6 Reasons Why Your Business Should Start a Podcast
You’ve probably heard that hosting a podcast is growing in popularity. Recent research shows that there are now an estimated 700,000 podcasts out there, and 70% of the United States population is familiar with the term “podcasting.”
From compelling stories to enlightening interviews, there are podcasts available for nearly every subject and every type of audience.
But does that mean there’s no room for your own voice? Absolutely not. In fact, starting a podcast can be a smart business move. Below are six reasons you should consider podcasting as a marketing tool for your business.
1. Your audience is listening.
When compared with things like social media, email marketing, and even traditional advertising campaigns, podcasting might seem new. However, it’s actually been around for quite a while. Previously known as “audioblogging,” podcasting began in the 1980s, but really began to gain steam in the early 2000s.
Now, more and more listeners are catching on. In fact, a reported 51% of the US population has listened to a podcast—and that is predicted to rise.
That means that it’s highly likely that a sizable portion of your existing audience is actively listening to podcasts already. So, why wouldn’t you want a presence there?
2. You have more flexibility to be creative.
Sure, you can be clever with things like email marketing messages and social posts. But let’s face it—there’s only so much you can do (especially if you’re limited to only graphics and the written word).
Because it’s audio, podcasting opens the door to tons of creativity. Whether you want to conduct interviews, tell stories, host a panel, or something else entirely, you have the freedom to try new things and find the most compelling formats for your audience.
Of course, video offers a lot of room for creativity as well, but podcasting is typically more cost-effective.
3. You don’t have to break the bank.
Speaking of being cost-effective, your podcast doesn’t need to be an overwhelmingly expensive undertaking. Sure, there are plenty of people who invest a lot into their podcasts, but it’s not always a necessity—especially when you’re just getting started.
To get things rolling, you’ll need a decent microphone, a recording tool, some hosting software, and some show artwork. But, you can typically get all of that for under $100 total.
Of course, you can invest more money into things like high-quality editing or more advanced equipment after you get things up and running. But don’t make the mistake of thinking that getting started with podcasting is going to drain your marketing budget—because it doesn’t have to.
4. You have the opportunity to network.
Podcasting itself has a pretty solid community around it, which means you’ll have the chance to meet and interact with everyone from qualified audio editors to subject matter experts and fellow podcasters in your niche.
Even further, interviews can be a highly-engaging podcast format. This gives you the opportunity to invite your contacts to have a conversation and participate in your show. That’s a great way to engage your existing peers, customers, vendors, and more—while simultaneously giving them some increased exposure and reaching their audience.
It’s not always what you know but who you know, and podcasting is a great way to solidify those relationships.
5. You can strengthen your relationship with listeners.
Your business already has an audience, but it’s tough to maintain those relationships. They might read an occasional blog post or like a sporadic social media post, but you’re not doing much to actively nurture that bond.
That’s the great thing about podcasting: It’s a medium that people typically come back to again and again.
Your listeners are able to actually subscribe to your show and receive notifications whenever you post a new episode, so you can keep them engaged with your content (and your business).
6. You can improve your conversations.
Your podcast shouldn’t be one long marketing message, but including a few mentions of your products or services can be a great way to boost conversions and influence purchase decisions.
A survey of 300,000 podcast listeners found that a whopping 63% of the respondents had actually bought what the host had promoted.
So, while your podcast should provide additional value aside from straight advertisements about your business, briefly touching on what you offer can be a great way to secure some new customers and increase purchases for your business.
Getting started with podcasting might seem complicated, but it doesn’t have to be. Getting up and running can be relatively straightforward and is well worth it for the return on investment.
So what are you waiting for? Turn your idea into podcast reality, by engaging your audience, strengthening your relationships, and positively impacting your bottom line.