The idea of podcasting stems from audio blogging. Audio running a blog is just what it sounds like, a blog that a person recorded, rather than typed, and posted on a blog site. Today this is general, but in the mid 1990’s until about 2003 audio running a blog was a posh procedure. Then in the early 2000’s Adam Curry along with Dave Winer began what’s now regarded the 1st podcast called “Daily Source Code” I won’t get into all of the boring particulars about coding and RSS feeds but these guys began hosting a show and folk began listening.
Then these early listeners started their own shows, which continuously enhanced the coding making podcasts easier to make. Since Adam and Dave began their show “Daily Source Code”, podcasting has become probably the most quickest growing mediums for information and enjoyment in the past five years. It is now a very various medium then what it began out as. Podcasts have accumulated tens of millions of listeners and hundreds have started their own a success podcasts. In the marketing world it has grown from a fringe medium to anything business and organizations are devoting whole advertising teams towards.
Yet, I wonder if this is that this just a fad?Can podcast really become probably the most biggest mediums for advertising?Can it compete with social, search and tv for ad buys?Last week Facebook announced that it had five million alternative advertisers that used its site this year alone and a million alternative advertisers used Instagram 5kTPoBv7mqd. Buying ads via Facebook or Google Ad words has become the dominant medium for advertising ago five years. This is because of the board reach online ads have combined with the skill to in my view target consumers based on data collected on the consumer while they’re online. As these platforms are becoming more usual they are becoming less positive in using sales for smaller organizations. Facebook and Google Ad Words operate as an Ebay for agencies searching to buy clients.
Businesses bid on where and when its ads could be placed in front of a particular demographic of client. Customers are divided up into demographics based on their online activities. The bidding procedure is a way of at once concentrated on a bunch of clients that a enterprise believes could be more likely to buy its product or carrier. However, these markets have become over saturated with advertisers thus using the price of ad space up in the course of the bidding method. The over saturation of social media and search engine advertising mediums will lead dealers to look for a new medium. This is where podcasts could provide the next great space for advertisers.
Podcasts offer an online/mobile promoting space that is not yet over statured. There is not yet a platform like Facebook or Google Ad Words that makes up a majority of ad buys in the distance. According to a study done by Edison Research and Triton, 21% of Americans aged 12+ take heed to a podcast in the last month. To provide some context for what 21% of Americans aged 12+ represents, 13% of the USA listens to Spotify month-to-month, and 21% of the nation uses Twitter . According to a Pew analysis study done on podcasting in america, the variety of podcast downloads has elevated each year since 2012.
Below is a graph of variety of podcast downloads from Libsyn. All great mediums need a publishing platform from which the customer can access content. Since podcasting is an emerging medium there are numerous structures trying to become the soul source of podcasts. These structures range from having alternative club programs with a lot of added tech aid and lines like LibSyn. To completely free do it your self structures like Podomatic.
The platforms with the most amount of uploads and downloads contains the Apple podcast app, SoundCloud and LibSyn . The Apple podcasting app provider drives probably the most traffic but lacks basic statistical reporting to publishers. This makes it totally hard to trace the reach and effectiveness of advertising on this platform. SoundCloud is a free publishing service that provides publishers basic reach data. It also has over 175 million month-to-month listeners around the globe.
This is a great option for podcasts that are just beginning out and seeking to get discovered. Then there is LibSyn, a paid provider that is on the leading edge of providing advanced metrics to podcasters. If podcasting keeps rising in popularity I see that two or three major publishing structures would come to dominate this market. The platform that is able to seamlessly blend publishing tools with superior metrics becomes the Google Ad words or Facebook of the podcasting medium. Podcasting promoting is not something that’s new to firms. In fact firms like Graze.
com and Dollar Shave Club were early adopters of podcast ad buying and have become staples of the podcasts that they promote on. This could be one of the vital demanding situations corporations will face when coming into the podcast advertising medium. According to Midroll Media in September 2016, 95% of ads were read by hosts of podcasts . Many of the early adopting firms, the fact is, are becoming a part of the rapport between hosts and listeners. The rapport that early adopting companies have built with listeners gives them credibility compared to a corporation that has just started promoting on a podcast.
I these days skilled this with my favorite podcast the TED radio hour. I have listened to this podcast for the past few years. A majority of shows have the same ads week in and week out. There will always be ads for Squarespace, Graze. com.
However, the last podcast I listened to had different sponsors. The old ads were part of the show but if they changed I noticed and found myself asking where were the standard ads?Podcasting might be the only medium that I remember the ads after I am done listening, observing, interacting with it. My hypothesis on why I can be aware the ads is that, when I am listening to a podcast I am closely listening to the host’s voice for assistance. When a host reads an ad my brain doesn’t register that it is an ad as it continues to be an identical voice that I was intently listening to for counsel just moments before. I give the host credibility because they’re conveying suggestions I want to devour.
When the suggestions switches to an ad however the voice, tone and birth stays a similar I continue to listen an analogous way I was before the ad began. I am not tuning out the ad because it sounds just like the podcast content material. This is why I think the podcasting medium gives me better recall of an ad. Regardless if my speculation of why I have the next recall is suitable or no more corporations should flock to advertising on podcasts. As a podcast becomes more a success there will be elevated competition among companies that are looking to promote with that podcast.
The in advance a corporation can put money into promoting with a podcast the much more likely listeners will view the ad as biological or having credibility. Early adopters of any medium could have this effect on the perception of its ads on that medium. However, what differentiates podcasting from other mediums like search and social is that there are countless structures for corporations to choose to advertise on. Podcasting will always have new shows to choose between. If a show like the NPR Ted Radio Hour becomes too expensive for a company there are numerous other podcasts it could switch to.
When buying ads for search engine marketing there are two big platforms Google Ad Words and Bing Ads. In which, you have to bid for ad space. If a competitor of your enterprise wants an analogous ad space then there will without doubt be a bidding war that drives up the cost. There is not a lot that a business can do to bypass this bidding war in the event that they want to advertise in that space. In social media promoting there are five structures Facebook, Twitter, Instagram, Youtube and Pinterest. Podcasting has hundreds of structures for a firm to decide to advertise on.
Every show offers a platform from which an organization can decide to promote on. These shows range from having hundreds of thousands of weekly listens like NPR’s “Wait Wait… Don’t Tell Me” or a few listens for a show that a highschool scholar started in his parent’s basement. This gives podcasting an competencies of being easily scalable compared to other digital mediums. The scalable nature of podcasts goes beyond the quantity of listeners each podcast has. Podcasts offer a large range of area fabric that draws alternative listeners.
Each podcast has a special message and motif that may resonate with an individual or group of individuals. For this reason, podcasts can be utilized to in particular target sure groups of people that would be more likely to buy a undeniable product or carrier. For example, lets say you are the pinnacle of the electronic advertising branch for a bicycle brand. Here is a list of forty biking podcasts you could decide to promote on . These podcasts all center on cycling but each offers its own attitude on the biking world. So, if one wanted to market an innovative new bike frame they could choose a podcast like the Telegraph Cycling podcast that makes a speciality of new gear and technology.
If say, one desired to promote the brand by athlete endorsement you can decide to promote on The Bike Show. This podcast is more focused on the world of professional cycling and biking tradition. Podcasts offer organizations a very good testing ground for its advertising and marketing efforts. Organizations can choose how many people it is attempting to arrive while also selecting which section of a market to focus on. Then, to easily track the results offer various promotional codes to different podcasts to better take into account which commercials are operating where.
When browsing in opposition t the next five years podcasting will face many challenges. According to a similar Pew analysis study referenced above in 2015 advertisers spent $34 million dollars promoting on podcasts. This represents a tiny fraction of total ad buys in the advertising and marketing industry. But, makes up almost all the revenue generated by podcasts. The reason for the lack of money spent?According to the Pew analysis study even though the podcast medium is growing the lack of good metrics prevents many corporations from investing. The two best metrics podcasts have for measuring reach is downloads and the quantity of people that subscribe to a podcasting channel.
Downloads give retailers the variety of times an individual clicked the download button. However, it fails to tell marketers if the folk clicking download basically listened to a couple, part or the complete podcast. The reality of the down load metric is that it is a weak measure of exact listenership. Because of how podcasts are ate up it is hard to judge listenership from a retailers perspective. In this way, podcast ads are like tv promoting.
It is almost not possible to inform how many people actually take heed to the ad. Just as a result of a person clicked download does not mean they listened to the podcast. Conversely, someone may have listened to the podcast with thirty of his or her closest chums. Both of these eventualities still only tell the marketer that someone downloaded the podcast. The other measure of reach is the quantity of people that subscribe to a podcasting channel.
As of now publishing structures don’t have the potential to correlate downloads to a subscriber list. This means publishers don’t know the percent of listeners that are subscribers and listen every week. Or how many people listen once and never tune in again. The list of statistics publishers and dealers would like to find out about podcasting is growing to be each year. This is a significant reason bigger firms have been hesitant to put money into podcasting.
The loss of data available when reporting on podcasts is the biggest problem facing the viability of podcasts in the next five years. The largest publishing platform the Apple podcast app doesn’t supply basic facts to publishers on the reach of podcasts . The change to an alternative platform is already occurring. Platforms like SoundCloud and LibSyn have found out the desire for tracking and data. Both systems offer paid amenities to publishers that may track the number of downloads and variety of subscribers to exact podcasts. The need for advance metrics that account for online streaming, amount of times a show was listened to and where it was played plus a multitude of alternative information is a necessity.
The graph shows that podcasts have had intervals of short excessive growth followed by a dip in popularity. Right now, podcast are turning out to be in popularity at a high rate. To avoid a dip as seen in 2006, podcast publishing structures must have the ability to provide sophisticated metrics to sellers. If superior metrics can be effectively integrated into publishing systems many corporations that were hesitant about investing in podcasts will rethink about making an investment. The good fortune of the podcast medium in the next five years is reliant on organizations buy more ad space.
To accomplish this, the need for superior metrics and monitoring like those accessible in other electronic mediums like search engine advertising and social media advertising are needed if this medium hopes to sustain this growth.