How to build a profitable podcast.
Let's welcome our guest writer Iva Radisich!
Starting a podcast can be a fulfilling experience in the long run, but in the beginning, you may face various challenges. If you persist through them, you can look forward to a satisfying journey.
Accordingly, let's delve into the most significant podcast challenges, and provide practical tips to help you overcome them.
A podcast is an audio broadcast available online for people to listen to. Whether it's during leisure time at home, or while performing tasks such as commuting, exercising, or doing household chores, listeners can easily tune in to podcasts. Unlike videos or blog posts, podcasts don't rely on visuals, making them easier to consume.
Beginnings are always hard, especially when you're a newcomer to a particular field. The fear of failure and uncertainty about where to begin can paralyze you from taking that first step. We, at bCast, encourage you to keep going, and not give up! As long as you are determined to overcome any obstacles, podcasting can offer huge benefits.
Drawing upon our experience in the podcasting industry, we have identified and broken down the five biggest podcast challenges that new podcasters commonly face. By understanding them and making proper preparations, you can be fully equipped to embrace the limitless potential of this dynamic industry and achieve your podcasting goals with confidence.
If you want to jump straight into learning, check out this step-by-step guide on how to start a podcast.
Whether you are an individual who wants to express yourself, build a community of like-minded people, and inspire others, or an entrepreneur who wants to grow their business, podcasting shouldn’t be ignored.
The popularity of podcasts is on the rise. Based on the most recent podcast statistics, the global count of individuals who listen to podcasts at least once a month is predicted to reach 464.7 million this year. This marks a 9.6% growth from the previous year and equates to 22% of all internet users. Simply put, one in five internet users is also a podcast listener.
Also, Spotify reported that podcast consumption growth has more than doubled since the pandemic began, and there are reports of huge growth in podcast advertising.
While podcasts can produce captivating audio stories that can reach a broader audience, it's crucial to maintain practical expectations, and acknowledge the potential podcast challenges that may arise.
New podcasters often face several obstacles that can be daunting, such as:
In the following paragraphs, we’ll discuss these challenges in more detail.
One of the biggest challenges for new podcasters is overcoming their doubts about whether they have what it takes to make it in this field. This fear can lead to imposter syndrome, which can cause them to hesitate when it comes time to press record.
The good news is that there are ways to starve the doubts so that you can take on podcasting with confidence. The beauty of podcasting is that it is your show - you are in control of what content you create, how you present yourself, and who you decide to collaborate with.
This means allowing your thoughts, and ideas to flow freely, without getting caught up in the details, or worrying about perfection. A famous quote from American writer Mark Twain can be applied to this: “The secret of getting ahead is getting started. The secret of getting started is breaking your complex overwhelming tasks into small, manageable tasks, and starting on the first one”.
Now that we've talked about how to build self-confidence, let's shift our focus to another significant challenge faced by new podcasters - creating engaging content.
Behind every good podcast is a carefully planned strategy. Planning your podcast content ahead of time has several benefits, such as saving time, money, and effort while improving the quality of your podcast in the long run.
So, in light of this, we are sharing some practical tips you can use to make a plan for your podcast content.
Talk about things you are passionate about. If you choose to start a podcast about a topic you like to research, and talk about, you will produce engaging content in the long run. Make it specific by focusing on the sub-categories of your niche. For example, if the niche you choose is travel,” a sub-niche could be “camping” or “backpacking.”
The name of a podcast is an essential element of its brand identity, and plays a crucial role in attracting listeners. It’s important to have a clear, and specific name. Once you have chosen the name for your podcast, you should check its availability on your preferred podcast app or via a Google search. If someone is already actively posting under that name, we advise avoiding using it out of courtesy.
A podcast script is a roadmap for your episode. You’ll improve its flow if you have previously written down a podcast outline. The majority of podcast episodes follow a three-act structure, which includes an introduction (Act One), the main content (Act Two), a concluding call-to-action, and an outro (Act Three).
This straightforward but efficient storytelling structure is well-known to listeners. After finalizing the outline, you can begin to work on each individual segment in more detail. For further guidance, check out our detailed guide on how to write a podcast script.
We recommend podcasters to publish new episodes once a week in order to establish a strong connection with their audience. This frequency allows podcasters to develop the habit of producing regular content, which in turn encourages listeners to come back for more.
Many people are afraid that podcasting requires high investments and a complicated technical setup. Fortunately, this is not true. Podcasting is a flexible medium that allows you to record episodes in the comfort of your own home using a basic computer, a quality microphone, and an awesome pair of headphones.
While high-end equipment is desirable, some of the most successful podcasts are recorded and edited with basic gear and widely available software.
To get started with podcasting, you will need:
If you choose to go for less expensive equipment, your total start-up cost for podcasting will be around $350-$400, or even less. So, you don’t need to worry about a high investment, as podcasting can be done on a low budget successfully.
Producing a high-quality podcast does require some technical skills. Many potential podcasters may delay starting a show due to concerns about the editing process, and ensuring the quality of their episodes before releasing them. However, the good news is that it’s a skill that can be learned with practice.
Podcast editing involves the removal of undesirable portions from your recorded audio. This is accomplished in most podcast editing programs by displaying a visual representation of your audio, known as a waveform. To remove unwanted sections, you simply identify them, highlight them, and delete them.
The production aspect of podcast editing also involves applying effects, and techniques intended to minimize background noise, amplify the volume, and subtly improve the quality of your audio.
As a beginner, you can get away with very little editing, and still achieve the desired outcome.
The most popular beginner audio software program is Audacity. It’s completely free and works on both Windows and Mac. Check out this guide to learn all the necessary information to get started with Audacity.
After recording your episode, you want to share it with the world. However, questions arise:
If you’re serious about growing your podcast, it's important to upload it to popular platforms like Spotify, Apple Podcasts, or Google Podcasts. YouTube is another option, where you can upload full episodes, or create shorter clips as videos, or YouTube Shorts.
To reach a wider audience for your podcast, you can leverage the power of influencer digital marketing. Start by identifying relevant influencers in your niche, and collaborating with them to promote your podcast to their followers. You can also use social media platforms to share teasers or snippets of your podcast to attract potential listeners.
Additionally, consider creating a website for your podcast where you can share more information, and updates.
If you're a new podcaster looking to overcome podcast challenges and succeed in this exciting field, the steps outlined in this post can help you get started.
First, work on building your self-confidence, and good habits. Then, focus on creating engaging content that speaks to your target audience, including choosing a topic, name, and outline that resonate with them.
Investing in the right equipment, and mastering the technical side of podcasting, such as editing, and uploading to popular platforms, is also crucial. And lastly, consistency is key to building a loyal audience, and growing your podcast over time.
To implement this advice, break each step into smaller, actionable tasks. For example, research different equipment options, and create a content calendar to plan your podcast episodes. Set achievable goals for yourself, such as recording and editing one episode per week, and track your progress along the way.
By taking these steps and consistently working towards your goals, you can overcome the challenges of podcasting and build a successful podcast that resonates with your audience. Good luck!