After gaining popularity in the early 2000’s, podcasting has exploded into prominence across multiple demographics and platforms. Brands and media companies have caught on to the power of podcasts as a tool for creating value, building community and generating revenue. Podcasts have spawned from the likes of radio and been adopted by the digital age.
Today, 62% of Americans listen to podcasts. That equates to about 177 million people. More importantly, it’s not just a fad or something that will fade over time. It’s becoming a viable channel for content marketing. Companies are realizing they can use podcasting as a way to communicate with their customers, increase brand awareness and drive sales.
The Biggest Benefits of Podcasting
The advantages of having a podcast in today’s world are numerous. They are a great way to connect with people and build an audience. Not only are they entertaining, but they’re also a great way to learn new things. People are also more receptive to ads when listening to a podcast, so you can reach a larger audience with fewer ads.
It’s also a great way to establish your brand as a leader in your industry. By creating high quality, engaging podcasts, you can connect with potential customers and clients, and show them that you’re the go-to source for information on the topic.
Connect and build your audience.
In many ways, the ability to put a podcast in the hands of customers is similar to the promise email brought to businesses. It gives you one more way to connect with customers and prospects. Certainly, there are some listeners who will make purchases directly from a podcast, but there’s a greater likelihood that your followers will listen and then return to your website to buy.
The reason is pretty straightforward: they’ve already heard about your products and services through your podcast and they want to learn more before making a purchase. In other words, these people already have a “prospect” on file—a prospect that they may never have heard of otherwise. It’s an opportunity you can’t afford to miss.
Become a Thought Leader in Your Industry
It’s no secret that being at the forefront of your industry is key to success. And to do that, you need to provide your audience with valuable information and thought leadership. You’ll be able to engage with them on a deeper level and build a relationship of trust that will lead to increased sales and brand loyalty.
You have a wealth of knowledge, experience, and expertise at your disposal – all you need to do is tap into it. This includes accessing the knowledge, experience, and expertise of your team, employees, and community. This will help you generate content that will slowly but surely earn your organization the status of a true thought leader.
Podcast listeners are more responsive to ads.
With podcasts becoming increasingly more popular, the ad dollars are following suit. According to the recent study from Interactive Advertising Bureau (IAB), in 2021 U.S. podcast advertising revenues reached $1.4 billion, increasing by 72% from the year before. The market is expected to reach $2 billion by 2024, so this is an extremely lucrative market for podcasters.
As a testament to the ad spend rising, Edison’s study shows just how much this is paying off. 56% of super listeners said that they are more likely to buy a product after hearing a podcast ad, up from 46% from last year. What’s more, super listeners paid more attention to a host reading an ad copy than any other ad type.
