Podcasting as a medium has expanded rapidly over the past few years. While its presence in Asia is waning, more and more brands are investing in this space.
In fact, recent insights from Acast research reveal a dramatic shift in the mindset of marketers worldwide, with 49% of marketers expecting their media spend to increase over the next five years. Masu.
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Podcast ad spending is expected to skyrocket over the next five years, signifying a growing recognition of the immense value of this medium.
This begs the question whether brands should jump on the bandwagon and create their own podcasts.
Timi Sitanko, key account director at Acast Asia, said podcasts can create connections and community in a way that other media cannot. However, if your brand does not have an existing audience, it will be difficult to achieve the desired results. “Brands that succeed with their own podcasts are the ones that already have a developed content marketing engine,” he says Siytangco.
“They typically already have long-running blogs and established audiences on social media, and they invest as much budget into promoting their podcasts as they do producing them.”
Sponsor, please don't create one.
One way brands can participate and engage with podcast channels is to sponsor them instead, suggests Siytangco. “For most brands, the most effective way to capitalize on the popularity of podcasts is to sponsor them or advertise across a collection of related shows,” Sitanko said.
According to Siytangco, sponsorship budgets are flexible and can provide creative opportunities for brands. She added that rather than creating a podcast series, brands could instead work with podcasters who can script and deliver effective brand messages.
Alternatively, brands can get creative within a 30-second audio ad using sound effects, 3D audio, and a great script.
Additionally, podcast advertising is now highly measurable. Audio doesn't have clicks, but the ecosystem is rapidly evolving in terms of brand lift and measurement technology. Targeting innovations are also available that allow brands to reach specific audiences, regardless of which podcasts they listen to.
“If you need to reach new parents, you don't have to just appear on parenting shows. There are very few such shows. In fact, parents are more likely to listen to news, comedy, and entertainment shows,” says Sitanko. he said.
Karl Javier, CEO of PumaPodcast, agreed with Siytangco and added that there are many other factors to consider when creating a branded podcast. These factors include whether your brand has the time to focus on its podcast efforts and what its short- and long-term goals are.
“While building a branded podcast takes a lot of time, effort, and expertise, it’s relatively easy to find and support, partner with, and sponsor existing podcasts that align with your brand and its goals.” Javier said.
At the end of the day, it all comes down to your brand goals. Javier said:
If your goal is to reach listeners, find ways to work with and partner with existing podcasts that have a listener base.
But Javier added that if your goal is industry leadership, other organizations, or B2B, launching your own podcast may be strategic.
Start a podcast from scratch
However, if your organization is determined to create a podcast, one brand to learn about is Standard Chartered. In Singapore, the bank offers several podcast series including: Market updates and Industry in transition.
Lisa Ortner-Goulds, global head of financial markets marketing at Standard Chartered, says podcasts are an important channel for brands to communicate with customers. This is especially true because it allows you to approach complex topics in a conversational and engaging way.
Lisa Ortner-Goes, Global Head of Financial Markets Marketing at Standard Chartered, will speak at MARKETING-INTERACTIVE's annual #Content360 conference on 24-25 April 2024. Check out her session here.
“We're in the B2B space. It's B2B marketing, it's financial services. So it goes back to what we want the podcast to do. What is it that provides insight to our clients? ” Ortner-Guse said.
“Podcasts are very easy to understand and allow us to talk about complex topics in plain English, which is why they resonate with our target audience.”
It should feel like a dinner table conversation.
Ortner Gouls echoed Sitanco and Javier, explaining that Standard Chartered produces most, if not all, of its podcasts in partnership with its clients. “We decide on relevant topics and flesh them out basically like a panel discussion,” she said. “Leverage your customer base, find strong hosts (people you can develop in-house), or consider partnering with journalists.”
Ortner-Goulds explained that creating an impactful podcast requires a clear channel and editorial strategy. This includes figuring out the right frequency for episodes and creating a specific editorial calendar.
Brands also need to strategize how much money to invest in podcasts. Especially since promoting a podcast in its early stages and building a listener base requires a lot of money. That's why Ortner-Ghouze recommends starting your own podcast channel only if your brand has all the resources.
Still, Ortner Goes emphasizes that podcasts are just one of Standard Chartered's communication channels. “This is one of the important channels for communicating with customers, but it's not the only one,” says Ortner-Ghouze. “We are also investing in short and long-form articles, videos and infographics.”
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