Podcasts have become one of the most well-liked mediums on the internet over the last few years. Its growing popularity unveils a lot of truth about digital-age customers’ behavior and the rise of audio as a content marketing approach.
In an age when we are promised jetpacks and flying cars, it turns out that people still crave the companionship of human voices. These voices can provide information, inspiration, entertainment, emotional connection, and enlightenment – all in one.
With its ability to engage the audience on a personal level, podcasts are now one of the best ways to market your business or build a following online. From social media to top-tier music streaming platforms, podcasts have now become one of the best offerings.
The podcast advertising landscape is growing even more rapidly, making it a potent option to expand your marketing mix.
What makes podcast marketing so attractive in engaging more customers? This article will give you the answer you need.
Why Podcasts are Growing in Popularity
There are more than 750,000 active podcasts in 2019 alone, while Google registered at least 2 million podcasts worldwide. In the US, more than 144 million people (12 years old and older) have already listened to a podcast at least once.
This number shows that 20-million more people in the U.S. listened to a podcast in 2019 than they did in 2018. With quick math, almost half of the US population have listened to a podcast.
How did we get here?
The global proliferation of smartphones is what has driven this significant growth over the past few years. Look at this chart:
These essential devices are most popular with the 18-year-old and older demographic, which make up most of the 157% increase in global podcasting listeners from 2014.
In 2019, there are approximately 90 million active US podcast (32%) listeners each month. This number is a 26% increase from the last year. And this year is the most significant jump in monthly podcast listening in at least a decade.
The steady growth in the last five years shows that podcast listenership is not lying stagnant.
Podcast for Your Marketing Tool
With this significant growth, podcasts offer massive opportunities in elevating the attractiveness of your products or services. According to statistics, 54% of podcast listeners say they become convinced about buying products when they become advertised.
Businesses claim that the purchase intent of their customers increased by 14% after using podcasts as a marketing tool.
According to Marketing Charts, podcast advertising revenue in the US is expected to reach approximately $659 million by 2020.
As you can see, the steady growth on US podcast advertising revenue is proof that the medium has massive potential in the years to come.
Now, if you’re still not convinced about including podcasts in your marketing strategy, we’re about to break down the reasons for you:
Hyper-targeting Stemming
As the marketing landscape continues to expand, there are several lessons we can note. One of the most crucial parts of any marketing strategy is defining your target audience. And podcasts can provide it.
The listeners that interested in your podcast listen to you regularly. They follow your business better with each episode. It means that you’re not only gain new customers, but also those who fit– and that’s the cherry on top.
Engage Customers in Emotional Level
Every savvy marketer knows that consumers prefer a brand that can build an emotional connection with them. And the best thing about podcasts is that you can form a strong relationship with your customers on a personal level.
As one of the popular mediums, podcasts allow you to evoke your customers’ emotions through your words– make sure you’ve prepared your voice tone before you start. Evoking emotions using podcasts is a smart way to grab your customers’ attention and remind them that you’re there to cater to them personally.
It’s no wonder why podcasts are a potent tool to engage more customers and make them loyal.
Super Accessible
Since audio content doesn’t require overly intense concentration to focus on it, it’s easier for the listeners to enjoy it – anywhere, anytime. They can still enjoy listening to podcasts while walking around, exercising, shopping, and even driving. Even better, it almost feels like having a chat with a good friend.
Stand Out Among the Crowd
To thrive in the cut-throat competition within the industry of podcasting, you have to make your brand stand out among the crowd. In this case, you know that uniqueness is at the heart of long-term marketing success and a foundation in your brand building.
Podcasts are the best way to differentiate your business, cut through the noise, and outsmart the competition. In this crowded world full of video and image, podcasts can be a potent addition in your marketing mix.
Wrapping Up
Podcasts are flourishing in this digital marketing world. And as a wise marketer, you can’t ignore its potency. It quickly becomes a clear favorite when it comes to brand building and awareness.
As podcast marketing is entirely new in the limelight, it’s worth including it in your marketing strategy to reach out to more customers who are eager to tune in.
About the Author: Andre Oentoro is the founder of Breadnbeyond, an award-winning explainer video company. He helps businesses increase conversion rates, close more sales, and get positive ROI from explainer videos (in that order).
Twitter: @breadnbeyond
Email: andre@breadnbeyond.com