As Inside Radio reported, eMarketer predicts U.S. influencer marketing spending will grow 33.6% this year to reach $3.69 billion. Influencer marketing budgets are expected to top $4 billion next year and over $4.5 billion in 2023.
“At SMI, our podcast department is growing alongside the industry,” said Lisa Risk, Podcast Strategist. “In the last year, we’ve doubled the size of our team as we have seen budgets increase by more than 250%,” Our increasing list of podcast clients includes both podcast-only clients as well as radio advertising clients who have added podcasting to their marketing mix.
Podcast advertising can yield an impressive return on investment, and the authenticity of host-read ads is a key factor in their success. According to Andrew Nelson, Podcast Operations at SMI, “Host-read ads have really opened up an entire new avenue for our clients to pursue a connection with their prospective customers. We have seen great success for our clients in this space. It’s clear that the relationships we’ve built with influencers are helping our clients build their brands profitably – these relationships are paying off.”
Ready to start building your brand’s relationships with audio influencers? Contact SMI today to find out how you can advertise on podcasts.