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As with most emerging forms of content, some unknowns come along with branded podcasts.
When we first hop on a call with brands, they typically have a couple of misconceptions about branded podcasting. We’ve heard things like:
- Isn’t a branded podcast just a longer podcast ad?
- Measuring podcast ROI is nearly impossible
- No one will want to listen to a podcast produced by a brand
That’s why refining the purpose of a branded podcast, how it can help you meet your unique goals, and how to measure podcast ROI is so important.
To help marketers interested in launching a podcast or for brands new to audio, the Quill team put together a list of our top 5 commonly heard myths to help you sift through the noise.
Myth 1: You should use your branded podcast to sell your brand
At first glance, a branded podcast seems like the perfect opportunity to sell your product/service. However, a branded podcast is not an extended infomercial and listening apps aren’t the shopping channel.
Above all, branded podcasts are an opportunity to increase brand credibility and awareness. If you name-drop your product for twenty minutes, you will get neither. Awareness and credibility come from a podcast that is well-respected and that provides value to the audience.
Audiences turn to podcasts for education, inspiration, and entertainment, so your goal when creating content for your podcast should always be to bring value to your audience. If not, they’ll quickly press pause and find it elsewhere.
To make sure you are providing value, here are a couple of best practices:
Create your ideal listener persona
Similar to developing a customer persona, an ideal listener profile identifies the demographic and psychographic behaviors of your potential audience. Who do you want to listen to your content?
By understanding their needs and desires, you can develop a relationship with your audience and create content that resonates with them.
Ensure your podcast has its own distinct brand that can stand on its own
Much like investing in creating memorable logos and catchy jingles, your podcast's brand assets are extensions of your brand's values and essence. These elements not only communicate your podcast's strengths but also make it more memorable and engaging. They become shorthand for your brand, facilitating recognition and resonance among your audience across various platforms, from social media to merchandise.
It’s been shown that delivering messages through brand stories can enhance memorability by up to 22x compared to simply listing facts. Plus, revenue is projected to increase by up to 23% when a brand’s presentation is consistent across all platforms and mediums.
A robust brand identity opens doors for brand extensions, such as merchandise, exclusive content deals, or in-person or online events, which deepen audience engagement and generate revenue streams.
Quill tip: If you’re interested in learning how to create a unique brand for your podcast, check out our article that outlines five expert-backed tips.
Make connections to your brand without being sales-y
Audiences are discerning and can sense they're being sold to (even if you think you’re being subtle). Adding a small company logo to your cover art and mentioning your company name once in your intro/outro is good enough for your audience to make the association between your podcast and your company.
Ultimately, approach creating your branded podcast as an opportunity to provide value and engage your target audience. If you provide value and demonstrate you’re an expert, listeners will turn to your brand when they’re ready to make a purchase.
Remember, your branded podcast is the product.
Quick tip: Learning more about why you should be treating content like a product this year.
Myth 2: You can’t measure the ROI of a branded podcast
Quite a few brands think that it's impossible to measure ROI. After all, there isn’t a lot of data associated with podcasts. Plus, it can be difficult to understand the metrics you have.
For example, just because 5000 people have downloaded a podcast episode doesn’t mean 5000 people listened to your podcast.
However, once you understand your podcast analytics you’re one step closer to measuring ROI.
Let’s use the same example from earlier: if your analytics tell you 5000 people downloaded your episode, you can compare that with your number of unique listeners to measure how many people are repeat listeners. If your unique listeners are super low and downloads are super high, it means that you have a small number of listeners that have repeated your episode.
How you measure podcast ROI will vary based on your brand’s unique goals, but here are a few common ways to measure podcast ROI:
- Audience growth: This includes the number of downloads, subscribers, and social media followers you have. Subscribers, in particular, are highly engaged listeners who are likely to consume multiple episodes, increasing their potential value to advertisers or sponsors. If you're consistently seeing an increase in these metrics, it's a good sign that your podcast is resonating.
- Revenue: This is the most tangible way to measure podcast ROI. This can include advertising, sponsorships, merchandise, and even listener donations. If you have podcast sponsors or run advertisements, measure the revenue generated from these partnerships. Track the number of sponsorships, ad impressions, click-through rates, and conversion rates to calculate the financial return from your podcast. For a quick way to find the financial return of your podcast, check out CoHost’s Podcast ROI Calculator.
- Brand awareness: Measure the ROI of your podcast by looking at the impact it's having on your brand. This can include increased visibility, improved reputation, and increased customer loyalty. Metrics like downloads, unique listeners, and subscribers are important to consider when evaluating the overall success of your podcast.
It’s not only possible to measure the ROI of branded podcasts, but it can help you measure the effectiveness of your content across other channels!
Podcasts teach you more about your audience's needs and expectations. If you realize episodes about a certain topic are performing well, you can begin to highlight that content on your other channels.
A great way to capitalize on the data available to you is by using a podcast analytics and audience insights platform like CoHost. These paid-for platforms give you access to in-depth data points that help you measure ROI.
Quill tip: Looking to make sense of podcast analytics? Check out CoHost’s Ultimate Podcast Analytics Dictionary to help you feel confident making your data-driven decisions.
Myth 3: Podcasts are different from other types of content, so they can’t integrate into my wider marketing strategy
It's easy to fall into the trap of thinking your podcast is simply too different from your other channels to be used in your overarching strategy. However, the worst thing you can do is put your series in a silo; instead, integrate your podcast into your content marketing strategy and employ an omnichannel approach.
However, this myth isn’t entirely wrong – podcasts are different from other channels, but that's a good thing! Diversifying your content and creating multiple touchpoints is a great way to nurture leads. Your podcast shouldn't be a regurgitation of your content from other platforms, but rather a compliment.
Podcasts are an amazing resource for generating content for other platforms. You can post quotes, behind-the-scenes footage, and sneak peeks pulled from your podcast across your socials, newsletters, blogs, etc.
In fact, 30% of people find new podcasts on the internet and 17% find new podcasts to download on social media – so the more touchpoints you have for people to connect with your series the better.
Here are some of our favorite examples of podcasts on social media:
Quill tip: 94% of marketers repurpose their content for a reason. If you’re looking to rerpurpose your podcast content but aren’t sure where to start, we put together a blog that details some of the top-performing channels and strategies to leverage.
Myth 4: Branded podcasts are too much work
We get it. Compared to creating a post for Instagram or sending out a mass email, podcasts are a lot of work! Creating long-form content is different than short form, but that doesn't mean it isn’t manageable.
If you do choose to produce in-house, putting together an effective strategy for managing your branded podcast will help to avoid becoming overwhelmed. Planning your content and setting deadlines is critical for effectively managing your podcast and workload.
Hiring a podcast agency
Many brands are turning to full-service podcast agencies to handle the heavy lifting. By leveraging the specialized skills and insights of a podcast agency, companies can turn the challenges of podcasting into impactful content opportunities.
Here are a few more benefits:
- Experience and industry knowledge
- Piggyback on their credibility
- Access to additional resources like audio engineers, editors, and podcast hosting and analytics tools
- A robust network for guest sourcing and arranging promotional opportunities
- Time savings
- Professional-grade quality
Quill tip: To learn more about the benefits of podcast agencies and exactly what they do, check out our blog that details 9 benefits of partnering with a podcast agency in 2024.
Myth 5: Branded podcasts can only increase external brand awareness
Branded podcasts are effective tools for expanding brand awareness externally, but also boosting awareness internally! People enjoy and are proud to work for companies that are considered thought leaders.
Remember – your employees are your best ambassadors. Make sure you encourage them to listen and share. Or even better, involve them in your podcast creation process. Can they submit ideas for topics? Pitch guests? Vote on the cover? Make them feel like they have a stake in the development of your branded show.
On top of that, well-produced podcasts help attract candidates, build authority, and strengthen your internal communications strategy. Some brands like PwC, American Airlines, and Lululemon have produced internal podcasts to help inform and motivate their employees. Here’s why:
Podcasts engage employees
While 77% of employees opened internal emails, 37% of recipients read those messages and just 24% clicked through to see links or images. Unlike emails, podcasts are measurable, engaging, and easy for employees to interact with on the go, making them the perfect medium to share company updates and values, industry news, and leadership insights. This sentiment is reflected in their engagement rates, reaching above 60%.
Podcasts are convenient and accessible
Podcasts are made for on-the-go consumption and that’s one of the main reasons why people love listening to them with 59% listening to podcasts while doing housework, 52% driving, and 50% cooking or baking. This is unique to podcasts – employees can’t multitask while engaging with an email or blog post.
Attract and retain top talent
As mentioned, people want to work for companies that are thought leaders. On top of that, employees tend to remain loyal to companies that align with their values and resonate with their professional aspirations. We can see this in the numbers – employees who believe their company has a purpose greater than profits are 27% more likely to be loyal. The success stories you choose to share on your podcast will inspire employees to envision their career paths within the organization, fostering a sense of belonging.
Quill tip: For more information about how branded podcasts can be used to strengthen your internal communications strategy, check out our article.
Is 2024 the year for your branded podcast?
Now that we have debunked 5 myths about branded podcasts, here is what to remember moving forward:
- Branded podcasts are not infomercials
- Measuring podcast ROI is possible and the data available to help you measure the impact of your show is improving every day
- Branded podcasts should be part of an omnichannel marketing plan
- Podcasts are manageable with the right strategy (or the right agency on your side)
- Podcasts are great for enhancing your internal comms strategy
Above all, branded podcasts offer a unique opportunity to connect with audiences on a deeper level, foster brand loyalty, and drive meaningful engagement. By understanding the realities behind these myths, brands can confidently invest in creating compelling, authentic content that resonates with listeners.
If you’d like to learn more about branded podcasting and what partnering with a podcast agency looks like, reach out to the Quill team!