The Interactive Advertising Bureau (IAB) have just released today - 22nd August 2017 their first Podcast Playbook in an attempt to get more businesses taking advantage of the marketing opportunities that podcasts can offer.
The guide offers information about podcast listener demographics, behaviours, ad formats, treatments, targeting, delivery and measurement. This will allow marketers to successfully use podcasts as another medium to reach consumers.
25% US Consumers
The research which was carried out states that 25% US consumers over the age of 12 listen to podcasts monthly, but on average each person listens to six podcasts per week.
Of the podcast users, 44% of them were under 34, were educated, wealthier than normal and business influencers.
The research also shows that the majority of people listen to podcasts through their smartphones, either on the commute to and from work, or whilst exercising, doing chores at home or traveling.
When it comes to advertising on podcasts, there are a number of options which are available to marketers. These options include pre-recorded and placed ads, and native or host read ads The research shows that theses adverts are very powerful and almost two thirds say that advertising from a podcast inspired a purchase.
The researchers are predicting a substantial rise in the amount of money that will be spent on podcast advertising from $119Million in 2016, to an 85% increase - $220Million in 2017.
Anna Bager, general manager of mobile and video and senior vice president at the IAB, said that this playbook will represent a reference guide that will help marketers in understanding the podcasts as well as to be an efficient tool that will generate more investments in audience reach through this channel.
Podcasts are currently having their stellar moment since the big leaps in the advertising industry are not happening too often. The idea is to bring the very idea of broadcasting on such a valuable medium to all the leading marketers.
Whilst this research was carried out in the US, it is common for trends which are occurring there to be replicated in the UK. So whilst podcast might not be as possible in the UK as in the US right now, it is highly likely that they will rise in popularity over the next year or so. For British marketers to take advantage of these developments, it is time to start thinking about how you can use podcasts right now.