You’ve come to the right place if you’re interested in expanding your podcast’s audience through advertising and promotion.
You probably started podcasting because you want to create and start a dialogue about a subject you care deeply about, building an audience of people who care about your take on a subject and sharing yours with the worldwide world.
What is Podcast Advertisement
Podcast advertising refers to a type of audio advertisement that ranges from 15 to 60 seconds in length. These ads are read live and placed in podcast episodes’ pauses.
Using podcast advertising can help build trust with potential customers, reach a larger audience, and increase return on investment while promoting products or services.
Podcast advertising comes in the form of podcast sponsorship, which involves businesses paying to have their products, services, or businesses promoted through advertisements during a podcast.
Podcast advertisements typically include details about the advertised good or service and the host’s impressions and experiences. Sometimes, the ad will provide a discount code or other incentive for the listener to try the product.
Companies can also promote themselves using their own branded podcast show. Branded podcasts provide listeners with valuable content while promoting the brand’s reputation and credibility and increasing the audience’s awareness of the brand, which is the show’s overarching goal.
Podcast Advertising: How does it work?
Businesses can get to know their customers on a deeper level by using programmatic audio. Similar to video commercials in terms of placement, short audio advertisements are standard on podcasts. Advertisements can be heard at various points throughout a podcast episode.
The effectiveness of podcast advertisements is higher than that of other media. As a result, your business can progress toward its objectives. Statistics show that listeners are 54% more likely to purchase after hearing about a business on a podcast.
Advertisements on podcasts typically range in length from 15 to 60 seconds. Ad rates are determined by factors such as audience size, playtime, number of impressions, and number of downloads.
Now that you know how it works, you can consider podcast advertisements.
How can I Advertise on Podcasts?
When advertising on podcasts, there are a few guidelines you should follow. To make sure everything goes as planned, we’ve compiled a checklist of items you need to take care of. Let’s look into them further.
Analyze demographics. Podcasts, in contrast to television shows, don’t attract diverse audiences. However, podcasts provide a great way to reach educated people actively seeking new information.
You can get the most engaged demographic — millennials — through podcast advertising. They fit the profile perfectly in terms of age, salary, and level of education. These consumers can both show interest in and afford your product.
Select multiple podcasts to advertise your product. You don’t have to spend all your money on a premium podcast. It’s best to place ads on the most popular and relevant podcasts.
Just because millions of people listen to a particular podcast doesn’t mean they’ll remember your brand if they only hear your ad once. You can increase your leads and sales by placing multiple ads on smaller podcasts.
Pick a podcast that lives up to your standards. It’s essential to make an intelligent choice if you want your ad to be seen by people who could become customers. It would be best to choose a podcast relevant to your product.
Numerous podcasts provide excellent venues for reaching specific demographics. Your job is to make your Ad feel as organic and relevant to the episode’s subject matter as possible.
Be aware of the costs. Knowing the fundamentals of podcast advertising rates will help you avoid being overcharged. However, it may seem like some platforms can charge you significantly more than anticipated.
Most podcasters adhere to a standard pricing structure. The estimated cost of an advertisement slot on these networks is calculated using the same formula. Ad space cost estimators are even available on some websites.
Types of podcast advertising cost models
Depending on the cost model you select, different podcast advertising rates apply. Let’s start with the most common:
CPM
Cost per mile is referred to as CPM. Pre, mid, and post-roll advertisements are usually priced in this way. The term “CPM podcast” refers to the cost incurred for every 1,000 views or plays of an episode. On a standard basis, the industry-standard CPM for 30-second ads is $18, and for 60-second ads is $25.
Typically, more prominent podcasts that regularly reach thousands of impressions per episode are better suited for this pricing structure.
CPA
CPA refers to ‘cost per acquisition.’ This is how, for instance, an affiliate marketing model would be priced. This cost model places a strong emphasis on the number of conversions. The company or sponsor receives a set payment each time a listener converts due to the podcast advertisement.
Fixed/ Flat price
Some agreements for podcast advertising specify a flat rate for podcast promotion. However, this strategy is not very common. The parties will negotiate the price depending on several variables, including audience size.
What makes podcast advertisements so effective?
Podcast advertisements are effective because of the medium itself. The efficiency of information and message transmission through audio content is undeniable. Three additional factors contribute to podcast advertising’s success in addition to the impressive numbers presented above:
The first is that podcasts can reach a large audience. Podcasts are becoming increasingly popular, allowing companies to get more people than ever before. There is such a wide variety of shows that advertisers feel compelled to choose when it comes to selecting an appropriate demographic and subset.
Second, the people who make podcasts usually have a dedicated fanbase. This implies confidence. A winning formula for advertisers and marketers is a highly engaged audience with a credible host they trust and respect. Businesses can benefit from the credibility and popularity of podcast hosts.
Thirdly, podcasts have a particular audience actively engaged with the content because they have chosen to do so. As a result, businesses can more effectively reach the type of consumer they know will be interested in their specialized offerings.
