Article | October 20, 2022
Marketers in the B2B domain have a multi-channel approach to marketing because they target companies as buying groups. B2B marketers are leveraging podcast advertising with the help of advertisers, creators, and publishers for brand building and generating leads. They leverage up-and-coming avenues of advertising, most of which are a part of digital media channels. One such avenue is podcast advertising.
Podcast advertising is emerging as one of the fastest-growing digital media channels for advertising. It is estimated to grow to more than $2.13 billion in 2022, according to a study by the Interactive Advertising Bureau and PwC.
But, what is driving this growth?
People are finding podcasts more engaging than ever. Consequently, the demand for podcast ads across all categories is growing.
Dynamic Ad Insertion (DAI): The Rise of Automated Ad Tech
Dynamic ad insertion is a form of programmatic advertising that uses first or third-party data. This data comes from the device playing a podcast, a device user agent, the device’s IP address, and what episode is requested, to serve ads to a target demographic. The ad server of the podcast hosting platform decides which ads should be stitched into a particular podcast episode. If done well, the audience will never know the difference between a dynamically inserted ad and a baked-in ad, which is a permanent part of the audio of the podcast.
Podcast hosting platforms, advertisers, and publishers adopted DAI because it helps brands win contextual relevance and efficiency through granular advertising opportunities. Through custom audio ads that appeal to the target audience, dynamic or seasonal geo-targeted ads, measurable variables, and performance data, DAI gives advertisers good control over podcast ad campaigns. This control allows them to tailor the campaigns based on the marketers’ demands.
DAI is evolving and has great potential in transcription-based targeting using AI and machine learning. It also has greater creative interactivity to make audio ads engaging through voice interactivity, personalization, and mobile phone engagement.
A podcast advertising example using DAI would be a brand creating multiple versions of pre-recorded audio ads that are served to target audiences on any podcast that meets the campaign criteria.
Podcast Advertising Anchors Digital Marketers for Effective Outreach
Edison Research’s Podcast Consumer 2017 report found that:
24% of people between the ages of 18 and 54 listen to podcasts monthly
Listeners are almost evenly split between men and women
Listeners tend to be affluent, mainly educated consumers
In the 25-54 age bracket, monthly listening has grown year over year for the past four years
These stats demonstrate the growing market for podcast advertising and a very stable demographic that B2B marketers would want to target. Marketers rely more on podcast advertisers and platforms to tap into the potential of podcasts as a media channel.
Here are some of the ways in which podcast advertising can enhance B2B marketing plans and bring in more conversions:
Listener behavior expansion− By understanding what kinds of podcasts the target audience listens to, marketers can create ads that appeal to them, and advertisers can help them get the perfect spot for the ad campaign to make it more successful.
Pivoting messaging is easier− Using different voiceovers, marketers can deliver the same message but elicit a different reaction from their target audience. Recycling old ad files is also a viable option to save time and resources.
Human connection− Hyper-personalized targeted ads relevant to the podcast content create a human connection with the audience and can influence their opinion about a brand.
Personal influence− Podcast hosts create a personal influence on the listeners so they keep tuning in to the podcast and even listen to the episodes again after a period. Ads on such podcasts receive stronger engagement and response. Additionally, hosts can also relay brand messages to listeners and influence their buying decisions.
Regional marketing− Podcasts are a great way to connect with a target demographic residing in a certain geographical area. Geo-targeting is a boon for region-specific marketing endeavors.
Effective storytelling− Podcasts can fuse autonomous sensory meridian response (ASMR) for immersive storytelling to impress listeners. The continuity and power of an engaging narration keeps the listeners subscribed and attached, ensuring that any kind of advertising on such podcasts can reach a wider audience.
Advertisers Are Helping B2B Marketers Generate Revenue
According to a forecast by IAB (Interactive Advertising Bureau), podcast advertising revenue will exceed $4 billion by 2024. Marketers are dependent on advertisers to tap into the podcast advertising potential to generate revenue in the following ways:
An estimated 62 million Americans (Source: Edison Research) listen to podcasts, and this number is expected to grow. An interview by a product expert on an industry-relevant podcast can help get leads without wasting any budget on creating awareness, making it cost-effective. It’s no wonder LinkedIn and HubSpot have started their own podcast networks to host business and career-related content.
Brand Building & Customer Retention
Apart from using podcasts to generate leads, it can also help with brand building. Sponsoring a popular and relevant podcast episode can create a brand’s reputation and trust. It can also help retain existing customers as sponsorships demonstrate a continuous commitment to industry growth and development.
75% of podcast listeners were happy with the purchase they had made from podcast ads (A Study by Voices, the #1 voice marketplace). This goes to show that podcast advertising brings out expected results and conversions without compromising the customer experience or opinion.
Podcast as a Medium for Thought Leadership
Podcasts are a great medium for B2B thought leadership. They are a free space to express expert industry opinion, talk about the current industry trends, address the pain points of the customers, discuss tech advancements, and create a personal connection with the listeners. Tailored thought leadership content can fuel brand engagement and bring in leads that convert because of brand trust. Feedback gathered through interactive content can help B2B marketers create personalized marketing plans to align their goals with ad campaigns better.
Podcast Ads: Taking the First Step
Before you step into the world of podcast advertising, make sure you consider aspects like target demographic, podcast ad pricing, industry/brand relevant podcasts, ad purchasing, the reputation of the podcast advertising network, and podcast advertising platforms. Policygenius, a New York-based insurance agency, invested early in podcast advertising through Ad Results Media, an ad agency. Policygenius achieved its ROI goals, and its media spending increased by 10x in two years.
You can buy podcast ads directly, through a podcast advertising network, or programmatically. To track the success of your ads, use KPIs like unique listeners, ranking and reviews, subscribers, social sharing, and episode-by-episode metrics.
Wrapping It Up
Podcasts can be a great advertising avenue for B2B companies to influence their buying groups and create new customers. Its monumental growth as a media channel and its ad revenue over the past couple of years indicate that it is here to stay and should be harnessed for a wider reach and bigger sales numbers.
What is the role of podcast advertising networks?
A podcast advertising network is a full-service podcast advertising solution that maintains podcast ad inventory and manages ad campaigns for marketers.
How is podcast advertising different from traditional advertising methods?
Podcast advertising uses automated ad tech to create dynamic ad campaigns across relevant podcasts, while traditional advertising methods focus on print ads, outdoor billboards, and cable television.
Which are some popular podcast advertising platforms?
Some popular podcast advertising platforms are Midroll, AdvertiseCast, PodGrid, and Archer Avenue.
Social Media Advertising
Article | July 14, 2022
Artificial intelligence in advertising is disrupting marketing. It is a new way to reach customers that is more personalized, engaging, and targeted than traditional ads. AI-based marketing can improve customer experience, sales and marketing, and lead generation strategies. As a result, B2B companies are adapting AI ads to target key accounts. Let us understand what ideal AI ad campaigns look like:
AI Ad Campaigns: Things to Consider
The most important factors that impact the success of an AI ad are its message, tone, and length.
Message: The message needs to be clear and concise so your target audience can immediately grasp what you are saying.
Tone: The tone needs to be friendly and conversational, and it should get a response so that your brand is approachable and not invasive.
Length: The ad should be between 50-150 words. The length should depend on the message you are trying to convey.
Optimizing Your AI Ad Campaign
Here are some tips to optimize your AI ad campaign:
Identify and understand the goals of your campaign. Select relevant and appropriate channels to influence your target segments effectively.
Use conversion rates, click-through rates, and other metrics to decide where to allocate your ad budget and how best to enhance the content for different target segments.
Design your campaign while keeping in mind consumer interaction and your campaign objectives. Regularly map the outcomes and make adjustments to address any issues.
Consider using an AI ad creator, a type of digital software that creates ads without human input. It automatically modifies text and images to create targeted ads.
Impact on the Future of Advertising
Through automation and optimization, AI will impact the future of advertising and marketing. It will help marketers get insights, develop strategies and create targeted content and companies to increase customer engagement, customer experience and ad efficiency.
Article | August 2, 2022
Marketers and agencies must investigate the relevant counterfactual to advertising exposure to assess advertising effectiveness. Ghost ads can compare exposed and non-exposed consumers to measure ad-related behavior changes.
What are Ghost Ads?
Ghost ads are a great way to measure ad effectiveness or incrementality (the lift or increase in desired outcome through marketing) because they allow brands to see how their ad is received by two distinct consumer groups: those targeted and those who would have seen it organically.
Leveraging Ghost Ads for Causal Ad Measurement:
Here is why leveraging ghost ads to measure ad-related behavioral changes is a great idea:
You don’t need to invest additional funds to create a control group
You can have extensive reach within the DSP (demand-side platform)
You can measure behavior for all formats such as mobile, audio and CTV
Ghost Bidding: Mapping Consumer Behavior:
In ghost bidding, a DSP platform accepts auctions for ad placements on publisher websites/apps/connected devices and bids on them. It records whether the auction was won (and the ad displayed). Before bidding, the platform assigns the user ID to a control or exposed group. For control group users, the bid is withdrawn so that no ad was shown during the study.
This creates two identical groups, one that saw the ad and one that didn’t. You can then compare the test and control groups' website purchases, landing page visits, etc. Over a period of time, it is possible to record large effect sizes across several behaviors.
A Large U.S-based Apparel Company Measured Their Ad Incrementality Using Ghost Ads:
Using ghost ads and ghost bidding, a U.S based apparel company measured its ad incrementality. Over 21 million unique individuals saw the company’s ads over a 15 month period, for an average of around 35.4 ads per individual. The exposed group had a 1.42% greater chance of visiting the site, for a topline lift of 54.9%, compared to the ghost ad viewers. With this information, the company was able to optimize its advertising campaigns on the flu to have a bigger impact on its audience.
Cost-per-click, cost-per-site-visit, and other metrics used by marketers don't show any change in advertising behavior. Ghost Ads are the most cost-effective way to analyze digital marketing campaigns' causality.
Article | December 15, 2021
PALM SPRINGS, Calif.—Let’s clear up some likely misconceptions about what happens at a cannabis convention: No, they do not shoot weed out of T-shirt canons. And they don’t give it away for free—that’s illegal, even in the most permissive states.