Podcast Marketing – 5 unexplored benefits
The famous French novelist, Milan Kundera, said,
The business has only two functions- podcast marketing, marketing, and innovation.
For any institution, marketing falls in the array of primary business activities. It is an undeniable fact that while sales increase revenue, marketing pulls people towards a brand and inspires buying choices.
Marketing Is Evolving
Businesses are now realizing the influence of marketing more than ever before. Consequently, they are happy to allocate large funds to their marketing pursuits and endeavors. Do you have any idea of the extent to which the global marketing expenses have increased?
As per McKinsey, businesses all across the globe spend around 1 trillion US dollars on marketing. Businesses are doing everything they can to create a buzz around their brands and attract customers. Are you catching up with the pace?
But are all businesses succeeding in their marketing objectives? How can a business outperform others when it comes to marketing? The answer lies in innovation and keeping up with the latest trends in the dynamic world of marketing.
This is where we need to talk about podcast marketing as an emerging trend that a lot of businesses are subscribing to. Podcast marketing is gaining immense popularity among marketers.
Insights Into Podcast Marketing
Certainly, podcasting marketing has some incredible benefits that businesses are relying on. Otherwise, do you still think they would be investing decent amounts of money in podcast marketing?
Before heading to the amazing benefits of podcast marketing, let’s first have a look at some more fascinating insights on the effectiveness of podcasting marketing:
- Businesses that invested in business podcasts experienced a 14% hike in purchase intent
- Half of the listeners in the US pay attention to the ads in podcasts
- 38% of podcast listeners purchase the product included in podcasts
- 90% of the listeners believe podcast ads are reliable
Moving ahead, let us now discover the most important merits of using podcasts as an innovative and creative marketing technique.
Five Major Merits of Podcasts Marketing
1- Podcasts Lead to Higher Engagement
As per the IAB research, 71% of the podcast listeners report a higher level of concentration as compared to social media at 53%.
When your audience is concentrated, the level of engagement in podcasts rises. In fact, the same research also states that the engagement rate in podcasts is 76%.
2- Podcasts Can Engage Listeners Anytime and Anywhere
The best part is, no matter what your target audience is doing, they can always listen to podcasts. Needless to say, people, these days, are busy and always on the move. But podcasts can still intrigue customers no matter what they are doing.
It is interesting to know that as per First Site Guide, 79.8% of people listen to podcasts while traveling. Moreover, 69.3% of listeners do that while doing household work.
3- Podcasts Offer SEO Benefits
Smart marketers know well that podcast marketing can also offer some great SEO benefits. In the usual sense, we associate SEO and keyword optimization with blogs, articles, and images. However, the same holds true in the case of podcast marketing as well.
You can optimize your podcasts with keywords when it comes to titles and descriptions. By doing so, you can increase the online presence of your business and the authority of your website in search engine results.
4- Podcasts Have Great Scope for Collaboration
We often talk about influencer marketing and how useful it can be for any business – big or small. Well, the same impact can be created by podcast marketing.
In podcast marketing, you can collaborate with successful podcasters who already have a grasp on their niche market. In this way, you can target their audience and sell your business to them.
Besides, you can also collaborate with other brands that are targeting the same market segment and do podcasts. Brand partnerships can work out pretty nicely with podcasts.
5- Podcasts are Amazingly Cost and Time Effective
What can be better than a great marketing strategy that doesn’t cost much in terms of resources and time? Needless to say, for any marketing strategy you follow, ROI is the first consideration.
This is where podcast marketing proves itself yet again and offers an amazing alternative to costly marketing tactics. Having said that, it can be a good way for small businesses to reach out to their target customers. As a small business owner, you can achieve huge marketing milestones using podcasts.
To elaborate, podcasts ad campaigns have a mean ROI of $2.42 for every dollar spent as per an industrial study. Also, the conversion rate of podcast marketing is impressive enough. Interestingly, the rate of purchase conversion for podcasts is the most in the parenting industry followed by retailing, travel, and fashion.