What happens with all internet based entities has finally happened to podcasts, after years of people screaming “how can we make money off this?” multiple revenue streams have showed face. Many of these terms will be familiar, as podcasts are now being regarded as content worth paying for. These are the same ways that radio shows, television shows, and online content is made profitable. Take all of these ideas into account when creating your podcast.
Sponsors
Simple and straightforward, if you have the ability to attract sponsors to your series, do it. Remaining an independent endeavor funded by outside companies will allow for your creative freedom to remain unimpeded. Proving the value in your podcast can be rather difficult, but the growing popularity of podcasts helps your sales pitch. Think locally if you’re hyper-focused locally. Think internationally if you have a wide audience. Be creative.
Media Companies
There’s a mad scramble by media companies to scoop up valuable content. Reach out to media companies in your area. Speak to radio stations, newspapers, podcast studios, and anyone collecting content to see if their interested. This allows a media company to signal boost your series, provide validity, and offer expertise on the production side.
Coincidentally, this is a great turnkey solution for media companies. Rather than developing a series from scratch they can signal boost an already established brand, attach ad partners, and rake in profits.
Events & Merch
Live podcasts exist. They are high energy events full of surprises and production value. Nobody wants to see one guy quietly talk into a mic, figure out how you can bring your podcast to life. Get involved with events that are already planned or book a stage and make your podcast a live event.
Merch is a money machine. The host of Comedy Bang! Bang! Has an on-going bit, whereafter a comedian says something funny he’ll say “That’s a shirt.” This became such a ubiquitous catchphrase that he eventually sold “That’s a shirt!” printed on a shirt. Mugs, pens, magnets, and shirts, can all be created and sold through online platforms without podcasters having to do much more than designing the product.
Paywall
The paywall is a newer concept. HBO and Netflix popularized the subscription service model, but podcasters have been keeping “premium content” behind a paywall as a way to profit off a larger fan base. This can be tricky, because oftentimes producers over value content. Make sure you incentive people to pay, or else you’re just burying your content to never be seen.
Product Placement
Unlike a blockbuster film, you cannot simply sprinkle Coke cans throughout your set. Product placement is done subtly within a podcast format. Talk about trending topics often? Slip some sponsored talking points into the mix. This is prevalent in radio, for example, Popeye’s could sponsor a radio show frequently and make sure the hosts talk about their new chicken sandwich. This can work for movies, products, other content platforms, and has the added bonus of hitting the listeners with an ad that doesn’t feel like an ad.
Single-Sponsor
Sell out-right. Only needing to conform to one sponsor has its ups and downs. While it provides a steady flow of income, it may give a single sponsor too much control over your production. However, the benefits include partnering with one company heavily invested in your success. Look for like-minded companies with similar demographics that you can reach.
Lastly, it’s only going to get easier to profit off of your creations in the near future. Creative ideas take the cake, think outside of the box, hone your craft, and recognize what you bring to the table.
For a few days early in August 2019, Apple took down their category classifications because they were making an update. Podcasters waited with bated breath anticipating what the changes could possibly be. Would it be better? Would it be worse?
What’s Changed?
As the podcast wars between Spotify and Apple grow more contentious, content creators like myself were curious what Apple had up their sleeve, turns out they were making their platform a tad more producer friendly. The addition of more categories and even further sub-categories allow podcasts a greater chance to get recognized and listeners a better chance of finding a new show.
The updated list of Apple Podcast Categories read as such:
True Crime
Comedy
Sports
Fiction
History
Business
Society and Culture
Kids & Family
Education
News
Religion and Spirituality
TV & Movies
Technology
Arts
Health and Fitness
Music
Science
Leisure
Government
In the past, many of these categories were trapped under umbrella terms or even homeless. The True Crime genre exploded, warranting its own top-level category, along with History and Fiction. This provides podcasters a chance to summit a new chart or chart where they otherwise would not have.
Subcategories
If your show is about a topic as broad as “music,” you now can be listen in several subcategories: Music Commentary, Music Interviews, and Music History. This same idea applies to the sports category, which now allows you to specify exactly which sport you are covering. There is now an opportunity to be recognized as the “Best Rugby Podcast” or to be recognized as a “Standout Wilderness Podcast” under the sports umbrella.
The following categories now have lists of sub categories available on the majority of podcast hosting sites:
TV & FIlm
Sports
Society & Culture
Science
Religion & Spirituality
News
Music
Leisure
Kids
Health & Fitness
Fiction
Education
Comedy
Business
Art
If any of your podcasts fall underneath these umbrella terms, go to your host sites and see how granular you can get. It may be worth taking a shot in the dark, if you host a sports podcast that has a movie segment, use one of your three subcategories for a chance to be seen by movie fans. It’s hard to get noticed in a sea of content, Apple is doing podcasters a solid and giving producers a chance to be found.
If you’re unsure how to specifically define your podcast series, we covered that in the last article we published. Otherwise, stay updated to Apple & Spotify’s ever-changing platforms. As the podcast space grows, content becomes more valuable. Stay optimized to ensure that you’re reaching the largest audience possible!
If you’re anything like me, you get asked to explain what your podcast is about often. The majority of the population is just being introduced to the medium of podcasting, it is up to you to be able to explain your podcast to the best of your ability. So, what type of podcast do you have?
Topics & Themes
Begin by explaining what exactly your podcast is about, whether it’s movies, politics, music, or improv comedy there should be a steady through line of what your show is about. It’s possible to have multiple themes and topics, as well as no real theme or topic. A great example of a theme-less show would be the Joe Rogan Experience or the Monday Morning Podcast, both are tremendously successful but are better defined by their production style and host.
Production Style
If you have no specific theme or through line, you may be better off describing your show based off production style. The aforementioned Joe Rogan Experience is best defined as a long-form interview show, but not by any other characteristic. Shows like This American Life and Radiolab are best defined by how they are made.
This American Life uses a combination of interviews, music, and theatrical effects to tell a story rather than having an interview stand alone as the story. Shows like This American Life and Radiolab are story-boarded. This means they are built like television shows whereas interview shows are the result of an unscripted interview.
Radio shows are often re-purposed for podcast distribution, this style of production is best described as exactly that – a reformatted radio show.
The Slant / Point of View
Many podcasts are defined by the point of view they portray. For the average podcaster it’s not enough to simply record yourself speaking on one topic or the other. What is it specifically that you bring to the table? If you’ve got a local perspective that may be interesting to outsiders, flaunt that. There’s also a chance to examine popular stories or pop culture events from a different perspective.
Malcolm Gladwell’s podcast series “Revisionist History” takes the time to reexamine stories misremembered or that he feels were inadequately told. Gladwell dissects stories piece by piece and revisits the popular narrative, often times with the people from those stories. There are thousands of podcasts about sports and movies, but what makes yours pop? What is your slant?
Conclusion
In conclusion, it’s pertinent that your podcast has an identity long before you press record. Speak with intent and plan the story you’re about to tell. There are hundreds of thousands of podcasts on the web. It has never been more important to have a clear strategy and identity for your production.
If you have been living in a cave, you haven’t noticed that many major brands are starting to branch out into podcasting in a big way. Podcasts are a natural medium for branding, and their narrative style is appealing to many brands that are interested in driving higher social engagement with consumers.
In terms of content strategies, branded podcasts run the gamut from the subtle to the saturated, with every conceivable variety in between. So here’s a 30,000-foot overview of how it’s happening in the marketplace.
Brand Alignment & Association
This is the low-key soft pitch approach. It relies on connections with intelligent, innovative content designed to appeal to an audience and create a brand connection with the listener.
The Message podcast, sponsored by General Electric, is the prime example of the subtle approach of alignment branding, associating GE with The Message. This groundbreaking podcast series, developed a couple years ago, was a major hit with listeners and is still considered a high water mark for podcasts and brand integration, in general.
All GE had to do was make a quiet, understated branding association: the producer credit was GE Podcast Theater, mentioned alongside Panoply Networks. In an archived article featured on Niemanlab.org, by Laura Hazard Owen, back in Nov. 2015, we found this statement by Andy Goldberg, that sums up the success of GE’s brand alignment:
“It’s like GE creating a TV show,” said Andy Goldberg, chief creative officer at GE. “I don’t consider it advertising. It’s a podcast show that just happens to be produced by a brand instead of a network. I’m not saying, ‘Hey, go out and buy a jet engine.’ It’s a science fiction story to connect listeners with what the GE brand is about, without selling the GE brand.”
Most importantly, they targeted the right audience with a unique message, using podcasting as a platform, to garner significant audience engagement & brand awareness. And they had pros, at Panoply, guiding them. Looking for a branded content play, look no further than Panoply to help.
Editorial Branding within Podcasts
A more direct approach to content marketing, internet powerhouse eBay ran the Open for Business podcast via Gimlet Media. The sponsor’s name and company is directly mentioned throughout the podcast, and often includes a feature or spotlight on an eBay associated business.
Open for Business shows how to build a business and talks to entrepreneurs about what keeps them up at night. Combining humor and intelligence, each episode tackles some of the most basic – and most difficult – questions new business owners face: How do you know when to quit your day job? What should you look for when hiring? And, it examines the good, the bad, and the ugly sides of starting a company.
They went on to state:
This podcast also marks the launch of Gimlet Media’s in-house creative agency, Gimlet Creative. Named one of the world’s 10 most innovative media companies by Fast Company, Gimlet was founded by veterans of This American Life and NPR . (You can listen to the story of Gimlet’s entrepreneurial beginnings in its own podcast, StartUp.) Gimlet Creative is all about working with brands to tell great stories, and reach audiences on a deeper level.
The content of the show focuses on entrepreneurship, and eBay was the shot caller on production throughout its run, allowing Gimlet Media to refine it using their journalistic style, which has become a hallmark of their expertise in podcasting.
Company Produced Podcasts focusing on their Products
When branding via ‘sponsor produced’ podcasts, everything is produced and distributed via the primary sponsor…completely in-house. These podcasts also give full attention to the sponsor’s primary business objectives and are produced to drive interest in specific products and to educate the public.
Many businesses are turning towards creating their own podcasts, featuring their own content…and working with networks to push out these individually produced podcasts. A podcast provides another touch-point, of which can be effectively promoted via social platforms and the companies websites & newsletters.
Sponsored Content Organically Embedded in Shows (Native Content)
As most smart podcast marketers know, this technique is the purest form of native advertising, branding that’s organically embedded in the fabric of the show. Often voiced by the hosts of each podcast, this form of native advertising has proven to be extremely effective in driving engagement, particularly for national direct response campaigns and e-commerce clients.
Companies already successfully on the podcast advertising bandwagon, like Blue Apron, Squarespace and Mailchimp have discovered this early. These brands allow podcast hosts to take advantage of their products and create personalized, quirky ads that fit their individual podcasts.
This form of ‘lean-in’ advertising has become a powerful direct response marketing tools for those that have discovered the medium…and they continue to expand their ad buys within the platform.
The Bottom Line: A Medium To Die For
As stated above, all other mediums are slowly recognizing that podcast advertising offers the purest form of sponsored native content in the marketplace…of which other platforms would die for! It’s time for other brands to follow! Have questions?
We can help put you in touch with the right industry leaders that can help take your business to the next level! Don’t hesitate to reach out to us within our Podcast Business Center!
When it comes to the podcasting industry, you’re going to hear the word authentic used over and over and over again! So what does this have to do with a podcasting article? Read on…
The Word Authentic Means Everything To A Podcaster & Publisher
The word ‘authentic’ is used often used when it comes to the podcasting industry. There’s an authenticity that radiates in the manner that a show, a story line, or a podcaster connects to their audience. Podtrac (who provides measurement technology to many shows in the industry) even extended a sales arm to their company last year, calling it Authentic.
The Authenticity Paradox
An article in the Harvard Business Review, on ‘The Authenticity Paradox“, highlights the clear definition of authenticity:
Authenticity has become the gold standard for leadership.
So why are we filling you in on the depth and use of the word authentic within the industry? Because in our humble opinion, there’s no podcasting publisher that has captured the authenticity of originality more so than NPR. And they have the statistics, revenue and track record to back it up.
NPR – The Authentic Voice of the Industry
NPR, a clear leader in the podcast industry and their powerful directory of shows has captured an authenticity unmatched by most. The word AUTHENTIC screams at you when you listen to a podcast on the NPR platform. It’s no surprise they are trailblazing a path within the industry.
Shows like Hidden Brain, Ted Radio Hour, Embedded, Planet Money, and Invisibilia are driving younger, tech-savvy audiences to discover and embrace a love of on-demand listening. To some, it’s surprising that NPR is leading the way. But to me, it’s obvious they’ve uncovered a formula that works. And they are executing a strategy that other publishers are feverishly trying to mirror.
Their podcasts create ‘authentic’ connections to their audience, a lean-in experience captivating and connecting to their millions of loyal listeners.
Early Adaptation to Platform Well Prepared NPR
The success of their shows have allowed NPR to expand offerings, test market new podcasts, and expand offerings across their entire on-demand platform. Most importantly, NPR has been producing podcasts for over a decade, as they were one of the ‘early adapters’ of the medium. Hence, they’ve made it look easy in ascending to the top during this historic post-Serial craze.
The ‘mainstreaming of the industry’, thanks to cord-cutters, changing consumption habits, and fact that 81% of Americans now own smartphones, has placed NPR at the heart of the podcast galaxy.
Lean-Forward Messaging Connects
An article by Brent Lang, in Variety back in December, regarding advertising on NPR mentioned:
“It’s a very lean-forward messaging,” says Bryan Moffett, COO of National Public Media (a division of NPR) “Everybody has taken the approach of not being too crass or commercial. They’re more conversational.” The loose format of podcasting also has an impact on the way journalists tell stories. “Embedded,” for instance, which “takes a story from the news and goes deep,” serves almost as a reporter’s audio diary. “They’re looking into topics more experientially,” says Grundmann. “Ten years ago that was kind of a no-no. But that’s what audiences are connecting with, and we feel it’s helping them understand the stories better. We’re taking them on a journey, but we’re not compromising our journalistic integrity.”
Bottom line, there’s an inherent kinship with their audience, an authentic connection that NPR has successfully harnessed by using the power of the spoken-word format. They’ve figured out a formula, incubating new shows that deliver a compelling one-to-one message to their audience.
NPR’s success in podcasting has also correlated into a substantial revenue for the company. Some public reports have stated that nearly 30 percent of NPR’s revenues are derived from podcasts. Maybe they’ll fact-check us here…but no matter how you slice it, revenue growth has been exponential.
News Gathering At Its Core ‘Correlates’ Into Success
But what really separates NPR from other publishers? It’s the fact that NPR is a news organization at its core. An alliance of professionals that literally, each day, compile news and effortlessly packages it in audio format. Hence, NPR understands the meaning of authenticity...specifically when it comes to curating content, and they understand how to tie it up in a bow for their audience.
NPR’S Muted Messaging Style Works
Finally, NPR has also capitalized on compelling marketing strategies that businesses have come to embrace….delivering brand messaging in a connected manner to an engaged audience. In an article in Ad Week, Gina Garrubbo, President and CEO of National Public Media said,
NPR’s self-described “muted” messaging style for ads is also important. It’s not a hit-you-over-the-head message.”
Discover An Authentic Love For NPR
In a nutshell, this is what makes NPR & their powerful platform of Podcasts AUTHENTIC! Brands hold the NPR audience up on a pedestal, and it’s primarily due to the fact that NPR creates quality, authentic content that’s consumed by a valued listener.
We urge you, the newpods that are discovering on-demand listening for the first time, to make NPR and their portfolio of shows one of your first stops! You can also discover & download their app directly in our Top App section.
DISCOVER EVERYTHING NPR, by going to their website: NPR.ORG – click on the below banner to discover their authenticity…or simply take one of their shows for a test drive here, at TopPodcast.com!
Everyday, decision makers are faced with driving sales and justifying ROI. Measuring attribution is one of the more painful tasks marketers face every day. Additionally, the vast choices they have as to where to allocate their advertising dollars is daunting.
Their in-box fills up weekly with dozens of emails from digital companies saying that they can provide better solutions to drive sales. The decisions that these seasoned marketers typically make are often bias towards vendors and suppliers that they are comfortable with. And it’s this complacent attitude that can hold companies back from exploring new channels to drive growth.
Complacency Within The Digital Buying Community
Yes, many agencies have become complacent using the same digital tactics that have turned to massive profits via ‘behind-the-curtain’ relationships they have with the third party providers. Complacency is holding back brands and agencies from exploring the podcast medium.
I disagree with the story on Ad Exchanger last week that highlighted three issues keeping brands from going ‘all-in’ on Podcast Advertising, highlight the lack of measurement? I call B.S.
It’s Not Because of a Lack of Measurement
I frankly don’t buy the ‘lack of measurement’ as an excuse. It has more to do with the ‘lack of education’ and abundance of ‘complacency’ in the marketplace…and the fact that the digital buying community has been more or less complicit in maintaining a status-quo with their clients.
Additionally, their clients get comfortable reviewing ‘pretty’ spreadsheets and attractive dashboards, reviewing the same tactics used year-over-year (click-through-rates, video-to-completion rates, justifying reach and targeting). Granted, determining attribution can be challenging…and is typically the most important element in measuring ROI. And I agree, that’s why measurement is critical.
Mack Weldon Figured It Out Two Years Ago
Has the broader digital buying community failed to notice the brands that have successfully dived in, like Mack Weldon, have figured out a powerful way of determining attribution with podcast advertising? So what’s all this about the lack of measurement mentioned in the story last week on Ad Exchanger?
Back in 2016 (yes, two years ago friends), Mac Weldon told DigiDay how podcast advertising has doubled underwear sales.
Collin Willardson, of Mack Weldon told DigiDay:
Podcast advertising now represents 25 percent of Mack Weldon’s overall ad budget per month, 100 times more than a year ago. The medium has become more effective than display ads for the company, because when people listen to podcasts, they are fully engaged and they can continue listening while making a purchase.We paid for native and display ads on online publications before, but we found that readers could easily get distracted by 48 things on the homepage,” said Willardson.
You can’t tell me that Mack Weldon is not measuring their key performance indicators? You can’t tell me that the lack of an industry accepted standard measurement has hurt them? Let’s just say that they’ve left many brands in their wake…and they’ve been advertising in the space for over two years.
Time To Go Beyond Pretty Spreadsheets & Cute Dashboards
But it’s time to digital marketers to look beyond a spreadsheet. It’s time to test new platforms, like podcast advertising, that utilize different tactics that many digital buyers still don’t understand.
So let me give you a three facts as to WHY advertisers should consider and ‘all-in’ strategy to podcast advertising, or at the very least, start to conduct test campaigns to measure uplift…and yes, you can measure attribution in a granular way!
So, for those of you that are considering placing your first buy, I’ll give you three facts you need to know:
1. Opt-In Listening Makes Podcasting Uniquely Different – The Purest form of Native Advertising
First and foremost, the on-demand audio experience is one where the listener ‘opts-in’, so they are welcoming you to deliver your brand message to them…and typically, they listen and engage with it. But activation typically depends on how you deliver the message…and who is delivering it.
So determining the right show and the right personality is so important to an advertisers success when it comes to a podcasting campaign. That’s where the experts at TopPodcast come in, assessing multiple publishers, networks, shows and hosts that make sense for your brand.
What’s so compelling about podcast advertising?
Brands are discovering that there’s a substantial difference in ad delivery when you are able to ‘capture your consumer’s mind’, especially when they aren’t distracted by multiple screens.
Despite the fact that many people multi-task when listening to a podcast (driving, flying, making dinner, running, exercising, gardening, etc), there is an undeniable connection created between the show and the listener…unlike any other advertising medium available because the narrative is being driven in one’s head.
As a good friend of mine once said:
You don’t listen to a podcast at a barbecue
The unique charm of a podcast advertisement, particularly when it is host read, is the fact that it’s the purest form of native advertising a brand could have.
2. The Ultimate Referral: Messages Organically Embedded in a Show Sound Natural
The kinship that a listener feels with a host can’t be underestimated. As a product becomes embedded in the fabric of a show, the audience develops a unique connection to the brand. When a host has the opportunity to taste, touch, feel or use the product the host-read ad comes across as the ULTIMATE REFERRAL. What more could a brand want? How about an ad that comes from the ‘whole-wide-world’.
An Ad That Comes from the World
Something that Ad Week covered way back in the summer of 2016 caught my attention, when speaking with Matt Lieber, co-founder and president of Gimlet Media:
When we think about how ads sound on Gimlet, we want them to feel like they come from the world of the show,” said Matt Lieber, co-founder and president of Gimlet Media
He also said:
Branded podcasts “require a brand or a marketer that’s confident enough to tell an interesting story that’s relevant to their audience”
Brands, as they enter the unique podcasting realm, must understand that a relationship is built with the audience over time. Consistency is key, and a podcast listener has the choice to engage or not. Hearing ads in a podcast sound different, and I could not have described it better than Mr. Lieber, in one simple sentence.
Bottom line, innovative companies have jumped in to the podcast medium…and they are staying because they know how their message is capturing the desired audience.
3. Listeners Feel Compelled to Support Brands…So The Show Won’t Disappear
I attended the RAIN Online Advertising summit (last year – 2017), and one of my most inspiring takeaways was hearing an executive producer of a podcast say:
Listeners (of podcasts) have a different respect for podcasters instead of radio hosts. If it weren’t for sponsors, podcasts wouldn’t operate. And many listeners feel if they don’t support the brands, then they feel the podcast may go away
The kinship and connection the audience has with a host is unprecedented. Over two-thirds of those that hear a product in a podcast research or buy. Podcast listeners have years of brand loyalty to give to brands. It’s time for us to become educated on the power of a podcast ad…and the influence hosts have to compel their audience to act.
So What’s All This Stuff About Lack of Measurement?
Yeah, you can tell I’m passionate about facing the headwinds our industry faces. I see the success brands are having in the space and I just keep patiently waiting for the tipping point to happen within the digital buying community. I do feel it coming, so I’m happy swimming in the podcast pool…and I don’t intend on going anywhere.
My simple one-sentence take:
Bottom line, the “lean-in” listening experience is unparalleled to any other digital or traditional medium…so it’s time to for brands to take the leap…just ask Mac Weldon.
Check out our Agnostic Podcast Advertising Network – Powered by TopPodcast.com
As I’ve said before, an organic host-read endorsement within a podcast is the purest form of native advertising. It’s time for brands and complacent agencies to move towards an ‘all-in’ strategy…or at least testing the power of a podcast ad!
Interested in advertising, fill out the form here (click over), and visit our agnostic Podcast Advertising Network.
An ad-free internet is coming. It creates quite the paradox, as the internet has so far sustained itself largely on advertising revenues. Up 94% in the past year, close to a third of all smartphone owners block ads that drive the production and distribution of free content. Content consumption is not shrinking by any means either, but more and more consumers are turning to ad-free paid content providers like Spotify, Netflix, Amazon Prime, or Sirius XM Satellite Radio. All in all, this is some fairly dire news as advertisers try and find ways to effectively connect with their audience.
Old School Format Brings New School Tricks
Fueled by the power of social media and smartphone accessibility, an advertising powerhouse called podcasting is on the rise. On-demand audio, and the powerful one-to-one opt-in connection the audience has to a podcast, there’s an old school/new school take on delivering advertising content.
Podcasting is effective because ads cannot be blocked on a podcast and listeners have automatic buy-in when they hear a product or service endorsed by a popular and trusted podcast host. Altogether, this medium is quickly becoming recognized as one of the most effective means of connecting with vast and varied demographics online today.
A recent study from ComScore produced results stating that by and large, more people preferred podcast ads to every other form of digital advertising online. That’s some serious marketing firepower.
Moreover, there is more opportunity now to buy in at ground level on sponsored podcast advertising opportunities than at any other time. The smartphone user crowd find podcasting an attractive option because they can multi-task while consuming content, and according to a new report from Edison research this trend is driving the greatest period of growth podcasting has ever seen.
The Listenership Trajectory Is Growing
The Fastest Growing Segment is Under 55
While the fastest growing listener base is the under 55 crowd, these listeners are spending roughly four or more hours a week taking in, on average, up to five podcasts of varying types every week. These power listeners constitute just over 21% of all podcast audiences.
Podcast Listeners Tune In Nearly 5 Hours Per Week
At an average listening time of three to five hours per week, this audience is an extremely desirable target market for just about every brand because podcast power listeners are typically more educated and possess more disposable income than the average American.
Engagement Unlike Any Other Digital Medium
Best of all, statistics show that regular podcast listeners are nearly 20% more likely to follow and engage with your brand on social media than the average American consumer. Engaged and active podcast fans on social media mean higher ROI for your marketing clients, and significantly more revenue from social media and podcast advertising investment.
Hard statistical data that accompanies podcast advertising cannot be ignored. Many major Podcast hosts have national recognition and have successfully branched out their brands via powerful social media platforms, ultimately expanding the reach of advertisers as they align their brands with the hosts.
Many popular stand-up comedians have taken to podcasting weekly as a means of testing new material in a lower-pressure venue, and many journalists and reporting and news agencies like CNN, the BBC, and Fox News are all providing podcast based content for their tech-savvy, multi-tasking audiences. Highly respected educational institutions like M.I.T and others are publishing backlogs of lectures and content for free in order to drive interest and attendance, and to better the world by providing access to higher education and studies that would otherwise never be available to most Americans.
Podcasting is fast becoming the new mega-media power online.
The Digital Community Needs To Specialize in Podcasting
If you are a marketing or digital advertising provider, you need to develop an in-house strategy now, and not view podcast advertising as a ‘throw-in’. It’s still a buyers market, and educating your teams on the power of podcast advertising is imperative for the benefit of your clients.
There is no purer form of native advertising
Get your research team working on podcast advertising, and start familiarizing yourself with the best podcasts to reach your target market with your brand. Better yet, rely on a podcast advertising expert that understands the industry. Podcast advertising provides a win-win for consumers and advertisers, offering brands a unique reach unlike any other medium. Bottom line, you now have a medium that can cut through even the most powerful ad-blocking software on the market today. Choose podcast advertising and be a part of the fastest growing marketing opportunity online today.
Bottom line, you now have a medium that can cut through even the most powerful ad-blocking software on the market today.
Editorial Note: Check out our Podcast Business Center to Unlock all Industry Data, in one spot!
Digital advertising has long held significant advantages over traditional advertising mediums because of its ability to geo-target by location, age, demo, etc. Conversely, podcast advertising wasn’t built on the back of targeting, despite the fact that ads can be auto-inserted into podcasts.
Targeting is Evolving, Especially with Long-Tail Podcasts
Yes, scaling campaigns on a very targeted level has been embraced slowly due to staggered delivery methods across thousands of shows in all geo’s around the country. But, with all the evergreen content available with long-tail podcasts, we’re starting to see a pivot and AdsWizz is all over this technology.
But today, let’s look at how e-commerce and podcasting advertising work together. The explosive rise of e-commerce & retail technology is playing right into podcast advertising’s hands. A small business with a one-storefront shop should find podcast advertising highly valuable, especially if they have built out a powerful e-commerce platform to deliver their products to a targeted online audience.
e-Commerce Plays Into Podcasting’s Hands
Simply look inside the e-commerce numbers and you will see an ‘oil well’ of opportunity for any podcast publisher to drive revenues. Cyber Monday sales this year set a record, delivering $3.5 billion in sales. That’s a 12% increase over last year, with smartphones accounting for more than one out of every five sales. Better yet, from Thanksgiving through Cyber Monday, according to Adobe Digital Insights, consumers spent $12.8 billion online. That’s right, $12.8 billion with a b. Many online merchants advertised and offered substantial discounts several days leading up to Black Friday.
These marketing strategies, via e-commerce, sync up perfectly to the podcasting advertising industry, and we need to make noise within the digital buying community to better educate them!
As e-commerce continues to increase its share of total retail, the podcasting industry must penetrate this market with fervor. We must educate the buying community on the power of podcast advertising in order to increase our share of any digital budget. The rapid migration to e-commerce provides unprecedented sales opportunities for the entire podcasting industry. Have we done anything, in a unified voice, to untangle the web of choices for small to mid-size businesses to place podcasting buys? Not so much. We need to amplify our strengths, demonstrating together just how fervent and loyal our audiences are. Bottom line, podcast listeners are an e-commerce advertisers dream.
e-Commerce is a dream for the podcasting industry.
No longer do people fear entering their payment details to virtual merchants. Omni-channel marketing has become a major part of any brand strategy. And the speedy delivery of online retailers, logistically, has evolved into infinite choices for consumers. Through advocacy & education, controlling the narrative, and untangling the vast choices businesses have, the podcasting industry should take major strides forward in 2017 and beyond, driving ad revenue. I truly believe, once we finally control the narrative within the digital buying community, we can surpass $1 Billion in ad sales by 2021.
But we must integrate podcasting into the daily digital conversation of e-commerce prospects, as well as the digital buying community…first, by educating ourselves on the complex integrated e-commerce strategies businesses are using. And then, by telling our story on how podcasting advertising syncs up perfectly to any e-commerce marketing strategy. The rise of e-commerce is an oil-well of opportunity for the entire podcasting community.
It’s time to tell our story, in a unified voice, gaining the digital market share we deserve.
The current podcasting environment, and all the choices within it, surprisingly has many parallels to the craft beer industry. As we continue embarking on what seems to be the golden age for podcasting, the industry itself is going through many of the same growing pains that the craft brewing industry has already experienced.
As some casual beer drinkers eventually changed their consumption habits to craft beer, they are faced with a vast amount of conflicting choices. Conversely, podcasters (and networks & publishers) to a certain extent work to stand out in what is a very crowded and cut-throat environment.
How does one stand out in such a congested marketplace? Independent podcasters and upstart networks battle daily to make themselves relevant in what some see as a diluted and complex industry.
The Mainstreaming of Craft beer Parallels Podcasting
Independent podcasters looking to make their mark swim upstream daily, fighting to compete with the big boys. Success is viewed in inches, or downloads, hoping to have your show discovered & captured by consumers looking for choices syncing up to their interests…the same way new craft beer roll-outs fight for your attention via units sold.
An article by Tamara Scully, in Wine & Craft Beverage News noted:
Craft brewing has launched itself into the mainstream, and in doing so has encountered growing pains. Like all awkward teenagers, developing into adulthood isn’t without a few missteps, some conforming to the crowd, and possible “selling out” of closely kept ideals, which may not fit in with the reality of the adult world. What will the emerging young adulthood of craft beer look like in the near future?
Replace the word ‘craft brewing’ with podcasting, and the same theory may apply.
Staggering Amount of Choices Can Create Paralyzation
I can’t help but correlate this sentiment (paralyzation) to the world of podcasting, especially for the first-time listener. Their vast choices, when it comes to consumption, is staggering. As a craft-beer lover, walking into a Beer World while absorbing the staggering amount of choices is agonizing.
Psychologists and economists alike have studied the issue of ‘too many choices’ and have openly concluded that an overload of options may actually paralyze people or push them into decisions that are against their best interests. It might even drive them away.
To a first-time podcast listener (newpods), many are overwhelmed with choices and the cumbersome path to discovery. Moreover, new networks and new show choices can inundate the novice listener, so much so to the point of frustration.
Selecting a Craft Beer vs. Choosing a Podcast
To be clear, I’m not directing this article to the die-hard podcast listeners, as most of you have already figured out ways to cut through the white noise of the industry. However, the sheer number of options within both industries can confuse even the most enthusiastic consumer.
As VinePair.com eloquently stated:
Craft beer can be confusing and even a bit snobby & intimidating, depending where you’re purchasing your brew.
Seasoned pro’s and raw newcomers intersect daily while some ‘snobbish’ insiders even frown upon (or snicker) when a new podcaster feverishly works to promote their show. Others judge those that have never listened to a podcast while craft beer aficionados like to make sure you know that they know their shit.
But the majority of us are here to act as a Sherpa for newcomers, helping navigate such a crowded pool. That’s what TopPodcast.com hopes to do…be your sherpa to the summit of podcast discovery.
Yes, podcast die-hards have figured out where, when and how to discover their favorite shows…but many of the people I know can’t even find the Apple Podcast app on their iPhone, let alone know what the hell Stitcher is.
Craft Beer Continues To Consolidate…When Will Podcasting?
Until the industry decides to consolidate into a more meaningful way of distribution (Netflix for movies, YouTube for videos), ‘newpods’ (and businesses) are going to continue to find themselves confused and frustrated by the staggering number of choices at their disposal.
There’s no doubt mega-mergers and consolidation ultimately will happen in our industry as it’s happening in the beer industry. But as long as consolidation doesn’t impact our freedom of choice, or most importantly, negatively impact the new independent voices entering the podcasting industry, we will embrace it.
Every day, another network or show seems to be launching. New platforms will say they can simplify search and podcast discovery for you…and they might even charge you for that right. Really?? Yes, greed sometimes comes in unique forms.
Don’t Be Paralyzed – We Simplify Discovery for First-Timers
TopPodcast.com hopes to prevent first-time listeners from becoming paralyzed and turning away from our amazing industry. And we won’t charge you for the right of discovery…
And we’re here to help prevent you from being paralyzed with choices!
As we’ve watched digital advertising become devalued over the last few years and the adverse impact that national network buys have had on radio, podcast advertising is at the crossroads on protecting CPMS’s. While programmatic ad insertions certainly will drive revenues, the industry must walk a tight-rope to protect rate-integrity, especially when it comes to ‘live organic reads’ which still differentiates our industry from other mediums.
Dynamic Ad Insertions And Its Double Edged Sword
Dynamic ad insertions, while providing ‘highly targeted’ messaging, has devalued digital advertising to a level in which many publishers are reaping what they sow. They all wanted a seat at the table yet collectively they’ve helped drive down digital ad rates. The depreciation of digital display advertising CPMs over the last few years has been mindblowing.
Programmatic buyers are now steering the ship, not publishers. Radio is experiencing this exact same thing on the national and network buying level, attracting bottom-feeder rates that are adversely impacting the industry.
Why This Matters?
The podcast industry still has an opportunity to control the impact of programmatic campaigns
Digital advertising is at the crossroads with ad-blocking technology, bots, and the devaluing of rates that have adversely impacted many publishers.
Digital technology companies and ad agencies reap the benefits of skimming margins off of programmatic advertising campaigns. These companies have diluted rates, caring only about delivery, delivery, delivery and completely discounting the user experience.
The charm of podcast advertising remains that it is not oversaturated with advertisers
Native advertising trumps programmatic, and podcast advertising is the purest form of native advertising
Algorithmic Platforms Drive Revenues & Dilute Them Simultaneously
It’s exciting that technology is moving the podcast industry towards an automated algorithmic platform of ad-buying. The digital buying community will embrace this. However, if we don’t protect CPM’s, particularly for live reads, we will watch our endearing industry dilute itself the same way many online publishers have already done so.
Ask any major online publisher how the dilution of the digital advertising space has adversely impacted their business. The price-per-banner rate they get today is exceptionally lower than it was 5 years ago. A deeper dive into the ultimate affect programmatic advertising has had on publishers highlights the ill-fated consequence of giving up control to programmatic buyers.
Radio Victimized By National & Network Buys
All the podcast industry has to do is look over their shoulder at the impact this type of buying has had on the radio industry. The word ‘rate integrity’ is virtually meaningless now when it comes to a national and network buys. Radio has been victimized as they’ve all been pushed around by national buyers, pushing down rates to levels where it almost makes sense to walk away.
I can use less colorful language to express what has happened, but I’ll choose to take the high road. Let’s just say they’ve been ‘easy’ to get over on by the buyers that now control them. Again, falling victim to the buyers that make money on campaigns is what has cost Radio. Hopefully, the podcast industry will not fall victim to these same mistakes.
Industry leaders must step up together and control its destiny rather than be controlled by the buyers and/or the technology companies delivering the campaigns. I particularly appreciate that fact that podcast companies like Panoply have kept their CPM’s high, even via their dynamically inserted Megaphone Target Marketplace platform.
Excess Inventory Needs Sold But At What Cost?
We agree that there is a place for programmatic inventory in the podcast industry. But I’m most concerned about protecting the integrity of ‘live reads’ vs. selling out the excess inventory available in podcasts.
As Acast’s Chief Revenue Officer Ross Adams said in an article in TechCrunch.com earlier last summer:
Many of them (podcasts/shows) don’t have large enough audiences to either attract or make much money from custom sponsorships. With the programmatic marketplace, they don’t have to spend any time or resources dealing with advertising — the ads will just be placed automatically.“Just release your show and know that you’re starting to build a revenue stream,”
Trust me, I am all about driving revenue for content creators, networks, and publishers. But as mentioned earlier, the charm of a podcast still remains that it is not oversaturated with advertisers. And I don’t think it’s as simple as ‘just releasing your show’ to programmatic advertising and see what happens next. It has to be controlled chaos vs. the wild wild west.
The key will be having industry leaders protect what rates they accept on these platforms. But the industry must be in sync with each other or else they’ll also turn advertising units into a depreciating commodity. It will be a dog-eat dog world, devaluing the lean-in listening experience.
If you can hold rates above a $5 to $6 CPM for excess inventory, it may work. But once you start diluting rates below these levels, say goodbye to sustainable profits and hello to saturation that coincides with a less enjoyable listening experience.
Dynamic Ad-Insertions Makes Sense for Long-Tail Shows & Digital Buyers
Targeting major shows with programmatic advertising makes sense, especially for shows that have massive reach and long-tales (like Serial or any of the top podcasts that have recurring listenership dating far back). But we must limit the threshold of where these rates land or ‘buyers’ and ‘technology companies’ will once again take control of another industry, lining their pockets at the expense of publishers.
Programmatic will be an asset to podcast publishers aggregating their networks and capitalizing on excess inventory, however, they must utilize it in a way that doesn’t dilute the medium or over-saturate their shows simply for additional revenues.
Having the ability to target via dynamic ad insertions, the way Spotify & Pandora can (age, gender, interests, etc), will also attract the digital buying community, finally choosing to give podcast advertising a chance to compete with a digital buy.
Responsibility Is The Key But History Typically Repeats Itself
Finally, with programmatic advertising comes great responsibility. Will industry leaders choose to dilute rates simply for short term revenue spikes? Will independents align with technology companies promising revenues through cheap, bottom feeder programmatic rates? Will ‘middlemen’ continue to make money off the back of publishers?
The key: Do not fall victim to the mistakes we’ve seen simply by accepting bottom-feeder rates to fill inventory gaps. We’ve seen this in all major media mediums, both traditional and digital.
News publishers and advertisers are both economically incentivized at this point to cut out the “middle men” in the digital advertising supply chain. Procter & Gamble Chief Brand officer Marc Pritchard told Axios last week he thinks only 40% of ad dollars make it to publishers after ads are done going through ad tech middle men
Retaining 40% is pathetic. It’s time to bring control back to the publishers and content curators.
But history typically repeats itself…and greed typically trumps intelligence.
Everyone is going to want a seat at the programmatic table…but at what cost?
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