In the last ten years, podcasts have gone from something unknown to one of the main ways to consume content.
But why are they so popular and why might podcasts be your next business opportunity?👇
Fact check
🌟 There are 4,168,348 podcasts in existence at the time of this writing.
🌟 The average listener spends 7 hours per week glued to their favorite podcast app.
🌟 Sweden and Norway have the largest number of monthly listeners by percentage of internet users.
🌟 There are 464 million podcast listeners worldwide, which is projected to reach 504.9 million by 2024.
Creating connections
Podcasts are loved for their unique way of storytelling, sharing useful info, and entertainment. Podcasts also seem to rise to its fame due to the refreshing personal touch. There's something about connecting with a human voice whether it's sharing stories, knowledge or just making conversation. It becomes intimate and invites listeners in on the story, not just an outside spectator.
The multitasker’s best friend
Podcasts have also become essential because they adapt so seamlessly to our daily routines. In this multitasking world we live in, podcasts are a great way to engage with content without having to glue our eyes to a screen. No matter if you're on your daily commute, hitting the gym, or cooking dinner, podcasts effortlessly enhance those moments, opening up a world of discovery and entertainment. This means you can reach your target in the right moments.
A Marketing Goldmine
Podcasts have this unique power to build strong connections and loyalty, and marketers are definitely taking note. We’ve seen major wins with targeted ads on podcasts, thanks to reaching your target audience and the trust listeners place in their podcast hosts.
Take HelloFresh, for instance. They seamlessly weave their ads into podcast episodes, and the results —big boosts in sales, all because of the endorsement for trusted podcast voices speaking well of their product.
And then there's Slack, the big player in workplace communication. They started their own podcast "Work in Progress," digging into stories shaping our work lives. Not only did it establish Slack as a leader in the field, but also drew in customers by sharing real, relatable stories.
The Future of Advertising?
The podcast boom reflects a genuine desire for easy-to-digest content. Looking ahead, integrating podcasts into branding strategies allows you to reach your community and adapt to digital shifts in the market. But remember to make your message relevant for this format. Because the intimate and personal connection between the podcast and its listeners also makes it more sensitive for straight-out advertisements.