One of the biggest challenges that any business or corporation has to face is determining whether or not it is getting a return on investment on the money that it is spending on marketing itself.
Everyone knows that marketing is a core competency of any stable, profitable business but with there being more channels and methods of developing and distributing a message about the brand of one’s business, how can a business, CEO or a marketing team be absolutely sure that they are getting the most out of the time, money and energy that they are spending to conduct a marketing campaign.
As internet adoption grew so did the world of online display advertising. Eyeballs were migrating from print media to text published on blogs and fledgling websites so brands purchased display advertising campaigns. In the very beginning display advertising actually got the attention of users with there being a click-through rate of more than forty percent according to some sources. But as readers and online audiences became used to this particular form of advertising the value of it soon plummeted, dramatically.
While users used to click on display ads at a rate of over 40 percent today that rate is below one percent. Therefore advertisers that want to reach audiences have to find other ways to reaching out to and connecting with consumers whose attention is increasingly divided. Learn more about Norman Pattiz: https://members.nationalgeographic.com/359861042336/
One of the ways that advertisers can reach audiences who are giving their attention to new forms of content like apps, social media and streaming services is to consider placing ads on a podcast. While a podcast might not necessarily have an audience that is as large as a television show like The Big Bang what they do tend to have are loyal listeners who are giving a higher level (and read higher quality) of attention to the podcast as they have to seek it out and often download it.
That kind of attention is not the same as the attention a consumer might give to a car commercial they see while flipping channels or to a clothing ad that glance at while looking through a magazine.
Podcast executive Pattiz of PodcastOne recently partnered with a research firm to conduct studies that looked at whether or not podcasts actually provided brand lift.
The outcome of the study proved that brands can actually build relationships with consumers via podcasts and end up hitting important metrics like product awareness or propensity to buy.