As podcast consumption has grown, advertisers have followed as evidenced by the estimated $2.5 billion spent in the medium last year by brands. But marketers are still deciphering how to best approach their use of podcasting to maximize their results, and a new study released by Vox Media and ad giant Magna is shedding not only light into listener habits but how brands should consider listeners’ mindsets when advertising on podcasts.
Three in four listeners say podcasts serve as their primary source of information on topics in which they are most passionate. But the research focused on the mindset listeners had when they consumed the audio. It did that by recruiting a panel of 2,003 podcast listeners 18 and older who had listened to a show within the past 24 hours. They were given a diary that took a deep dive into that listening session, including the ads heard.
Using 43 different data inputs, researchers say a majority 53% of podcast listeners fell into the indulgence mindset when listening to a show. Another 31% fell into the inspiration mindset, while 16% were characterized as interconnected — or looking to feel connected with others and events in the world.
The data revealed that those in the indulgence mindset were more likely to listen at home or in the car, with listening sessions that were 12-times more likely to last more than an hour. By comparison, those in the inspirational mindset were more likely to listen to podcasts while at the gym or outdoors, with an active lifestyle that made them most likely to listen to podcasts for 30 minutes or less. Meantime, those characterized as interconnected listeners were most likely to listen while at a library or school. They were also 47-times more likely to listen to podcasts for two hours or more.
Those mindsets also had an impact on what they listened to. While interconnected listeners were most likely to listen to on-demand versions of radio and television shows, inspirational listeners were most open to narrative podcasts featuring actors. And the entertainment-focused listeners with an indulgent mindset were most likely to listen to shows that feature conversations between hosts or interview shows.
Based on the findings, Magna and Vox researchers say advertisers can take different approaches to reach each of those segments. Among its recommendations is that ads targeting indulgence and interconnected listeners tell a story, while ads targeting inspiration listeners be brief and get to the point. It also says that host-read ads are most effective among the indulgent listeners looking for a conversation, while traditional produced spots work best for the busy inspiration listeners. That also means indulgent listeners are best targeted with more frequent, shorter ads, while the other mindsets can be appealed to with fewer but longer ads.
The study says its findings have implications for how marketers buy podcast ads, suggesting they go beyond just the demo being reached. “Podcasts offer a breadth of experiences, and brands can go beyond audience alone and consider mindset when advertising,” the report says. “Work closely with your ad buyer and media owners to identify which podcasts fit each mindset and customize ads accordingly.”
In a potentially positive impact for podcasts across all genres, the research finds that mindset has little impact on the specific product category being advertising. It concludes the vast majority of listeners feel any vertical is suitable, regardless of their mindset. There are some variances however, such as Pharmaceutical ads were least appealing among listeners with an indulgence mindset.
“It’s been exciting to see how both podcast audiences and advertisers have evolved over the past few years,” says Dani Benowitz, Global Chief Negotiations Officer at IPG Mediabrands. “Our new Magna research adds another dimension to how we understand listeners and how brands can derive even better returns on their media investments through tailored planning strategies.”
The research also points to how podcast fans are increasingly moving beyond being fans of a show and being loyal to a podcast brand. A majority 58% of panelists say they had watched, shared or commented on a post or a shorter clip of a show on social media. And 53% follow a podcast on social media. That has had an impact on their purchase behavior. Three in ten (29%) say they had bought a product advertised on a podcast to support a host, and 31% bought books or other media that the host has created. Another 24% say they directly donated to support a podcast and 22% have purchased podcast merch.
“When we can expertly align their listening preferences with both our programming content and advertisements from our brand partners, then we create a truly connected experience,” says Bryon La Bumbard, VP of Podcast Partnerships at Vox Media. “This drives performance for our brand partners and, ultimately, better engagement with our listeners.”
Download the “It’s All in the Mind(set)” study HERE.