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MIDROLL’S DEFINITIVE GUIDE TO

Midroll is a Scripps Company brand.

2MIDROLL’S DEFINITIVE GUIDE TO PODCAST ADVERTISING | [email protected]

I WHY PODCASTS ARE GREAT . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3

II WHY YOU SHOULD CHOOSE PODCAST ADS . . . . . . . . . . . . . . . 5

III PODCAST ADS: EVERYTHING YOU NEED TO KNOW . . . . . . . 8 Metrics: Understanding Downloads . . . . . . . . . . . . . . . . . . . . . . . . . . . 9 Audience Demographics . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9 Pricing: Understanding CPM . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9 Midroll Advertisers Only Pay for Actual Downloads . . . . . . . . . 9 Spot Position: Understanding Pre-, Mid-, and Post-Rolls . . . . . . . 11 Pre-Roll . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 11 Mid-Roll . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 11 Post-Roll . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 11 Spot Density: We Keep It Low & Under Control . . . . . . . . . . . . . . . . 12

IV BOOKING A CAMPAIGN . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 13 Choosing Podcasts for Your Campaign . . . . . . . . . . . . . . . . . . . . . . . 13 Choosing Spot Positions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 16

V KEYS TO SUCCESS . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 17 Make the Host your Advocate . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 18 Write Great Ad Copy . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 18 Tracking . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 19 Offer Codes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 19 Custom URLs . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 19 Check-Out Survey . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 19 Testing . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 20 Defining Success: Performance Indicators . . . . . . . . . . . . . . . . 20 Evaluating Your Test . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 22 Tweak, Try and Repeat . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 22 Tweaking . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 22 Try New Shows . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 22 Repeat . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 22

VI SUMMING UP . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 23

VII FOR FIRST-TIME ADVERTISERS . . . . . . . . . . . . . . . . . . . . . . . . . . . 24 1. Direct Response Campaigns . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 25 2. Tune-In Campaigns . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 25 3. Branding . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 25

MIDROLL’S DEFINITIVE GUIDE TO PODCAST ADVERTISING


Podcasting is one of the most talked-about forms of modern entertainment, because it combines the advantages of on-demand digital media and mobile in a format that is singularly intimate.I


Podcasts are on-demand, letting listeners consume them on their own schedule, without being confined to a broadcast grid.

Listeners binge-listen. 93% of Midroll podcast listeners say they listen to most or every episode of a podcast they subscribe to.1

Edison Research says the typical podcast listener consumes on average six shows per week.2 And we expect that number to keep growing.

Podcasts are the most mobile media because shows are consumed anytime and everywhere, especially in places and during activities where text,

video, and other visual content isn’t possible.

Our listener survey shows that podcast fans listen while on public transportation (37%), in the car (51%), while exercising (32%), at work (45%), and when relaxing at home (89%).1 Edison says 64% of the podcast audience listen on a mobile device.

Podcasts foster an intimate listening experience. Most shows are consumed privately using headphones, with hosts talking directly to attentive listeners, and minimal distractions or interruptions. As a result, listeners come to know and trust their favorite hosts.

Podcast consumers are a great demographic. Podcast listeners are educated: 51% have a four-year college degree. They are affluent: 35% have household incomes over $75,000, and 52% of persons with a household income over $100,000 have listened to a podcast. And the podcast audience is gender balanced.3

The podcast audience is large and still growing. According to Edison Research’s 2015 Share of Ear survey, 46 million Americans listened to a podcast in the last month, a 15% increase over 2014.

1 Midroll Media 2014 survey of 279,864 podcast listeners, http://awesome.midroll.com2 “The Infinite Dial 2105,” Edison Research, http://www.edisonresearch.com/the-infinite-dial-2015/3 “The Podcast Consumer 2015,” Edison Research, http://www.edisonresearch.com/the-podcast-consumer-2015/


Great hosts make great reads. Instead of getting a typical 30-second pre-recorded audio spot, podcast listeners hear unique, live ad reads made personal by their favorite trusted hosts. II


Podcast ads are native, integrated seamlessly into the show. Great hosts create ad reads that are entertaining and engaging, making the spots part of the podcast, not a break.

Listeners pay attention to podcast ads. They don’t skip ads, because they don’t want to miss out on any part of the show. Fans often cite ad reads as some of their favorite moments. By comparison, when an ad comes on the radio, listeners jab at the preset button to change stations. Podcast listeners are opt-in; they intend to listen to the whole show.

Listeners trust their favorite hosts. They develop relationships with podcast personalities over the course of dozens of hours of intimate listening time. Listeners maintain those relationships because they trust the people they listen to every week.

Podcast ads are endorsements. When a host presents your product or service, she is leveraging the trust that she has cultivated with her listener over time, and applying it to your brand or service. That’s why Midroll encourages hosts to only read ads for brands and products they believe in and can endorse sincerely.

Listeners buy products from podcast ads. An amazing 63% of Midroll podcast listeners have bought a product they heard advertised on a podcast.1

Midroll advertisers report success using podcast ads:

“We’ve seen two to three times the engagement in podcasts, than we’ve seen in radio” –Henry Hwong, Sling Media

89% of Midroll advertisers consider their podcast ad campaigns in the previous 12 months to be a success.

”We have positive ROI from our podcast sponsorships” –Greg Scown, Smile Software

91% of Midroll advertisers say podcast advertising offers good value.

“Podcasts were our number one marketing channel” –Herb Jones, Fracture

100% of Midroll advertisers would recommend podcast advertising to a colleague.4

4 Midroll Media 2015 Advertiser Satisfaction Survey, http://wow.midroll.com


Podcasts listeners are a highly dedicated, engaged audience.

Just by being a podcast listener, you’re someone who cares enough to tune in on a regular basis.

You’re more likely to be an informed resource for your colleagues or friends, podcasts attract people who are much more passionate, an influencer.

Marko SavicIGLOO SOFTWARE


Podcast advertising isn’t complicated, though it differs from typical radio and display advertising in important ways. This section will give you everything you need to know about podcast ads.III


Metrics: Understanding Downloads The most important metric in podcasting is the download, which is equivalent to a cumulative rating (“cume”) in radio or television. It’s also easy to understand–it’s how many times an episode of a podcast was downloaded.

Downloads are not statistical estimates. Unlike audience ratings, every responsible podcast producer and agency knows exactly how many times an episode was downloaded.

Midroll maintains the integrity of this measurement by working only with podcast hosting and measurement services that use industry standard methods to ensure the accuracy of their reports.

Audience Demographics Midroll leads the industry in surveying the listeners of our 200+ shows to give advertisers not just download numbers, but specific demographic data for every podcast. We know how audiences break down by age, gender, education, and household income. We also ask about buying habits, allowing us to match advertisers to shows with listeners who spend on categories like nutritional supplements, home entertainment, or even gluten-free foods.

All our demographic data is available to advertisers in our industry-first web app, where you can search for shows by demographic datapoints, or view overall audience data. Get a taste of this information in our visual white paper: http://awesome.midroll.com

91% of Midroll advertisers think our listener demographic data is useful for targeting.4

We’re always happy to help you use this data to find the shows that best fit your campaign objectives.

Pricing: Understanding CPM All Midroll podcast ads are priced on a cost-per-thousand downloads model, or CPM. For instance, with a $25 CPM, a spot on a show with 10,000 downloads per episode costs $250; with 100,000 downloads, it’s $2500.

Midroll Advertisers Only Pay for Actual Downloads Because you’re buying ads in advance, we use download forecasts that are based upon the show’s recent performance. We strive to keep our forecast accurate and are conservative about raising forecasts.

If, after your ad runs, it turns out that the actual number of downloads for that episode is higher than the forecasted quote, you still pay that original quoted price. In the extremely rare circumstance that a show under-delivers on downloads, we’ll make it right.

Our forecasts are guarantees. We believe that your podcast ad network should bear all responsibility for the accuracy of forecasts, not you—and you shouldn’t accept any other arrangement.

4 Midroll Media 2015 Advertiser Satisfaction Survey, http://wow.midroll.com

$

http://awesome.midroll.com


The one thing we have over radio is real numbers.

Marc MaronWTF WITH MARC MARON


Spot Position: Understanding Pre-, Mid-, and Post-Rolls Simply put, you choose where in the show you want your ad to run: at the beginning, the middle, or the end. That determines what CPM you pay. Each position has distinct advantages.

PRE-ROLLThis is an ad that runs at the very start of a show, typically just before or just after the episode’s intro. It’s a shorter read (20 to 30 seconds), but most listeners will hear it because they’re disinclined to skip forward, for fear of missing content.

Pre-Roll Advantage: Most listeners hear it and don’t skip; lower cost than mid-rolls.

MID-ROLL This is an ad that runs in the middle of the program, once the primary content has started. These ads run longer than pre- and post-rolls (a minimum of 60 seconds), and hosts are more likely to integrate them directly into the flow of the show, injecting them with a little more creativity and spark. Consequently, this is the highest-priced spot position.

Mid-Roll Advantage: The longest available spots—two to three times longer than the other positions; best show integration.

POST-ROLLThis is an ad that runs at the end of the show, usually between the last content segment and any closing material. Post-rolls are typically shorter than mid-rolls, and usually cost a bit less than pre-rolls. They are often purchased in combination with a pre-roll or post-roll spot in the same show to help reinforce a message introduced earlier in the episode, like an offer code or vanity URL.

Post-Roll Advantage: Reaches the most dedicated listeners; most affordable spots; reinforces pre- or mid-roll spots.

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Whenever buying podcast ads, it’s vital to know the spot density: how many ads of each type there will be for each hour of the show. A low spot density is a particular strength of podcasting, especially compared to radio. Most podcasts will have no more than four or five spots in an hour, while radio averages 9 minutes of commercials an hour,5 containing between 9 and 18 different spots.

Podcasting’s low spot density keeps your ad reads from getting lost in a sea of other ads. Instead, they stand out. We also make sure that your ad doesn’t run in the same episode

as a competitor’s. We’d hate that to happen to us, and we don’t want it to happen to you.

Better still: Our hosts won’t encourage their listeners to drink Coke one week and Pepsi the next. We’ll take care of the separation, since it benefits everyone involved.

“The people who listen to podcasts tend to be passionate and have an abiding attachment to what they listen to. The opportunity for brand awareness is tremendous.” -Lain Shakespeare, MailChimp

Midroll Guarantees Your Spot PositionUnlike some of our competitors, Midroll guarantees spot placement in advance: You choose exactly which ad positions you want on which episodes, and you know exactly where and when your ad will run.

5 2011 Coleman / Arbitron study of PPM markets

Spot Density: We Keep It Low & Under Control


Choosing Podcasts for Your Campaign There are many different reasons to pick a particular podcast, from its demographics and download numbers to affinity for the host and love of the show. IV


At Midroll it’s our job to help you pick the best shows for your campaign goals, and to help you make the most of your ads. We’re in a great position to do that because we have an inventory of over 200 podcasts in sixteen categories, with audiences ranging from 5,000 to 500,000 downloads. We also know what shows and podcast categories have worked well in the past for a wide array of brand and product categories.

90% of Midroll advertisers say they are satisfied with our selection of podcasts.

This is one of the big advantages of working with an ad network that specializes in podcasts and also has a sizable, but carefully curated lineup. Each of Midroll’s shows was chosen thoughtfully based on quality, audience, and category–we don’t simply contract with hundreds of shows in

order to stuff our roster. We only want to offer podcasts that are already proven, or that show great potential for our advertisers.

PRO TIP:It’s wise not to adhere too strictly to category. Don’t assume that comedy audiences aren’t also entrepreneurs,

or that listeners to a sports podcast aren’t interested in a comedy special. You may be surprised at how broad and eclectic audience tastes and needs are.

Business-focused Stamps.com has seen years of success advertising on the comedic WTF with Marc Maron podcast. Legal Zoom has seen similar success on the sports comedy show Sklarbro Country.

A podcast’s genre or category is often one of the deciding factors. A product for small business owners is a natural fit for a business and entrepreneurism show, while a streaming comedy special meshes well with a comedy podcast.


Podcast advertising works for us, and Midroll helps us maximize our return on investment. They help us find great podcasts for our campaigns and make our ads work.

Ilyas FrenkelSQUARESPACE


Choosing Spot Positions An important consideration for choosing your spot position is the nature of your message: How much information do you need to convey to the listener, and how much explanation is necessary?

For instance, a tune-in campaign for a new feature film may not require more than a couple of lines of copy outlining the name, a quick plot synopsis, the top-line stars, and when it arrives in theaters. A pre-roll or post-roll spot can provide enough time to do it justice.

Perhaps you have a new product that requires a little more explanation of its unique features and benefits. A mid-roll spot is ideal, not only because they tend to be longer, but also because at that point listeners have settled in and are ready to take in a longer discussion.

Your choice of spot may be dictated by budget. Both pre- and post-rolls each cost less than a mid-roll. However, a pre-roll, or especially a post-roll, is often most effective when paired

with another spot on the show, raising your cost. So, in terms of exposure, a single mid-roll may be the best bang for your buck.

That said, if you need to economize with a lower CPM, then the pre-roll is probably your best bet.

PRO TIP:It’s very common for advertisers to mix and match spot positions, too. Bonobos often runs a full, 60-second mid-roll ad

their first week on a show, then works to keep their messaging top of mind with a few weeks of pre-rolls. Since they know listeners typically listen to nearly every episode, Bonobos can rely on intermittent mid-roll spots to give listeners the full message, with lower cost pre-rolls in between as reminders.


Because we at Midroll focus exclusively on podcasts we’ve learned what contributes to a campaign’s success. Keeping in mind that every campaign is different and that every show is unique, we have road-tested tips and advice that apply to nearly every advertiser.V


Make the Host Your Advocate The podcast host is your advocate, ambassador, and endorser. You want the host to know and understand your product well, so that she’s invested in your success.

Often, our hosts are able to try out your product or service before a campaign begins. That’s not always possible, and we can’t guarantee it, but frankly our hosts love being able to speak from personal experience.

If a product trial is not possible or practical, do be sure to provide clear product information. Personalize this information, making sure hosts know what the most important features, benefits, and messages are. Sometimes we can arrange a conversation with the host to make sure all questions are answered. In any case, Midroll’s sales staff and artist care experts will work with you to tailor materials and make sure hosts get what they need.

Write Great Ad Copy Copy is where the rubber meets the road. It’s also the map the hosts will use to create their unique ad read, tailored to your campaign.

Keep in mind that podcast ad reads are not like typical radio commercials. (And that’s why we like them, right?) Many hosts don’t read ads verbatim, but rather use your key message points as a launching pad to tell their listeners about your product or brand in their own particular style.

“When the podcast hosts give a little personal anecdote or story, that really helps to drive traffic.” -Yev Pusin, Backblaze

We like to provide hosts with either traditional ad copy or bullet points that address your key messages. In general, we prefer bullet points so that the host can make the spot his or her own, but if you need to tightly control your message a full script is fine.

Copy should be clearly written and easy to read aloud–this also applies to your bullet points. Test it by reading it aloud and asking others to read it aloud too. Sentences should be short and simple, not long and full of dependent clauses. If your product or brand name has a unique, foreign, or non-standard spelling or pronunciation, then provide a pronunciation guide.

“You’re not pitching 150 words. You’re tellinga story…” -Marko Savic, Igloo Software

While it’s important to give your copy due attention, don’t stress out. Your Midroll sales representative will help you with your copy and bullet points. We’ve done this hundreds of times before, and we’re invested in your success. After you’ve written some successful ad copy, you’ll be an expert too.


OFFER CODES These are a unique word or phrase that a customer enters during the checkout process in order to get a bonus or discount. We recommend using a different code for each show, and making it easy for the listener to remember by relating it to the show itself. For instance, advertisers on WTF with Marc Maron will often use the code “wtf,” while advertisers on EOFire use “fire.”

It’s beneficial to have an attractive offer attached to the code in order to give listeners an incentive to remember and take advantage of it—a discount, free shipping, and so on. Note, however, that if your pricing is already so low that further discounts aren’t an option, that’s no problem: With the right copy, we can still make sure listeners remember to use the trackable URL most of the time.

“The great thing about podcasts is that we know exactly when the ads are running, and so we know when to expect certain traffic–any codes that we use are trackable, [then] we match them to the podcast.” -Bryan DeLuca, Foot Cardigan

CUSTOM URLS A custom URL has the benefit of being one fewer thing for the listener to remember. Often, advertisers with vanity URLs have those custom links trigger a discount, just as an offer code would.

Each URL should be exclusive to one show, so that you know which podcast generated the hit. For instance, our main URL is Midroll.com. But when we run our own ads on Comedy Bang Bang, we use the custom URL midroll.com/bangbang.

Generally speaking, custom URLs that aren’t paired to some incentive are less effective for tracking than those that offer a discount or bonus.

PRO TIP:With custom URLs it’s also a good practice to create custom landing pages based on the show you used to acquire

a customer. Changing copy to say, for example, “Welcome Comedy Bang Bang listeners” helps make fans feel special, like they’re getting something exclusive, and that’s not available to people who don’t listen to that show.

CHECK-OUT SURVEY This method can be used on its own or in tandem with custom URLs or offer codes. It’s basically a question that you ask a customer when they complete a purchase: Where did you hear about our brand/product/service? It can be a good idea to provide them with options that include the podcasts on which you’re advertising.

Podcast listeners understand that advertisers keep their podcasts free and on the air, and so are willing to both support advertisers and make sure advertisers know where they heard about a product or brand. They’ll take the extra minute to answer that question to help out their favorite hosts.

If you use check-out surveys alone, make sure to include this in your ad reads. Ask hosts to say something like, “And be sure to tell (advertiser) you heard about it on my podcast.” Listeners are more likely to take the cue when prompted by their favorite hosts.

“Podcasts were a surprisingly big winner in (our) post-order survey,” -Herb Jones, Fracture.

Tracking Direct response advertisers are often curious about whether they can use a tracking mechanism to help evaluate the effectiveness of their campaigns. The answer is a definitive “yes.” Three of the most common and useful methods are offer codes, custom URLs, and check-out referrals.


The best way to know if your campaign is working and meeting your objectives is to do a test. At Midroll we’re ready to support you in testing your campaign, and we won’t pressure you to make a long-term commitment before you’re ready.

In general, a test should run at least several episodes, with a minimum of one spot per episode. Longer tests that run for weeks or months will provide you with more consistent data that helps you correct for unrelated dips or bursts in activity.

It’s good to test more than one show at a time. This approach gives you more information about how your messaging is working, and will

also let you directly compare the performance of multiple shows against one another.

One piece of advice we always stress is that repetition is key. One

spot, one time, on one show simply won’t generate the results you’re after. Test as many shows as your budget allows, but aim to book at least three spots per show. Give the listeners reminders; use that repetition to make sure they remember the offer, the URL, and why they should go buy!

To define success and best evaluate your test, it’s important to know what your performance indicators and desired outcomes are.

Are you driving traffic to your website? Are you looking to boost sales? Are you trying to increase awareness of your brand? Do you measure that awareness on social media?

Your indicators will probably be some mix of these and others, but likely will vary based upon your campaign type.

If you’re selling a product or service, it’s useful to have a picture of what your sales funnel looks like. While the desired end result is more sales, it helps to know how many impressions, how many website visits, and how much contact with the prospective customer (if any) it usually requires to go from first exposure to the final sale.

Website and landing-page traffic is another important indicator, as it demonstrates interest in your company and product. An increase in social media discussion and overall brand awareness are desirable outcomes, to be sure, but they may not be your most important indicators.

Increases in social mentions and discussions are strong indicators of branding campaign success. It may be difficult to directly attribute all mentions to your podcast campaign, since not every tweet or Facebook post will necessarily say, “I heard about it on Podcast X!” Rather, you should look for an overall increase in mentions during the time that your campaign runs, adding a few weeks after the spots end to account for listeners who don’t listen to episodes right when they’re released.

“We are seeing a good return on investment and brand recognition.”-Candid Response to Midroll’s Advertiser Satisfaction Survey.

Website and landing-page visits are another good indicator. Again, look for increases during your campaign period, plus a few weeks. Even if you use a custom landing page you should look at overall site traffic, since listeners may only remember your main domain’s URL or use Google to find your site, neither of which is directly trackable.

These campaigns can be the most challenging to test, especially for content like television shows and movies, which have no online tracking. Still, indicators like website traffic and social mentions are useful in letting you know if the spots have been heard and sparked listener interest.

Testing

Defining Success: Performance Indicators

“Ideally, find a host/show which you feel is a good fit and commit for a year. Gather data on how your customers found you, and run the numbers at around month nine when you’re determining whether or not to renew.” -Greg Scown, Smile Software


Podcast ads are the #1 generator of social engagement.

CANDID RESPONSE TO MIDROLL’SADVERTISER SATISFACTION SURVEY


Evaluating Your Test Once your test is completed and you’ve allowed a few weeks for delayed listens, take a look at the data gathered during the entire period. Of course, you’re looking for a net positive change, though pay attention as well to qualitative factors, especially in social media: Has the nature of the conversation around your brand changed? What’s the profile of the people in those conversations? Are they influencers?

Be sure to listen to the actual ad reads. Midroll advertisers can hear these via our web app. Are you happy with the reads in general? Does it sound like hosts are clear on your copy and your objectives?

Like all business strategies, podcast ad campaigns may take more than one try in order to hit on the right combination of shows, spot position, and messaging. Often the best follow-up to a test is another test.

Tweak, Try, and Repeat Running successful podcast ad campaigns requires experimentation and adjustment. And just like a good science experiment, repetition is vital: Edison didn’t create a working light bulb the day he got the idea, so your campaign may need a couple of trials before you find the right groove.

TWEAKING A SHOWIf you’re getting some results from a show, but are hoping for more, take a look at your copy and listen to the actual host reads. Perhaps your message could be clearer, or maybe your offer needs to be better or more prominent. Also consider trying a different spot position.

Don’t forget that listeners need to hear a message multiple times before they’re motivated to act. So don’t rush to change things right after your first spot airs. And remember that podcast listening is often “DVR’d”—some listeners will check out the new episode with your ad right away, but others might wait a week or more.

TRY NEW SHOWS Sometimes, despite our best assessment, a particular audience or show just isn’t the right fit for your campaign. But that doesn’t mean podcast ads won’t work for you.

Give it a shot with new shows, even ones that have a different size listenership or different demographics than the previous ones.

Also, if you saw performance, but not as much as you would like, don’t be afraid to try a show again at a later date. It may turn out that listeners need a little more time to think about your product or service, and having a reminder several weeks later might create that tipping point.

REPEATWe said it in the testing section, but it’s important to say it again: The best success with podcast ad campaigns comes from repetition. And it’s not just about repeating the same thing over and over, but about testing, tweaking, and then repeating with those changes in place.

We understand that every advertising campaign is an investment and a risk, and we want that to pay off for every advertiser. But every platform, including podcasts, has its particular features and qualities that take a little time to adapt and adjust to. Whether it’s

display, radio, television, or podcasting, success comes from more than one ad and more than one campaign. It’s part science and part art.

Take this into account when budgeting for your campaign. It might be wise to spread your spend over more than one quarter to allow more time for testing. You may also need to spend a little more in order to conduct tests that give reliable results. Our experience shows that time and money invested in testing, tweaking, and repeating tends to pay off in the long run with better results.

“The overall podcast budget is no longer in testing phase.We have a baseline where I feel like I can spend profitably.

I have some shows that I feel really confident in, and then I’m testing around that core.” -Kate Huyett, Bombas Socks


We hope this guide has been a valuable introduction to podcast advertising. While we’ve tried to include plenty of practical and actionable advice, we also must stress that the best podcast campaign successes happen when you have an experienced and knowledgeable partner by your side.

We at Midroll want to be that partner, helping you make smart choices for your campaign. We know that every advertiser, product, and brand is unique, just like every podcaster. Our job is to help match you with the right shows, then create the best campaign.

100% of Midroll advertisers surveyed say they would recommend us to a colleague.

But we won’t leave you after the first date. We’ll keep working with you to make adjustments, small and large, until we hit on the right formula for your company, together.

“If anything, (Midroll is) more on top of it than we are… When I ask for pricing I just get it. When I let them know what my budget is, I get things within my budget. It’s just a very straightforward experience and not overly salesy.” -Mike McAdams, Drinkwel

VI


Podcast Campaigns: 3 Major Types Podcasts can be used to advertise anything you can think of. In general, however, the vast majority of campaigns break down into three common types, based upon the advertiser’s goals. Think of these goals as what an advertiser wants a listener to do: buy something, watch something, or know and remember something.VII


While many campaigns will fall into one of these types, some are a hybrid, combining two or more approaches and goals. Consider these types a frame for thinking about your campaign, not as strict categories.

Don’t be concerned if you’re not sure what kind of campaign is best suited to your needs.

Midroll’s sales staff will help you define your objectives and then design the right campaign.

1. DIRECT RESPONSE CAMPAIGNSDirect response advertisers want listeners to go and buy something in response to hearing their ads. These companies were pioneers in podcast advertising, and their early successes helped prove the model. If you hear an ad promoting a product and then providing a way to buy, often accompanied by a coupon code, that’s a direct response campaign. Many advertisers use a unique offer code or website URL for each show they run spots on, so that they can measure which purchases resulted from which ads.

2. TUNE-IN CAMPAIGNSA tune-in campaign asks listeners to watch or listen to some other content or channel. This might be a television show, a theatrical release, an online video, a song or album, or even another podcast. These are usually more difficult to measure than direct response, since the advertised content or ticket purchase may not be online. However, advertisers promoting online content can use direct response tactics like offer codes and custom URLs to to provide additional conversion tracking.

3. BRANDING Think about a commercial you’ve seen or heard for Coke, Ford, or Progressive Insurance. While these ads may discuss the qualities and benefits of these products, they usually don’t come right out and ask you to buy. Those are branding campaigns, focused on building awareness of the products and brand.

Obviously the desired outcome is that consumers will buy those products, but these advertisers are also aware that a purchase may come hours, days, weeks, or months after an ad runs. The goal is that when customers decide they want a refreshing beverage, the first thing that springs to mind is a Coke, or that when they decide to buy a truck, Ford will be on the list.

Historically brand advertisers have preferred media with very large aggregate audiences in the millions. However, as podcast listenership has grown — and as ad-skipping and ad-blocking has become more prevalent across TV and the Internet—advertisers are trying and finding tremendous success with podcast branding campaigns.

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