Determining if a podcast is the right fit for you and your business relies heavily upon the amount of time you’re willing to take to create and promote content. The outcome of doing such effectively would be forging a tighter relationship with your clients, professional network, and the general public.
Podcasts offer so much value if they’re done right and are one of the newest, most cost-efficient ways to grow your audience and possibly turn your listeners into clients or customers.
Offering free, valuable information through your podcast by sharing insight into a specific topic and guest interviews could easily create a new audience for you and your business.
“According to Edison Research, the number of Americans listening to a podcast each week has grown 120 percent over the past four years, and 90 million Americans listen to a podcast every month. As the audience for podcasts continues to grow, there has never been a better time to start a podcast for your business, brand, or a personal hobby.”
With so much of the everyday population turning to podcasts daily to learn, network, and connect with others, now may be the time for you to get started!
Implementing a podcast for your business will require you to brand it, choose a niche that will resonate with your audience, name your show, produce each episode with compelling content (most importantly), purchase equipment, and much more.
Although this small piece of marketing may seem like a lot of work, a podcast’s return on investment can be quite high as it’s a super cost-efficient way to spread awareness of your business and brand identity.
Here’s our insight on how to determine if a podcast is right for your business, along with some tips to get you started!
Will it be beneficial to my business?
Will a podcast be beneficial to my business? It’s a question you need to ask yourself because the last thing you want to do is waste your time, energy, and money. We believe that a podcast can be an excellent opportunity for any business as long as you hone in on a specific niche that you’re passionate about and relates to your business in a way that will strengthen overall brand awareness.
Creating a list of goals and objectives may help you determine whether this medium is right for you. Ask yourself, “What do I want for my business to get out of this podcast?”
Is your goal to gain more clients for your business, strengthen brand awareness, create a tighter relationship with current clients, or use it as a tool to network with other professionals in your field? Once your figure out your “why,” it’ll be crystal clear to you about whether or not you move forward with the podcast.
Another major point in determining if a podcast is a space you want your business to navigate towards is allocating yourself enough time to execute it. It will take time to brainstorm, produce, record, edit and distribute; it’s not impossible, but understand you’re going to have to put some effort into it if you expect it to help you achieve your business goals.
Finally, a podcast can be a very beneficial way to market your business. It’s an excellent way to cross-promote by linking your podcast’s audience directly to your business’s website and social media pages. At the beginning or end of every podcast, you can reference your website and socials by stating that the listener can find the link in the description below. Pro tip – a podcast is a great way to repurpose content by cutting teaser videos and audio files, then sharing them on social media and your website.
Our final thoughts; a podcast is a multifaceted tool where you can link it to your social media channels, your website, and vice versa. Podcasts truly are the new blog.
Side note, before we move on: collaborating with others podcasters who share the same niche as you is a solid way to build your following and overall engagement.
How to start a podcast
Starting a podcast is a lot easier than you may think! Once you’ve decided to move forward with the podcast, it’s time to hit the ground running.
At this point, you’ve decided to move forward and have identified your goals and objectives. Now is the time to name your podcast. It’s important to put some thought and effort into naming your show, so brainstorm. Choosing a name that is telling of your content while being abstract at the same time will generate more interest than a generic name or a replicated business name.
Next, create a concept. Choosing a concept/niche is singlehandedly one of the most important steps in creating a podcast. We cannot tell you how many podcasts we’ve seen fail over time due to not having a specific theme or topic.
Remember, people want to know the type of content they’re getting without surprises. A listener is much more inclined to subscribe to your podcast if you have a specific niche that fully aligns with their interest; do not try to appeal to everyone. Usually, when a podcaster tries to appeal to everyone, they appeal to no one.
Now you’re going to want to hone in on the format of your show. Will you be the host? Will one of your employees be the host? Will there be a co-host? Will this be an audio only podcast? Or will it be audio and video?
You also have the opportunity to decide whether or not you want the podcast to be scripted, simply following a run of show or an improvisation. During this brainstorming session, you want to decide the length of your podcast and create a publishing schedule to create consistency between the podcast, audience, and business. Once you nail down all of this, you’re ready to purchase equipment and create collateral for the podcast.
Some equipment you will need to purchase to start a legit podcast includes a microphone(s), a camera (if you plan to go the visual route), video and audio editing software, a video-telephony software program, a laptop, and a backdrop if you do not have a visually appealing space to record in (for audio and visual podcasts only).
Finally, you will need to create collateral for your forthcoming podcast. Creating a graphic for every outlet your podcast will be published on is key, along with designing graphics for all social media sites to strengthen visibility, brand awareness, and identity.
Most of all, remember to have fun!
Pros and cons
At this point, you may have created a list in your head of all the pros and cons regarding starting a podcast for your business. Although we find there to be far more pros in using a podcast as a marketing strategy, there are still some cons you may want to take into consideration.
“Americans listen to approximately 21,117,000 hours of podcast audio every day. Podcasts also have an intimate relationship with listeners. Listeners invite podcasters into their earbuds during workouts, commutes, and other private spaces. That close relationship has many businesses wondering whether to add podcasting to their content marketing mix.”
Is a podcast the right fit for your business? Let’s weigh the pros and cons.
- Build a loyal base of listeners/clients
- Forge connections with customers and clients outside of your network
- Network with other professionals in your industry
- Be recognized as an industry leader
- Strengthen relationship with current clients
- Strengthen brand identity and awareness
- A cost-efficient way to market and cross-promote content
- Time consuming
- Podcasts do not appear in the initial search engine results pages
- Requires the willingness and ability to edit
- Can tarnish brand reputation if it comes across as unprofessional
We believe that the pros of a podcast heavily outweigh the cons and are confident you will succeed in your quest to implement one into your marketing strategy should you follow the tips and recommendations we have shared with you. Now…go get started!