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Why You Should Consider Podcast Advertising
As the marketing world grows ever more advanced and competitive, you need to look into a variety of creative avenues to appeal to new customers. Podcasts have resurged in popularity lately, and businesses looking to gain a marketing edge are able to take advantage of this through podcast advertising. But what is podcast advertising and how does it work?
What is Podcast Advertising?
Podcast advertising is straightforward on the surface. As a business, you’ll contact a podcast and offer them compensation for advertising on their platform. Typically, there are two different models: CPA and CPM.
CPM, or cost per mille, is probably the most common podcast advertising model. In this model, the podcast gets paid per every thousand downloads or streams. That means if a podcast containing your ad gets streamed or downloaded one thousand times, you’ll pay the podcast a set rate for that advertising space.
CPA, or cost per acquisition, is more similar to affiliate marketing. The podcast will run your ad and every time one of their listeners ...
... buys your product or service, you give a portion of the purchase to the podcast.
Types of Advertising
Once you decide which podcast advertising model you want to utilize, you’ll need to decide what type of ad you want to run. The most common is a plug from the host, where they’re given a brief script to read about your product. At some point in this podcast they’ll mention your company and read this script to plug the product.
The other most common option is a pre-recorded ad. This is similar to a commercial on a radio station and can be played at the beginning, at a set time during, or at the end of a podcast.
Choose Your Podcast
Keep in mind the audience of the podcast should be similar to your customer base. Brand congruence is going to ensure you get the most leads. For instance, if you’re a headphone company, advertising on a music podcast would likely get you a lot more leads than a history podcast. In the end, it’s your call and you know your product best, so choose a podcast that feels right!
Podcast advertising can lead to great ROI and it’s one of the best new ways to advertise today. By following these tips you can utilize this awesome marketing technique too.
I'm Barry Elvis, podcast marketing consultant, providing info about monetizing a podcast, analytics, promotion ideas and advertising for SME's. You can find his thoughts at podcast analytics blog.
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