What Are The Ways To Measure The Success Of Podcast Advertising?
If your brand has been reluctant to take the plunge into podcast advertising, now is the perfect moment to do it. Since many people are still working from home, it’s a useful, informative, and fun way to fill time with podcasts. Podcast hosts’ fame grows as listeners form relationships with them, and as a result, listeners become more receptive to the sponsors’ advertisements that they hear.
Now with the ever-changing consumer behavior and media consumption, advertisers must move quickly to target their customers in their areas of interest. Although it might be thrilling to introduce a new channel to your marketing mix, you’ll also need to test, understand, and precisely assess if it’s worth the time and effort.
Advertisers have discovered a new advertising strategy in podcasting. It has become a viable option because it offers a personalized, concentrated experience, perfect for listeners’ attention. The number of American podcast listeners is estimated at 155 million, and of those, 104 million listen monthly. Neither can be disputed: the scope and adoption rate is unmistakable. While evaluating podcast ROI isn’t quite as simple as other marketing initiatives, there are methods to do it.
Podcast advertising allows you to amplify your brand and gain a captivated audience simpler than ever before. Here are some ways to measure the success of podcast advertising.
“How did you find us?” The use of surveys to supplement automatic tracking data with customer self-reported replies has shown to be quite effective. An excellent method to attribute exposure and, more crucially, recall and channel effectiveness when a customer looks to make a purchase directly from a brand is by asking them where they first heard about the brand or where they first encountered it.
Unlike other forms of media, listening to a podcast requires complete concentration, making an advertiser’s message more salient and memorable than it would be on other platforms.
Podcasts function differently from other types of media. For instance, the number of people who viewed a video on a site such as YouTube, Vimeo, or Facebook can be determined by tracking the amount of people who clicked to watch the video, how long they watched it, and even when they stopped viewing or skipped portions. Podcasts can be listened to online (in the same way that videos are) or downloaded.
Podcasts can be listened to online (in the same way that videos are) or downloaded. After people download the podcast the host has to go through some hurdles. This is to check for how much time the downloader has listened to it. Sometimes people download the file but they don’t even listen to the podcast at all.
Measure the size of the listening audience by tracking the number of unique downloads. It is possible to have more than one unique download request from the same overall listener, represented by the statistic “unique download.”
While there is some margin for error and calculating downloads is not a precise science, this is probably the most accurate approach to determine the size of your audience at present.
Pixels are used to track podcast exposure and subsequent website activity. They are the newest entry to the podcast measurement system. One of the most significant drawbacks of this technique is that podcast listening is frequently done “offline” after the audio episode has been downloaded from the internet. So, in pixels the impressions are podcast downloads, regardless of whether the audience has listened to it or not.
This is unpleasant; however, numerous third-party measurement partners are developing technological solutions for pixel the RSS feed to download the audio file and monitor the user’s subsequent visits to your website.
While this is by no means a flawless solution, the significant benefit it provides is the opportunity to track a greater number of success measures, such as impressions, cost per thousand impressions (CPM), total site visits, total sales, and cost per acquisition (CPA).
Those brands aiming to start a conversation immediately could use vanity tracking URLs to assess their success. While podcasting’s applicability to DRTV advertising and direct response measurement may seem fresh, this tried-and-true direct response measurement approach is just as important now as it has traditionally been (direct response television).
The use of vanity-tracking URLs would help to achieve smooth handoff and seamless transition. To do so, create unique landing pages that reference the previous content, product, or podcast that referred them. This reassures the customers that they are in the correct location. The correct setting of the vanity-tracking URLs is vital. Undoubtedly, the ability to easily and finely track URLs is necessary.
Brands can make the experience more personalized by giving their customers a promo code on each advertise podcast. One way to do this is by utilizing traditional podcasting advertising methods, such as advertisements and inserts.
When it comes to evaluating which podcast are generating more sales, creating a unique promo code would be handy. For this to be successful, you need to ensure that your IT infrastructure can track many distinct promo codes. Your sales channels (whether they are direct or through a third party) must be able to accept promo codes.
Reviews are a convenient and straightforward method to determine your podcast’s distinctive influence. You can request reviews from listeners by simply asking in response to social media postings about your podcast. If you broadcast your podcast via business email, it is also an excellent way to get feedback.
Incrementality testing helps optimize operations using operational insights. This technique uses constant adjustments to the campaign to keep providing valuable data about the value of paid media.
This technique is very useful in giving important information at the campaign, media vendor, medium, and demographic level. It is a marketing holy grail, but only a few are willing to put in the resources to analyse it. When it comes to the present state of the market, it is not possible to identify data. So, brands are using this testing.