The Rising Star of Branded Content: Podcasts
Over the past few years, podcasting has grown from niche to mainstream medium that has a massive potential for increased growth with its deeply engaged audiences. According to Edison Research in 2018, 44% of Americans above the age of 12 have listened to a podcast. Podcasts offer a unique opportunity for brands looking to connect with consumers. They also present a way to engage with increasing smart speaker audiences that would prefer to listen to a podcast then turn on the television. Throughout 2019, more and more brands are embracing the medium in various ways, either as advertisers, sponsors or creators.
In order to delve deeper into trends in podcasting and the opportunity for brands, I spoke with Fara Warner, an award-winning author and journalist specializing in the art + science of storytelling in the digital age and new business models for journalism. She was most recently vice president and global content director of custom content at WSJ Custom Studios. She holds a master’s degree in journalism from Columbia University.
Things to consider before launching into creating podcasts
According to Warner, the first step in the podcast creation process is determining whether your brand has a great story for the podcast audio format or if it is just because podcasting is looming as the next big thing. Warner recommends that if you aren’t a regular podcast listener, try tuning in to the most popular podcasts that align with your brand’s mission or needs in order to understand why the medium is so engaging. Some brands might be better suited for “host reads,” in which the host of the podcast will read an advertisement during a break in the episode.
Podcasting is available across multiple different platforms, so breaking through the clutter with a unique story is challenging. Warner said, “Podcasting is no longer a niche medium where you’ll be the first or second or even 100th brand. Instead, determine if you have a big enough story that will engage with audiences or you may find yourself paying for distribution and audience in much the same way you do with other traditional forms of content and advertising.” In addition, measurement for podcasts remains in an early stage, only determined by downloads currently, so it can be difficult to know if your podcast has actually been listened to.
Types of podcast formats range from a traditional host interview to fictional or documentary style. If your brand feels as though a host interview style would fit best, searching for name recognition and social media following could aid in breaking through clutter. However, hosts may come with high talent fees, so looking at talent in-house could open up more opportunities. For example, Nike’s podcast, Trained by Nike, was sourced from in-house talent in addition to popular athletes and trainers.