If you’re an avid podcast listener, then you’ve likely heard advertisements for brands you hadn’t heard of before but are now familiar with. Blue Apron, Squarespace, Loot Crate, Audible and dozens of other brands don’t regularly advertise on traditional media, but we’ve grown accustomed to hearing our favorite podcasters tout these products and services.
Most of these companies were mere startups when they started advertising on podcasts, and they’ve since exploded into popularity. A study by the Interactive Advertising Bureau (IAB) forecasted podcasting revenues to reach more than $220 million by the end of 2017, which shows that more marketers are pouring money into advertising with podcasts. [Read related story: 5 Best Business Podcasts for Entrepreneurs]
IAB has subsequently released the Podcast Playbook, which states that about 24 percent of U.S. consumers listen to podcasts on a monthly basis and, on average, subscribe to at least six podcasts per week. With those numbers, it’s hard to deny that podcasts are on the rise and can have a huge influence on consumers’ choices.
On top of the mobility of podcasts, since they’re primarily heard through smartphones, WhyPodcasts.org says that advertisements on a podcast are likely on those episodes permanently and will be heard by any listeners replaying those episodes or bingeing the series.
A great benefit to advertising with a podcast is that there is such a wide variety of shows and content that it would be a simple manner to find one that’s compatible with your company and products. Podcasting is easy, but it isn’t free, especially if showrunners need to maintain costs of hosting and upgrading equipment. The larger the following, the higher the need for more expenses like hiring editors or renting studio time.
Another advantage is the unique type of advertising available on podcasting. IAB’s study found that Read More Here