The largest study of podcasting in the UK has found that the genre offers a “unique opportunity” for marketers.
4DC reports that:
- Podcast listeners outspend non-podcast listeners in every area and millennial listeners outspend their peers by as much as 179%;
- A-listeners: the new audience ‘super group’ offers brands 43 minutes of their own free time;
- Podcast listeners are more environmentally conscious with a quarter (24%) saying they are more likely to choose a sustainable brand;
- Two in five will choose a podcast if it’s connected to a brand they love
Over the last 5 years, podcast listening has almost doubled, from 3.2m, to 5.9m [Ofcom]. That’s seen major names, including Netflix, McDonald’s, Nike and ITV creating branded podcasts.
4DC’s study involved 3126 respondents (1112 non-podcast listeners and 2014 podcast listeners).
It found that when it comes to in-home purchases, podcast listeners spend an average of £399 per month overall. That’s 42% more than non-listeners. 40% of these listeners make the purchases while doing housework, which 4DC believes could interest brands:
“This research demonstrates that podcasts provide an opportunity for brands to capitalise on the growth of this medium – brands should take note of the podcast pound,” said Howard Kosky, CEO and founder of 4DC.
“Podcast listeners are systematically outspending their peers and engaging this audience could be the key to maximising millennial marketing.”
Elsewhere the study showed that 93% of listeners who start a podcast will finish it and 90% tune in alone.
“Today, podcasting is only a small piece of the sky in the global brand landscape. But while video and new tech tools continue to dominate activity spend, podcasting’s star has – somewhat under the radar – been rising fast,” continued Kosky.
“Brands who can crack podcast partnerships have an opportunity to speak to this highly engaged audience for longer than they likely have been able to before. They have the potential to see returns that traditional media can no longer guarantee. These A-listeners are a unique and loyal audience who are active, connected and multiplying.”
Kosky also believes that podcast listeners are more “tuned in” and engaged, when making purchases.
- 40% will chose a podcast that’s connected to a brand they trust;
- 24% said they were more likely to consider a product if they knew the brand were sustainable (compared to 15% of non-podcast listeners);
- 17% are more likely to buy from brands with positive reviews (compared to 10% of non-listeners).
“The higher engagement levels of podcast listeners when making purchases should not be overlooked by marketers. Podcasts offer a unique opportunity for brands to communicate with their target audience in a focused environment, longer messaging can be discussed, and guest speakers can provide authentic advocacy moments,” concluded Kosky.
