Not too long ago, media companies were working overtime to sell advertisers on the idea of podcast advertising. And while direct-to-consumer brands were quick to adopt, many advertisers took longer to come around.
There were persistent questions around things like reach, efficacy and safety. Luckily, the ever-growing popularity of the medium was more than enough to intrigue brands. As more and more advertisers get on board with podcast advertising, it’s natural to wonder how—or if—some of those questions have been addressed.
The answer is absolutely, and with frequent improvements and advancements in the insights, technology and mechanisms. Let’s look at what’s now and what’s next for brands looking to make an impression in podcast advertising.
Podcasts are an addition, not a replacement
What happens when advertisers add podcasts as a line item to their digital audio campaigns? Pure incremental reach.
In 2022, SXM Media analyzed over 500 campaigns completed between January 2021 and August 2022 with both podcast and non-podcast elements (e.g., satellite radio and streaming audio). The results showed an impressive plus 43% median incremental reach with virtually 0% audience overlap between podcast and non-podcast lines.
Imagine the listeners you’re missing out on if you don’t include podcasts in your media plan. This creates interesting opportunities for bundling mediums—and reaching completely new audiences that you wouldn’t have connected with otherwise.
Increasingly precise targeting
The brand safety concerns surrounding the podcast advertising space are giving way to brand suitability conversations, focusing less on fear and more on alignment.
And targeting is a big piece of the puzzle. Brands can work with trusted media partners to tailor their podcast campaign strategies to reach audiences by demographics and behaviors, genres, shows and networks, and even down to the episode level. Contextual transcription targeting both allows advertisers to scale campaigns and refine targeting.
For example, an ad for a sports brand could play on a non-sports podcast with a sports-centered episode, expanding campaign reach while allowing brands to ensure their ads play in the right context.
Powerful ad tech
Host reads and show buys are still big with advertisers, which can be both competitive and expensive, but there are more options than ever for ad budgets of all sizes.
From announcer-read ads to programmatic buys, advertisers can easily scale campaigns across categories and networks either as standalone campaigns or as complements to show-level buys. And, like everything else these days, AI is getting into the mix. From copywriting and voice overs to context and insertions, AI is enhancing the podcast advertising experience.
More robust measurement
Podcast campaigns can be measured across the funnel, with new advancements coming. Everything from awareness to foot traffic to ad recall can be measured through brand lift studies, on- and offline attribution, location analytics studies, surveys and more. And advertisers are feeling increasingly comfortable with the transparency, accuracy and insights the medium offers.
Multichannel engagement with influential hosts
Podcasts are a relationship-driven medium, and one that isn’t limited to what happens inside each episode. Listeners feel connected to the hosts and vice versa. Whether it’s up-and-coming creators holding meet and greets with fans, established talents dropping pictures on their social channels, or shows with an established video component, authentic interactions are constantly happening.
Today, the most innovative brands in the space are incorporating podcasters’ 360 influence into multichannel campaign opportunities. Social and video extensions are becoming more and more common, capitalizing on the hosts’ fandoms outside of the studio. And better yet—sold-out IRL events that give brands the chance to be front and center at a memorable one-of-a-kind experience.
Podcasts and the fans who love them aren’t going anywhere, but the ways advertisers can leverage the medium to reach audiences is improving all the time. All you have to do is stay tuned.
