Relevance: It is not surprising that the profitability of podcast marketing would lead marketing and advertising firms to increase their spending on it. Insider Intelligence predicts that podcast advertising in the U.S. will reach $2.56B in 2024, up from less than $1B in 2020. Data from Acast reveals that 68% of podcast marketers said they allocated a higher budget to their second podcast campaign than their first one. Moreover, marketers reported that incorporating podcast marketing into other types of media like social media, online video, and TV improves the campaign effectiveness by 21%-40%. Brands that should care: Any brand can benefit from incorporating podcast marketing into its overall marketing strategy. However, it would help to choose a podcast that aligns with your company's mission or product. For example, a cosmetics company should include its advertisement in a podcast that discusses beauty. Podcast marketing is ideal for a brand to reach a niche audience. |
What the numbers say: According to research from independent podcast company Acast, 67% of U.S. marketers report a $2 to $6 return for every dollar spent on podcasts. When asked which type of media would be more likely to return $6+, 20% of U.S. marketers named podcasts, making them the most lucrative media for marketing.