If your business is looking to explore new avenues for growth, and haven’t tried podcast ads, consider this your sign. Read on to see why, and how, to test podcast ads for the first time, to effectively boost your business.
No matter if your business is global or a small local start up. B2B, B2C or somewhere in between. Online or brink-and-mortar. Podcast advertising will support and grow all businesses.
Why Podcast Advertising Stands Out
As you’re trying podcast ads for the first time, I’d be amiss to not first get you excited about the opportunity. So let’s look at some stats.
One of the major advantages of podcast advertising is the ability to reach highly engaged audiences. Unlike traditional radio, where listeners may tune out during commercial breaks, podcast listeners actively seek out the content they love. They’re immersed which means you have a captive audience.
This is why, research from Sounds Profitable, found consumer have a preference for podcast advertisements: 43% of respondents indicated a likelihood to purchase after hearing a podcast ad, surpassing both TV (33%) and radio (26%).
Need more reasons why? Ok how about this…
- Audio ads have a 24% higher recall rate than traditional display ads.
- 74% of podcast listeners report visiting a company or product’s website after hearing an ad.
- 53% of smart speaker owners who have heard an ad on their device say they’re likely to respond to such ads.
Case Studies of Success
Stats are all good, but lets see some real life success stories that might match your future experience.
Using Magellan AI insights, we see Monday .com allocated a modest $100 to podcast advertising in December 2023. Come January investment surged to $268,000.
Similarly, Danone’s budget took a leap from $50,000 to $320,000 in December to January.
This is a common theme we see across the board. Among the top 15 podcast advertising spenders, 73% escalated their investments.
How to Effectively Trial Podcast Ads for The First Time
I hope I captured your curiosity now. So lets dive into practical. Launching on a new channel requires knowledge and understanding.
To dip your toe into podcast advertising, dynamically inserted ads (or programmatic) offers the most accessible gateway. It allows for testing of various genres and creatives, helping you identify the optimal advertising formula for you.
Plus all the efficiencies remain too – such as targeting, measurement, retargeting, and of course, speed! A programmatic strategy will give you huge reach and access to a highly engaged audience. It is also the most budget friendly approach.
Types of Ad Spots and Their Strategic Uses
Much like buying ad spots on YouTube, there are markers in the audio content which ads can be placed. Most typically:
- Pre-roll: Played before an episode. Can be skipped but isn’t too common. Costs less than mid-roll. Ideal if you have a quick, clear ad that can convert in a shorter time period.
- Mid-roll: Highest cost placement as it gets the highest LTR (listen through rate).
- Post-roll: This placement is the lowest cost as its the easiest for listeners to skip. BUT it can also be said that your ad will be the last thing they hear – leaving you top of mind.
Launching a Programmatic Campaign
Launching a programmatic campaign can be both swift and budget-friendly.
Ad Manager: An audio ad manager, is a self serve tool, where you can create, plan, launch and monitor podcast ads from an online dashboard. Visit admanager.fm sign up for free and try building a campaign. Its free and will give you a good idea of what’s possible with a budget as low as $250.
For those seeking a more hands-off approach, managed programmatic campaigns offer comprehensive support from experts, albeit at a higher starting price.
Supporting Business Objectives with Programmatic Campaigns
Programmatic audio advertising can be tailored to support a wide array of business objectives, including:
Brand Awareness: You will get maximum reach and detailed analytics to optimise. We recommend utilise contextual targeting and run your campaign for 10 weeks+.
Customer Retention: Programmatic will keep your product/brand top of mind by showing up where your customers are, even when not looking at a screen.
Announcements & Promotions: Spread the word far and wide. Create ads with a clear and concise call to action, and harness geographic and contextual targeting to maximise relevant awareness and conversion.
The Bottom Line
By embracing this low-cost, high-impact media, you will not only diversify your marketing mix but also position your business for substantial growth and enhanced customer engagement. Podcast listening is a growing media, and by trying podcast ads for the first time, you’ll see results and be investing in again and again.
