A few months ago, we wrote about how analog is making a comeback. Perhaps it’s this rejuvenated appreciation for simpler times that is also fuelling the audio revolution. Influencers, brands and media are capitalizing on an auditory renaissance as podcasts creep slowly from niche to mainstream. When I was a little girl travelling the world with my family, nothing was more comforting than listening to talk radio or music on CBC AM Radio or hearing the iconic chimes of BBC’s World News broadcast. It felt – though thousands of miles away – I was connecting with humanity from my remote location. It wasn’t just me, though. For generations, families and colleagues crowded around radios to listen live as events shaped our world. We experienced the sound of wars, presidential elections, assassinations, rising music stars and even groundbreaking fiction, such as War of the Worlds. But, gradually, the radio star died and video reigned, as televisions turned from black and white to colour; from high def to 4K and so on. Now, the once-forgotten art form of audio storytelling is storming back onto the scene – and brands are taking notice. Podcasts have become a lucrative medium for both advertising and brand experience. In 2017, Edison’s annual research report indicated that 24% of Americans had listened to at least one podcast in the last month. With several viral podcasts bursting onto the scene in 2018, this number is expected to leap exponentially for 2018. Public awareness about podcasts has nearly doubled over the last decade and the number of users who’ve listened to a podcast has nearly tripled. Today’s podcast listeners skew slightly male, over-index in the 18-34 age group, are highly educated and have a higher-than-average income. Media have been early adopters of podcasting; Outside Magazine, the LA Times and Harvard Business Review, to name a few. Podcast stars have carved their niche and drawn cult followings, leading them to go “on tour” for live recordings in front of thousands of enthralled viewers. But, what is more interesting is how big brands like General Electric and Shopify are captivating audiences by offering intriguing, value-added content to their audiences. So, what’s all the fuss about? Here’s why audio is an effective content marketing touch point for your business: Cost Effective Production – When you weigh the costs of video production, podcasts are a cost effective way to produce and self-publish content. All you need is a quality microphone or recording equipment, basic editing software, simple artwork and time. Publishing to iTunes, Google Play, Spotify and other podcast listening platforms is simple and free (or at least very reasonable). Longer Dwell Time– Podcasts are inherently long form, often ranging from 10 minutes to an hour in length; or even produced as an episodic series. The average podcast user listens while they’re commuting, walking or working, so you can bet that in their earnest attempts to kill time, they can easily crush an entire season of episodes in less than a week. More time with your brand creates a sense of connection and loyalty for customers. Combat Algorithms – As we know, social media organic reach is shrinking and news feeds are cluttered. It’s difficult to get in front of your audience, let alone capture their attention for longer than a second. Podcasts are often discovered through earned means, such as word of mouth, reviews and media coverage. A great concept that resonates can generate free exposure and gain traction quickly. A Robust Brand Experience – When you’re building for the 3-second audition on Facebook, your content must be short, snackable and snappy. While it can be a great chance to drive action or build awareness, it doesn’t leave much time for in-depth brand building. A podcast, provides a blank slate for businesses to build multi-dimensional brand experience that includes music, visual aesthetics, tone, and personality. Partnership and Collaboration Opportunities – In the podcast world, collaborations and co-creation are common and encouraged. Publishing networks like NPR or Wondery often create teaser episodes that are distributed to other like-minded podcast shows; and hosts often give shout outs to up-and-comers or new season launches. Leveraging the power of like-minded podcasts is a great way to reach new audiences organically and authentically. Intimacy – Audio storytelling cultivates a sense of intimacy. It’s just you and the listener – no newsfeed to contend with, minimal distractions, and a certain level of concentration that only listening to a story can provide. Intimacy creates an emotional connection and listeners are more likely to regard your brand with the comfort and familiarity of an old friend. After all, your podcast has become part of their daily or weekly ritual. Advertising – If producing a podcast isn’t the right fit for your business, another consideration is to advertise on an already established one. In fact, 60% of podcast listeners buy products highlighted in the ads, according to Midroll – a media buying platform for podcast advertisers. Regardless of where you sit on podcasting for business, here are some of our favourite podcasts to whet your appetite. Do you have any to add to our list? Comment below!
