Podcasting is an engaging medium and the recent advancements in podcast analytics are confirming what many have thought —it’ll be a cornerstone tactic in any relevant marketing strategy for advisors and fincos for many years to come.
Here are some of the most important podcast stats you should pay attention to.
There were 550,000 podcasts as of June 2018 There are 750,000 podcasts as of June 2019 There are over 30 million episodes as of June 2019Podcasting is here to stay. Podcasting has experienced steady growth for many years now. It’s become a safe marketing tactic and is slowly but surely taking its rightful place as a part of powerful marketing strategies.
While 750,000 podcasts and 30 million episodes are big numbers, podcasting truly is unsaturated at this point, especially financial podcasts.49% of podcast listeners tune in at home 22% of podcast listeners tune in from their car
Where people listen to podcasts is a game-changing marketing breakthrough for businesses and, specifically, financial firms and professionals. Imagine having the opportunity to talk and share ideas with your ideal audience while they are sitting in their living room, walking their dog, or cooking dinner. Your favorite client fully immersed in listening to you.Related: How to Write Social Media CTAs That People Actually Respond ToAdvisors have spent years and lots of money vying for the attention of their ideal audience. It’s never been easier. It’s never been more appropriate that the most valuable advisors with the best communication skills now have a distinct advantage over their less experienced or less comprehensive peers. You can’t fake a podcast. It’s proof that you are the expert your marketing says you are. Your podcast is proof that you get your ideal80% of podcast listeners listen to ALL or MOST of the podcast
Over 80% of podcast listeners are listening to most of the podcast. Even though they could easily turn off or move on without the social pressure that’s so evident in live seminars or webinars, podcast listeners keep listening on their terms and, for the most part, are prepared and happy to listen to most of each podcast episode. This is just one more validated reasoning that supports the podcast marketing enthusiast and their (our) push for better financial marketing.47.9% of podcast listeners also follow the podcaster on social media
I wouldn’t say this stat is surprising or earth-shattering, but it points to the power of podcasting’s dynamic nature; podcasts are perfect social content. Podcasting provides what social engagers want — rich, authentic content. Research shows that LinkedIn is by far the best place for professional-content engagement: LinkedIn users are 11 times more likely to engage professional content than users of any other social network.41.3% of podcast listeners have made a purchase as a result of a sponsored message
There is a small percentage of financial podcasters I’ve worked with that aspire to having a revenue-producing podcast. Regardless of the current podcast revenue model, it’s good to hear that sponsors are seeing podcasts’ advertising activity.
Podcast ad revenue as of 2016 was $119 million Podcast ad revenue as of 2017 was $314 million Podcast ad revenue as of 2018 was $402 million Projected to be $659 million in 2020It can’t hurt that sponsors are lining up to spend money on podcast advertising to engage these audiences. This trend certainly expands the opportunities for advisors as they build their podcast audience and expected outcomes.