As digital technology advances, businesses are continually seeking innovative approaches to engage with their target audience, which is constantly sought after by companies. One of the most recent and effective ways of reaching a large audience is podcast advertising.
This post will explore the subject of podcast advertising, its benefits, how it works, and how to advertise on podcasts.
We will also discuss the top podcast advertising networks, the different types of podcast ads available, and the costs associated with each.
So, Let’s get started.
Understanding Podcast Advertising And Its Advantages
Podcast advertising promotes your business, brand, or product on a podcast. It involves placing ads in the form of pre-, mid-, or post-roll segments and host-read ads or sponsorships.
This advertising method enables businesses to connect with a specific and targeted audience of engaged listeners who are actively interested in the topics being discussed on the podcast.
Now let’s understand it’s advantages/benefits:
There are many benefits of podcast advertising; some of them are here:
- Targeted audience: Podcasts attract a niche audience with specific interests. Which makes it easier for businesses to target their advertising efforts toward a particular group of people.
- High engagement: Podcast listeners are highly engaged with the content they listen to. This means that if your ad is placed strategically, it has the potential to be heard and absorbed by a large number of listeners.
- High conversion rates: Podcast advertising has a higher conversion rate than traditional advertising methods. That is because podcast listeners are often loyal to the host and are more likely to trust their recommendations.
- Increased brand awareness: Podcast advertising can help businesses increase brand awareness and reach new audiences. Businesses can increase their visibility and credibility by sponsoring or advertising on a popular podcast.
How Does Podcast Advertising Work?
Podcast advertising works in a few different ways, depending on the advertising agreement between the business and the podcast host or network. The three main types of podcast advertising agreements are:
- Standard Advertising Agreement
This agreement is a primary contract between the business and the podcast host or network.
The business pays a fee to have its ad played during a podcast’s pre-, mid-, or post-roll segment.
- Affiliate Marketing
In this type of agreement, the business pays the podcast host a commission for every sale made through a unique affiliate link or discount code provided by the podcast host.
- Branded Podcast
In this agreement, the business sponsors an entire podcast series or creates a podcast produced by the host or network.
The business has complete creative control over the content by its content strategy but must follow specific guidelines and standards set by the host or network.
How To Advertise On Podcasts?
As you are interested in advertising your business on a podcast, there are a few key steps to follow:
- Consider Demographics: Choose a podcast with a target audience similar to your business’s. Consider the age, gender, and interests of the podcast listeners when selecting a podcast to advertise on.
- Be Aware of Pricing: Different podcasts have different pricing structures. Some may charge a flat fee, while others charge per thousand downloads.
Research and understand the pricing structure before agreeing to advertise on a podcast.
- Choose a Podcast that Meets Your Expectations: Consider the podcast’s reputation, production quality, and content. Make sure it aligns with your brand’s values and overall message.
- Determine the most appropriate ad type for your product. Evaluate which ad format will yield the most effectiveness for your business.
Host-read ads, sponsorships, and branded podcasts may be more effective for certain businesses than pre-, mid-, or post-roll ads.
- Negotiate the Terms of the Agreement: Once you have chosen a podcast and type of ad, negotiate the terms of the agreement with the podcast host or network.
Make sure to clarify the duration of the ad, the pricing structure, and any other details relevant to the agreement.
Podcast Advertising Networks
Many podcast advertising networks are available, each with strengths and weaknesses.
Some of the top podcast advertising networks include:
- Earwolf Podcast Network
Earwolf has become one of the most popular podcast networks in the world, with millions of listeners tuning in to their shows each month. The network features various comedy podcasts hosted by multiple comedians and performers.
Earwolf’s podcasts cover pop culture, politics, sports, and current events. The network has been home to popular podcasts such as Comedy Bang! Bang! How Did This Get Made? and Who Charted?
This network features a variety of podcast shows covering topics such as news, entertainment, sports, comedy, and lifestyle. PodcastOne’s shows are hosted by well-known personalities, celebrities, and experts in their respective fields.
PodcastOne’s network includes popular shows such as The Adam Carolla Show, Dan Patrick Show, Dr. Drew After Dark, and The Rich Eisen Show. The network also produces original content.
For listeners, PodcastOne offers free access to all of their podcasts. You can listen to any show episode for free on their website or mobile app.
The pricing for PodcastOne varies depending on whether you are a listener or a podcaster. For listeners, the service is free with ads. For podcasters, the pricing will depend on a variety of factors.
It provides a platform for podcasters to monetize their content by placing ads within their episodes while allowing advertisers to reach a targeted and engaged audience through podcast advertising.
AdvertiseCast offers a variety of advertising options, including host-read ads. They also work with various podcast genres, including business, education, Health & Fitness, and technology.
Megaphone positions itself as the top platform for publishing and advertising podcasts worldwide. The platform is intended for large-scale, professional podcasters who already average 20,000 plays each episode. Megaphone members can monetize their content by selling advertising slots through the Spotify Audience Network. Megaphone offers its users a media player that Can be integrated into other websites and social media platforms.
You can choose between single-episode and playlist players and adjust them to be vertical or horizontal.
They have studios in both Los Angeles and Brooklyn, aiming to create, select, and advertise the finest podcast content available from various sources. As of April 2017, HeadGum’s podcasts received an average of 100 million monthly plays.
Podcast Advertising Cost
The cost of podcast advertising varies depending on the podcast and the type of ad. Here are the most common types of podcast ads and their associated costs:
- Pre-roll Ads
Pre-roll ads are aired at the start of a podcast episode, showcasing generally the most expensive type of podcast ad. The average rate ranges between $15 – $20 per ad.
- Mid-roll Ads
Mid-roll ads are featured during the middle portion of a podcast episode, presenting generally less expensive than preroll ads, and The average 30-60 second mid-roll ad spot will have a $30 CPM.
- Post-roll Ads
Post-roll ads are aired after a podcast episode, presenting generally the least expensive type of podcast ad and can cost anywhere from $10. However, they have the lowest engagement rates.
Now that you understand podcast advertising correctly, try this unique method for your business and see what different results it can drive.
Still, if you have any questions related to the topic, please leave them in the comment section. We will be happy to answer you.
Thanks for reading 🙂
Also Read: A Complete Guide To Podcast Marketing