Cincinnati, OH, Feb. This report, the second in a series of podcasting whitepapers by Claritas and Market Enginuity, distills podcasting industry changes and trends for advertisers. The first whitepaper in the series highlighted the differences in behaviors and attributes of podcasting audiences based on the platforms on which the podcasts were downloaded. Podcasting continues to grow exponentially in advertiser adoption due to the significant increase in audience penetration across all genres. With the growing popularity of podcasting, many savvy marketers are looking to expand the role of podcast advertising in their media mix. But until a few years ago, marketers found it difficult to determine the effectiveness of the podcast channel — in large part due to limited podcast attribution methodologies. Until recently, vanity URLs, promo codes, and surveys after a purchase were the only tools available to measure podcast advertising effectiveness. Today, new marketing tools are allowing advertisers and marketers to gain deeper insights into the effectiveness of podcast channels. In November , Claritas acquired the omni-channel attribution platform Barometric and has since collected and reported on campaign results across more than advertisers, which drove a deeper analysis in the channels effectiveness as compared to non-podcast channels. This analysis, across industries such as consumer packaged goods, automotive, direct brands, finance and insurance, shows that while non-podcast channels historically result in a 2.
Ballpark Pricing for Podcast Advertising
Podcasts are growing in popularity. An increase in listenership in this medium means you have a chance to spend advertising dollars, reaching new and current audiences in different ways. Spending part of your budget on a new method of advertising or convincing your boss that this is a good idea will more than likely cause you to pause. How do you know if spending money on podcast advertising is actually worth it? Will you see results? Even if other brands are seeing results, how do you know you will? In this post, we explain the reasons why podcast advertising is effective and help you determine whether it makes sense for you to spend your money on it. Although it is currently difficult to track hard metrics for podcast advertising, there are still some compelling reasons why we believe podcast advertising is effective. It makes sense. And who do you trust more than anyone?
How Do I Know If Podcast Advertising is Right for Me? Things to Consider
How many podcasts are there? The proportion of Americans listening to podcasts has nearly doubled in the past nine years and is projected to continue growing for the foreseeable future. And since interest in podcasting has risen so sharply, an increasing number of advertisers are leveraging this trend to promote their products and services.
Roy Morgan figures reveal 1. Locally, Acast supports the largest podcast audience share nationally with over More eyeballs and more ad spend are great for the industry, but it also means more scrutiny. This is a discussion we welcome. Nielsen data shows podcast advertising delivers 4. Beyond this, here are a few reasons why we believe in the effectiveness of podcast advertising:. The greatest appeal of this segmentation is being able to target audiences that are hard to reach on traditional channels. As the buying power of Millennial and Gen Z continues to grow, this targeting will help advertisers reach very specific audiences at scale in one of the few mediums where they continue to be highly engaged.