Finding the Right Podcast Advertisers.
The number of people listening to a podcast is growing at an exponential rate, according to Apple, there were over 550,000 active podcasts with more than 18.5 million shows in early June 2018. That is not all, about 44% of the U.S. population has listened to podcasts with 49% of those podcasts done at home while 22% is in the car. That is quite a number in the audience. Where there is an audience, advertisement surely can be done. It is projected by bridge ratings that podcast Ad spend will hit $500M in the year 2020, growing at a significantly faster rate than initially projected.
How do podcast advertisers such as Draft Kings, SkillShare, HBO, and Audible take advantage of this platform to reach their target audience?
Finding the right shows to advertise on is key to any podcast advertisers, and to get it right the podcasts must carry an appealing content to the advertisers target audience, understand the nature of the target audience, and the ad must be tailored to suit the advertiser conversion aims. All these steps can be daunting no doubt, that is why podcast advertisers often make use podcast advertising companies such as Advertisecast, Midroll, Acast, etc. These companies provide a platform for podcast advertisers to connect with great podcasts that can bring their brand to their consumers. These platforms ensure the advertisers connect with the right podcasts fit for their ad goals. By industry standard, advertisers can run two types of podcasts ad:
- The pre-roll ad.
- The mid-roll ad.
The pre-roll ad is placed just before the host begins the podcast content while the mid-roll ad comes in when the show is around 40-70%. However, some podcasters do provide the option of Outro at the end of the show as a form of a final call to action.
As a podcaster, how can you monetize your podcast and get high paying advertisers?
As said earlier, with platforms such as Advertisecast, it is much easier for podcasters to connect to advertisers and monetize their podcast. However, as a podcaster, you must have an engaging content that can appeal to your audience to secure a high number of listeners and downloads. This is quite important to put your podcast among top performing ones which will secure you more ad money from advertisers. Advertisers will want to be sure their brand can reach the right number of the audience, which can boost their conversion rate. Podcast Advertisers pay per CPM (cost per mile or 1,000 listeners) and the charges vary according to ad duration. Your podcast ad charges will increase depending on how many people are listening to your podcast. Advertisers are charge averagely:
- $19 per CPM for a 30-second ad.
- $25 per CPM for a 60-second ad.
As long as you are able to grow your base of followers, you can earn as much as you can from your podcast taking advantage of the $500 million podcast advertisement market.