By Kalyna Rondiak
Since 2019, the number of podcast listeners worldwide has rapidly increased by over 50 percent, starting at just under 275 million and reaching nearly 425 million users in 2022. The rise of podcasts gives us valuable insight into how people are consuming information that can be utilised in a professional context. In the ever-changing world of digital marketing and PR, new sources of media and information pop up every day. Consequently, knowing not only which content trends to get behind, but how best to take advantage of the most recent developments is key to remaining competitive in the industry.
As of 2020, 18 percent of UK adults listen to podcasts weekly and in the U.S. this percentage jumps to 26 percent. These numbers continue to grow at substantial speeds, and they are expected to keep climbing as listening on-demand becomes even more widespread.
While the rate at which podcasts grew in popularity from a niche audio content community to a mainstream content genre has been quite dramatic, upon further analysis, it is not all that surprising. There are many factors that have contributed to the advancement of podcasts, but the main reason they could expand so extensively in such a short period of time is because they are inherently convenient. Podcasts are the perfect medium for our fast-paced, multitasking modern world. 73 percent of podcast listeners listen on their mobile phones and the vast majority of listeners are completing other tasks such as driving or housework while they listen.
Develop Your Brand Personality
In today’s overly saturated world of content, differentiating your company is vital to the success of your business. Podcasts are a great way to bring your company to life by sharing a unique voice and an interesting perspective on an industry-relevant topic. Supplying your listeners with high-quality content in the form of a podcast is a great way to further develop your brand’s image while building up your brand affinity as well.
Listening to someone speak is a radically different experience than reading text off a screen or seeing an image. It activates a different sense, one that recognises and appreciates emotion in a distinct way. Audio is inherently more personal than written text and it has the potential to form a stronger bond between a speaker and a listener as well. When people physically hear a voice representing a brand, they are far more likely to feel engaged with the content and, in turn, feel loyal to the company responsible for it.
Of course, creating a podcast is not the only component of building a strong brand personality, you will also want to be publishing other forms of media, graphics, text, etc. Luckily, a podcast can be easily woven into pre-existing content mediums to develop a strong, coherent content strategy for your company. Podcasts can inspire blogs and written content as well as photos, videos, and other visual content or vice versa. For example, you can include a visual component to your podcast by recording a video version and uploading that on a video sharing service. In that case, you will have two different pieces of content on two different platforms from just one recording session. Podcasts allow you to diversify your content and increase engagement across all platforms.
Become an Industry Authority
Positioning your spokespeople as an industry thought leaders should be the goal for your business, especially if you are in the B2B sector. At the moment, podcasting is not only a nice addition to a thought leadership content strategy, but it may be the most efficient way to reach your company’s desired level of industry influence.
According to Edison Research, 74 percent of regular podcast listeners consume podcasts with the intent to learn something new. This speaks to the scale of listeners who are interested in informative content. Providing valuable insights via podcast will engage your target audience and position your company as an authority in your industry.
Utilise Podcast Advertising
Along with forming relationships and establishing your company as a thought leader, podcasts provide a powerful platform for advertising. In fact, over 80 percent of listeners say they pay attention to podcast ads more than they do to radio ads, TV commercials, billboards, and even digital ads on social media. Along with being one of the top mediums for audience engagement with content, podcasts are also a key player in regard to engaging with advertisements.
If none of the other benefits of podcasting are intriguing enough for you, the impressive efficacy of podcast advertising should be. Not only do listeners pay more attention to advertisements featured on podcasts, but the majority of them consider buying or actually buy the products being advertised. According to an Edison Research report, 54 percent of listeners are either ‘somewhat’ or ‘much more’ likely to purchase a product after hearing it advertised on a podcast. The more loyal listeners feel to a specific podcast or podcast host, the more likely they are to spend their money on advertised products. In addition, advertising for a product that is closely related to your industry and the subject of your podcast will increase the chances of people buying. If you are positioned as an expert on a topic in the listener’s brain, due to your frequent and quality podcasting, the advertisement will be heard through a positive, more trustworthy lens.
What’s in Store for Podcasts?
As on-demand audio only increases in popularity, podcasts are expected to continue to reach all-time highs. In the U.S., the number of podcast listeners is forecasted to grow above 160 million by next year.
Podcasting is an influential tool that can generously boost your company’s reach, engagement, and advertising efficiency. Incorporating this content medium in your marketing and PR strategy will likely advance your business in various aspects and give your company a competitive edge.
Now that you know about the considerable benefits of podcasting, be sure to take advantage of it and integrate it into your digital marketing and PR strategy.
For more tips and industry-specific news visit our blog page or follow us on Twitter and LinkedIn.