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Even though podcasting is still a relatively new and unknown medium eMarketer forecasts that spending on podcast advertising will grow nearly tenfold in the next five years.
To start things out, let me state that I am a huge fan of podcasts. I definitely spend more time listening to podcasts than I do with any other media. And even though I am a video producer, I spend most of my time listening to audio podcats. Instead of turning on the radio while I am working at my computer, I turn to the podcast directory on iTunes.
There are two things that continue to surprise me about podcasting. The first is how podcasting is still relatively unknown to the general population.
Many people predicted that the rise in iPod sales would create a rise in podcast listeners, but from what I have seen, owning an iPod has very little influence over whether someone listens to podcasts or not. An iPod makes listening to podcasts on the go very convenient, but there are many iPod owners who don’t even know what a podcast is.
The major factors that seen to determine whether someone is a podcast listener or not seem to be their level of computer literacy, how many hours they spend at their computer everyday, and most importantly having the type of tech and media savvy friends who are always recommending what new films to go see, what new music to listen to and what the latest and greatest podcast they are listening to.
The second thing that continues to surprise me about podcasting is that advertisers have been very slow to include podcasts as part of their marketing mix.
Knowing that podcast listeners are generally affluent and tech savvy should make them appealing to marketers. Ad to this the fact that many podcasts have very focused subject matter and loyal listeners makes for a well targeted consumer group thats tunes in week after week.
The one problem that remains, is that even the most popular podcasts have less than 50,000 listeners. There are a couple that have reached over 100,000 weekly downloads, but they are rare. It is much more common to find shows with 10,000 to 15,000 weekly listeners.
From an internet marketer’s point of view, having access to 10,000 to 20,000 highly targeted loyal weekly listeners/ viewers is very appealing.
A couple of my favorite podcasts This Week in Tech (TWIT) and This Week in Media (TWIM) have found some success in teaming up with audible.com as their show sponsor. About halfway through each weeks podcasts, the hosts take a minute or two to discuss audible, and recommend a new audio book. Even though there is full disclosure that it is paid advertising, this Audible ad fits in seamlessly with the show and feels like a regular segment.
In 2008 Audible has renewed their advertising with the TWIT network of podcasts, and they claim, that advertising with TWIT has been their most successful marketing venture to date.
Now that Apple TV and other similar devices are making it easy for consumers to access podcasts in their living room, podcasting might see significant rise in their audience numbers. This would be good news for both podcasters and advertisers.
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