In the history of media there has never been more change, than there is right now. The growth of smart speakers, the interactive car, and mobile devises are all changing how listeners are consuming their audio. Changes in legislation the move of the big radio companies to more brands delivered from network centers are also having an impact on listeners and the extent of that impact is yet to be seen. In the middle of all that there is the rise of the Podcast.
Now podcasts are not new I was making them for radio shows more than 15 years ago, but all the points above is now changing their impact.
All the research I have seen in the last 18 months shows that listeners don’t just want a streaming service of music, (they are bored with that) they want to be entertained. Audiences don’t want a service where they are just sold to with “radio words” they want real relatable content delivered by real relatable people, most radio is failing to do this and that means audiences are falling. That’s where podcasts come in. I can choose any time to listen to my favorite personalities talking about things that interest me or make me laugh, trusted people in their field and I get to choose when I listen.
With a podcast I can choose what content I want to hear when I want to hear it delivered by the presenters that I like and where as 15 years ago it was a ball ache to get that content, now it is so easy. I can ask for it on my smart speaker, my phone has a handy app and my car is easily connected, I can choose the content I want when I want it. We have seen the rise of in-demand TV; audio is going the same way. The Internet changed print media, social media changed targeted advertising and podcasting will do the same to audio. Traditional advertising can waste money you may be hitting tens of thousands of ears but you maybe amongst 7 or more ads in a break and hoping against hope that one of those ears will be interested in what you have to say (lets face it unless you are the first in break the chances of it being heard become even more remote). Instead you can now target and not fight for ears with Podcasts less ad clutter targeted to the subject of the podcasts means less waste. It’s been shown that consumer action is more likely from podcasts advertising than any other medium due to the intimacy of it. 61% of podcasts listeners have taken action on an advert heard on a podcast, 25% purchased the product. Podcasts are trusted influencers 2.5x people are more likely to listen to the host read ads than dynamic adverts.
Programmatic audio and the opportunity to deliver targeted campaigns in a brand safe environment is critical to further grow investment in the medium. Seventy-three per cent of advertisers credited digital audio as a great way for reaching new audiences of all ages, notably younger listeners, which other media struggle to reach.
Podcast, are not mass advertising like a lot of TV and radio adverts where you can have a spot and can hit a big audience. The question is how many of those are interested in what you have to sell and do they actually hear your ad.
The world is all about targeting and that’s what Podcasts give you a targeted audience interested in your product who are more likely to purchase and more likely to be engaged. Isn’t it time you thought about how you got to your consumers in a much more targeted way? Rip up the old way of doing things and try something new. The rise of the Podcast is here jump on board and join the revolution.