As a busy marketer, you want to make sure you're going to get a good return on your investment before you start spending time and money building a podcast.
One great way to see if podcasting could be a viable marketing tactic for your company or personal brandis through podcast advertising or sponsorships. With these tactics, you can identify podcasters with a price-point and audience target that makes sense for your brand. Then, you can work with them and leverage their expertise by sponsoring the content they've made. Alternatively, you could also create a native ad that aligns with their discussion topics.
If you aren't sure if creating your own podcast is a good marketing strategy for your brand, you might see a return on podcast ads or sponsorships.
If you're interested in a pursuing a podcast advertising strategy but aren't sure if the right opportunities exist for your company, check out this list of more than 30 podcast advertising stats. We'll cover podcasting's biggest marketing opportunities, where podcasting is headed, and the demographics who tune in the most.
Podcasts and Advertising
In 2018, 17% of marketers were actively planning to add podcasting to their strategy. (HubSpot)
Podcast ad spending is expected to hit $354 million this year. (Statista)
The average podcast ad slot costs between $10 to $50, with additional premium fees for shows with high listenership. (HubSpot)
54% of podcast consumers say that they are more likely to consider the brands they hear advertised on podcasts. (Edison Research)
Podcast listeners are more likely to own a smart speaker. (Edison Research)
Podcasts are the number one audio source by time of consumption among podcast listeners. (Edison Research)
In 2018, more than 67% of podcast listeners agreed that podcasts contribute to their intellectual growth. (EX-IQ)
Millennials and Gen Z are 5% more likely to listen to podcasts for professional reasons than older generations. (EX-IQ)
Roughly 50% of customer service reps have listened to a podcast at work. (EX-IQ)
While 43% of people who listen to podcasts at least monthly listen via Spotify, 35% use Pandora. (Edison Research)
More than half of millennials listen to educational podcasts. (EX-IQ)
62% of podcast listeners say they'd be more likely to share podcasts with friends if they were able to share one short segment or highlight of it, rather than an entire episode. (EX-IQ)
In late 2018, premade edited in podcast ads made up 51% of placements. However, dynamic ads rose from making up 44% of ad placements in 2017 to 48% in the following year. (IAB Podcast Ad Revenue Report)
NPR notes that 75% of its podcast listeners will respond or take action after hearing sponsored content. (National Public Media)
Considering podcast advertising?
As you've seen with the stats above, podcasting is growing in popularity -- especially among younger generations. And while it is often considered a form of "entertainment," podcast content can be incredibly versatile.
For example, although millennials or Gen Z listen to podcasts that feature interviews with big celebrities, they'll also listen intently to smaller shows that educate them about new trends or news that impacts their life or career.
Because there are so many podcasts, and so many listeners with buying potential, you might want to consider podcast sponsorships in your future advertising plan.