How to Start Podcast Advertising and Earn Revenue
Research tells us that 28% of Americans listen to podcasts every week but not every business is using this medium to advertise their company. If you’re not already using this advertising tool then you should be.
Why?Â
Because podcast advertising is fast becoming the most effective way to get your business noticed. Not only will the podcast revenue help you run your show but it’s a simple method of boosting engagement rates…
There are many wonderful benefits to this form of digital marketing so here’s everything you need to know to get the most out of podcast advertising in 2022!
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The Basics of Podcast AdvertisingÂ
The rise of podcasts hit the world by a storm and people are starting to take note of their impact in the business world. The platform is not just about providing good content but it offers the chance to earn money as well.
Podcast advertising is about making short but impactful clips that grab the attention of your listener and sell a product or service. Normally, these advertisements are placed at the beginning, middle, or end of an episode.
Now, you might be thinking, what’s the point of advertising on a podcast when you can post online or use other marketing tools? Well, 54% of the podcast listening community prefer to buy from businesses promoting on this platform.Â
However, before you can benefit from podcast engagement you need to make a successful podcast that will stand out from the crowd. This means you need to think carefully about your marketing plan.
How to Advertise With Podcasts
Running an effective advertisement campaign on podcasts is about following a few basic rules. Firstly, you want to consider the demographic of your audience.Â
This is an important part of any marketing strategy but it’s especially important for podcast advertisements. This medium is focused on specific groups of people.Â
Unlike other platforms like TV shows which try to attract a diverse audience podcasts are based on niche audiences with niche interests. That’s part of their magic.Â
Therefore, you need to match your advertisements to your demographic otherwise they won’t buy products or use a service.Â
Consider the Cost
To avoid being over-charged for advertisements then you should be aware of the basic pricing for this service. Once you find an advertisement host that you like be sure to double-check other options.
That way, you can compare the prices and make sure you’ve found the best choice. Ideally, you can spread the cost over several podcasts if you don’t want to risk all your money in one place.Â
A 30-second podcast advertisement costs $18 on average. Whereas a 60-second advertisement costs $25. So, you want to do some calculations in advance so you can cover the costs.
Creative Tips for Podcast Advertising
When it comes to making the most of your podcast and earning some profit via advertisements then you need to think outside the box.
Even though the traditional method of intermittent announcements during an episode is a time-tested way to make money, there are several other ways to boost sales and direct traffic to your site.
1. Promote With Others
Sometimes the easiest way to get more attention to your podcast is by working with people in the community. You can invite guests into your show or make an appearance on other podcasts.
This is also a great way to get big advertisement hosts interested in your business and get them to reach out to you. This will save you the time spent contacting companies so you can focus on improving your company.
2. Find Your Voice
The defining feature of podcasts is they are meant to be listened to. There are hundreds of other platforms that run videos and showcase images but podcasts are purely audio.
Therefore, you need to make sure the voice actor is perfect. You don’t only want the copy to be convincing but the tone of voice will make your message more believable.
Plus, a consistent voice for podcast advertisements will build trust and encourage listeners to find out more. You don’t even have to hire a voice actor you can do it yourself!
This means you can save money on this part but it could make all the difference to your marketing plan.
3. Promote on Podcast Blog
Another trend amongst the podcast community is writing blog posts that summarize episodes. This provides a place where listeners can resort back to when they want to refresh their memory about a specific point.
Video is also a fantastic way to promote your podcast advertisement and include visuals. You can try both blog writing and video publishing for optimal results!
49% of podcast listening happens at home while 22% happens in the car; making it a unique form of advertising!
Important Podcast Terminology
Understanding podcasts advertising means you might come across certain terms when talking to businesses or researching online. Here are some of the common terms to look out for:Â
- Baked-in
- CPA rateÂ
- CPM rate
- Direct responseÂ
- DynamicÂ
- Native adsÂ
- Offer codeÂ
- PodcatcherÂ
- Spot density
Once you’ve decided to advertise on podcasts you’ll be happy you already know these terms so you can get straight to the planning stage.Â
Speaking of planning your podcast, Purple Comma Podcasting offers high-quality equipment and professional studios where you can record all of your episodes.Â
You can even book a consultation if you have any further questions about podcast advertising. It’s as easy as that!Â
Get People Listening With Podcast AdvertisementsÂ
It can be hard standing out from the crowd of advertising when there are new businesses releasing podcasts every day. However, the key to success with podcast advertising is planning.
Making a concrete plan with a killer strategy is essential when you want to use this platform for promoting your business and earning money via other AD hosts.Â
If you need a little more help then Purple Comma Podcasting is there for you. To get you started you can book a consultation and make a studio appointment.Â
The rest will take care of itself over time. Take five minutes and call today!Â