From nationally-known shows like Joe Rogan and Ben Shapiro to niche programs catering to a specific audience, podcasts are officially a thing. As of fall 2019, 51% (144 million) of the US population had listened to a podcast, and 21% listened weekly. While podcasting has largely been a national play, it's now reached the point where an increasing number of opportunities are becoming available to local advertisers.
Before we jump into costs and specifics, let's look at why you may want to consider podcast advertising for your dealership1.
Podcasting might look like radio. But where radio is mass media, podcasting is very personal and intimate for the listener.
The price to advertise in Podcasts varies and is typically based on audience size as measured by monthly average downloads per episode. As of Oct 1, 2019, the industry average price per 1,000 listeners was $18 for a 30-second ad, and $25 for a 60-second ad. Like most advertising, rates are negotiable, but ad positions are very limited. Keep in mind that standard lengths aren't required, so it's not uncommon to contract ads longer than 60-seconds.
Beyond cost, it is essential to understand how Podcasts mandate a different approach in the creation of sponsorship content. Typical commercial-style radio ads and jingles sound very out of place on a Podcast. Instead, see if the show host, especially if they're local, will read your ad copy or – even better- provide an endorsement or testimonial for you! If that's not feasible, then use a heartfelt voice like the owner of your dealership. An additional benefit of this approach is that you can make copy changes relatively quickly and inexpensively. To get some ideas, find Podcasts you enjoy and listen to how they approach the sponsorship content, or hire a professional to help you. Then be consistent.
Podcasts are already a proven platform for national advertisers, and benefits await dealerships who get connected with relevant Podcasts on a local level. Who knows, you may even decide it's time to start your own Podcast. But that's a subject for a different day.
Ed Steenman is owner of Steenman Associates that provides traditional and digital media services to automotive dealerships and dealer groups nationally. An internationally recognized writer and presenter on social media and digital strategies, Ed Steenman and his team have been on the 'bleeding edge' of the digital revolution both presenting and implementing digital strategies for a diverse group of clientele. Recent engagements include keynotes and breakout sessions for Volkswagen of Mexico, the Associated Equipment Dealers Lawson Executive Summit in Chicago and others.
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