How to build a profitable podcast.
Nowadays, it is harder for people to consume content based on videos and articles because they are busy and can't give such forms of media the attention they require. Podcasts make it easier for people to multitask and allow the host to get their message across while the listener is doing other important things. As a result of this, podcasting has become a useful tool for content creators, marketers and advertisers to organically attract people to their message.
In 2018, studies also showed that brands spent $479 million on podcast ads. That number is expected to more than double in 2021, with advertising revenue predicted to exceed $1 billion annually:
Starting a podcast is relatively easy if you know your the requirements, all you need to do is follow a few simple steps and voila! You are on your way. When launching your podcast project you need to know:
It is crucial to come up with a plan when starting on a podcast. Setting a clear goal will help you outline your shows' content, target audience, format, and your marketing goals.
Creating a podcast topic for your show should depend on your passion and expertise. It would be best to choose a consistent topic that you are comfortable with talking about for a long time without losing interest.
Understanding your target audience is essential to starting a podcast; you have to keep in mind the people that will listen to your podcast and appeal to them. It has to be people that can relate to the same topic and are as passionate about it as you are.
Your podcast format largely depends on your chosen topic and the information you intend to talk about. I cannot overemphasize the importance of consistency when selecting a podcast format, changing things every episode will leave your listeners confused. With a clear format, they know what’s in store for them and look forward to each new instalment once they become familiar with your style.
Choosing a podcast name is one of the most important things to think about when you start a podcast. Your podcast name has to be descriptive and catchy while also appealing to your audience and clearly outlining what your podcast is about. You must also ensure it is easy to pronounce and search.
After going through podcasting's critical aspects like picking a topic, choosing a format, a name etc the next step to take will be to launch it. It would be best if you were sure the episodes are great and well-edited for public consumption.
Creating a trailer is an essential step; you must create valuable content before your launch to keep people looking forward to your big day. You need to make sure that you update the launch date on your website and all your social media platforms.
Here is an example of a podcast trailer:
A couple of episodes must be readily available on the day of your podcast's launch, this will help familiarise your audience with what they can expect from your show. However, you do not want to overwhelm them with loads of episodes, so I recommend uploading no more than three to five episodes on the launch day.
It would help if you had the equipment to record your podcast, and a good PC is a necessary piece of equipment. Get a good computer to record your podcast as well as for editing. You might need to get one with a reliable battery for times when you need to record away from your chosen studio.
Your mic quality determines your sound quality. You need to have an excellent mic to produce great sound as it is your voice that differentiates you from other hosts. Without good sound, your listeners might stop listening to you, no matter how good your content is.
In some cases, you only need to use a USB mic, but if you want to make your audio quality better, you need a mixer. There are interfaces and mixers, which both do the same job. The only difference is that you can control sound levels on the mixer.
Using a good pair of headphones will help you a lot as you can listen to how you sound before you start editing, helping you detect mistakes earlier in the process. There are open-back headphones and closed-back headphones. It would be best to get the closed-back headphones as the open-back headphones release sound into the microphone, compromising the integrity of your sound quality.
Without recording and editing software, you cannot sample your voice or edit it cleanly. Each different type of editing software will have different features that will help you erase noise and unwanted sound. The different types of editing software include Audacity, GarageBand, Descript and many others. Some of these types of software are "open source" (free to download and use).
You might not think of this as equipment, but it is essential for good recording. Occasional episodes can be recorded outdoors, but a regular podcast show needs a quiet and padded place to record. If you record in a noisy environment, it will affect your sound quality and create an unpleasant experience for your listeners.
If you can't afford expensive sound-proofing equipment, try recording in a room with a lot of soft furnishings placed around you, like curtains, sheets, books or mattresses. Some people have constructed home recording booths using pinned up sheets, mattresses propped up against walls and even recorded their audio inside a wardrobe filled with clothes.
These environments will help absorb/deaden the sound that escapes while you're recording and reduce background hiss and electrical noise from things such as lights or other equipment.
There are many different kinds of the podcast formatting available to you. There is the monologue format, interview format, co-host format, story-based format and several others. Your choice of format should be influenced by the podcast theme, the segments, the script, and the show's length.
Deciding your podcast episode length will help you set a clear structure. The length per episode can be influenced by the genre, frequency of episode release and other factors. You might want to start with short duration episodes as a new podcaster to see your show's reception.
A podcast script is fundamental in adding structure to your podcast. It helps your show have a good flow, and allow you to have confidence when talking.
It could be bullet points or a more comprehensive script. Either of these will help you determine the pacing of your show from the start. They also enable you to decide the flow of the interaction you have with your guests.
Podcast directories are aggregators of different podcast shows. Listeners know them as a platform where they can get every episode of their favourite podcast. If you want your podcast to get more listens and be discovered easily, you need to get it on podcast directories.
Several podcast directories such as bCast, Apple Podcasts, Google Podcast, Spotify, Chartable and many more exist. All you need to do is open a profile for your podcast on those platforms and submit your RSS feed to them. It is one of the easiest ways to promote your podcast.
Social media, as we know, has enormous power these days. The number of users across different social media platforms runs into the billions. If you want more people to pay attention to your podcast and encourage growth, you have to find a way to get your content on social media.
You can do this by making your content into different formats. You could take a quote from your podcast episode and make it into graphics, audio or a video for social media. You can also share your podcast link on your social media account and contact influencers to promote it to their audience.
Your podcast should aim to get the conversation going. Depending on your podcast's format, you want your audience to ask you or your guest questions. One of the ways to promote conversation for your podcast is through social media.
You have to be ready to start and engage in conversations with your audience. This way, they can look forward to what you have to say and ask questions directly, knowing that they will get a personal response. These interactions will make them feel close to you and trust you more. Even if you want to promote a product/service, this method will help you as they will have built up a level of trust in you and the decisions you make.
As a podcaster, you must not isolate yourself. Other podcasters have either been in the game longer than you or have a different audience to yours. By collaborating with them, you will give your podcast more exposure, which might lead to a mutually beneficial sharing of listeners. Podcasters in your niche can also introduce your podcast to sponsors and give you advice on how to grow your show.
You have to study your audience to know when to publish your podcast. This is an important observation as it can massively increase visibility for your podcast if executed correctly. If your audience listens to your show more on particular days, you should publish a new episode on those days.
This is very important as some of your audience prefers to read show notes before listening. Some might even miss an episode as they do not have time to listen, but they can always go on your website to read a summary of what happened.
Another way that website optimization can help you is with visibility. If you run an effective SEO for your website, it will pop up in searches on the web for the topic you talk about. This way, users that discover you on the web can become listeners if they enjoy the content.
In summary, podcasting is no easy task... especially in 2021... but if you follow these steps and remain consistent throughout this year and next, you will find success.
As always, feel free to email us at email@example.com with ANY podcast related questions 🥸