Podcasts are gaining popularity, and there has been a steady increase each year to the number of podcasts listened to on a monthly basis. With over 800,000 podcasts out there, how can you stand out from the crowd? It’s important to create an engaging podcast that supports your brand and develop a marketing strategy to build your audience.
Are you thinking of starting your own podcast? And are you looking for ways to advertise o your own or on others podcasts? In an ongoing series, we have started with a short intro that will get you started and familiar with podcast advertising.
Why should your business consider podcasts?
According to IAB and PwCm Podcast Revenue Report, U.S. advertisers spent $479 million on podcast ads in 2018, which was increased by 53% from $314 million from the year before. The report also shows that podcast revenues are expected to exceed $1 billion in 2021. This steady increase is appealing for businesses to take advantage of the growing advertising platform.
Maybe you’re looking to advertise on a podcast, or maybe you want to earn some money by having other companies advertise on your podcast. Either way, it’s a great platform on the rise that can be used to increase awareness and promote your business.
How are advertisements promoted on podcasts?
People listen to podcasts usually when they like to listen to the host. Host-reads are a popular way that ads are presented on podcasts. The host plays a vital role in presenting the product/ad and listeners aren’t as annoyed since they know that the ad is supporting the given podcast. Host-reads stay a part of the podcast, so whenever a listener tunes in months after you paid for the spot, it can promote your ad on the long-term.
What should you consider when choosing or creating an ad for a podcast? The podcast should appeal to the right target audience, you should consider the nature of the intended audience, and the ad should be tailored to suit the brand’s conversion goals. Understanding these aspects will help you choose or create the right podcast to promote your brand.
Industry Standard Podcast Advertisements
The two most popular types of podcast advertisements are 1) a 15-second pre-roll and 2) a 60-second mid-roll. If you listen to podcasts, you might have noticed that the host usually talks about an advertisement on the beginning or in the middle of the podcast. Sometimes, ads are at the end of a podcast, termed outro, which can serve as a final call to action.
Useful Podcast Vocabulary
We compiled a list of podcast terms that you can get familiar with to get you started:
- Offer code: a coupon code that the host promotes to listeners to help track conversions directly linked to a specific ad campaign.
- Podcatcher: the software or platform used to play a podcast.
- Native ads: advertising that matches its delivery platform, as if it’s a natural part of the podcast content.
- Direct response: marketing or ads that can be measured and tracked— when it comes to podcasts, this is usually a URL or offer code.
- CPM rate: the ad expense measurement of the “cost per mille” (or per thousand) listens of a podcast.
- CPA rate: the measurement of the “cost per acquisition,” or cost to acquire one new customer as a result of an ad.
How much do podcast advertisements usually cost?
Podcast advertising rates are usually around
$18 per 1,000 listens (CPMs) for a 15-second pre-roll ad
$25 per 1,000 listens (CPMs) for a 60 second mid-roll ad
The more popular a podcast is and has a higher audience reach, the more expensive it is (no brainer). Mid-roll ads are more expensive since listeners are already engaged with the podcast content and more likely to listen to the ad.
If you are hoping to make your own podcast popular, then at least you have a general understanding of how much you could charge brand and companies to advertise. If you are looking to advertise on already running podcasts, it could be better to target a few podcasts with fewer views, rather than investing in only one more expensive, popular one.
Understanding Podcast Directories
If you are hosting your own podcast show, there are various directories that you can consider to list your show. It’s better to offer your podcast on a few of them to have a higher reach. Here are a few of the most popular directories, although there are many more that you can consider.
This is the most popular directory, and many times people associate Apple with starting podcasts. The term “podcast” started with Apple’s iPod, but audio blogging actually started around the 1980s. When launching a podcast, you should definitely get it listed on Itunes.
To get listed on Itunes, you need to be approved, which can take a couple of weeks. Make sure to read through Apple’s podcast requirements, and you should be good to go. Add relevant tags to the title and description to increase your chances of being found. Listeners can review your podcast, which can help your podcast to be found in the future.
Spotify has been growing to become a popular podcast directory, and the platform already has a high number of listeners. For those with android phones, the Android app lets you access podcasts when you don’t have an Apple’s podcast app. There’s also a simple registration process to get listed.
Google has joined the podcast craze and has attempted to create a podcast search engine. There isn’t a standard submission process, you just have to make sure that your podcast is listed on a website that is compatible with Google Podcasts to be added. It is another important directory for Android users, which might likely become more popular over time.
There are just three of the more popular directories, but definitely do your research and consider the other directories. Some include Stitcher, TuneIn Radio, Google Play Music, Pandora, Listen Notes, iHeartRadio and Alexa via AnyPod.
More to Come!
Now that you have a brief intro about podcast advertisements, you might be excited to get started. This is article is just the start of our ongoing podcast series, where we will teach you everything there is to know about the industry and how it can help you and your business.
To get you started, look at your competitors for inspiration to find out what they’re doing and what you can learn and grow on. Of course, you shouldn’t directly copy others, but it is a great way to start you thinking about an ad campaign or to get inspired for your own podcast show.
You might be wondering, how can I get started making a great podcast? Or, wouldn’t it be great to create a strong podcast advertisement? Well, stay tuned for our ongoing Podcast article series to find out more! Alternatively, contact us using the form below and someone from our team will be in touch to discuss further.