Podcast Sponsorship is Driving Purchase Intent
The recent evolution of podcasting content, wherein various creators are discussing global scenarios, is bringing about numerous opportunities for market growth for brands. The subscriber base of podcasts pertaining to racism, patriarchy, and political disputes, among others, is significantly growing, thereby encouraging companies and creators to come up with more content that taps diverse audiences, […]
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The recent evolution of podcasting content, wherein various creators are discussing global scenarios, is bringing about numerous opportunities for market growth for brands.
The subscriber base of podcasts pertaining to racism, patriarchy, and political disputes, among others, is significantly growing, thereby encouraging companies and creators to come up with more content that taps diverse audiences, according to an NPR report.
According to ResearchAndMarkets, the global podcasting market size is estimated to reach $94.88 billion by 2028, expanding at an estimated CAGR of 31 per cent from 2021 to 2028.
The increasing popularity of audio-on-demand platforms is the primary factor driving the market growth. Other factors contributing to the market growth include minimal entry barriers for creators and easy accessibility for users, as they can listen to podcasts while performing other tasks.
Consider “when” not just “how” when promoting
Identifying the best ways to promote and grow podcast audiences has long been a topic of conversation among professionals in the industry. How do publishers help audiences discover shows that they’d enjoy? According to the NPR Podcast report, podcasters have employed numerous tactics over the years, from posting audiograms on social media to running cross-promotions in other podcasts to generate awareness. Marketing budgets haven’t recovered entirely yet so it’s important to make sure your spends are hitting the right target audience.
Align your promotions with audience interest. How do you find out the best time to promote your podcast? This will differ for each show but the idea for each one is the same: identify moments when audiences are actively seeking out content that your show produces.
Deliver Critical Ad KPIs For Brands
According to a Nielsen Company report Podcasting Today, as podcasts become a bigger part of our media culture, they’re attracting broader audiences — across all age segments. This is exactly why brands and agencies need to be tracking engagement with them and leveraging the opportunities in their marketing strategies and campaigns.
Podcast advertising — particularly when read by the host — drives a stronger brand recall punch than more traditional forms of advertisements. Nielsen’s Podcast Ad Effectiveness (PAE) solutions have found that hostread ads drive a brand recall rate of 71 per cent, which subsequently creates high levels of consumer interest, purchase intent and recommendation intent. What’s more, longer ads (60 seconds plus) drive even higher lifts among consumers. When it comes to seeking more information about a brand, longer ads are nearly 70 per cent more effective in this category than shorter ones. The lift scores for purchase intent and recommendation intent are both 40 per cent higher for longer ads than shorter ones. Lastly, not only do longer ads generate stronger engagement, they also drive brand recall: nearly three-quarters of listeners were able to recall the brand after hearing a longer ad.
Language preferences and listening habits
Regional trends are looking positive, too. Podcast advertising in the UAE and Saudi Arabia is booming. Popularity and trust in the medium are at an all-time high driving brands to start investing. But as a relatively new medium, a common distribution mistake keeps recurring. Understanding the unique Middle East podcast landscape will stop stunting the success of audio campaigns and start to realise the full potential.
According to a Rising Giants Network report, podcast listeners surveyed overwhelmingly say that the main language of their favourite podcast is Arabic. For context, a fifth say the main language of their favourite podcast is English.
Female podcast listeners are more likely than their male counterparts to say the main language of their favourite podcast is in Arabic (85 per cent versus 70 per cent), albeit both genders are more likely to say Arabic than English.
Apple remains as the biggest podcasting platform with over 80 per cent of podcast listeners getting their podcasts from the platform, Anghami is up-and-coming in KSA and changing perceptions. This could be due to Anghami’s investment in exclusive shows, namely the show they did with Arab pop sensation Elissa.
These come over platforms such as Google Podcasts, Castbox, Deezer, Podeo and Audioboom. Furthermore, most podcast listeners engage with audio podcasts, over video who use video or both audio and video (35 per cent).
Is your marketing goal to reach an audience with high spending power? The spending power of Saudi and UAE podcast listeners is higher than non-listeners, making it a solid strategy for brands wanting to reach audiences with high disposable incomes.
Podcast ads are heard and trusted
Is your marketing goal to increase loyalty and trust? Listeners tune into shows that reflect their interests, beliefs, and passions, which leads to high trust in the podcast host/show. This trust extends to the ads played alongside the show, making it a solid strategy to improve brand trust.
According to statistics, 2020 was the industry’s most successful year. In the Middle Eas more local content is being produced, access is improving, and lifestyles are changing, causing local listenership to surge.
Marketettiers & 4DC MENA 2019 podcast report found that in KSA, 15 per cent of the population tune into podcasts at least once a week. In the UAE 16 per cent listen regularly. Given the global upward trajectory of this sector, it’s fair to conclude listener numbers have grown since then.
Of the regular UAE listeners, the Markettier report goes on to state 91 per cent have a high trust factor in podcasts. In KSA the trust factor is greater, at 93 per cent.
This means brands can deploy podcast ads as a tool to significantly boost brand loyalty and trust among a large listenership
Takeaway
Podcasting is still relatively new. In Saudi Arabia and the UAE trust and popularity in the media are accelerating, and the time to invest is now. Podcasting provides one of the most intimate and dynamic ways brands can talk to their audience – when done in the right way. Platforms are also making it easier for new entrants to jump into the bandwagon.
Streaming platform Spotify said last month that it would add podcast ad buying to self-serve ad channel Spotify Ad Studio in the coming weeks. Brands can create and manage campaigns via Spotify Ad Studio, or can scale their campaign with audience-based buying through the audio advertising marketplace.
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