How aligning with a podcast helps companies find ‘brand identity’
The podcasting industry is a rapidly expanding universe with close to a million podcasts already in circulation and more coming online every day.
That’s feeding a growing hunger for a good story with Google fielding up to 10 million monthly searches for ‘podcast’ in 2019 while 1.6 million Australians are now downloading a podcast in an average four weeks.
Those numbers are growing and providing new opportunities for advertisers, who’re looking to tap into a ‘captive audience’, who’ve shown they’re not adverse to ‘pod-vertising’
A 2017 study by the US Interactive Advertising Bureau found 67% of listeners could recall products and brands featured in ads. 61% have gone on to buy a product or service, they learned about in an ad.
Emily Croker from Acast believes it presents a great opportunity for local advertisers who may want to ‘keep it real’ particularly through brand alignments.
“There’s a push for advertisers to find their own ‘brand identity’ and show a side of them beyond the product and service,” she tells Radio Today.
“Podcasting allows them to align with those podcasters who have a more ‘raw’ view of the brand. If you find a voice who can represent your brand and deliver an unscripted view of your brand, that’s the more enticing offer to your consumer than a TVC.”
Dynamic ad insertions are also providing growth opportunities for advertisers, who are wanting to connect on another level with podcast consumer. Croker believes it’s helping to build engagement and improve the user experience overall.
“Dynamic ad insertions have really streamlined the offering to advertisers rather than the ‘baked-in’ adverts that we traditionally had, particularly the US-based podcasts.
“This allows more premium tier-one advertisers to jump on board and advertisers do want to be involved on the podcasting side. They allow advertisers to capitalise on their message for as long as the campaign runs. They don’t exist forever within the podcast.”
While not every podcast will be a ‘hit’, there is money to be made in podcasts both branded and unbranded. But the harsh reality is that many productions will run out of steam and suffer ‘podfade’.
With so many podcasts vying for attention, Acast says it recognises discoverability is an issue that won’t go away any time soon. However, Croker says they are committed to podcasters big and small.
“Acast really wants to assist these podcasters and ensure that there is promotion and ensure that they do get the ‘time of day’ and connecting the right audience with the right product.”