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You can choose to promote your product or service through podcasts or radio. Both have their strengths and weaknesses. Radio is preferred by millennials, while podcasts are preferred by other demographics. Podcasts are often amateur productions, but you can build a loyal following.
In this article, we will compare the pros and cons of podcasting and radio. You’ll also learn about the shelf life and Ad spots of both formats.
Millennials listen to radio more than any other demographic
Millennials are a growing segment of the population. They represent a majority of radio listeners, accounting for 66.6 million people compared to 57.9 million people in the Baby Boomer and Generation X demographics. In 2015, millennials spent 11.5 hours with the radio, which represents a significant percentage of the population.
Radio is the top medium for this demographic, reaching 93% of all millennials between the ages of 18 and 34. And with the increase in streaming and mobile apps, millennials are even more connected to radio than any other generation.
While AM/FM radio still attracts listeners, younger millennials claim to spend a mere 12% of their time on it. And radios are getting outdated. According to Nielsen’s Comparable Metrics Report for the second quarter of 2017, 245 million adults in the U.S. listened to the radio in any given week, which is much more than the average for any other demographic.
Millennials may not listen to the radio as much as previous generations, but their younger generations have better listening options than their parents did. Furthermore, millennials’ parents have caught on to streaming. Moreover, more devices have wi-fi capabilities, which makes streaming more accessible than ever before. Streaming will become the primary audio medium of the future, so the media industry needs to focus on attracting this demographic.
The Millennials and Gen Z generation are a diverse group of audio listeners, which are primarily driven by smartphones and streaming audio. While AM/FM radio reaches a majority of the 13+ population, Gen Z listens to audio on their smartphone. Moreover, they spend 58% of their time in the car listening to audio. So far, these are some interesting statistics about the Millennials and Gen Z audience.
While older generations still listen to radio, younger generations have turned their ears to streaming services and on-demand options. In fact, they don’t listen to the radio nearly as much as older generations do. In fact, streaming platforms now account for a fifth of all millennials’ daily listening, while radio accounts for just 24% of all other demographics. And millennials’ audio consumption is growing faster than their older counterparts.
Direct response marketing vs podcasts
When comparing direct response marketing to podcasts, a big difference may be the method for tracking results. Podcasts typically have loyal audiences. Direct response ads tend to remain on a podcast for several episodes, which may encourage listeners to act. Another difference is that podcasts are often self-produced, which means that advertisers can avoid the censorship issues that plague other forms of audio content. In addition, podcasts are also easier to track, as listeners do not need to leave their homes to participate in an advertisement.
In 2017, the IAB released its first guidelines for measuring podcasts. However, they did not include any metrics that would help advertisers measure downloads, audience size, or ad delivery. Without audience measurement, direct response brands were only comfortable purchasing podcasts, even though they could track ROI using promo codes. Today, podcasts can help advertisers drive substantial sales. However, podcast advertising requires a lot of patience. In addition, it requires a great deal of creativity.
Although podcasts are still in their infancy, they have already shown impressive growth in the past three years, and the numbers are rising. Podcasts reach an audience of over 50% of US adults ages twelve and older each month. Additionally, ads read by hosts outperform canned “programmatic” ads. However, the production and testing costs of podcasts are higher compared to digital channels. So, how does this compare to direct response marketing?
Although brands have a much higher share of podcast advertising than other forms of digital advertising, this difference is still quite small. Direct response ads account for approximately 45% of total podcast revenues, while branded content makes up only 15%. While direct response represents just two-thirds of total podcast revenues, podcast advertising spend grew by 53% over the same period. The vast majority of podcast spending is directed towards brand advertising, while direct response ads represent only twenty-five percent.
Despite their similarities, podcasts are much more difficult to track than direct response marketing. While direct response marketing is the best way to increase brand recognition, podcasts also have more limitations. Oftentimes, they require much greater frequency than other forms of digital or traditional advertising. In addition to that, they can be more difficult to track the number of podcast listeners. So, before choosing between direct response marketing and podcasts, consider your goals and the channel you’ll use first.
Shelf life of podcasts
You can discover a new podcast every day, and there are plenty of free ones to choose from. But what about the Shelf Life of Podcasts? What’s so great about these programs? These programs explore a new topic each week, such as education. For instance, one podcast is about housing discrimination in the Central District, while another is about community organizing to combat the discrimination in the housing market. Both podcasts highlight the importance of social justice and community cohesion, and the Shelf Life series is no different.
The podcast creators should credit their work when possible. It’s even better if they’re credited! In case you didn’t know, the Shelf Life Community Story Project owns the copyright for each episode. In addition, each episode will be ranked differently. That way, the audience will be able to determine which episode is better than another. And because of that, the Shelf Life Podcast’s audience will grow faster.
Ad spots on podcasts
When considering ad space on a podcast, it’s important to understand your target audience. You may not fully understand why they are listening to a podcast, but you must align your efforts with what your audience expects. Ideally, you’ll be able to personalize your message and reach them through the content they already enjoy. If you’re considering podcast advertising, you’ll want to consider a back catalog, which is a collection of previously recorded episodes.
Pre-roll ads are 15-seconds or less long, and play before the actual content. Mid-roll ads are placed near the middle of the show, usually between 40 and seventy percent of the way through the show. However, some podcast hosts offer end-of-show ads, which play at the end of the show and are thought to produce more results for advertisers. This is another reason why podcast ads are so popular.
If you’re unsure of where to begin your podcast advertising campaign, consider choosing a show with a niche audience that matches your brand. You can use the Facebook Audience Insights tool to find a podcast network that has relevant content. It’s also a good idea to research different types of podcasts to find the ones that will work best for your brand. Once you’ve decided on a topic for your ads, start browsing podcast directory categories to find a podcast with a relevant audience.
Advertising on a podcast is one of the most effective ways to reach people who might not otherwise be interested in your product or service. Because podcasts go wherever people listen to them, advertisers can reach the unreachable by targeting their ads specifically. Podcasts also have a specific time for ad breaks. Because podcasts are a trusted source, advertisers can rest assured that their messages won’t get lost in the shuffle or bombarded with multiple ads.