How Bank of America Increased Brand Recall by Millions With Podcast Marketing

Podcast marketing is fast becoming integral to the diverse marketing portfolio. Here’s how podcasts are becoming the voice of brands like Bank of America to deliver entertainment, drive engagement, and improve brand recall.

Many brands like Pretty Little ThingOpens a new window and the Bank of AmericaOpens a new window are experimenting with podcast marketing to diversify their marketing mix. We discuss the reasons podcast marketing is fast becoming a hot favorite when it comes to creating brand awareness and brand recall.

Podcasting Marketing Is the Future of Marketing

Podcasting offers intimate content consumption for the always-on-the-go consumer. A listener can tune into podcasts at a time convenient to her; doing away with the need for ‘appointment listening’. Moreover, consumers often chose to tune into the podcasts that interest them, giving marketers a chance to connect with a highly targeted, niche audience.

The Infinite Dial 2019, Edison Research and Triton DigitalOpens a new window conducted an online survey with 4126 U.S. citizens, aged 12+ and a random digital dialing survey of 1500 people and found the following results:

• 51% of respondents have at some point listened to a podcast
• More Millennials and Gen Zers listen to podcasts (39% and 40%, respectively), compared to Baby Boomers (17%)
• Portable devices and smartphones are the most common devices used for podcast listening (65%)
• Most consumers listened to podcasts within 48 hours of downloading it
• 74% listened to podcasts to learn new things while 71% did it for entertainment
• Listeners engage in various activities apart from ‘just listening’, viz. doing chores, driving, cooking, walking, exercising, and commuting.
• Listeners found podcasts enjoyable because they could multitask while listening, they could be consumed anywhere, and the speaker mattered.
   

According to another survey by MidrollOpens a new window , 81% of listeners pay attention to podcast ads.

Podcasting can thus help you better create brand awareness while engaging the ‘always busy’ audiences.

How Bank of America Is Using Podcasting Marketing

Bank of America (BofA)Opens a new window identifies podcasts as a critical touchpoint to connect and converse with their customers. According to BofA, their podcasts deliver insights from innovators, entrepreneurs, and experts and thought leaders—making them highly relevant to their audiences.

Bank of America is leveraging podcasts to carve a concrete brand vision and a unique brand persona. BofA podcasts are designed to deliver valuable experiences to listeners and subtly demonstrate the expression of the bank in that context. The podcasts are informative and in a storytelling format, so the audience can be inspired, reimagine the future, glean expert insights, and learn how changes in the world can impact their financial lives. Bank of America is careful not to hard-sell the brand but to make it visible across the podcast for consumers to recall in the future.

Learn More: 6 Techniques on How to Monetize Your PodcastsOpens a new window

Here is how you can use podcast marketing to improve your brand recall:

1. Inspire

The podcast That Made All The DifferenceOpens a new window , with BofA’s senior vice president and podcast host Alicia BurkeOpens a new window invites achievers in media, entertainment, sports, and business to learn about their inspiring moments and how these moments defined their lives and made a positive impact on the world.

The compelling storytelling format engages audiences and gives them a peek into the professional lives of these influencers. The original and authentic content helps the bank build lasting relationships with its customers and prospects.

2. Engage

Journalist and radio personality, Tess VigelandOpens a new window , in the podcast, The World to ComeOpens a new window , speaks with the visionaries across the globe to explore how today’s innovations are reshaping the future.

When you talk about the future, most consumers will sit up and take notice, making such content an active form of engagement. Engaging content drives the consumption rate generating better brand recall. Moreover, relatable and rich content has more potential of being shared among users’ networks.

3. Educate

The podcast Merill PerspectivesOpens a new window , hosted by chief investment officer, Chris HyzyOpens a new window , brings in experts to examine how the changes in the world are impacting their lives and finances.

Today’s users are keen to learn and research. So, building a podcast strategy that can educate your listeners in your niche, will help capture their interest. Moreover, with the right audiences, powerful information, and vivid storytelling, you can create a brand image as an expert and build trust and loyalty.

4. Add Value

You can grow when you help others grow, and this is the idea behind BofA’s podcast The Heartbeat of Main StreetOpens a new window . Veteran host, Gregg StebbenOpens a new window , with a passionate community of entrepreneurs and experts share business ideas, insider tips, and industry knowledge to fuel small business ideas and help them grow.

Bank of America is positioning itself as a partner invested in the success of its clients and communities. BofA is on the road to earning their long-term loyalty – by investing in quality podcast content, adding value to their listeners’ lives, and helping them achieve their goals.

Learn More: How to use Podcasts in your Strategy: A Handy Guide for B2BsOpens a new window

 Key Takeaways

Apart from brand recall, podcast marketing can be an effective way of creating brand awareness, promotion, and increasing revenue.

But for now, instead of focusing on conversions and ROI, your podcast marketing strategy could:

• Craft quality, engaging content, to entertain and create a unique brand image
• Collaborate with influencers to strike a connect with your audiences
• Create content that can educate listeners and add value to their lives
• Diversify your media mix across channels and experiment with podcasting, and test your podcast campaigns to evaluate performance
   

While podcast marketing is relatively new and yet to evolve, consider making it a part of your marketing mix to reach out to more listeners who are ready and eager to tune in.

Is podcast marketing a part of your marketing strategy? Tell us on TwitterOpens a new window or LinkedInOpens a new window or FacebookOpens a new window ; we’re always listening!