Measuring the ROI of Branded Podcasts: Insights from Industry Experts

Ensure the data you're looking at, matches the outcomes you're after.

As a podcast producer, I'm regularly asked about the ROI of branded podcasts. It's a question that plagues many marketers, but the truth is, there are powerful ways to measure and demonstrate the value of your podcast. I recently attended a virtual panel discussion hosted by Lower Street - the Brand Podcast Summit that shared some interesting input on this very topic.

The panel, led by Annalise Nielsen (Podcast Strategy & Development at Lower Street) featured Jamie Ro? from Morgan Stanley, Amelia Coomber from PodScribe, and Matt Hird from Signal Hill Insights. Each brought unique perspectives on how brands can effectively measure podcast ROI.

Brand Lift Studies: Quantifying the Intangible

Matt Hird explained the power of brand lift studies in measuring podcast effectiveness. These studies compare two groups: one exposed to the podcast and a control group. By measuring the difference in brand perception between these groups, we can quantify the podcast's impact.

"We can demonstrate lift and the impact that hearing that podcast did have on those individuals," Hird noted. This approach is particularly valuable for measuring top-of-funnel metrics like brand awareness and consideration.

Pixel Attribution: Tracking the Customer Journey

Amelia Coomber introduced us to pixel attribution, a technology that allows brands to track user actions after podcast exposure. This method can measure everything from website visits to purchases, providing a more concrete link between podcast listening and consumer behavior.

Coomber shared an interesting insight: "24% of all of their converters and their purchasers from that show had done so within the first 24 hours." This kind of data can be incredibly valuable in demonstrating the direct impact of your podcast.

The Brand Perspective: Morgan Stanley's Approach

Jamie Ro? from Morgan Stanley offered a brand's perspective on podcast ROI. Their podcast, "What Should I Do With My Money?", aims to demystify financial advice and make it more approachable.

Ro? emphasized the importance of aligning podcast goals with overall business strategy: "Having this very strategic, business-minded, test and learn, growth-oriented mindset about it, I think, is the type of language that speaks to your other business strategy folks who sign the checks."

Key Takeaways for Brands

1. Define success upfront: Establish clear goals and metrics before launching your podcast.

2. Use multiple measurement tools: Combine brand lift studies, pixel attribution, and traditional metrics for a comprehensive view.

3. Think long-term: Remember that podcasts often serve as top-of-funnel marketing, building relationships over time.

4. Align with business goals: Ensure your podcast strategy supports broader business objectives.

As someone who's been in the podcasting industry for a while, I can't stress enough how important it is to have a clear strategy and understanding of what success looks like before launching a branded podcast. It's not just about downloads or listens - it's about how the podcast moves the needle for your brand in meaningful ways.

Remember, a single conversion from a big-ticket item or service can justify an entire season's investment. So don't underestimate the power of those long-term relationships you're building with your listeners.

In the end, it's about telling your brand's story in a way that resonates with your audience and drives real business results. And with these measurement tools at our disposal, we can now prove the value of podcasting more effectively than ever before.

Watch the webinar here https://www.youtube.com/watch?v=AqZxS0Z5TK4