One of the reasons podcast advertising has been so attractive to direct response advertisers is the ability to tie their ad spending directly to product sales. Brand advertisers don’t have that attribution tool at their fingertips. That’s where a new study done by Art19 and Veritonic comes in. It worked with pharmaceutical giant Bayer to show how well the medium performs for marketers.
In a case study, the podcast hosting and ad serving platform Art19 and the audio intelligence platform Veritonic were able to show podcast advertising has above-average favorability scores while at the same time it drives significant increases in intent to purchase. The ads also showed demonstrable listener engagement.
The analysis was done on Bayer’s podcast ad campaign which included eight unique ads that targeted a variety of listeners, with each ad promoting core branding messages. For a well-known brand like Bayer the data shows that most listeners were already familiar with the Bayer brand name and listeners already showed high “intent to purchase” scores. Nevertheless, the scores still increased significantly after hearing the podcast ads. And Veritonic found that Bayer’s ads significantly out-performed industry averages on trustworthiness, post-exposure purchase intent, and engagement.
In terms of the ad’s creative across every spot and every type of audience target, listeners rated Bayer’s ads as authentic, energetic, happy, and relaxed. These positive ratings out-performed Veritonic’s audio industry benchmark by an average of more than 12 percent, with authenticity ratings exceeding the audio benchmark by an average of 14 percent.
Among the study’s other findings:
All ads, amongst all audience types, boosted “Intent to Purchase” to extremely high levels, averaging a score of 85 out of 100 — that’s 19 points higher than Veritonic’s industry average.
Recall was highest among listeners who identified as African-American or Black.
The ads worked across all races and ethnicities, but Hispanic listeners, who had the lowest pre-exposure intent-to-purchase scores, showed the biggest increases in intent.
Listeners who preferred competitor products before hearing the ads, were much more likely to purchase Bayer products after hearing the ads.
“By targeting specific kinds of listeners for its branding initiative, and running podcast-native ads from Art19’s Creative Studio, Bayer executed a podcast campaign that proved successful by any metric,” said Lex Friedman, Art19’s Chief Revenue Officer.