586: Podcast Advertising: What B2B Brands Need to Know w/ Patrick Lennon

ABOUT THIS EPISODE

In this episode we talk to Patrick Lennon, Co-Founder of Veritone One.

In today's episode, you're going to behearing from a gentleman named Patrick Lenen and we're going to be talkingabout podgast advertising, so I thought it would be a really great time to tellyou about a new podcast advertising model that we are actually deployingfor. This show that you're listening to be to be growth. We have startedpartnering with be to be brands and instead of doing the traditionalfifteen, second or thirty second had spot, or even the midroll AD we'repartnering with sponsors and actually building entire episodes around thesuccess stories of our sponsors customers, and so we recently partneredwith bound bound three sixty tcom and we've done. Three will be doing threeinterviews with their customers, and so it's it's been a really effective model.I feel like it adds value to the listener to hear real success storiesfrom customers that are using the litany of of MARTEC solutions that areon the market today, but it also helps...

...the sponsor by allowing their customerto do their marketing for them. And so, if you are A, you represent a B TBbrand looking to dip your tow in podcast advertising, wewould love tochat with you to see if there's some synergy there and possibly feature yourcustomers stories on this show a bety be growth, we're getting just writearound fifty thousand downloads. Every month our listeners are BTO, bemarketing leader, CMOS VPS of marketing agency CEOS. We would love to topartner with you so shou, MEA email, James at sweetfish, media Otcom, andhere is our episode with Patrick Linenyour. Listening to the BE TOB GROVshow podcast dedicated to helping B to B executives achieve explosive growthwhen you're looking for techniques and strategies, tools and resources. You'vecome to the right place, I'm Jonathan...

Green and I'm James Carburry. Let's getit into the shel. Welcome back to the Bautby Groth showwe are here today with Tatrick Lenen. He is the cofounder of Veritone, onePatrick. How re you doing today doing great! Thank you. I'm really excited toChot with you today. Patrick we're going to be talking really aboutoffline marketing. Grant specifically with Podcassis is a space that you andyour team are very familiar with excited to Divein to that with you, butto give our listeners a little bit of context, can you explain what isVertuan? What are you guys all about? What are you in your team doing overthere sure thank you so Verato one is a full service media buying agency Um.However, we do have a technology division which is Neir Tone which ispublicaly traded M and that technology platform allows visibility andoptimization that really hasn't been...

...seen before in terms of affline mediaand that that's considered Radio Television, U Tu an podcast, so wehandle everything from direct presponse television to audio to Pod, cast U Tuand we do it for some of the biggest ECOMMERCE brands out there. Man, whichyour listeners use every day like oober or word, dress on websites or link in when you're. You know usinglink an so we we use K A plater of different mediotypes and U and we scalecampaigns to to an effective CPA, a lot sopatric in ind diving more into thatwe're going to talk specifically about hodcasting and some of the results thatyou guys are seeing at a high level day when it comes to the media buying forfor bycasting. What have you found to be th the variables that really makefor a successful yuowpodgasting campaign from an advertisingperspective? A good question and potcasting is sort of an UPU phenomenon,because there's no limit in sight in terms of how much content can be putinto the universe. So new content is...

...coming on. Every day we managed betweenfour hundred and six hundred shows a week, pondcast integrations and what wedo is we target. We first take internal research, so we check Oll the boxes ofall the internal research. You know items that we have from pod track toall the different. You know researchols to make sure that we're talking to theright demographic, we're talking to the right consumer, whether it's be a bb tosee et Cetera, et Cetea, then once we do that we take internal research andinternal research tells us we spend tens and millions of dollars on podcastand we understand sort of what works. What doesn't work to a CPA to ademographic? So sometimes the show might look wonderful on paper, an MPRshow, let's say on podcasting, but we know based on creative restrictionsbased on what NPR will allow you to do, whether it's a preroll ad, a Mideral,lad or a postral AD. All those things come into play in terms of driving aneffective CPA for for campaigns. We're...

...seeing a lot of grilled lot ofsuccessuled be to be, and have you know been doing this now with legal zoom forfifteen years in radio and I'm loing hem into more podcasts, because thespace is so fruitful for kind of efficient CPAS. I I love it. We'vewe've started, bringing on more sponsors, H, specifically a lot ofMartete companies, because our audience is made up of B TB marketers, and sothis is. This is a area that I'm very interested in. As far as themeasurement, you said that you know they're performing really well. Whatare some of the metrics that you guys are using to measure success of a B TB,Brans podcast advertising campaign Tue, so every every client we have hasdifferent success. Metrics KPIS call them so whether it's a CPA to unnewinstall to whether it's a free trial it just it really depends on what thatclient's metrixs are. We have real time dashboards that allow our team tointake from a number of different...

...methods, data from our clients, so wecan literally turn results around from unique landing pages. So when we gointo a potgas campaign, traditionally poncasters have sort of branded broadcasting with the UNIQ URL. U Sothat's called indirect, so indirect attribution will tell us how manyunique visitors came to a Ou kN W to a site. Let's, let's say it's: LLEGALZOMDOT COM, slash, NPR or legalinamslash, Adam Corolla, then we know based on thetraffic it's coming into, that unique url. What our COSPA uniques are. Whatare conversions? We can follow that consumer. All the way to tha funnelbecaus see WHA. Like Tim tow, how you looks like we can see what averae Ordavalue looks like then we can capsure the indirect on the website, so themainsihte of U Kn, W legalsm dotcom. We might have adifferent methodive capture there, whether it's survey, whether there's alot of different ways we capture within...

...either pre or post survey. We havedifferent methods of doing it and then our analyt extem e innal hat exteamdevises a a collaboration between each client, so they're comfortable with themeasurement tactics and then we optimize on a day to day basis on aweek week basis, and then we we cut those shows that aren't working and weadd those shows that are working ot it can you speak Patrick, a little bit toof the creative element of what makes a picast ad from your experience, whatmakes it successful so creative creative speaks to each host right andI mistake: oftentimes is taking one creative and dispersing it amongst youknow: Fifteen twenty thirty forty host and saying okay, each invuluncer speaksthe same way. We have unique copy. That's actually drafted four poncastersbecause podcast, you know each host reads differently. Some, like coppypoints SOM like scrips, some like more...

...banter, so there's just there's just adifferent variety of 'em. We have a full creative team, potcast writers, itjust right for pondcast medium for the bokge medium, so they know sort of howto speak in that language. So it really depends. I mean certain brands are moreof intigration in terms of a banter with a creative and some some host willreit straight. You know from the script, not not that one hose reading from thescript doesn't do as well as a host ad is more Danter, but you know he shows.Does it differently got Patrick is there's somebody listening to thisright now and they're thinking? Okay, I've been hearing a lot of people talkabout Pat Gess advertising. You I've beenhearing some success stories, but I'm brand new to this. Are there any wordsof wisdom or of maybe mistakes that you see brands making when they, when theyventure intopguessadvertising, that you would warn them about to the person whomaybe hasn't done it yet, but they're about to step into doing their firstcampaign? It's a good question. I think...

...t the thing that we we recently get a astudy that showed if a client comes in and spends less than seventy fivethousand dollars over three months and typically, what we tell clients o spendbetween seventy five thousand N ot n hundred and twenty five thousand overthree to four months. OAND literally, a three x more success model comes whenpeople spend that amount of money. 'cause we've taken tests that are fiftythat are twenty five and there're three towns more likely to succeed in thescale if, based on between seventy five and one twenty five. So the goal hereis not from an agency stanppoint to get more budget, because any agency thathas the right depth behind it is upside and down on t a test. They lose moneyso between manpower between negotiations, everything that we do soit's really cannot get a false negative on the channel, because you'd haveenough inventory out there and enough shows out there to optimize and to getenough of a read because shows: Are you...

...know they take a whil o work? Sometimes,so they don't spend too little. Edon't spend too much. OK, that's! That is afantastic piece of advice. It's super superspecific, and so I reallyappreciate you sharing that insight with this Padrick, Oh yeah, for sure e.We walked away from clients and said just save your money. I mean we don'tat the end of the day. We we keep clients, you know for ten fifteen years.You know because we treated like it's our money and we just we've. Seen toomany people come in and say: okay, I want to spend ten thousand dollars andwe say stay and digital stay in front. You know where you can actually trackit, there's so much breakage in what we do. You have to really invest a timeand and resources it that that makes perfect sense there. There anythingelse related to podcast advertising, Patrick, you think our audience shouldknow before. Before I get into our last question today, I would just say thatpondcasting is changing a bit and dynamically inserted ads versusembedded. So the way poncast first...

...started was inbeded ads would livewithin a show for popetuity, so hypotatically. Let's say you know: AlecBaldin on here is the thing which id n Pr Pot Gass five years ago. F, thatshow was running that ad, that he read that he interviewed Michael Buglos letssay, would stay forever. Your ad would stay in there, but nowadays whatthey're doing the bigger shows are doing it already about forty percentofshows are doing it, its dinamically INSERTOD, so you're buying impressions.So basically the had still read vine, Alic Baldin, let's say, but whathappens is as soon as you get your agreed upon number of impressions, yourad is removed and a new ad is put in so be aware of dynamically INSERTEF.Beware of CIMBENTED versus on iece we like to have embedded because it bed itworks better because it has a longer self life and you get drag okay. So that's one thing also obe bweary ofbuying just pre roll beginning of an ad...

...th beginning of he show or post, issomething that you should really be buying. Almost it no charge or gettingfor a very low amount of money. So those are just high level topics, Irsome Mid Roll Hand, O midroll host red ads ore, really what what brain shouldbe focused on those are the best, those a e, that's the prominmentory, becauseyou have a consumer that really doesn't even know. What's an ad but preroll youskip through and post roll people have checked out m an there's volue there,but it's just you know you gotta be able to measure the value by by by whatyou're paying for it aight Patrick! Well, this this his been fantastic. Iwant to close with one last question, which you know is is a question thatI've I've been asking my guess. In the last few weeks I've been loving theresponses I've been hearing but petrick. What is the legacy that you'd like toleave? You know I'm unique in the sense that you know Istarted the media agency side of the business when I lost my vision: s I'meBlind Hade, a little Bit of vision, my Latic SM, legally blind, so I'vestarted foundations and done different things for the blind and low vision,and I like the legacy I'm I' like to...

...leave- is that anybody can do anything.If you work hard and H, you know that you know you don't give stink, maybethere's a legacy there soa at the end of the day, there's uh, you know, there's a lot. People don'tdo because they just give up yeah man. That was a fascinating story. I had. Ihad no idea that you a lost your sight, yeah, that's incredible! AFTERI! Ifsomebody is listening to this, they want to stay connected with you. Theywant to learn more about vertom an what's the best way for them to goabout. Doing that. Just hit me on Linden, Patrick last name, Lennonvertone. You can find it pretty easily or, if feel free, to shoot me an emailto Patrick at veratone, vritoneone, dotcom and I'Llgo back in, and thankyou for the thanks, fo Chate, no problem, Patrick! Thank you so muchferee time I really appreciant it Ta e Obly to ensure that you never miss anepisode of the bbi growth show...

...subscribe to the show in Itunes or yourfavorite pot gas player. This guarantees that every episode will getdelivered directly to your device. If you are someone you know would be anincredible guess for the be to B groshell email me at Jonathan atsweetfish media dtcom. Let us know we love connecting with bee to beexecutives and we love sharing their wisdom and perspective with ouraudience. Thank you. So much for listening until next time.

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