The term Podcast emerged in the 2000s by combining “iPod” + “broadcast.” Dave Winer and Adam Curry considered the fathers of podcasting, wanted an ideal way for downloading internet radio to the 2001 iPod.
By 2004, the podcast sensation had shot into cultural popularity where anyone with a message and a mic could command millions of followers on digital airwaves.
Fast forward to 2023, podcasting has become a global phenomenon with over 464.7 million listeners worldwide.
Today, the average podcast listener consumes up to 8 episodes of podcasts per week. In the crypto industry, podcasts have emerged as a way of consuming crypto-related news, market insights, and investing tips. This blog post will discuss crypto podcasts as a rising platform for advertising.
Do you need a crypto advertising network that offers all-rounded and tailor-made solutions to games, gambling sites, betting platforms, and casinos? Look no further than Bitmedia, a professional advertising agency that caters to the blockchain sector.
What are Crypto Podcasts?
Cryptocurrency podcasts have become a distinctive channel for drawing an audience seeking insights into the blockchain sector. In crypto, new trends are arising every day, the lingo also keeps expanding and users are regularly learning new skills. Podcasts are a great way for industry participants to stay abreast of what’s taking place.
Benefits of podcast advertising include:
- Information, education, and insights: Podcasts cover a wide range of topics from blockchain development insights, adoption, macroeconomics, geopolitics, regulations, and so on. This makes them a handy tool for gaining crucial industry information. For example, the “What Bitcoin Did?” podcast by Peter McCormack focuses on blockchain-related and macroeconomic subject matter. The podcast usually hosts high-quality guests, uses simple language, and comprehensively covers important industry topics.
- Easy consumption: One can listen to a podcast while at home, in the office as they work, or on the go. Unlike videos, traditional media, and text that demand more engagement, podcasts can be consumed even while conducting other activities.
- Quick to create: Creating a podcast requires less effort compared to other forms of internet content. All one needs is an internet connection, a microphone, recording software, and hardware. The existence of robust recording software like Audible and Google Chromecast further simplifies the process.
- Widening the audience: Podcasts serve as a complementary tool for creators to expand their audiences by submitting their content to dozens of publishers.
- Building authority, trust, and credibility: It is easy to persuade listeners about your authority on a subject matter through podcasting. For example, the voice modulation feature is crucial when emphasizing certain aspects and parts of a presentation.
Industry figures suggest podcasts generate the highest brand recall compared to other media ads. For example, a podcast has over 16% better ad engagement compared to other media forms. This underscores the overwhelming ability of podcasts to leave an indelible mark on listeners.
Before delving into ad format, advertisers need to take note of the future trends in podcast advertising
There is a belief that those who opt for premium YouTube accounts, enable ad blockers, and opt into streaming services are reachable through podcast advertising. Remember a podcast can follow users anywhere from the car, to the bookstore, kitchen, work, gym, or during a morning jog.
When users hear an ad from a source they trust and love, they are more likely to keep tabs even after the show. We’d argue the credibility of podcasts makes them a reliable advertising tool, and one of the best methods for building trust with your audience.
Effective Advertising Strategies
A study found that 56% of the world is avoiding visual stimulation. For this world’s half, audio including podcasts serves as their respite. Nevertheless, this does not mean they are listening to podcasts for the sake of it.
For instance, 90% of the United States population is listening to nearly the whole podcast episode but only half (52%) of them are willing to stick to the end of the show.
This statistic has proven to be a groundbreaking discovery for advertisers who found that 54% of podcast fans are more likely to buy from brands they heard on a podcast.
Below are important strategies for advertising cryptocurrencies using a podcast:
Step 1: Identifying relevant podcasts
The podcasting arena gives advertisers plenty of room to play with their creativity. However, the very first step is writing down the best categories that align with your target audience, product, and subject matter. Even if you are advertising a crypto product, there is a need to be aligned with the right podcasters.
For example, one crypto podcast could be discussing topics around blockchain development while another one is more focused on trading. Both of them might have similar audience demographics but they are quite different.
Bitmedia.IO, a blockchain advertising agency with a history of creating authentic and organic ad strategies, recommends podcast ads to directly relate to the specific topic of a show/episode.
If the podcast episode does not resonate with your brand’s values, the ad might not resonate with the audience. Therefore, focus on identifying relevant cryptocurrency podcasts that focus on your brand’s sector.
Step 2: Crafting compelling ad scripts
“Whenever you can, make the product your advertisement’s hero. Whenever you think a product is too dull to advertise, remember there can be only dull writers and not dull products” Said David Ogilvy.
In podcasting and podcast advertising, the script serves as the heartbeat of any message. There is a need to carefully weave in a narrative that resonates with the entire show’s subject. Ensure the narrative is interesting, and informative and compels listeners to take action without drawing attention to itself.
The blockchain industry might seem like an intimidating niche for marketing copy with all the terminologies. However, every product has an intriguing part, and you have to include this as you craft compelling ad scripts.
A podcast ad script must be detailed, compelling, and feature a call-to-action (CTA).
Step 3: Leveraging host endorsements and sponsorships
Many marketers will agree that few strategies can beat the impact of weaving an ad around a host’s sponsorships and endorsements. Listeners can easily resonate with a product when a host genuinely endorses it. The advertisement now serves as a recommendation by a trusted friend, hence raising credibility around your brand or product.
Podcast advertisers must closely work with podcast hosts to help them better understand the product. If the host genuinely believes in the product, promoting it will be a walk in the park. A good strategy is providing the hosts with exclusive promo codes and tying them to particular special offers.
Case Studies: Successful Advertising Campaigns on Cryptocurrency Podcasts
One of the best case studies for a crypto podcast advertising campaign is Coinbase through its Around the Block Podcast. The weekly show hosts prominent founders, regulatory leaders, and builders shaping the blockchain space. The exchange features various advertisements focused on educating listeners about new crypto listings, crypto basics, and the benefits of using the platform.
Binance Exchange also launched a podcast in 2023 called Crossing the Chain. The podcast covers important topics around global policy, geopolitical regulations, and compliance laws that affect the crypto industry. While the podcast hosts top global policy officials, the hosts ensure they deliver information in an easy and digestible format.
These podcasts have enabled both exchanges to drive tons of thousands of engagements per episode and advertise their key products using easily digestible language.
Choosing Podcast Advertising Partnerships
The world is home to over 3 million active podcasts which are available in 100+ languages. This big number might make it difficult to choose the right podcast for your advertisement. Hence the need to study the market, your audience and your product fit when vetting the best shows, hosts and subject matter for your ad.
Research and vetting podcast hosts/networks
Once you have defined your product’s goals and target audience, utilize podcast directories to locate podcasts within your niche. It is in these podcasts that you will find audiences that align with your interests. Before picking your podcast, consider factors like brand alignment, engagement and audience size.
Listening to some of the episodes will be important when creating ad scripts in their style, tone and content format. Meanwhile, don’t forget to do due diligence to find out the host’s reputation and credibility. Tools that come in handy at this stage include podcast review websites, listener demographics data and engagement metrics. These metrics and measurements are great tools when vetting whether your brand can enter into long-term partnerships with particular podcast hosts.
Negotiating ad placements and pricing
After evaluating every factor and metric for your product’s advertisement, the next step is negotiating ad placements and pricing. First, you’ll have to reach out to the podcast hosts to inquire about any ad opportunities.
There are various advertising options including pre-roll, mid-roll and post-roll. You’ll need to inquire about the available ad formats too, such as host-read, sponsorships and produced. All of these options have different pricing. Other pricing factors will include the size of the audience and the duration of the ad campaign.
Before signing the contract, agree and negotiate on the advertisement contract terms. Ensure you carefully review the ad delivery time, budget and request any needed clarity.
Optimize your campaigns by tracking the Podcast ad performance, staying in contact with the podcast host, and following up with more optimizations.
Also, remember the podcast host might have several special offers that are capable of cutting down your costs.
We advise seeking the help of a cryptocurrency advertising agency to assist with your crypto advertising needs. Bitmedia, a versatile blockchain marketing agency offers different ad types from podcast placement, influencer collaborations, and display ads.
The agency is also popular for its advanced targeting algorithm, intuitive and rich-media display ads as well as its reputable track record in launching successful crypto ad campaigns.
Podcasts are so good, that one can barely resist the temptation to quote something they heard from a host. Be it a stat, quote, or wise takeaway. In cryptocurrency, podcasts have emerged as a powerful tool for educating the masses and delivering vital industry insights. Outside educating and thought-leadership, podcasts are also an excellent advertising tool for brands that want to convert 16% higher than those advertising on other media.
Interested in taking your blockchain game, dApp, crypto exchange or gambling platform to the 467 million podcast listeners? Bitmedia has already built an extensive network of credible publishers that can take your brand’s signups to the next level.
By staying in touch with a Bitmedia account manager, you’ll receive all the assistance you need to optimize your advertising campaign.
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