The popularity of podcasting and audio streaming has skyrocketed over the past few years. An increasing number of influencers, content creators, and brands are jumping on the podcast wave to connect with their audience in new and engaging ways. With this advent of audio streaming, opportunities are emerging for brands to reach a wider audience, build credibility, and position the brand as more than a product.
A podcast is audio content or digital media available in episodes that listeners can listen to via streaming or on-demand. The episodes are part of a themed series and feature a host or guest with relevant knowledge on a particular subject. Podcasts are becoming increasingly important for marketers, with many turning to this medium to raise awareness among the target audience and enhance brand positioning.
In this blog, we share the top 3 reasons why brands should include podcast and audio streaming as part of their marketing strategies.
What are the stats saying?
According to PwC’s Media Outlook, the South African podcast market is forecast to be up to 19 million monthly listeners by 2024, with popular podcasts garnering millions of listeners per month. Well, this is evident that your target audience is probably listening to a podcast right now, making podcasting a marketing necessity. The massive growth and surge in demand for podcasts are influencing marketers to rethink their strategies and include this fast-growing form of content.
Helps you reach the right audience
In marketing, targeting the right audience is the foundation of any strategy. Many people now listen to podcasts, allowing brands to tell their stories and connect with audiences anytime and anywhere. Today’s lifestyle is on the go, and through on-demand audio streaming, brands can engage with the audience while they experience life. As a marketing tool, podcasts hold enormous potential for brands to reach a wider audience and generate new leads.
By producing relevant content, brands can also deepen engagements and deliver a unique point of view that inspires customers and convert them into loyal brand activists.
Build brand reputation and credibility
The best storytellers always leave a lasting impression on their listeners. Having a podcast helps you build your brand beyond just being a business. Whether a traditional interview or a creative approach, you can build credibility with your audience by positioning your brand as a thought leader within a specific industry.
Podcasting allows you to share and demonstrate your expertise with the world intimately and genuinely A brand can be more than just a business. Creating a podcast that showcases your brand’s knowledge opens new pathways to building trust and establishing credibility with existing and new customers.
Humanise your company
Your brand is not only about selling a product or service. When you communicate with new and prospective customers through podcasting, listeners hear you, not as a company but as a person. To humanise a brand, marketers need to reframe their stories and focus on people instead of products and solutions. This gives life to the brand personality and exhibits the business beyond marketing goals. Podcasting can engage listeners by delivering value through genuine and relatable content. This is one of the most powerful ways to connect with your audience. A branded podcast can be a tool for companies to drive brand awareness in a unique, entertaining, and informative angle without overpowering the customer with promotional content.
An example of a brand that humanised its content through podcasting would be the sports drink company Gatorade. The sports-drink giant created a six-part podcast series that interviewed successful sports personalities like Serena Williams. The topics focused on their motivations, what fuels them on the field, their secrets to success, etc. Such content was created to inspire the audience.
Beauty retailer Sephora hosts the #LIPSTORIES podcast series that features guests engaging in in-depth discussions about self-image, empowerment and what beauty means to them. This type of content serves not only to inspire but entertain the listeners.
What does this mean for brands?
Research by Africa Podfest and Baraza Media Lab cites podcasting as a crucial growth opportunity for Africa’s creative economy. Podcasts can amplify existing marketing channels if implemented as part of a digital marketing strategy. For businesses, podcasts offer a unique opportunity to reach customers in a new and engaging way. Podcasting is one of the most effective ways to build a strong association with a brand. Businesses can utilise podcasts and audio streaming to tell their stories and connect with customers on a much more intimate level than any other form of marketing through the medium’s interactive nature. Audio streaming can serve as the perfect tool for companies to provide high-quality content in a personalised manner.
Why add podcasts to your digital marketing mix?
Podcasts are versatile, enlightening, and empowering. When added to the marketing mix, they are more effective in building a deeper connection with the audience than any other platform. It builds brand authority that helps companies stand out from the competition.
According to Nielsen’s Podcast Ad Effectiveness study released in February 2022, 71% of surveyed consumers said host-read podcast ads lead to higher levels of interest, purchase intent and recommendation intent.
Through podcasting and audio streaming, communication between a brand and customers becomes a two-way street. Since podcasts also act as a community-driven medium, brands can invite the audience to further engage with them to understand their needs better. Marketing can be done more efficiently while starting conversations and bridging connections with the audience. Podcasts make great branded content and enable businesses to target people on the go with relevant and timely messages – thanks to the growing accessibility to smartphones and increased internet penetration.
How the audience consumes content today is changing, and so should your marketing strategy. Businesses need to keep up with the changes to stay relevant and engage with their customers in new ways. Traditional marketing techniques are no longer sufficient in helping brands nurture relationships or convert customers into fans. Podcasting is emerging as a powerful tool to promote brand visibility and build a loyal following in a less expensive and time-consuming manner. Audio streaming allows brands to focus on relationship building rather than a sales pitch.
Start a conversation today with your customers!