You’ve likely heard about the huge benefits that podcast advertising can provide. If you’re new to podcast ad buying or if you’re not seeing the best results from your current ads, implementing the right podcast ad buying strategy can make a big difference. So what is the right podcast ad buying strategy? Where do you start? We’ll answer these questions and more in today’s blog.
Benefits of Buying Ad Space
In case you’re not familiar with the benefits of buying podcast ad space, let’s touch on those first. The benefits of buying podcast ads can be extensive, and you might find that podcasts are your strongest ad channel. This is true for several reasons.
First, podcast audiences are already engaged and captive listeners. When your advertisement pops up, they’re likely going to listen to it. Also, various studies show that customers retain advertisements better when they listen to them rather than see them. Finally, podcasts allow you to target a very specific audience — an audience that perfectly fits your demographic.
Since there are so many podcasts, it’s often easy for you to find one that would attract your target audience.
Strategies for Purchasing Ads
Now that we’re more familiar with the benefits of podcast advertising, let’s talk about podcast ad buying strategy. With the right strategy guiding your advertising efforts, you can see a significant return on investment — or ROI — and high conversion rates from your podcast ads. Let’s take a look at some of these strategies.
Join a Network
If you have the budget and don’t want to spend much time finding podcast ad space, you can try joining a podcast network. A podcast network will have a wide variety of podcasts that they can reach out to for your ad space. They’ll make sure to find the right fit for you without you having to do much legwork. The number of resources a podcast network has at its disposal can certainly help give you an advantage when entering the podcast ad space. That being said, podcast networks can sometimes be costly, so if you don’t have enough budget for a network or you don’t want to spend the money, you can try other strategies.
Find Relevant Podcasts
Arguably the most important aspect of your podcast ad buying strategy is finding the right podcast to advertise on. Podcasts can usually be categorized fairly easily by their subject matter. There are podcasts for sports, fitness, music, video games, books, health and wellness and much more. Figure out which podcasts are most important to your demographic and choose them as one of your advertising partners. Keep in mind that the subject matter of the podcast shouldn’t be the only factor you consider. You also want to look at the number of listeners it attracts and other metrics like this to help you make your decision. If you find the right podcasts to advertise on, you’ll be able to directly reach an audience that is engaged and actually cares about what you’re selling. It’s a highly effective way to reach the right people with your ads.
Remember to experiment too. You can try multiple podcasts if you have the ad spend, and you can use different advertisements to see which ones work best. You can also try different placements, like pre-roll, mid-roll and post-roll, to see which ones convert better for you.
Use a Third Party for Help
If you’re still having trouble with your podcast advertising strategy, there’s always the option of using a third party. Marketing companies that are experienced in podcast marketing can help analyze your needs, look at your ad budget and make decisions that give you the best chance to convert. If you don’t have the time to figure out podcast advertising on your own and you want to see results quickly, then this is a good route to go. Of course, you’ll have the downside of needing to pay the third party, but if you’re seeing good ROI, then the results can be worth it.
Try Backtracks Today!
If you’re looking to improve your podcast advertising strategy, another helpful tool is podcast data and analytics. The Backtracks platform provides advanced data and analytics unlike any other podcast platform in the industry. With Backtracks, you can get data that helps you to refine your ad strategy and reach your audience like never before. Our advertising platform also makes it easy for you to search for podcasts and buy ad space on the right ones for your business.
Sign up with Backtracks today to find out more information and to request your invitation to the Backtracks advertising platform.