Podcasts and Digital Publishers
In the News
Jonathan Carrera, LinkedIn
Podcasts are on fire as publishers continue to launch new series, and brands increase their allocation of marketing dollars toward audio. Here is a list of reasons why digital media companies are finding podcasts so attractive and why you should develop your podcast content strategy.
1) Podcasts are digital (and mobile).
If you’re a small or mid-sized B2C or B2B publisher, podcasts are right up there with video in terms of showing your advertisers that you’re staying current and that you’re not too small to warrant them spending dollars with you. It’s not uncommon for 50% or more of podcast listens to be on a mobile device.
2) Podcasts are invigorating.
Editorial teams find them incredibly fulfilling because they get to create deep, meaningful content with their own voice. It’s rare to not have at least one person, if not more, on an editorial team eager to jump into the medium of audio.
3) Podcasts are a credibility indicator.
A well-produced podcast is proof that your content team has both the confidence to voice their subject matter expertise and the technical skill to channel it through a new digital medium. A good podcast increases your standing with your audience, makes you dangerous to your competitors, and more noteworthy to your clients. In other words, podcasts cause you to be taken more seriously.
4) Podcasts are inexpensive to jump on.
You don’t necessarily need to hire a dedicated audio producer to begin podcast development. Starting out, if you have a video team in place, it may be possible to launch multiple shows without spending a dollar on human resources because video editors often know how to edit and mix audio. All it takes is a reallocation of time and effort.
5) Cumulative listening stats are outstanding.
Let’s say you’re a publisher podcasting 20 minute episodes, and the average number of listens per episode is a steady 2,000. According to eMarketer, citing data from Bridge Ratings, the abandonment rate for podcasts ranging from 15-30 minutes in length is only 15%. That means, over the course of a 50 episode year, your listeners will spend 1,700,000 minutes listening to your content.
6) Audiences can be small yet valuable.
When you google the cost of podcast advertising you might see something like $25 - $40 per thousand listens. That can be misleading for someone unfamiliar with podcast advertising, because if you’re a publisher sophisticated enough to have a client relationship management system, and you have a grip on a difficult to reach and valuable niche audience, then a custom sponsorship package featured around your podcasts can potentially fetch a per podcast CPM rate in the thousands.
7) Podcasts open up a menu of new products for custom marketing to sell.
A 30 second pre-roll isn’t the only thing you can sell. If your client wants a higher tier product, you can sell them on doing a sponsor content podcast on a topic that your audience wants to hear. If your client wants an even higher tier product, and your audio producers have the skill to handle it, you can sell the big fish — a branded podcast series (editorial content made under their brand, but produced by your content studio.)
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All audience and traffic data based on company reports and estimates as of Q1 2016.© 2017 SourceMedia LLC. All rights reserved. SourceMedia is an Observer Capital company. Use, duplication, or sale of this service, or data contained herein, is strictly prohibited.