Why Every Entrepreneur Needs A Podcast
Podcasting is growing rapidly with 48 million weekly listeners and over 700,000 active podcasts. Experts believe the medium will continue growing and the U.S. could have 83.8 million people listening to at least one podcast a month by 2022. Podcasts are an interesting medium because their format lets anyone who is passionate enough to record episodes regularly produce high-quality content for a specific niche. They cover every topic you can imagine, and they also happen to be perfect for B2B marketing. The audio format aligns with the need to consume in-depth and thought-provoking content, to keep up with industry news or to make informed B2B purchase decisions. As an entrepreneur, you may find podcasting an amazing strategy for connecting with your audience, generating leads and establishing yourself as an industry expert.
Audio Content And The Omnichannel Experience
Omnichannel marketing is about providing users with a consistent experience from one channel to another and giving them a choice between channels to connect with brands or consume content. Podcasting can augment your existing omnichannel strategy by providing your audience with another way to consume your content. It can function as a primary channel for users who prefer audio content or offer a deeper dive for users who tend to skim through your written content. Here are some of the benefits of providing audio content along with using other channels:
- Your weekly episodes will help your audience stay informed about industry trends.
- You can deliver content that’s valuable from a personal or professional development point of view.
- The audio format allows your audience to engage with your content in greater depth.
- Your weekly episodes can generate traffic to another channel, like your website.
A Different Experience
Podcasts are more engaging and personal than other channels. You can address your audience directly or invite guests to your show and use a conversation format. A study found that 80% of listeners will listen to all or most of the episodes they click on, showing that podcasts tend to keep users attentive and engaged. Here’s why podcasts foster engagement:
- It’s easy to stream and download audio episodes and listen to them anywhere.
- Smartphones and tablets are fueling the rise of podcasting.
- In 49% of cases, users listen to podcasts at home, where interruptions can be limited.
- With 22% of episodes streamed while driving, podcasting is a medium users can consume during their commute, a unique advantage of audio content.
You also have to keep in mind that some individuals prefer auditory learning. They might find it difficult to retain information when they read, making written content unappealing. Presenting complex topics or issues in a dialogue makes them more accessible and allows you to get your point across effectively. The human dimension of a podcast is another non-negligible advantage. You can convey humor and emotion, creating a closer connection with your audience. Your listeners will really feel that they’re getting to know you and will strongly associate your podcast persona with your business or brand.
Extend Your Reach
Podcasting allows you to cover a specific topic in each episode. Users researching the topics you cover will come across your content, get the information they need and potentially subscribe or loop for more information about your business. Audio content creates new opportunities to reach out to users who might not hear about you otherwise. It also delivers in-depth information in a palatable format that keeps users from clicking away after a few seconds. Your show could help you connect with other industry experts who want to keep up with industry trends and news. Those connections could result in new business opportunities for you. As you develop your show, other industry experts will start seeing you as a leader in your field and refer to your show to discuss the unique perspectives you introduced in your weekly episodes. You should look into having some influential guests on your show. A professional with a strong social media presence will help you extend your reach by mentioning their appearance on social media, and recognizable names will lend credibility to your show. Listeners will share your content if they find it valuable. Releasing weekly episodes will create additional opportunities to extend your reach through word-of-mouth marketing. You’ll be able to reach an entire audience segment that isn’t interested in sharing and reading written content.
Costs And Revenues
One reason podcasting is such a popular medium is that you can get started with a small initial investment. You need quality recording equipment to achieve a professional sound quality, and you can use free or inexpensive editing software to put your episodes together. Producing a podcast is more affordable than working in other formats, like videos. You would need to spend more on recording equipment to produce videos and editing might be more complex. Failing to master details like lighting could make your video look unprofessional. Did you know that 54% of listeners think about purchasing the products advertised on the podcasts they follow? Podcasting is a valuable advertising medium because its audio format achieves a strong audience connection and you can focus on products that are relevant to your niche. You can turn your show into a lead generation tool for your business, or look for monetization opportunities to turn it into a source of revenue in itself. Reach out to sponsors and advertisers with interest in your targeted audience and make sure you promote products and offers that are relevant to your listeners. We believe that a podcast is a must-have channel for entrepreneurs and business owners because it’s very accessible, it’s a great way to connect with your audience and it’s a medium that yields results. Take some time to choose topics and a format that works for your audience, develop a tone or persona that’s relatable to your listeners and decide how you will promote your show. Don’t forget to set some specific goals for the show and identify metrics you can use to measure success and fine-tune your audio content.
Are you looking for additional advice on business growth and leadership? HJR Global can help with online resources on a wide range of topics, including business planning, funding, growth strategies and much more.