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Podcasts have begun to blossom into an extremely popular platform that continues to gain new listeners and garner millions of dollars in investments in just the past few years. Roughly 62 million Americans tune-in to podcasts on a weekly basis, and 78% of those listeners report that they don’t mind ads because they understand that it supports the content. With this knowledge, it is very easy to see why podcasts have the potential to be a great channel for advertising campaigns.
With podcast advertising, your brand is given the opportunity to make connections with your desired targetted audience. The reason being, when you partner with a podcast, you partner with a channel that shares your vision and has a slight relevance to your brand. The shared relevance inevitably leads to a more receptive audience and higher customer engagement. So, given that information, you should partner with someone who shows genuine interest and believes in your brand.
There are a few different options in terms of types of ads and ad placements. During any given podcast, ads will be placed into slots. The slots are referred to as pre-roll, mid-roll, and post-roll. The pre-roll and post-roll ads typically run for around 10-15 seconds long, whereas mid-roll ads can go for upwards of 1 minute. Listed below are the two different delivery methods for your ads:
With the podcast host holding the entire podcasts influence in their voice, host-read ads are ideally delivered as testimonials rather than one-off, dull statements.
Dynamic Ads differ from baked-in ads in that they can be altered and modified at any given time. Dynamic ads also allow for more targetability and measurement capabilities.
Now, how are podcast ad costs structured? The most common pricing model for podcast ads is the CPM (Cost Per Mille). Mille is Latin for thousand, so CPM translates to the cost per thousand downloads. Streams are also included as downloads, but downloads do not often equate to the thousand listens because of those people who download but never get around to listening. The prices vary for this model and, for example, range from $27-32 per CPM on a mid-roll ad. You must consider ad length, podcast position, and hosts popularity when negotiating or analyzing prices.
Podcast advertising can be a powerful tool for any brand and has the potential to keep growing in the years to come. If the ability to advertise on content that will last forever isn’t enough, consider the added ability to collaborate and create with an influencer who shares your brand's ideas. Reach out, and start collaborating today!