In 2022, the number of podcast listeners reached a staggering 464.7 million listeners globally and is expected to grow to 504.9 million by the end of 2024. Podcasts have become embedded into our daily habits and the audience continues to grow.
This “podcast mania” has encouraged businesses and brands to make it an important aspect of their marketing strategy. And why not? It offers a new way to get to their target audience, whenever and wherever.
A podcast should be thought of as a “laboratory” for innovative ideas—a new way to interact with internal and external stakeholders and business prospects in a different way than with more traditional media channels. That is in part because they are highly engaging.
Because of their nature and format, podcasts afford executives more time to present and develop a storytelling angle, with an engaging tone and compelling authenticity, in more depth. This can give the business prospect a more intimate glimpse into the behind the scenes of a business than a written article, for example (unless it’s a feature).
The podcast market has become very competitive. As the market size value reached $23.75 billion in the United States alone, podcast platforms are working to attract more listeners with celebrity guests and hosts.
A podcast does not require undivided attention, unlike a written article or broadcast news. This is the main advantage of the podcast—it is extremely accessible.
Less resource-intensive than other media channels
Writing and placing high-quality content in the media requires significantly more time and effort because one published, it is “set in stone”. Podcasts are conversational and allow time for clarification and contextualizing. Broadcast media can also require significant resources. Podcasts are a much less resource-intensive communication channel. All one needs is a computer, a microphone, and a compelling opinion.
That is not to say that anyone can simply speak into the microphone to create an interesting podcast people will listen to. Some preparation for podcast opportunities is required and unlike written statements— there are do’s and don’ts that need to be practiced.
A channel that keeps your attention
According to a French study led by Ifop (Institut d’Etudes Opinion et Marketing en France), “listening to a podcast is like entering a bubble, a moment to yourself” for 71% of listeners. The voice offers new opportunities for interaction.
Laughter, intonation, and even mispronunciations enhance the level of audience engagement. If emotionally charged, it captures attention much more easily. This is what strengthens the connection between the presenter and the listeners which in turn shapes perception and inspires creating relationships beyond the podcast.
In an increasingly connected world, podcasts can offer an escape from the time spent in front of a screen. Podcasts remain an innovative proposal for communicating key messages, in an intimate setting of a listener’s kitchen, car or on their run. Podcasts offer an unparalleled communication opportunity for companies that want to create and foster deep and meaningful relationships with their audiences.