Kym Treasure, Audacia Audio, Singapore ,Raven Lim, MeaVox Live, Singapore, Timi Siytangco, Key. Account Director Sales, Acast Singapore
Three representatives from successful audio advertising organizations discuss podcast monetization and how people make money on Radioday Asia’s second day.
How can podcasts make money besides revenue?
Raven Lim shared that ASEAN government bodies, organizations, and, companies are looking to start podcasting but are unsure where to start. Since there are success stories of podcasts reaching PMETs (professionals, managers, executives and technicians), advertisers are looking to connect with this valuable audience. Audio advertising companies should educate themselves on providing a gateway for this audience to connect, such as training programs for companies to get guided expertise.
How do you track a podcast’s advertisement success?
Timi Siytangco shared that Acast tracks their impact on natural business outcome. Impressions cannot solely be relied on. Rather, it is how the message impacts your brand and drives purchase. These results make it easier for the podcast team to ask for more budget and reinvestment. Kym Treasure from Audacio Audios, mentioned the importance of tracking pixels on landing and thank you pages. This helps track the advertisement exposure alongisde coded check-outs, where listeners use the code promoted in the podcast. This is proof that the podcast advertisement redirected listeners to purchase.
How can industries move away from podcast being viewed as ‘just tests’?
Podcasts have existed for 20 years but is still viewed as another marketing technique for companies to ‘dip their toes into’. Kym Treasure explained that radio is still king in many countries, especially in Australia. Raven Lim explained that companies must educate themselves regarding the budgeting behind podcasts and how to measure its KPIs. Research will find that podcasts have higher follow-through rates. Thus, audio advertising companies must assist clients in setting realistic expectations and help them understand that podcast has shifted from being an audio show to becoming a brand.
How do brands choose which podcast to advertise on?
“I love the diversity of briefs,” Kym Treasure mentioned how each brief has a specific target audience. Timi Siytangco also commented that brands must first understand the audience and look at the context. These pinpoints which shows are contextually relevant. For example, hosts with similar guests which fit the audience profile.
How much do podcast hosts earn from advertisements and how is it charged?
In Acast, the podcast is promoted and the revenue is shared with the hosts. As for advertisements, Timi Siytangco mentioned, Acast allows their podcasters to accept or reject certain sponsorships. This affects the number of advertisements aired. For independent podcasters, their content is more nimble and more community-driven. Community events gain podcasters money from tickets and sponsorships.
Are advertisers picky about featuring on a podcast and its niche?
Not all brands are suitable for all podcasts, Kym Treasure emphasized this is especially true for true crime. On the other hand, Timi Siytangco also highlighted that some brands take advantage of true crime’s rising popularity and do not worry as much regarding its content.