Money Talks: Podcasts Are a Sound Investment for FinServ Advertisers

Podcasts have emerged as a widely popular medium for information, advice, and knowledge. As such, it’s no surprise that the business genre has shown continuous momentum, boasting a +39% increase in listenership over the last five years. The rise of podcasts reflects a broader shift in media consumption habits—particularly among younger, tech-savvy consumers who value on-demand, personalized content.

For financial services brands, advertising on podcasts offers the opportunity to position themselves as modern, innovative, and in-tune with the preferences of younger generations. For financial services advertisers looking to pinpoint engaged ears who are invested in their financial future, the SiriusXM Podcast Network portfolio is the perfect solution.

Podcast Listeners Are Financially Dialed in

Believe it or not, podcasts and the financial services industry have a wealth of synergies. They both require a solid reputation, a deep sense of trust, and proven credibility to win over the average consumer. Podcast listeners mirror the ideal financial services consumer—they’re affluent, well-educated, younger, tech-savvy, and work in a professional occupation. Naturally, they’re actively exploring new financial solutions. While 91% of podcast listeners A18+ currently have a credit card, they’re 23% more likely to consider opening additional credit lines with new credit cards in the near future than the average digital audio listener (123 index).

They aren’t just in the market for a new credit card, though. Over 40% of podcast listeners are likely to add additional accounts or products to their current portfolio with their current bank (e.g. open a savings account, apply for a mortgage, open a new credit card, etc.), and 89% of podcast listeners would consider switching banks or opening a new account with a different bank. If you’re not convinced that your next investment should start with podcasts, here’s additional proof.

But what matters most to podcast listeners when it comes to credit cards? Listeners are looking for a product that offers security and perks and blends value, rewards, and innovation.

If you’re looking to hedge your bet with podcasts, ensure your brand messaging is relevant by positioning it closely with your audience’s current needs and aspirations. When done right, your brand message will feel like customized content that seamlessly aligns with the nuances of your audience–and here’s how you can tailor your messaging to craft a winning value proposition among potential financial services switchers:

Podcasts Are Your Financial Edge: Turn Podcasts Into Profit

Targeted Audience Reach

Listeners gravitate towards shows that align with their interests, values, and professional goals, which means that financial service brands can easily reach a highly relevant audience. A podcast focused on personal finance, entrepreneurship, or investment strategies will naturally attract listeners who are already interested in financial services, making them more receptive to related advertisements.

By advertising on podcasts, financial services brands can ensure that their message is heard by potential customers who are more likely to be interested in their products and services. For example, 76% of podcast listeners are interested in cash-back rewards and benefits and 48% are interested in travel rewards. Therefore, by leveraging brand messaging that clearly portrays the benefits and unique advantages of your brand’s services and capabilities (think 1% cash back, welcome bonus miles, premium travel benefits, etc.) and hone in on how these features outweigh the competition.

Tap Into Podcast Engagement and Trust

Podcast listeners are known for their high level of engagement and eagerness to learn. Unlike other forms of media where advertisements can easily be skipped or ignored, podcast listeners often hear ads as part of the show. Additionally, podcasts are typically consumed in environments where the listener’s attention is focused—such as commuting, working out, or while doing household chores. 71% of podcast listeners even say they listen to audio and podcasts while partaking in any financial services activities.

This level of engagement translates into higher retention rates for advertising messages. In fact, podcast listeners are 62% more likely to get tips and advice from podcasts than the average digital audio listener (162 index).

And just like financial services brands, podcast hosts have a strong relationship with their audience built on trust and credibility. When a podcast host endorses a financial service brand, it comes across as a personal recommendation rather than a generic ad. This proves how a host-read endorsement can significantly boost the credibility of the brand, inspire listeners to seek more information, or even drive action.

Utilize Content Integration and Storytelling

Podcasting has a unique advantage—it allows brands to integrate their message seamlessly into the content with minimal disruptions. Unlike traditional ads which are often seen and viewed as intrusive to the listening or watching experience, podcast ads are often woven into the narrative of the show.

Advertisers should craft messages that resonate with the themes of the podcast and speak directly to the interests and needs of the audience. For example, a financial services brand could sponsor a segment on investment strategies and provide expert commentary during the show. This not only provides value to the listener, but it also positions the brand as a thought leader in the financial services industry.

Prosperity Through Podcasts with the SiriusXM Podcast Network

A SiriusXM Podcast Network campaign generated significant double-digit lifts for a financial services advertiser through advertisements on a contextually relevant podcast show. The campaign leveraged audience targeting capabilities to reach fans of business and finance podcasts who embody the advertiser’s core audience.

Through authentic host-read ads, the campaign successfully communicated the advertiser’s key messages and influenced listener intent through a strong call-to-action. The campaign was successful in driving results across the entire marketing funnel.

• +48pts in brand awareness

• +18pts in affinity

• +13pts in intent to seek more information

• +11pts in recommendation intent

Brand Lift Study Results

A SiriusXM Podcast Network campaign featuring show-level podcast placements delivered strong results for a financial services advertiser. The campaign utilized host-read ads to authentically endorse the advertiser’s product and genre targeting to pinpoint listeners of true crime, arts, comedy, and society & culture shows. The campaign leveraged informative brand messaging to portray the benefits and features of the advertiser’s product and a call-to-action driving listeners to their website. The campaign was highly successful in generating lifts across key brand metrics and attributes among key consumers, A18-34.

• +13pts in recommendation intent

• +10pts in brand-specific attribute about online and mobile experience

• +9pts in familiarity

• +9pts in favorability

• +8pts in purchase intent

Procure Your Profits with Podcasts

In an industry where credibility and reliability are paramount, podcasts are the ideal partner for a financial services advertiser looking to enhance their visibility, build trust, and drive meaningful results that have a positive impact on their bottom line. If you’re ready to benefit from high conversion rates, increased customer retention, and a strong return on your investment, look no further than SiriusXM Podcast Network. Let’s talk.