Much depends on your business and its marketing objectives. But given the growth of podcasting it’s no surprise that businesses are turning their attention to the podcasting space.
POPULARITY. Podcasting has become a hugely popular medium for people to consume content on the go. Gone are the days of needing a book during a commute or background music whilst at the gym. Podcasts allow consumers the opportunity to consume whatever content they want, hands-free, whenever they want.
SOMETHING FOR EVERYONE. There are over 4 million podcasts registered worldwide, highlighting the demand of podcasts in all types of sectors. Podcasts can be created on a wide range of topics, which means that brands can target specific niche audiences. For example, a brand that sells outdoor gear can sponsor a podcast about hiking and camping, which will attract listeners who are interested in that specific topics.
HIGH ENGAGEMENT. Podcast listeners are considered to be more likely to act based on what they hear. A Buzzsprout report on podcast statistics say that 60% of podcast listeners have bought something from a podcast ad.
CONNECTING WITH YOUR TARGET MARKET. Podcasting allows brands to build relationships with their audience. Podcasts often feature interviews with experts or influencers in the industry, which allows brands to position themselves as thought leaders and to build relationships with key influencers in their industry.
VS TRADITION SPEND. Unlike traditional radio or TV commercials, podcast advertisements can be longer and more in-depth. This allows brands to tell their story in a more compelling way and to build a deeper connection with their audience. A Buzzsprout report on podcast statistics and data showed that 81% of people say that they pay attention to podcast ads more than they do to radio, TV commercials, billboards, and digital ads on social media.
SO SHOULD I CONSIDER IT FOR MY BUSINESS. There are plenty of opportunities to get your brand out there in the podcasting space, whether that’s by advertising through an existing podcast in your field or by setting up your own podcast. The challenge for some, however, is that it’s new and deemed unconventional. So why not reach out to have a chat with iD Studios on how to turn your idea into a podcasting show.