In February, Spotify, the audio streaming platform, released Spotify Audience Network, which enables advertisers to access more than one million podcasts, including the ones created by Slate, Vox Media, ESPN, and How Stuff Works.
This platform follows Spotify’s early 2020 creation of podcast streaming ad incorporation, enabling podcast ads to be delivered in real-time. According to Maury Rogow, CEO of Hollywood’s Rip Media Group, it also offers trackable information on the number of listens. Rogow stated that podcast advertising can be both audio and video and has indeed come into its own. It enables investors with a great way to deliver targeted messaging to a very narrowly defined listener.
Advertisers can boost ROI by using a close listener profile/product fit to induce an outsized reaction from a relatively small (and thus relatively affordable) audience by using a tight definition. This definition incorporates high resemblance in tastes and preferences compared to audiences provided by other media, such as online general website advertisements.
According to recent statistics, 68 million Americans, or nearly a quarter of the overall population, listen to numerous podcasts every week—an estimate of seven different shows. As per the Edison Research, the shows themselves encompass a wide range of subjects such as true crime, econometrics, progressive politics, news, and current affairs, wide-ranging celebrity conversations, and a fan-driven scene-by-scene. It also offers a personality analysis of every episode of the television show “The Office,” one of the top 10 most popular podcasts in the United States.
Rogow commented that while ad treatment on such shows differs, most podcasts schedule 30- or 60-second spots at the start, middle, and end of the show. In several cases, the podcast host or hosts deliver the advertisements themselves; in fact, some use the advertising company-provided copy as a starting point for humorous improvisation. For instance, Conan O’Brien recently established an ad for State Farm Insurance by advising his secretary, Sona Movsesian, about a (fictional) car crash he had and what it would cost him. “Wouldn’t it be wonderful if there was anything you could purchase which would cover a portion of the cost when stuff like that happens?” he deadpanned.
Of course, this puts the transfer of the advertising message in the hands of an untrustworthy third party, which Rogow points out makes many advertisers unhappy. He says, “It’s understandable to want authority.” “On the contrary, it’s a reasonable guess that if State Farm had kept it simple, more audiences would remember what Conan O’Brien said, and for longer.”
Podcast marketing is micro-targeted by its very nature, as Rogow points out. You’re not going to attract everyone, he says; “Wait, Wait, Don’t Tell Me” or “The Joe Rogan Experience” isn’t going to appeal to everyone. Only a few folks are, and the advertiser already knows who those people are and what they find amusing so that you can take more chances.
And he says. “There is no such thing as an elevator pitch that will resonate to anyone and everyone,” Rogow says. The first rule of narration is to know your target audience. Speak to this audience and tell them a story filled with aphorisms and real consequences. They’re going to love you for it.”
About Rip Media Group:
Located in Los Angeles, California, Rip Media Group was founded in 2007 and is a pioneering video marketing company. Rip Media Group, established by digital innovator Maury Rogow, helps bring graphics and live-action videos a rare blend of narrating art and ROI strategy. Maury, who produced several motion pictures, is also a member of the Producers Guild of America. Because of his diverse background in filmmaking, he realized the importance of storytelling in advertising, no matter how complex the topic. This prompted his employment at a high-tech firm, which Cisco later purchased for more than $1 billion.
For more information, visit https://ripmediagroup.com