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Podcast Advertising 2021: Are Your Podcast Ads Effective? Now They Will Be!

With millions of listeners tuning in every day for their favorite podcast shows, the endless opportunity of excelling and making a decent paycheck out of your hobby has become easier than ever.

Podcast Advertisements are a great way of promoting one’s products and services, and brands understand the power of this newest entertainment obsession. According to the Bridge Ratings’ Podcasting Audit Study, seeing the potential of exponential growth advertisers will be spending about $500 million on podcast advertisements in the year 2021.

Creating a flourishing podcast isn’t easy, but harder is to promote other brand’s products and services. Fortunately, some proven ways can help you get your word out effectively. So, here is everything you need to know about podcast advertising and ideal ways to market it:

Why Is Podcast Advertisement Growing?

With the steep downfall in the effectiveness of traditional advertising mediums in the past couple of years, advertisers are ready to pay more money for podcast advertisements. Studies have revealed that podcast ads stand head and shoulders above the previously popular traditional forms of display advertisements.

Podcast being a highly engaging platform, its listeners make up an excellent audience for selling brand’s products and services. With deep respect and trust for the host, the podcast audience is more respective to the advertisements, their favorite podcasters have decided to endorse.

Podcasting is an awesome medium for promoting any brand, but many times the results might not be as fruitful as expected because of several mistakes. The three most important things that every brand needs to be aware of while selling its services or products through podcast advertisements are:

  • Understanding the nature of your targeted audience
  • Creating or investing in podcasts focusing or appealing to your intended customers
  • Tailoring ads to make them more suitable for your brand conversion goals

Type of Podcast Advertisement & Cost Models

For creating our performing ads it is important to know the basic framework of the podcast ads. Below are the types of ads a podcaster can choose from along with its cost structure:

Host-Read Ads

Just like what it sounds, a podcast host reading out affiliate advertisements, and sponsorship messages in their episode is known as Host-Read Ads. This form of podcast ads sounds more authentic and trustworthy to the listeners in comparison with the ads read by some unknown voice. It is a great option for promoting brands which are not going to change its services or product for some time but might not be the best option for time-sensitive elements.

Dynamic Ad Insertion (DAI)

This technology plays pre-recorded ads via an ad server. This form of advertisement provides an easy update and better flexibility of fresh time-sensitive ads. Though it has a highly effective distribution mechanism, listeners still prefer host-read ads over DAI.

Pre-roll and Mid-roll Ads

While purchasing ad space in podcast episodes, advertisers often prefer pre-roll ads and mid-roll ads (played at the beginning and amidst the episode respectively) over post-roll ads played at the end of the show.

CPM

These advertisements are priced based on the Cost Per Mile model (CPM). Being the cost of a thousand plays, CPM is best to fit bigger podcast shows. This is how much it cost as per the ideal industry standard, according to AdvertiseCast:

  • For a 15-seconds of pre-roll ad, $18 per 1,000 listens
  • For a one-minute mid-roll ad, $25 per 1,000 listens

CPA

Another advertising model for podcasts is Cost Per Acquisition (CPA). Instead of impression this model structures profit based on the number of conversions and is ideal for smaller shows because there is no upfront cost.

How Can Brands Buy Podcast Ads Space?

If you are a brand in search of podcasts to promote your brand’s message, there are few ways through which you can find your ideal podcast’s ad space:

Podcast Ads Network

By joining a podcast ads network you can save yourself a lot of footwork. Podcasts are always looking to sell their ad space with the best fitting brands in such a network, and it will be a lot easier for you to choose the show working under the same niche as your brand.

Because of the upfront financial commitment, working with a podcast ad network is always a better option for bigger brands, especially if their advertisements are time-sensitive.

Individual Podcast

Despite begin time-consuming, by running your own campaign you can have more control over your advertisement’s placements, flexibility, and pricing negotiation. Dynamic ad insertion will not be an option through this method, as most of the ads will be host-read.

It is best for brands trying to run a short ad campaign and just want their message out to their targeted audience through the show.

Podcorn

Podcorn homepage with a picture of headphones and icons for both brands and podcasters

As an open marketplace for podcast sponsorship, Podcorn is capable of connecting your unique brand with unique podcasts. This platform makes your discoverable to podcasts looking for selling their ad space. Joining Podcorn is a great way for brands not looking for hustling in finding the perfect show but still want some quality matches.

How Can Podcasters Sell Ads Space?

If you are a podcaster and are on a hunt for selling your ad space then here are your options:

Podcast Ad Network

Working closely with a podcast ad network is an excellent way of finding sponsors for your show, but it usually works best for bigger podcasts with 5000 or more downloads per episode. Furthermore, being a part of this network can limit your control over the types of brands and ads that will be inserted in your episodes.

Working With Individual Brands

Reaching out to your favorite brands for sponsorships is so far the best way of maintaining full control over your ad space and the brands you work with.

You can seek brands either through personal contacts or via Buzzsprout’s Dynamic Ad Content Tool for adding host-read advertisements in your episodes. It can be slow-going at the beginning, but it will surely benefit you in the long run.

Podcorn

15 Best Podcast Hosts for Monetization in 2021 [Free + Paid]

As like brands, you can also create a profile on Podcorn and be visible to brands under the same niche as yours, offering your ad space. It will eliminate the footwork for tracking down brands, and arranging meetings with individual advertisers.

How to Run a Successful Podcast Advertisement Campaign?

Running a successful podcast advertising campaign in your ad space would require time, money, and some market strategy. Whether you are using a podcast ad network to run the campaign or you are doing it yourself, these are some basic guidelines that can help you succeed:

  • Always set an investment amount for your ad campaign
  • Tailor your ads according to the advertiser’s service’s or product’s demographics
  • Determine whether your listener would be more moved by the ad, in the beginning, middle, or end of the episode, and then choose the placement wisely
  • Craft a clear and effective message
  • And finally, always measure your success, and keep experimenting for better results

Podcast advertising is a relatively new approach for fetching more audience towards any brand’s products or services, but as with any marketing strategy it needs work. Implementing the above strategy could help you find your ideal sponsor, and brands can find more loyal customers, but in the end, it is what works best for you.

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