Podcasts Present a Powerful Opportunity for Brands in 2024
March 2024
Podcast listenership continued to grow last year; eMarketer estimates that over 143 million people in North America watched or listened to a podcast at least once a month in 2023—and 3 in 10 tuned in on a weekly basis. The upshot is obvious: podcasts present an unprecedented opportunity to connect with and expand your audience and should be seriously considered as part of your 2024 marketing and content strategy.
Video podcasts in particular are gaining ground—presenting a unique opportunity to reach a predominantly younger generation of consumers. According to eMarketer, “YouTube is the second most popular place for listening to podcasts for Gen Z after Spotify.” This audience bears special consideration, as Gen Z (consumers born between 1995 and 2012) now comprises 32% of the global population, making it the largest generation in history. And critically, Gen Z is expected to have the highest podcast-listening penetration of any generation by 2026.
The data illuminates another salient point: podcast listeners are putting their money where their ears (and eyes) are; over one-third of U.S. podcast listeners have made a conversion based on podcast ad placement. These purchasers are predominantly millennials, but Gen Z is on track to outpace them in the coming years. Click here to learn more about how Gen Z is rewriting the playbook for brands and marketers in today’s hypercompetitive business landscape.
Critical Considerations to Ensure Your Podcast Supports Your Marketing & Content Strategy
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- Create value for your audience.
Consider your audience’s specific wants and needs, strive to answer pressing questions and address potential pain points with your podcast content.
- Reinforce your brand positioning and values.
Like any brand touchpoint, podcast content must align with and support your existing brand positioning and go-to-market strategy.
- Build reputation and authority.
Deliver high-quality, strategically relevant content to establish and grow a platform for thought leadership.
- Develop a content calendar.
Plan a consistent long-term content release schedule while remaining nimble enough to ensure optimal relevancy of your podcast content.
- Create a website.
Building a dedicated web platform for your podcast can provide long-term marketing benefits and unique insights into your audience.
- Analyze viewer/listener data.
On what platforms or devices is your podcast most popular? Where and when are downloads occurring? Understand and apply this information to drive future growth.
- Encourage engagement.
Successful podcasts are a dialogue between author and audience. Solicit feedback and continue the conversation with your listeners on social media.
- Create value for your audience.
In short, 2024 presents a critical opportunity to reassess the value proposition podcasts present to your brand as you develop and refine your 2024 marketing and content strategy. The simple truth is that brands that fail to meaningfully engage with their audiences via the platforms and channels that matter to them miss key opportunities for growth.
Insight Sources
- https://content-na1.emarketer.com/global-podcast-listeners-forecast-2023
- https://content-na1.emarketer.com/iab-data-podcast-strategy-needs-shift-toward-programmatic-audience-based-advertising
- https://content-na1.emarketer.com/who-actually-buying-stuff-podcast-ads
- https://www.insiderintelligence.com/insights/generation-z-facts/
- https://www.tailorbrands.com/blog/build-a-podcast-brand
- https://improvepodcast.com/podcasting-best-practices-guide-23-tips-to-implement-now/
Let's Make Your Brand Matter
To learn more about this topic or to discuss an issue impacting your business, contact Bailey’s Vice President of Client Services, Jamie Gailewicz, at 610-818-3103 or email us at [email protected].
