Do you listen to podcasts? When, where, and how do you digest this type of content? What topics do you listen to? With 32% of the US population tuning in to podcasts on a monthly basis and 82% saying that they watch more than 7 hours a week, you are not alone. This is also a huge medium that can be harnessed for marketing efforts with 65% of podcast listeners saying that they are more likely to purchase a product because of a podcast.
Utilizing podcasts as a medium for marketing is highly underappreciated and underused. It is essentially the modern revival of talk radio and audio blogs. This medium has an incredibly dynamic format allowing it to be consumed in the background at the office, in the car on the way to work, and at the gym. They can even be visually, as well as audibly, available on smartphones, TVs, and computers making them accessible to virtually everyone who has a device with a connection to the internet. Although some podcasts have a video element, it is generally understood that this type of media is usually consumed in the background while doing other activities.
This platform allows for trust to be created and fostered between the host and the viewer as they are trusted by over 45% of their listeners. It also allows for community engagement and growth through the chatbox, comments section, and inviting guests on the show to co-host and co-brand. The main reasons for B2B companies to use this medium include cost-time efficiency, active listening, building relationships, branding, and the deployment of brand elements (Logdberg & Wahlqvist, 2020).
Not only can personal/company channels be utilized, but there is also a whole array of influencers that may be accessed in order to reach very niche and specific demographics. This allows for hyper-targeting with the data of the audience of influencers at the tips of our fingers.
Podcasts are not only useful in a B2B context, but in a B2C context as well. There is an ongoing opportunity for organizations to be empowering their customers by arming them with highly useful knowledge that is pertinent to the organization’s set of expertise. Three out of every four podcast listeners say they tune into podcasts in order to learn something new (edutainment), and these individuals may be retargeted even further with 37% of the audience using the podcast ads to further research brands. Using the edutainment approach to marketing is exceptionally useful as not only are customers gaining useful insight into the knowledge the organization holds, but they are also executing this in a fun, entertaining way to captivate the audience. This last piece is very important, especially in the attention economy where the attention span of viewers is declining and the number of impressions needed to make an impact is increasing.
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