The increasing popularity of streaming over traditional television and the availability of ad blocker extensions have made it harder than ever to reach your audience with paid advertising.
Enter podcast ads.
69% of podcast listeners learn about new products and services from sponsored episodes.
104 million people in the US listen to a podcast every month.
80% of listeners consume all or most of each episode.
That's incredible reach and engagement. It's statistics like those that make podcast ads a viable option for restaurants. It's the newest way to connect with hyper-engaged audiences, reach new online ordering customers, and get the word out about your restaurant.
3 Benefits to Your Restaurant of Sponsoring Podcasts
Okay, so what's the deal with podcasts? Why is advertising through them a good idea for your restaurant?
1. The Audience
Most people who listen to podcasts are old enough to make their own purchasing decisions, and over half of listeners are employed. By choosing to advertise on podcasts, you're getting your restaurant in front of people who have money to spend.
2. The Attention Span
We live in a world struggling with ad fatigue and short attention spans. But podcast listeners regularly stay tuned in to all or most of a podcast episode, which is typically 30 to 60 minutes in length. (According to Hubspot, most of their listeners finish 85% of each episode.)
With an engaged audience, your ad stands a good chance of being heard.
3. Podcast Ads are Memorable.
A study by Nielsen found that podcast ads have 4.4 times better brand recall, and 61% of listeners are likely to purchase a featured product or service.
Surprisingly, 78% of listeners said they aren't bothered by branded sponsorships because they understand that it supports the content creators!
Tips for Podcast Advertising
Is your restaurant ready to give podcast ads a try? Here's how to find the best shows for your restaurant.
1. Know Your Audience
Podcasts work like any other type of online content. Each one attracts a specific audience.
If you want your podcast sponsorship strategy to see results, you need to know who your audience is. What are your customers' demographics, interests, or hobbies?
For example, suppose you run a vegan eatery in New York City. In that case, your customers are probably listening to podcasts such as The Simply Vegan Podcast, Spilled Milk, or the award-winning The Sporkful Podcast.
2. Find Podcasts in Your Industry
The Obsessed Podcast, by Food Network, attracts hungry food fanatics!
Once you have a clear idea of the customer you want to reach, you can start looking for podcasts that attract those types of people.
In the restaurant industry, your first stop would be food podcasts. However, you'll want to drill down further to ensure you don't approach a podcast that promotes plant-based eating when you run a steakhouse.
Another niche you'll want to look at is local podcasts. If your restaurant is based in New York City, it could make sense to advertise on podcasts such as The New Yorker Radio Hour, A Taste of the Past, or Tell The Bartender. All three have an NYC audience, and advertising on any of them is a way for you to reach local listeners.
Lastly, if your restaurant offers something unique that would entice hungry travelers, advertise on travel podcasts. Foodies and regular tourists are always looking for new gastronomic experiences to add to their bucket lists.
3. Get Your Podcast Ad Budget in Order
Podcast ads aren't as expensive as you might think. Most podcasts use a standard formula to get prices for ad slots:
Cost of Sponsoring 1 Episode = (# of Downloads per Episode/1000) X CPM
What does that look like in reality?
Let's say a podcast has a CPM (cost per mille) of $30. You will pay $30 for every thousand unique downloads of the episode. For example, if a podcast episode gains 10,000 downloads, the cost to your restaurant would be $300.
The more listeners a podcast has, the more expensive it is to run ads. Beginners should consider starting by experimenting with smaller podcasts with consistently engaged audiences.
4. What Is Your Message?
Before an ad goes live, restaurant operators should decide on the purpose of the message. Are you attempting to increase online orders, promote a seasonal special, or attract new customers?
Just as when you're creating quality social media content, your podcast ad should feature effective copy and a clear call to action.
For example, you can provide listeners with a custom coupon code and direct them to your online ordering site.
If your restaurant is interested in providing online ordering as a dining option, contact a Menufy expert for more information.
Final Thoughts
Overall, podcast ads for restaurants work like any other marketing strategy.
Restaurateurs will need to know their target audience, find a platform that will reach these customers, and develop an effective message. It i's also important to prepare an advertising plan that fits your restaurant's budget.
68 million Americans listen to a podcast every week, a number that is expected to continue growing.
Your restaurant can reach this increasing pool of potential customers by implementing our podcast advertising guidelines.
If you are looking for other ways to attract more customers and increase the bottom line, follow this link to our recent blog about the subject.
ABOUT THE AUTHOR
Melissa Dimmitt, Marketing Communications Coordinator
Melissa began her digital marketing career nearly a decade ago at a restaurant group. She worked with restaurant managers and executive chefs while coordinating seasonal menu releases, executing photoshoots, and creating fresh digital content.