One of the biggest names in the radio industry is Norman Pattiz. He is also the father of Westwood one, one of the largest networks working in America. However, because of other media, radio industry got a step back, making Pattiz work harder to find a lookout for the next best thing in the listening industry.
With the rapid growth of the internet, he decided to start the radio equivalent on the web, podcast. And started a network named PodcastOne, which was the network working on delivering high-quality content through numerous podcast channels. He also tied up with many celebrities to give quality content and grab more attention of the audience.
What makes podcast different from the radio is, in a podcast, there is the space for advertising. Most of the podcasts are unaware of this business strategy, and some don’t give out their spaces to brands, making them make less profit in this business.
Norman Pattiz wanted to earn more money from this business, and for that, he contacted more advertisers to showcase their ads on his network. Few advertisers agreed within some months thus making him the game changer in this field, he for sure had more advertisers than other networks.
However, Norman still wanted more brands on his side to make his network famous. For that Pattiz had to make his network more effective as to attract more audience.
Any podcast will get more audience when they know that their advertisement is effective and what’s showcased is reliable and right, so for that, he decided to team up with Edison research to conduct a market analysis on the effectiveness of the products that were being advertised on the podcast network.
The market analysis was conducted in two phases. The first phase was consulting the subject group by making them fill a questionnaire related to the brands that were going to advertise on that network. The second phase was after when the subjects were listened by a good number of ads on the podcast channel, in between shows.
Then they were asked questions related to those brands finding out which brand got the most attention. The result was positive and show that the brand recall is extremely important in most brand situations.
Such as when the question was asked related to one of the grocery brands, only seven percent could recall or remember what exactly the interviewer was saying, after the listening analysis was concluded, almost sixty percent of the subject could recall the brand solely based on the ad that was aired. He then found out what brands should be aired making his network effective.