Podcast Discount Codes: How to Track Performance

A bonus month of a subscription box. A discount on a new mattress. A buy-one-get-one deal from a new clothing brand. Promo codes have long been a popular way to build audience engagement while tracking impact and ROI. When you combine the influence of promo offers with the power of podcasts, you get an unparalleled combination for your campaign strategy. Explore how podcast discount codes can transform your approach.  We’ll also cover other, modern podcast measurement solutions to consider. 

Understanding Podcast Discount Codes and Measurement

Podcast discount codes are a coupon for your ears. Brands come up with a simple enough phrase for listeners to remember, from “Get 15% off your first order with code HOLIDAY15” to “Buy one, get one free with code BOGO60.” Whether it’s read by a host in a host read or an announcer in an announcer read, the unique code can be used to track metrics and help advertisers trace a purchase back to a campaign. 

The Benefits of Adding Promo Codes to Your Podcast Advertising Strategy

Promo codes help listeners close the gap between hearing and doing—especially the consumers who didn’t previously know about your brand or aren’t yet fully sold on making their first purchase. Discount codes can also be powerful campaign measurement tools, especially for tracking lower-funnel metrics. Here’s why adding promo codes to your podcast advertising strategies continue to be successful, and how your brand can use them in your next campaign for better results (and measurement).

Offering Listeners Attractive Deals

All brands want to see increased impressions, boosted brand awareness, and high purchase intent. To receive all three and more, entice listeners with something tangible: a discount code. Listeners want to know what value you can provide, whether your product or service simplifies their lifestyle, relieves a pain point, or enhances their daily routine. With a promotional offer, you can deliver quantifiable value, giving listeners a reason to try your brand or learn more.

Showing Campaign Effectiveness

Since the data tracking is built into a discount code, advertisers can easily track sales, engagement metrics, and more. Additionally, you can also leverage landing page visits, click-through rates, and completion rates to help understand and adapt your campaign’s creative elements and targeting.

Building Community Exclusivity

Some consumers want exclusivity from brands, and a limited-time promo code or offer for rewards members can deliver just that. Combining your listeners’ favorite podcast with your brand’s exclusive offers shows them that they are a special part of your brand’s larger community—and this act goes a long way towards building trust.

The Best Practices of Adding Promo Codes to Your Podcast Advertising Strategy

Remember Your Campaign Objectives

When starting any campaign, double-check that your measurement strategy is in line with your measurement goals. Start off by asking yourself these questions: 

• Are we aiming for short-term performance or long-term relationship building? 

• Who are we trying to reach? 

• What does good or poor performance ultimately look like to us?

Consider Upper- and Lower-Funnel Goals

Different podcast ad formats serve distinct purposes in your marketing funnel. Host-read ads excel for upper-funnel metrics like brand awareness and trust, while shorter, direct-response ads with clear CTAs are ideal for lower-funnel metrics like purchase intent and conversions.

Test, Then Test Again

A single podcast campaign isn't enough to determine ad effectiveness. Use the data from your initial campaigns to optimize creative elements, targeting parameters, and offer structure in subsequent campaigns. And remember, what worked well in a previous campaign might not be the golden formula this time around. Consider evolving factors like seasonality, consumer behaviors, and economic shifts. By adopting an iterative approach, you’ll be able to refine your podcast advertising strategy over time, maximizing both engagement and ROI.

Are Promo Codes Right for My Brand and Campaign?

Despite the benefits of adding promo codes to your podcast advertising strategy, it’s important to note that this measurement approach may not be for everyone. For one, it can underestimate the true impact of audio. Consumers could recall a brand or product but not necessarily the discount code itself. When brands rely on user behavior like typing a URL or keyword, they may not capture the majority of consumer responses who may visit a website through search, navigation, or other channels. And two, solely relying on promo codes only provides info on raw clicks and visits and not on reach, frequency, or cross-channel interactions. For optimal results, consider using a mix of measurement solutions, including discount codes, brand lift studies, and MMM to reach your campaign goals. 

Modern Ways to Measure Podcast Advertising Success

While promo codes are an available avenue, they're just one of the many measurement tools available today. Here are a few modern approaches to track your podcast campaign performance. 

Upper Funnel: Brand Lift Studies

This solution answers the question, “How does my target audience feel about my brand after hearing my ad?” To learn consumer perception, brand lift studies measure campaign effectiveness and offer insight on ad recall, brand awareness, and more. 

Mid Funnel: Attribution Study 

Learn what your consumer did next after hearing your ads with this solution. This type of study sheds light on your unique campaign goals, including website traffic, downloads, and purchases. 

Media Mix Modeling (MMM) 

As a statistical analysis technique, MMM takes aggregated data to measure a range of marketing approaches and estimate the potential impact of media channels and campaigns. This approach has benefits like its privacy-safe nature and a side-by-side media comparison, and we’re currently working with MMMs to ensure brands can get a more accurate picture of digital audio’s impact. With this space rapidly evolving, we’re looking ahead to more simplified digital audio data delivery and more granular data quality. 

Driving Lifts in Engagement and Purchases with Promo Offers

Here’s how a subscription box advertiser successfully used promotional offers to considerably increase conversions while driving other metrics along the way. Partnering with the SiriusXM Podcast Network, the brand aimed to increase site traffic, reach an engaged audience of podcast listeners aged 25+, and drive purchase conversions.

The campaign included three key solutions: 

• Host-read ads

• High-impact creative

• Promotional, limited-time offer

The campaign results were impressive:

• +27% lift in purchase conversions driven by SiriusXM Podcast Network

• +23% lift in email capture engagements

• +13% lift in sitewide engagements 

This case study clearly demonstrates how promotional offers, when combined with the right creative approach and placement strategy, can drive significant lifts in engagement and conversion metrics.

Get Started with SiriusXM Media

Podcast discount codes are a proven way to bring podcast listeners into your ranks. When implemented and used in conjunction with other measurement methods, they can be a powerful tool for tracking performance, building community, and driving measurable results for your brand.

It’s time to leverage the power of promo codes for your podcast advertising strategy. Let's talk.

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