I believe that podcasts are going to be a significant part of digital advertising within the next three years, not because they’re anything new because podcasts certainly aren’t anything new, but because I believe that the podcast audience is arguably one of the most engaged set of users that we are able to target with ads.
In our industry, it’s very easy to find ad inventory but it’s very challenging to get a high level of user engagement. Podcasts have become increasingly popular since shows like Serial have been released, so more users are aware of podcasts as a form of media for entertainment.
An end-to-end enjoyable customer experience.
While more users are listening to them, there is also an increase in people creating audio content. When you put this alongside factors such as the development of headphone technology, introducing Bluetooth headphones with better sound quality, users are having a far more enjoyable experience when they’re listening to podcasts too.
So it’s hardly surprising that audio is the No.1 thing we’re using our mobile phones for and of that, 10% is listening to podcasts. While this isn’t a huge amount, what’s really interesting is the users who listen to podcasts spend 42% of their time on mobile listening to them, that’s almost half. I believe this shows the level of engagement and commitment that users have to this form of media.
So, where is the opportunity for us?
Firstly, think about the huge range of podcasts available. It doesn’t matter how niche your business is – whether you’re selling running apparel or investment products – there will be a podcast to suit and therefore, an audience.
Secondly, you’ve got really engaging, non-obtrusive ad formats on podcasts that typically fit nicely within the flow of the show thanks to a designated ad slot. Or you might even have the host reading out the ad themselves which creates more of an influencer-led activity rather than a standard piece of ad inventory.
In terms of what the opportunity is for us, I think it’s really exciting you’ve got a highly engaged user base which is spending 42% of their time listening to podcasts on their phone. You’ve then got a huge range of content that will match pretty much any business that your client might have and finally, you’ve got a hugely immersive and engaging ad, which is more than just a standard ad placement. It’s basically an influencer campaign.
What more could a digital advertiser want?