Podcast: The Future of Advertising
Innovation is happening all around us, at a fast rate. New technologies and devices are being introduced every month, with the aim of improving our lives in the 21st century. With the introduction of these new devices, the world of broadcasting was forever changed.
Podcast, a portmanteau of iPod and broadcast, has been around for years now, and it is an instant hit especially with teenagers and young adults. One of the leading radio networks in the United States, Podcast One, is changing the way advertisement is being delivered. Norman Pattiz, the executive chairman of Podcast One, decided to conduct a research study in partnership with Edison Research.
The two companies revealed the result of their study just recently. The study was conducted by the end of 2016, and they are proud to announce that this is the first research of its kind. The central focus of the research is to point out how podcasting affects the performance of a brand being advertised. Learn more about Norman Pattiz: http://www.fundacity.com/norman-pattiz and https://www.linkedin.com/in/norman-pattiz
Tom Webster, the vice president of strategy for Edison Research, have stated how the research was conducted. According to him, the research went on for four to six weeks, and it is divided into five series of advertising tests.
Five major products have decided to join the study, either for brand recall or just to introduce a new product. What happens is that during a podcast, their advertisement will be played back. Listeners would be given an online survey at the beginning of the advertisement, and they are the ones who would choose the advertisement’s rating. The results of the study are the following:
- During the post study period, it was found out that 60% of consumers are able to recall the product brand after it has been aired in a podcast, a huge leap compared to only 7% during the pre-study period.
- The percentage of awareness for unaided products climbed up from the pre-study period compared to the post-study period by at least 24% for lawn and gardening products, 37% for automobile products, and 47% for financial products and services.
- Greater than one third of those who managed to hear an automobile advertisement that is being podcasted have expressed their favorable opinion on the product, and at least 22% of the listeners have expressed their openness on trying out the lawn and gardening products aired during the podcast.
- Product campaign message awareness went up to at least 76% for restaurants and 60% for automobile products.
Because of the positive outcome of the research, Norman Pattiz is confident that advertising revenue for his company would rise tremendously, because the demand is also increasing.