Brands that produce podcasts are happy with the outcome. A survey released by CoHost finds nine in ten marketers say they’re satisfied with their show’s performance — and that’s helping to keep them in the format. Among the brands surveyed, just 8% are cutting back on branded podcast spending this year vs. 2023.
In contrast, 10% say they’re increasing podcast budgets, and another 24% plan to hold the line with what they invested in podcasting a year ago.
“It’s clear there is continued confidence in the medium’s value,” the report says. Only two of the 50 brands surveyed say they have decided not to move forward with their branded podcast. “These findings reinforce the positive value and impact that brands are experiencing from podcasts,” it adds.
Of the brands surveyed, about half are allocating significant resources to their podcasts, with budgets exceeding $30,000 annually. And nine brands (18%) spend more than $100,000. The results show the largest companies — those with more than a thousand employees — typically invest more than $100,000 on their branded podcast. But the report says there is still a “healthy investment” from mid-sized companies, those with 200 to 1,000 employees.
“This signals that mid-sized companies also recognize the value of podcasts,” says the report, which was produced by CoHost, a podcast analytics and audience insights platform for brands and agencies, in partnership with Sounds Profitable.
Of the brands surveyed, the main challenge cited is the large investment of resources — time and personnel — to produce a branded podcast. It is likely a factor in why the survey shows two-thirds of the companies surveyed use outside production agencies or freelancers to produce their show. More than half (58%) said that was their biggest challenge.
The second biggest hurdle is audience growth, mentioned by 52%, while 42% cited the cost of producing a branded series, and a third pointed to the difficulty in integrating a podcast into their other marketing activities.
“Those abandoning the medium cite difficulties proving podcast ROI to higher-ups and internal restructuring of the responsible departments,” the report says. “Podcast analytics tools are improving to help marketers justify podcast ROI, however, there’s still a gap in the market.”
Nevertheless, the benefits outweigh the challenges for most. CoHost says seven in ten (72%) of the surveyed brands cite thought leadership and lead generation as the most valuable outcomes of their podcasting efforts. It calls that an “unexpected benefit” and says in the past the podcast was seen playing a role in brand positioning, thought leadership and expanding reach.
“Brands can leverage podcasts for multiple objectives and create impact not just on audience engagement and brand growth, but on business development as well,” the report says.
To reach listeners, 46 of surveyed brands use social media as the primary channel to engage with podcast listeners, while 36 incorporate their podcast on their websites, and 32 use newsletters.
Download the Impact of Branded Podcasts Report HERE.
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