Audio programming is making a comeback in the form of its younger, on-demand sibling – Podcasts.
Podcasting has emerged into a giant industry, exceeding $10B in 2020 and is slated to double within 24 – 36 months. In Asia, the podcast industry is emerging out of its infancy and presents an exciting addition to your digital marketing channel mix.
According to consumer insight company, GWI, sixty-six percent of those surveyed in the Asia-Pacific region claim to spend an average of one hour a day listening to podcasts.
- Ongoing growth of smartphone usage.
- Flexibility to listen to episodes while you are on the go.
- Multi-tasking potential behind tuning in.
- Wealth of content on nearly every imaginable topic or area of interest at your fingertips.
As podcast audiences grows, we can expect more marketers to start channeling ad dollars into Podcast Advertising (Podvertising).
Podvertising is a relatively underutilized digital marketing channel. It does not take a huge investment to stand out. In Asia, ad dollars invested into podvertising is currently relatively low, making it an uncluttered medium. In addition, affordable rates make this an inexpensive way of building brand awareness.
Brands can also hyper-target their campaign to their most captive audiences based on content topics that captivate their key audience segments.
Podcasts also provide a highly immersive experience, and with attention levels high (no visual distractions), consumers are less inclined to skip ads particularly when the brand airtime is embedded into conversation. Ads in podcasts cannot be blocked by ad blockers, which is a bonus.
Moreover, listeners tend to be loyal and trust their host and recommendations, like influencer marketing, but much more affordable.
That said, here is how you can get tuned in:
- Pre-roll, Mid-roll, Out-roll
Like video advertising podcasts ads are typically played at the start, middle or end of a show. As most listeners would have tuned out by the end of the show, Out-roll ads are generally less popular with advertisers. Mid-roll ads tend to be most popular because they are a longer segment and listeners tend to be more engaged by this point. Industry standard for podcast advertising is in CPM (Per thousand listens).
Unfortunately, due to the nature of the medium, metrics beyond listenership cannot be tracked, however many brands have monetized their return on advertising by including a unique and easy to remember discount code or landing page extension. Attribution is then linked to discount codes redeemed or visits to the unique landing page.
- Product placement
This involves the host talking to their audience about the product or service. They will tend to mention why they recommend it, some examples about how they themselves use it, how they benefit from it, and why the listener would too. In this case, the brand becomes another part of the episode content, as opposed to sounding like a typical ad.
- Sponsored series
Sponsoring a series takes podcast marketing opportunities to the next level. Sponsors have far more opportunities to reach their audience in more meaningful ways such as a representative that appears on the show, access to the podcast social media channels, audience email lists, website promos and more.
- Branded podcasts
Producing your own branded podcasts would be taking things to the “Ultimate” level. This approach requires a dedicated team and would involve a long-term content strategy, like any other social media channel. This approach provides brands with the opportunity to build a relationship with their audience, develop a strong connectivity, create a following and grow your first party database.
Here are some notable brands who are already harnessing the power of branded podcasting:
Like in any other digital advertising medium, success in this medium involves identifying podcasts that have the right audience demographic & interests for your brand as well as the type of ad and messaging that will resonate. Often, this involves research and potentially working with podcast producers to gain a better understanding of their subscribers and how they interact with advertising and sponsored content.
If you would like to explore podvertising and would like to learn more about how you can integrate this into your digital marketing mix, please contact us. Our subject matter experts will be happy to assist you.
POV By Farah Sadiq, EVP, GM, International