The digital advertising industry is booming, and nowhere has seen such an incredible rise than in podcast advertising, which generated an estimated $479.1 million in revenue in 2018 and – according to a recent report from the Interactive Advertising Bureau (IAB) and PwC – is expected to produce more than $1 billion by 2021 in the US alone, so globally the figure is even more impressive.
Why is it so successful? A number of factors, not least the ability to ensure truly targeted advertising – you know a lot about the listener based on the theme of the podcast. For example, a yoga podcast is going to provide a great audience to advertise your yoga mats to, ensuring a better conversion rate. And because listeners are actively choosing to listen they’re unlikely to switch off or over during adverts. Together, these factors provide advertisers with a virtually guaranteed consistent, identifiable audience, allowing for highly targeted ad strategies.
But perhaps even more powerful is the relationship between the host and the listener, bestowing trust on any product that appears to be endorsed, could be what gives this channel the edge. In fact, in a survey of nearly 1,000 podcast listeners, conducted in partnership with Edison Research, it was found that nearly two-thirds of listeners are more willing to consider purchasing products and services they learn about during a podcast. And 60% also stated that, given equal price and quality, they would prefer to buy products from companies that advertise on their favourite podcasts.
In short, adding podcast advertising to integrated digital campaigns is something that all advertisers should be considering. And right now, Wedel Software is the only solution provider enabling publishers to include Podcast, Terrestrial Radio, Display and Search within a single campaign.
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