The digital media age has brought with it new opportunities for businesses to promote their products. Paper advertising is being rapidly replaced as people look to their digital devices for everything from shopping to getting their news. Another big change is how people are going about acquiring their entertainment.
Along with newspapers and magazines, though not as speedily, television and radio is being replaced with streaming entertainment. One of the most popular mediums for streaming, whether it’s informative, educational, or purely entertainment, is the podcast. With the rise of the digital media age, comes the rise of the digital advertising age as well.
What is Podcast Advertising?
To understand podcast advertising, you must first understand the structure of a podcast. A podcast is basically a talk show that most people tune in to on their smartphones. There is a multitude of free apps designed to allow access to all the different genres and individual podcasts available for listening at any time. Podcast creators generally release content on a regular schedule, and can do so as often as a few times a week, once a week, or even once a month.
A podcast needs a podcast host. This host provides the home for the podcast, and it also determines whether or not the podcast is eligible for advertising. The threshold for offering advertising will vary among each media house, but a generic number would be at least 1,000 subscribers to that channel.
Why Podcast Advertising?
Just like advertising on social media and other digital platforms, advertising on podcasts is affordable. It also allows the advertiser to easily reach a niche market. Because every podcast is created around a specific subject, the listeners of the podcast all share a common interest. Based on that common interest, the advertiser can target that audience.
Generally, the advertisement is placed at the beginning, middle, or end of the podcast, also known as pre-roll, mid-roll, and end-of-show, respectively. The pre-roll and end-of-show spots are generally the most affordable as the spot is 15 seconds long. The mid-roll is placed somewhere in the middle of the show, lasting a full 60 seconds.
Per 1,000 listeners, the advertising should expect to pay $18 for the shorter spots, and $25 for the longer spot. Keep in mind, a podcast can have tens of thousands of listeners, and some even have millions.
How Effective Is Podcast Advertising?
In 2021, experts estimate more than $1 billion will be spent on podcast advertising. This estimate is great because podcast growth has yet to meet its full potential. Every year, the number of people who tune in for their favorite podcasts continues to grow.
Growth isn’t the only reason podcast advertising is extremely effective. Perhaps the best reason is that podcast listeners tune in for every episode of their favorite shows because they feel a connection to the podcast host. Podcast listeners have hundreds of thousands of podcasts to choose from, which makes becoming a successful podcaster a meaningful challenge. Building an audience is a sign that the show host is quite good at what he or she does.
The listeners of the show listen to the show host because they trust them. Perhaps they were originally drawn to the show because they found enjoyment and a good message, but over time, they naturally develop a personal connection to the host. For this reason, if a show host tells them a product is worth giving a try, the listener won’t need much more convincing than the word of their favorite host.
It’s also important that the product aligns with the message of the podcast. You wouldn’t want to advertise art supplies on a podcast in which the show hosts discuss last night’s football battle between the Dallas Cowboys and the Philadelphia Eagles. However, there are thousands of other podcasts that discuss the craft of painting, art history, and art theory that would better suit the art supplies maker.
Podcasts are going to be experiencing their heyday for many years to come, just as television and radio did. And just as television and radio are here to stay, so too, likely, are podcasts. However, as shown here, podcasts are a bit more easily tailored to a specific audience.
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