Podcast listeners are likely to buy the products advertised in an audio program, according to a new study by NCSolutions (NCS).
Of listeners polled, 42% have purchased a product featured in the podcast. And among the group identified as power subscribers by NCS, 68% have done so.
Moreover, 29% of podcast listeners and 49% of the power subscribers have used a promotional code.
In addition, 34% of podcast listeners have purchased products two or more times after hearing an advertisement, while 17% have bought products they have heard featured four or more times.
"As their popularity has grown, podcasts have become a new advertising medium for CPG brands," states Lance Brothers, Chief Revenue Officer, NCSolutions.
"Podcast advertising hit a significant tipping point in 2021, with spending expected to reach $1 billion. As CPG brands look to justify further investments in the medium, they will need performance metrics that demonstrate the impact of their brands' podcast advertising on incremental sales," he adds.
That said, 33% of all listeners feel podcast advertising is “a good way for brands to reach me.” That rises to 42% among power subscribers.
In addition, 23% of all listeners and 28% of power subscribers say podcast advertising is relevant to them. And, overall, 27% say podcast advertising is enjoyable to listen to, while 26% feel they have learned about unique products they wouldn’t have discovered elsewhere.
Those totals rise to 30% and 32%, respectively, among the power subs.
Of all listeners, 88% have spent as much or more time with podcasts in 2021 as they did in 2020. And 56% of power subscribers have increased their listening. Meanwhile, 34% of listeners are new to the medium as of the start of last year.
Podcast listeners are buying in these categories:
Health & wellness—31%
"A podcast is a personal medium,” states Linda Dupree, CEO NCSolutions. “Hosts are very influential when in the ears of subscribers and partnering with a podcaster who speaks to your audience can be a very powerful strategy."
NCSolutions surveyed 2,043 consumers, 52% of whom are podcast listeners, in August 2021.