Podcast Advertising: A Promising Avenue for Result-oriented B2B Ad Campaigns

Apurva Pathak | May 19, 2022 | 103 views

Podcast Advertising
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?
Engagement.

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:
  • Demand Generation
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.
  • Ad Effectiveness
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.


FAQ

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.

Spotlight

Transmission

We are a data-driven B2B marketing agency that believes in customer obsession. We put your customers at the centre of everything. Ensuring every message is compelling, personally relevant, and receivable at exactly the right time. Constantly listening and analysing. Continually testing and enhancing. Because life should be a series of amazing experiences, not simply a destination. Experiences planned with insight, intelligence, and heart.

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Transmission

We are a data-driven B2B marketing agency that believes in customer obsession. We put your customers at the centre of everything. Ensuring every message is compelling, personally relevant, and receivable at exactly the right time. Constantly listening and analysing. Continually testing and enhancing. Because life should be a series of amazing experiences, not simply a destination. Experiences planned with insight, intelligence, and heart.

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Continuously updated with cross-portfolio data and insights from ongoing incrementality testing, marketers can use comparison data to answers questions like: Do I allocate more or less of my budget than my peers to certain channels or tactics? Are my conversion rates similar to other brands? Am I paying more than other brands for the same media? Is my media driving more incremental sales than other brands in my category? What other channels and tactics are working for my peer group that I should consider adding to my mix? Incrementality measurement for media attribution gains momentum As outdated models like multi-touch attribution break down due to increasing restrictions on how companies collect data and track users, incrementality-based attribution is on the rise as a reliable - and privacy compliant - method for measuring ad performance. 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Adtech and Search Executive Bill Michels Joins Moloco as GM of Retail Media

Moloco | October 03, 2022

Moloco, a machine learning company, today announced that advertising and search product executive Bill Michels has been appointed General Manager of Moloco’s Retail Media business unit. Prior to joining Moloco, Bill Michels was the Executive Vice President of Product at The Trade Desk. Michels brings more than two decades of successful leadership across product management, engineering, data strategy, and business development for some of the definitive companies in advertising and search. He was previously Chief Data Officer at Foursquare after spending 10 years at Factual, most notably as Chief Operating Officer responsible for product, engineering, and data partnerships before its merger with Foursquare. While at Yahoo!, as Senior Director of Product Management, Michels worked in Search, where he launched and led Yahoo! BOSS and several initiatives for international search monetization. In this newly created role, he will oversee product and business development for Moloco’s continued innovation in the retail media category. Notably, Michels’ search experience will be invaluable to further capitalize on Moloco’s use of first-party intent signals from shopper’s search, browse, and purchase history to show relevant, highly performant ads right at the point of purchase. “Bill Michels has been at the forefront of adtech as a product and business leader. His track record of bringing breakthrough technologies to scale speaks for itself. Bill’s vision has helped define the products and businesses that make up the sponsored search and demand-side advertising ecosystems today,” said Ikkjin Ahn, CEO and Co-founder, Moloco. “Bill Michels has been at the forefront of adtech as a product and business leader. His track record of bringing breakthrough technologies to scale speaks for itself. Bill’s vision has helped define the products and businesses that make up the sponsored search and demand-side advertising ecosystems today,” said Ikkjin Ahn, CEO and Co-founder, Moloco. “Our team is looking forward to his leadership and collaboration as we make progress toward our goal of creating a more equitable and profitable digital economy for companies of all sizes.” Retail media is estimated to reach $100 billion1 over the next five years and is one of the fastest-growing segments of the digital marketing industry. While large online retailers such as Amazon have demonstrated that retail media drives profitability, sales acceleration, merchant revenue, and customer satisfaction, most companies don’t have the resources, time, or expertise to develop an in-house performant sponsored search solution that scales. Moloco’s Retail Media Platform uses advanced machine learning to securely unlock the value of an e-commerce marketplace’s own first-party user data and automate highly relevant sponsored ads throughout the buyer journey. With Moloco, marketplaces enhance, rather than disrupt, the shopping experience and drive demand for their merchants when and where it matters most. “Building upon the world-class machine learning infrastructure that Moloco has created for its Moloco Cloud DSP product, we are able to provide marketplaces and their merchants with a powerful platform to grow their business, while providing consumers with highly personalized experiences,” said Bill Michels, GM Retail Media Platform, Moloco. “It’s an exciting opportunity to build a product that leverages rich first-party signals to optimize for the multiple constituents in Retail Media - retailers or marketplaces, merchants, and consumers. Moloco’s Retail Media Platform touches on several components throughout my career and I am looking forward to leveraging them to build something special with the amazing team here.” Michels holds an MBA from Columbia Business School where he was a Beta Gamma Sigma Scholar. He earned his BA from Colby College. Michels lives in Southern California and will work closely with Moloco’s Retail Media business and product teams around the globe. About Moloco Moloco’s goal is to make the digital economy more equitable and profitable by delivering advanced machine learning to companies of all sizes. With Moloco’s machine learning platform for growth and performance, every app publisher and online retailer can now unlock the value of their unique, first-party data. Moloco Cloud DSP enables performance marketers to scale user acquisition quickly and achieve greater lifetime value through battle-tested prediction models. Moloco Retail Media Platform enables online retailers and marketplaces to establish their own performance ad business. Moloco was founded in 2013 by a team of former Google machine learning engineers. Headquartered in Redwood City, Calif., Moloco has nine offices across the US, UK, Korea, China, Japan, and Singapore. For more information, visit www.moloco.com.

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