With more than 35 million Americans shopping for a new car online, of which 29% are listening to podcasts, is the auto industry facing a unique opportunity to engage customers? New data from Nielsen explores how marketers in the auto industry, which has been hit particularly hard by the COVID-19 pandemic’s closure of plants and supply chains, could leverage an engaged audience of podcast listeners.
Podcasts listeners are an ever-growing audience. And, despite research from Westwood One suggesting that podcast ads might be becoming less popular with listeners, there remains an opportunity for auto industry marketers. Using data on the average amount that households shopping for vehicles online expect to pay for a new vehicle ($28,767), Nielsen posits the 10.5 million podcast listeners who are also shopping online for vehicles as a $302 billion market opportunity.
Crucially, both podcast listeners who are also internet vehicle shoppers are shown to take action as a result of hearing an ad in a podcast. In fact, podcast-listening internet vehicle shoppers are often more likely to take action when hearing an ad in a podcast than podcast listeners in general. For example, where 45% of podcast listeners report having visited a website for more information about the product advertised, half of internet vehicle shoppers have done the same.
What’s more, the subset of podcast listeners who are also internet vehicle shoppers are more likely than average to visit a website to purchase or order the product advertised in a podcast ad and visit a retail location to get more information about the product.
Separately, auto industry marketers should be mindful of a particular market opportunity for hybrid vehicles. While 4.1% of US adults own or lease a hybrid vehicle, 5.8% of podcast listeners do, making them around 39% more likely to be hybrid drivers.
There are a number of podcast genres that appeal to auto shoppers, with some genres presenting a particularly good opportunity to engage buyers. Comedy takes the top spot, listened to by about 5 million (or 47% of) podcast-listening auto shoppers. Comedy is followed by News (43%), Society and Culture (35%) and Business (30%). The Kids and Family genre takes the bottom spot, listened to by about 1 million – or 10% of – podcast-listening auto shoppers.
Read the full findings here.
About the Data: Findings are based on the Nielsen Scarborough Podcast Listener Buying Power, Rel 2, 2019.
