.
Find your target audience
By finding the right podcast, you can reach the perfect target audience for you. It is, of course, vital that you know who is in your target group. A crime fiction podcast, for example, is going to attract different people to an educational podcast about the economy. To find the right podcast for your target group, your best option is to search for suitable categories. On the Deezer platform, these could be comedy, true crime, sports and travel.
An easily accessible medium
It’s easy to learn how to use a podcast. This means they are used by both younger and older generations. On top of this, they can be listened to easily over many devices, from smartphones to PCs. This means your podcast ads can reach everyone.
An authentic advertising method
Podcast advertising can be more personal and believable than other advertising methods. This is because podcasters will often give their own opinion about the product making it seem more authentic. A person who speaks enthusiastically, or at least honestly, will be more convincing than an advert on TV. This is an important aspect of influencer marketing.
Ads are skipped less often
Another pro of podcast advertising is that the ads are skipped less often. On one hand, this is because people often listen to podcasts when doing other things (such as in the gym or when cooking) and on the other hand because podcast advertising doesn’t interrupt the content as abruptly. The latter is something we all see with advertising on YouTube.
Less competition than with other advertising formats
Finally, you can use podcast advertising to gain an advantage on your competitors. This is because podcasts are listened to by a lot of people, however, haven't been used by everyone as an advertising method. It may well be that you have some luck and create a touchpoint in your customer journey which your competition (still) hasn’t got on their radar.
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Different options for podcast advertising
If you want to advertise your products and services in a podcast, then you have three options: You can decide whether to contact an existing podcase, engage a service provider with podcast marketing skills or create a podcast yourself. If you choose to go for the latter option, you’ve got the option to publish a podcast with WordPress. Another option is to make use of a podcast hosting service, such as Anchor by Spotify.
How to successfully employ podcast advertising
Regardless of whether you create the podcast yourself or use another, there are four steps you need to take into consideration when placing podcast advertising.
Step 1: Define your target group and the topic
You can do this by keeping your product or service in mind and deciding on your target group as well as the topic. This information will help you what type of podcast and tone of voice is the best.
Step 2: Decide on your ad content
Ask yourself which parts of your ads are the most essential and should be mentioned in your podcast ads. Concentrate on positive and interesting details. Furthermore, your ads should include a CTA. This could be a special CTA for the podcast audience.
Step 3: Place your ad within the content
Podcast ads can be included at the beginning, in the middle or at the end of the piece. It is often better to place it in the middle of the podcast since this means it increases the chances of the listener hearing the ad and not switching off. Correspondingly, the prices for podcast advertising increase if they are better placed.
Step 4: Place ads multiple times
It’s not enough to insert the podcast ad in just one piece. In an ideal world, your ad should be included at least once in three to five episodes so that listeners remember it.
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How to earn money as a podcaster by selling podcast advertising
If you already run a podcast, you may also find it useful to place podcast ads for others. Advertising partnerships can develop if you directly contact companies which match your podcast, or you can link up with an agency to find a partner. Once you have developed a partnership, you can offer and sell bookable advertising slots in your podcast.
How much you can make from podcast advertising is heavily influenced by how well you are known as a podcaster. The network AdvertiseCast has published average advertising rates for a podcast. CPM stands for “cost per mille”, in other words, the price per 1,000 listeners. In this case as follows:
- CPM for a 30-second advert: 18 dollars
- CPM for a 60-second advert: 25 dollars
Many podcasters also receive financial support from the crowdfunding platform Patreon. This is a particular useful method if you already have a large fan base and audience. However, even as a micro influencer you make a certain amount of money.
Measuring the success of podcast advertising
There are different ways to measure whether a podcast ad has been successful or not. This is because the placement of podcast advertising affects multiple parties:
- Podcasters earn money from podcast ads.
- Listeners to the podcast get more valuable advertising.
- The advertiser creates more interest in their product.
A podcast ad is, therefore, successful when it shows positive financial, content-related and marketing results. By using so-called KPIs, or key performance indicators, you will be able to measure the success of your podcast advertising. Among these include the number of subscribers, downloads, leads, purchases and retention rates. The retention rate is the number of listeners who stay and do not skip the advert. You can also use other online marketing KPIs to measure the level of success.
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