Brands are venturing into the world of podcasting for consumer engagement
Trend – As podcasts become a more popular form of media, brands are creating their own branded podcasts to further connect with consumers. Since podcasts typically have a niche focus or theme, they offer more targeted platforms that speak directly to smaller groups of potential or loyal customers. These podcasts can be observed in a range of industries that include everything from alcohol to interior design.
Insight – Branded podcasts diversify businesses' reach by leveraging platforms that are already aligned with consumers' daily entertainment-based habits–particularly those of younger demographics. The shift towards creating company-specific podcasts comes as Millennial and Gen Z consumers seek out more authentic interactions with the brands they align themselves with. With many people no longer buying into the "one-size-fits-all" approach to campaigning, branded podcasting is able to cement brand loyalty for young consumers who turn to brands that appeal to their specific interests.
Insight – Branded podcasts diversify businesses' reach by leveraging platforms that are already aligned with consumers' daily entertainment-based habits–particularly those of younger demographics. The shift towards creating company-specific podcasts comes as Millennial and Gen Z consumers seek out more authentic interactions with the brands they align themselves with. With many people no longer buying into the "one-size-fits-all" approach to campaigning, branded podcasting is able to cement brand loyalty for young consumers who turn to brands that appeal to their specific interests.
Workshop Question - What is one alternative platform that your brand currently isn't using, but could?
Trend Themes
1. Branded Podcasting - As podcasts become more popular, brands are creating their own branded podcasts to connect with consumers, which helps to cement brand loyalty for young consumers who turn to brands that appeal to their specific interests.
2. Storytelling Podcasts - Inspired by the immense success of some podcasts as a storytelling medium, a number of brands have launched their own series, with content ranging from educational to entertaining.
3. Product-centric Podcasts - Brands are launching product-specific podcasts that help consumers to better understand their products and the company, while also offering a creative way of marketing their products to a wider consumer base.
Industry Implications
1. Retail - Retailers can leverage the power of podcasts to create brand-specific experiences that target targeted audiences by launching podcasts that range from entertaining to educational.
2. Health and Wellness - With millennials and Gen Z consumers increasingly seeking out authentic interactions with the brands they align themselves with, companies in the health and wellness sector can create brand loyalty for young consumers who turn to health and wellness brands that cater to their specific needs through branded podcasts.
3. Home Furnishings - Companies in the Home Furnishings industry can leverage podcasts that cater to audiences of all sorts by creating podcasts that focus on everything from interior design to furniture-themed sleep podcasts, offering a new and innovative way to market their products.
