Wondering if a podcast advertising investment is an excellent fit for your business? The answer is yes. But how?
In this post, we explain why you should try podcast ads for your business and check out important factors to decide which brand to sponsor for ad slots. The best way is typically through a podcast advertising marketplace for podcasters platforms.
It could be tricky, especially if you are just learning about podcasting. But that is why we wrote this guide. Let’s get to it!
What are the risks of investing in podcast ads?
Convincing yourself to invest in podcast ads for your business starts by evaluating the risks involved (if any). What are some risk factors or common fears that many podcast sponsors might have when thinking of podcast advertising?
The first challenge is the fear of conversions. Some prospective sponsoring brands like you might ask: how do we measure the effect of your podcast ads on overall sales? The answer is through the use of podcasting analytics.
Excellent hosting podcast sites like Podbean offer download metrics, click rates, and demographics data to track the success of podcast ads.
Another risk of podcast advertising is the fear of losing your money. But again, while you may pay a bit of money to advertise, there are several different podcast sponsorship models, depending on your preference. You can use an affiliate marketing link that pays only when listeners buy through the affiliate podcasting link.
Why should you try podcast advertising?
Now that we have already addressed the common risks of podcast advertising. The next step is understanding why it is worth investing in podcast ads for your business.
Connect your business with qualified prospects
By qualified prospects, we mean people interested in your products or services and only need some convincing to buy. And that is what podcast ads do – they link you to these prospective buyers.
Every podcast show is usually centralized around a niche or main subject. Therefore, the listeners are expected to be a collection of people with a common interest. So if you’re wondering if it’s worth investing in podcast ads for your business – you got the answer right there. Yes, because you meet people who will probably want what you sell.
Podcast advertising offers high ROIs
Compared to other business advertising methods, podcast ads are cost-effective and potentially generate a higher return on investments (ROIs). That is because you are selling to an interested audience with little setup cost or sponsorship pricing plans.
There is everything to gain and almost nothing to lose with podcast advertising. You reach more target buyers, boost your brand awareness, and get conversions.
Podcast advertising guarantees trackable results
Imagine posting a business advert on TV with different listeners’ demographics. Many doubts arise, such as: How many viewers were actually interested? How many people even saw the advert? Is there a way to measure those who made purchases because of the advert?
Many questions without answers! However, using podcast ads eliminate those doubts. You can track podcast advertising results via audience analytics from your hosting site. You get to know how many people downloaded and get the exact number of purchases from affiliate links.
Enjoy leveraged credibility
The chance to leverage the podcast’s credibility is another reason to stop asking if it is worth investing in podcast ads for your business. Think about it: the show host has a group of target listeners with common interests related to your product.
Hence, they are more likely to believe the word of the podcast anchor. Implementing the host-read podcasting ad format might be a genius move here.
Podcasting is a growing industry
If there is any other reason you should try podcast advertising, it’s because the industry is fast growing. There are already over 5 million podcast shows with millions of monthly listeners. Hopping on the podcast ad train before it becomes a “must-use” advertising platform can be an excellent way to beat the competition.
Podcast ads are long-lasting
One benefit of podcast advertising that many overlook is its potential for long-term returns. Paying for a radio or TV advert only gets broadcasted for the number of times agreed.
But a podcast ad remains provided the featured episode is still available for downloads. That means someone could still listen and buy after months of hosting the podcast adverts.
Listeners pay more attention to podcast ads
Have you ever tried watching a video on social media like YouTube, and an annoying advert comes up in between? Do you know why you found it intrusive? Because it probably did not match your interest.
That’s another benefit of podcast advertising for your business. Listeners pay more attention to the ads because it relates to the discussed idea. That guarantees higher conversion rates.
Factors to choose the right podcast for your business
Having decided if it is worth investing in podcast ads for your business, let us take a quick look at determining factors to choose the right podcast for advertisement.
Their target audience
Check out the target listeners of your preferred podcasts and select from the ones with a topic that resonates with your product. It is always best to pick a podcast within your niche since they have qualified prospects you seek.
Popularity and engagements
You will only enjoy the benefits of podcast advertising when you choose a podcast with high listener engagement. How much of a reach does the podcast have? Ask for the podcasting media kit and do a simple background check to determine if it’s worth investing in their podcast advertising slots.
Budget
The most popular podcasts with lots of engagements usually have high-pricing plans. Hence, do well to inquire about the cost of their business podcast ad slots. There is always the possibility of finding a show within your budget and marketing goals.
Besides, there are different podcast sponsorship models like cost per thousand impressions per every featured podcast or affiliate commission.
Conclusion
The numerous benefits of podcast advertising suggest it is worth investing in podcast ads for your business. An excellent podcast ad connects you with qualified prospects and offers high ROIs with long-term potential.
However, you must start from the basics – choosing a podcast with a similar target audience for optimal results. Have you done your homework and found a podcasting show that fits your advertising goal? Send them a message and discuss marketing goals, objectives, and budgets.
