Podcasts are a small but fast growing market. About a month ago, I provided 4 reasons why you should absolutely invest in Podcast advertisements. Let’s look at how the market has changed since then, and why you should capitalize on this to grow your business along with it.
According to an upcoming report from Edison Media Research, Podcast audiences have grown 18% in the last year and awareness of Podcasting has grown from 22% in 2006 to 37% in 2007, which is a 70% jump! Podcasting News points out,
The survey found the podcast audience to be a well-balanced, attractive demographic for advertisers. Podcast listeners are:
* 49% female, 51% male.
* All ages. The survey found more listeners 55+ than in the 18-24 age group.
* Well-educated. Twice as many podcast users have advanced degrees as others.
* Well-to-do. Podcast users are twice as likely to have incomes over 100K and nearly twice as likely to have incomes between 75K and 100K.
* Wired – spending more than 50% more time online.
* More likely than others to own an HDTV and use a TiVo or other digital video recorder.
* More than twice as likely to own an iPod or other portable media player.
* More than twice as likely to own video gaming systems.
* Twice as likely as others to use NetFlix or other DVD rental service.
* 36% more likely than others to have made online purchases.
* Nearly 4 times as likely to have purchased songs or other digital audio online.
The survey also included some interesting information for advertisers:
* Podcast users are twice as likely to have clicked on a banner ad.
* However, podcast users are also much more likley to actively block spam, pop-up ads, spyware and other unwanted advertising.
The above-mentioned findings couldn’t be better from a marketing perspective. The medium is almost equally as appealing to both men and women (of all ages), who are well educated and have lots of money to spend. Furthermore, the Podcast-listening audience spends much more time online (and is consequently more likely to try out your service) and is 36% more likely than non-listeners to make online purchases. But of course you don’t have to advertise solely on Podcasts. The Podcast audience is twice as likely to click on banner-ads so you can use Pod-vertising as a complement (not a substitute) to your pre-existing ad-campaigns.
What are you waiting for? The market is growing, use it to your advantage and help your company and your customers/audience grow with it.