Podsights has revealed new insights into the effectiveness of advertising in podcasts, tracking global and Australian podcast advertising trends.
This is the first Australian report to be published since ARN partnered with Podsights to set the standard for best-in-class podcast advertising measurement. The report includes additional analysis and follows a series of Measurement Masterclasses held for agencies, dispelling the myth that podcasts can’t be measured.
The report includes data gathered from July 2020 to June 2021.
Key findings from the benchmark report and additional analysis include:
- iHeartPodcasts have an average conversion rate of 1.91 per cent – higher than the global benchmark of 1.58 per cent
- When breaking down global conversion rates by industry, Restaurants and Retail categories experienced the strongest attribution results.
- Globally, the average conversion rate rises with the number of spot placements within an episode.
- The highest conversion rates came from full buyouts of episodes. For individual podcast ad impressions, pre-roll placements slightly outperformed mid-rolls.
Other key findings of the report include the fact that the conversion rate of podcast advertising is on par, or outperforms, other digital channels. While podcasting is a slightly more expensive channel, it yields both higher results and higher return on adspend, according to the research. It found that website visitors that make a purchase after being exposed to a podcast do so at a higher rate than the general website visitor.
Podcast advertising conversion rates were 1.58 per cent, compared to Google Search at 1.55 per cent, Facebook Feed at 1.11 per cent, TikTok at 0.97 per cent, Twitter at 0.86 per cent and Google Display at 0.47 per cent.
According to the report, this is because listeners have to type in a URL, rather than just clicking through a link. This shows higher intent to purchase.
The report findings allow ARN to provide commercial partners best in class, data led guidance to ensure maximum engagement and conversion when brands connect with iHeartPodcast Network’s audiences.
ARN’s head of digital audio Corey Layton said, “through our Podsights partnership, we give our clients the ability to monitor and measure the effectiveness of their campaign in real-time using best in class technology.”
“This report demonstrates the impact of podcasts for advertisers – with a conversion rate equal to or better than other digital and social platforms. ARN is setting the standard for podcast measurement in Australia. This, combined with iHeartPodcast Network’s diverse and ever-expanding content, is why our commercial offering for brands is industry-leading.”
Director of partnerships at Podsights Matthew Drengler said, “This report demonstrates that podcast reporting now matches brand expectations of any and all digital channels. Our digital reporting and attribution capabilities enable advertisers to track their return on investment, elevating the offering across the iHeartPodcast Network to ensure every campaign achieves the desired outcomes.”
Featured Image: iStock
