How to build a profitable podcast.
The Science of CBD Success: Podcasting ROI Measurement Uncovered!
Let's welcome our guest writer Robert Surdel
You're in the thick of CBD marketing, hunting for fresh tactics to elevate your brand. Ever thought of podcasting?
Podcast ad spending might hit $3.53 billion by 2026, making it a potential goldmine for your CBD brand.
Picture a popular podcast host endorsing your product, reaching a dedicated audience. It's time to tap into the power of podcasting and measure your success.
So, let's delve into the world of podcasting ROI for CBD brands.
The popularity and reach of podcasts have skyrocketed in recent years, becoming an influential medium for reaching a diverse and engaged audience. That's why they're such a powerful tool for CBD brands.
Podcasts offer an intimate connection with listeners that other mediums can't match. Coupled with the trust listeners place in their favorite hosts, you've got a recipe for an effective advertising platform and potential podcasting ROI for CBD Brands.
And let's not forget, podcasts are accessible anywhere, anytime, making them a convenient choice for today's busy consumers.
While there's a wide variety of advertising platforms available, none seem to offer the unique benefits for CBD brands that podcast advertising does. Podcasts allow for targeted marketing, reaching an audience that's already interested in health and wellness.
You're missing out on a robust marketing channel if you're not leveraging digital audio for your CBD brand.
Consider this, digital audio ads, including podcasts, are more accessible to CBD brands than traditional radio ads. They offer precise audience targeting and strong measurement capabilities.
You can run your ads on popular platforms like Spotify and Pandora, reaching your audience as they stream their favorite music or podcasts. Moreover, digital audio is increasingly popular among high-value consumers aged 21-34, a prime demographic for CBD products.
Most importantly, digital audio allows you to engage audiences even when they're multitasking, meaning your brand message is heard even when screens aren't being viewed.
Understanding the differences between podcast ads and digital audio ads — and how their combination can be advantageous for CBD brands — is essential for a well-rounded advertising strategy.
Podcast ads are a unique way to reach people. They are part of the podcast itself, often read directly by the hosts. This makes them feel real and personal.
Podcasts usually focus on special topics and attract specific groups of listeners. This is great news for if you’re looking to increase podcasting ROI for CBD brands. Brands can use podcast ads to talk more about the products, discussing benefits and sharing success stories.
This helps the audience learn more about the products, builds trust and strengthens the connection between the CBD brands and potential consumers.
Digital audio ads are short, sharp messages that you'll hear on streaming platforms, online radio, or even podcasts. They're designed for a broad audience, making them a good way to reach a lot of people quickly.
Because they're short, they stick to the point. This makes them great for getting a clear message across or helping people become aware of a brand. For a CBD brand, this could mean introducing the company name or promoting a new product to a wide listener base.
Combining both strategies allows CBD brands not only to reach a broader audience but also to deliver different types of content and promotional messages according to the listening habits associated with each format.
For example, a brand like Secret Nature CBD can advertise the unique benefits of their Delta 8 THC products in a podcast discussion and use digital audio ads to build the brand's image or announce promotions on streaming platforms.
This integrated approach maximizes visibility and reach, giving CBD brands a competitive edge in the crowded digital space.
In the realm of cannabis marketing, you're often faced with restrictions, but audio advertising opens a unique and largely untapped avenue for promotion. Imagine your brand reaching millions via Spotify, iHeartRadio, Pandora, or Soundcloud.
With digital audio ads, you can target your audience precisely, using data-based strategies. These ads are accompanied by banners, enabling you to track clicks, conversions, and measure campaign success.
As of 2023, 75% of Americans were listening to online radio and 38% to podcasts. The numbers are rising, providing an expanding market for your cannabis or CBD brand.
It's a savvy move to explore digital audio advertising, not just to stand out from competitors, but to engage audiences in an immersive way.
While you're capitalizing on the potential of podcasting for your CBD brand, it's equally important to understand and adhere to the complex web of ad compliance regulations that govern the industry.
Here's how you can keep your ads compliant:
Your ads shouldn't make any false or misleading claims. This includes health benefits, potency statements, and promotional offers.
Ensure your ads don't appeal to children. No cartoon characters or similar elements. Explicitly state “For Adult Use Only” for infused products.
Use programmatic ad tech to target listeners over 21, in locations where CBD is legal.
Adhering to these regulations isn't just about avoiding legal trouble. It's also about building trust with your audience. When you demonstrate respect for the rules and for your customers' intelligence, you show them that you're a reliable, reputable brand they can trust.
That's a crucial part of successful marketing in any industry, especially one as scrutinized as CBD.
You've launched your digital audio ads, and now, it's essential to evaluate their reach and effectiveness. Start by analyzing how many listeners your ad is reaching. Are they part of your target audience? Use first- and third-party data sets for precise targeting.
Track clicks and conversions linked to your audio ads and accompanying banner ads. Are listeners engaging or making purchases?
Remember, the value of your digital audio ads isn't just in numbers. Consider the quality of listener engagement. Podcast listeners, in particular, tend to trust their hosts and are more likely to purchase endorsed products.
Knowing if your podcast ads are working for your CBD brand means keeping an eye on certain numbers. Let's call these numbers Key Performance Indicators or simply KPIs. What you choose to track will depend on what you're aiming to achieve.
By tracking these KPIs, you'll have a clearer picture of how effective your podcast ads are in boosting your CBD brand.
Podcasting offers CBD brands like Charm City Hemp a unique way to reach out to a highly engaged, diverse audience base. As we've explored, the growing popularity of podcasts make them a lucrative marketing channel.
However, successful podcast advertising requires strategic planning that ensures compliance with regulations, reaches the right audience, and effectively communicates your brand message.
Adopting a dual approach by integrating podcast ads with digital audio ads can help CBD brands reach their marketing goals more efficiently. Measuring essential KPIs like downloads, listens, impressions, reach, frequency, CPM, CTR, conversion rate, and ultimately ROI is crucial in tracking the effectiveness of these ads.
Now that you have a comprehensive understanding of how podcasts can be leveraged for CBD brand marketing, the next step is to find the right podcasts, craft compelling ads, and start tracking your success.
Remember, patience and continuous optimization will be key in your journey to maximize your CBD brand's podcasting ROI.
