Is Podcasting A Good Addition To Your Business Model?
Are you thinking about starting a podcast for your business? I know a thing or two about podcasting. From first-hand experience, it has been very valuable for my audience and business. I am here to tell you a podcast can be a great way for your business to connect with customers and build its brand. In fact, studies show that Americans listen to approximately 21,117,000 hours of podcast audio every single day. That’s crazy, right? And with listening being extremely easy on mobile devices, iTunes, and podcast apps, this number will continue to rise.
Podcasts offer valuable information, great networking opportunities, and a strong connection with listeners. As podcasters step inside listeners’ earbuds, they take place in their private spaces and lives. Obtaining that close relationship has many businesses wondering whether to add podcasting to their content marketing mix. But, before you launch a podcast, it’s important to understand the pros and cons of this type of content marketing.
Podcasting can benefit almost any business. It’s easy and inexpensive to produce podcasts. However, they can be time-consuming to create and difficult to stand out in a crowded space, but if you can make a run at it, the payoff is worth it!
So, What Are The Pros of Starting a Podcast for Your Business?
Certainly, podcasts are a great way to connect with your audience and build your brand. Nonetheless, they’re relatively easy and inexpensive to produce, and you can record and edit your show yourself or outsource the production to professionals. Once you’ve created your episodes, they can be distributed free on iTunes and other popular podcast directories.
Let’s look at some other benefits of starting a podcast for your business:
1. You can reach a broad audience.
Since podcasts are so easy to consume, they’re perfect for busy people who want to be able to listen to content on the go. This means that you have the potential to reach a broad audience with your show. In fact, it shouldn’t come as a surprise that the largest audience for podcasts is made up of highly educated and wealthy adults. After all, podcasting has been shown to stimulate brain activity more than watching television does. So you can reach your audience for free or at a minimal cost. The more people who listen to your show, the better chance you have of attracting new listeners who may be interested in what you have to say.
2. You can build relationships with your listeners.
Because podcasts are intimate and personal, they help you build relationships with your listeners. This is something that can be difficult to do with other marketing strategies. Connecting with people is easier when they feel like they know you personally. It goes without saying the more you share about yourself and what you do, the more people will feel like they have a connection with you. This can lead to repeat listeners who come back for more every week—building a sense of community. This is especially important if you run an online business. If people feel part of something bigger than themselves, they will be likelier to stick around and support you for years to come, spreading the word.
3. You can establish yourself as an expert in your field.
If you produce a high-quality show that provides valuable information, you can quickly establish yourself as an expert in your field. This can help you attract more clients and customers as an influencer. Furthermore, collab opportunities come to fruition with other influencers growing your audience and revenue when you become an influencer—all the while building a brand that people trust and respect. By producing high-quality content, it will become apparent to your audience that you are an authority on the subject. This will help them trust and respect your opinion when they decide to purchase from you or recommend your products and services.
Now, What are The Cons of Starting a Podcast for Your Business?
While podcasts offer many benefits, there are some downsides to launching your show. Podcasting can be time-consuming and competitive. The podcast episode takes two to three hours to record and edit. Creating a new show can be time-consuming. Why? You will need to set aside time for research, planning, and recording interviews with guests.
Now, most of this can be outsourced to a team besides your recording.
Ready to take the plunge into podcasting?
Lessen the learning curve by scheduling a call with yours truly. Our podcast experts can set you up for success on launch day!
Back to some other potential drawbacks of starting a podcast for your business include:
1. Must deliver on a schedule
Your publication schedule should reflect the expectations of your audience, who have come to expect content delivered on a predictable—and frequent—basis. Podcast production is time-intensive work, and mainstream media has conditioned audiences to expect newsletters, podcasts, and YouTube videos to all are released in the same cadence. If you miss an episode or otherwise disrupt your publishing schedule, listeners will be confused and frustrated by the change.
2. Loss of interest
Users quickly lose interest in podcasts that don’t grab their attention. If you want listeners to stay engaged with your podcast, make sure the title is compelling and relevant—and if possible, discuss an aspect of your business or expertise right away. But keep it interesting. If your podcast is a monologue, you’re going to lose listeners quickly. Instead of just a monologue, try interviewing guests or inviting them to share their expertise on specific topics related to your business. You can also create call-in segments where people can ask questions and give feedback on their experiences with you or the industry in general. People love connection. I know developing topics and questions for guests can be tricky if you’re just starting with podcasting. To help you get started, click here to schedule a call, we can brainstorm some ideas, and you’ll walk away with your first 3 topics.
3. Investment to Market your Podcast
Since not everyone is familiar with your podcast, you’ll need to invest time and money into promoting your show if you want it to succeed. This includes things like creating eye-catching cover art, optimizing your episodes for SEO, and submitting your show to popular publications. To be truly successful, you’ll need to promote your podcast across multiple channels and ensure that it fits your overall marketing strategy.
Depending on your budget, you can hire a designer to create the cover art for you or do it yourself. If you’re more familiar with the design and want to create your own cover art, here’s some advice: Make sure it’s simple and clean. You don’t need anything fancy (unless your brand is one of those), just a logo (or text) and maybe an image representing your podcast.
The truth is that podcasting has always been around, and it’s just taken a new form on the internet with the rise of digital distribution networks. Even independent podcasters, who aren’t working through an extensive network, can sell and distribute their content through iTunes or Stitcher. They might not be able to reach millions of users like NPR or CBS Radio, and they may not be a household name in every home, but it’s still good exposure and helps brands show off brand personality.
Whether you’re looking to become a solo podcaster or team up with others, remember to make your podcast relevant to your niche—the more people see themselves in your show, the more likely they are to share it with their friends. And remember that podcasting isn’t just about the audio or video file itself; it’s also about building an audience and getting them invested in what they’re hearing so that they will want to join any future projects you may undertake.
My Weekly Challenge For You
- Download my “How to Start Your Own Podcast” workbook.
- Make a list of your top 3 favorite podcasts and write down your likes and dislikes.
- Google podcasts within your Niche. Is the market saturated? What are the naming conventions?
- Ready to add podcasting to your marketing strategy? Schedule a free 15-minute call with me, and let us set you up for a successful launch!
So What Did We Learn?
- Ability to reach a broader audience. Since podcasts are so easy to consume, they’re perfect for busy people who want to be able to listen to content on the go.
- Build authentic relationships with your audience: Because podcasts are intimate and personal, they help you build relationships with your listeners.
- Become an influencer in your field. If you produce a high-quality show that provides valuable information, you can quickly establish yourself as an expert in your field.
- Stay on schedule: Your publication schedule should reflect the expectations of your audience.
- Keep things relevant and interesting: Users quickly lose interest in podcasts that don’t grab their attention.
- Plan on investing in marketing. To be truly successful, you’ll need to promote your podcast across multiple channels and ensure that it fits your overall marketing strategy.
Ready to join the Podcasting Party? Get ready for Q4 and launch into 2023 with a successful and smooth new podcast. Schedule a call with me today.
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