Is Podcasting the Best Place to Spend Marketing Dollars?
Like most marketers, I’m a sucker for a good statistic. And one I saw recently blew my mind.
More than 30% of Americans between ages 25 and 54 listen to at least one podcast per month.
Marketers aren’t ignoring the phenomenon. We’re spending a ton of money to advertise on people’s podcasts. Ad revenue has gone from less than $70 million in 2015 to over $250 million in 2017. The number is expected to rise.
If you don’t listen to podcasts, then keep reading. Today’s topic is about podcasting and why and how you should throw some marketing dollars toward podcasters.
What’s in a Podcast?
I’m a podcaster. It’s not marketing or affiliate related, but it’s relevant information.
It is a ton of work. I had no idea just how much was involved with production and editing as well as promotion. So these podcasters being paid to have ads on their podcasts are earning their money.
Most podcasters charge by the mile, and this seems to be industry standard. You pay them a rate of x dollars for every 1k listens the podcast receives with your ad in it. The rate per mile is different depending on where the ad is placed. An ad at the beginning of the podcast is going to cost you more than a midroll or outro ad.
Even if you’ve never invested marketing dollars into a podcast before, it’s relatively easy to get the gist and start advertising.
Finding the Right Podcast
This is going to be the hardest part of the whole process. If you are selling athletic shoes, you want to go after sports or health and wellness podcasts.
Going after a gaming podcast isn’t going to do you any good, right? Even if they have a million listens every month, you’re going to sell more shoes by finding the right podcast with the right audience. This is the basics of marketing and it applies to podcasts as well.
Podcasters are influencers. And like influencers, the more listens they receive, the more money they’ll want per mile. And just like with other types of influencers, you want to start small.
Find a few podcasts with 1k-10k listens a month and do some A/B testing.
Are Payoffs Legit?
There is a reason so many people are investing in advertising with podcasts.
When people are watching television or listening to the radio, they typically change the channel during commercial breaks. They don’t really have the same luxury with podcasts.
There are usually just one or two ads in a podcast. Furthermore, many podcasters offer ad-free versions of their shows for monthly fees. So the people who are listening to the standard podcasts don’t mind the ads. On top of that, because they love these shows, they’re more likely to listen to the ads and make a purchase.
Combining ad spending with social media and SEO, like the services offered by SEOJet.net can next level your marketing strategies.
If you aren’t investing some marketing dollars into podcasts, now is the time to start.
Podcasts, streamers, and YouTubers are the way of the future. Many podcasters are utilizing all of these channels and if you get in with the right influencers at the right time, it could pay some amazing dividends.
Thanks for reading and let me know in the comments if you’ve had any luck with advertising on podcasts.