Podcast advertising is one of the latest trends in the field of advertising. For finance brands, who often struggle to articulate their potentially complex products to a new audience, podcast presents an advantage in an advertising campaign.  Podcasts have been around for more than a decade. But it is only in recent years that the financial and logistical infrastructure that supports podcasting as a business has been introduced.

Many factors contribute to the emergence of podcasts as an increasingly attractive medium for marketers deploying digital advertising. Podcast advertising appears to be extremely effective, particularly in comparison to more traditional forms of advertising. According to a report undertaken by Nielsen in 2018, podcasts generate around four times better brand recall compared to digital display ads. The same report also found that 10% more listeners are likely to buy after hearing podcast ads compared to traditional advertising. A further study by advertising research company WARC also found that 78% of listeners don’t mind podcast advertising because they understand it supports free content. This positive sentiment combined with advertising effectiveness has seen the popularity of podcast advertising soar, with a survey by digital audio advertising platform DAX finding that 85% of its respondents were increasing them spend in 2019.  This makes the finance industry the second largest podcast advertising spender, only behind direct-to-consumer retail advertisers.  The stats above suggest podcast advertising is growing in popularity and therefore proving effective for finance brands.

Consumers are reading less and listening more, driving enormous growth of video and audio content consumed on mobile devices. As people seek more self-help tools, financial marketers can't ignore the power of podcasts. Banks and financial institutions should develop podcasts as part of their content marketing strategy.

Podcasts are a highly targeted audience-driven medium unlike traditional or even other digital audio forms of advertising. The growth of investment in podcast advertising by finance brands over the last couple of years suggests that this form of advertising can yield results. With critical audience targeting, trust and measurability all readily available, it may be time to consider broadening your marketing mix. A trusted, targeted and measurable advertising medium that delivers your message in a relevant context – podcast advertising is certainly worth considering.

Podcasts tend to be highly engaging mediums for delivering messages. Given the audio nature of podcasts, listeners tend to hang on to every word, making them an excellent audience for advertisers who are trying to get their brands known. Podcasting is a great way to promote your brand and products and brands prefer it as it has an edge over traditional methods of advertising

 Source- OMNES Editor