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Media And Entertainment Business Review | Friday, March 17, 2023
In an era of constant information, audio presents some unique benefits: It’s fraud-free, it doesn’t compete with multiple tracks at once and it’s typically sandwiched in between content we all love. Podcasts, for example, attract incredibly niche audiences. These audiences may be small in number, but listener attention is great, and there is a strong possibility of eliciting a behavioral response.
Fremont, CA: In an era of constant information, audio presents some unique benefits: It’s fraud-free, it doesn’t compete with multiple tracks at once and it’s typically sandwiched in between content we all love. Traditional radio currently still outpaces digital audio in the audience, reaching about 217 million to digital audio’s 169 million last year.
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Not surprisingly, digital audio spending is on the rise, projected to reach nearly $8 billion by 2025, which will account for more than 40 percent of all audio ad buys. While investing in audio makes sense for marketers, less clear is whether to funnel that investment into traditional radio or podcasts. The truth is, podcasts and radio do completely different things at different ends of the funnel. Podcasts, for example, attract incredibly niche audiences. These audiences may be small in number, but listener attention is great, and there is a strong possibility of eliciting a behavioral response.
Consider timing and flexibility
As already mentioned, podcasts frequently attract specialized audiences, yet these audiences are also fiercely loyal supporters. The new listeners they bring in are then enticed to browse through the content archives, possibly exposing them to a lot of brand advertising in a short period of time.
There is also the possibility of greater targeting with these extremely specific audiences. Platforms, for instance, provide targeting based on listener profiles—not just for the primary show you're purchasing for, but also for additional shows that reveal their demographics and interests.
Consider how your message plays live
Speaking of timing, podcasts lack the live element that radio offers. Radio has a long history of live-reading advertising. Advertisers may swiftly design highly contextual ad copy that reaches audiences with memorable material that fosters stickiness and awareness that aren't present in more conventional advertisements.
Even podcasts now have a live element because of the growth of dynamic audio material. AI-enabled dialogue-based audio adverts can make listening more engaging. The back-and-forth of a dialogue ad can generate a lot of stickiness where there wasn't before when combined with strong conceptuality.
Consider who is delivering your message
It's not only about the information being conveyed; it's also about the person bringing that message to your target audience, and both radio and podcasting give the chance to capitalize on personalities.
The host is the main factor in the success of live-read radio advertisements. Since they form a bond with the voices that accompany them on their commutes, radio listeners are devoted and will consistently tune in to the same morning show year after year. Moreover, live reading encourages improved reaction and remembering rates. The same holds true for podcast advertising that is narrated by the host. Through the content they create, podcast broadcasters create the same connection with their fan communities. In addition, they can add color to their ads by mentioning how they use the product themselves.
Conclusion
The decision to invest in traditional radio or podcasts is not binary, with the rare exception of extremely niche brands. When a brand targets consumers with an endorsement from their preferred podcast host, it may be very effective in raising brand recognition and generating initial interest in the product.
The key to a successful digital audio strategy understands the audience you need to reach and utilizing a variety of channels and delivery types. A dynamic, interesting format for addressing your audience is provided by digital audio.
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