Seventy percent of frequent podcast listeners considered buying a new product or service after hearing about it on a podcast, according to a study from Edison Research and the PodcastOne, “Super Listeners Study.”
As podcast usage continues to rise, it’s important for marketers to know who they’re speaking to when advertising on podcasts. Here we’re breaking down the preferences of these super listeners and how podcasts influence these consumers’ buying behavior, according to the study’s findings.
Many podcasters are also cord-cutters as 79 percent of respondents regularly use streaming video services, followed by 63 percent who use internet-only music streaming services and 58 percent who use cable or satellite television. Forty-five percent of respondents said it’s very important that they watch or listen to a program whenever they want. Forty-nine percent said they have a paid subscription to an internet-only music streaming service, followed by 27 percent who have a paid subscription to an audiobook service. When asked what their primary reason is for having a paid audio listening subscription, 43 percent cited having more control over the content they’re listening to.
Podcast listeners are more attentive to ads heard on podcasts as 44 percent agree that they pay more attention to advertising on podcasts than on other forms of media. Thirty-seven percent said that podcast marketing is the best way for a brand to reach them. Although these super listeners generally avoid ads, they agree that podcast ads are an effective way to reach them.
In June, the Interactive Advertising Bureau (IAB) predicted that US podcast marketplace revenues will double by 2021, reaching $1 billion. While the number of people listening to podcasts as well as podcast marketing dollars are increasing, marketers should be selective about the podcast to advertise on. Only 16 percent of respondents strongly agree that the products and services they learn about on podcasts are generally relevant to them—that’s one percent less than for social media, which 17 percent said display products and services relevant to them.
The advantage of podcasts is that listeners are more willing to consider products discovered there. Compared to other places where they might hear ads, 46 percent of respondents said they’re more likely to purchase a product after hearing about it via a podcast ad.
Findings are based on 1,032 online interviews conducted in February and March 2019, consisting of 56 percent men and 44 percent women, spanning all generations. All respondents reported listening to podcasts for at least five hours weekly.
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