How to build a profitable podcast.
Podcasting has become a media tool that marketers embrace, even as it is yet to fulfil its vast potential.
Several marketing podcasts and many podcast ads in circulation show how much podcasting has crept into the marketing industry.
If you need a new marketing strategy or looking to expand on the current one, podcasting is your answer.
Podcasts are rugged, versatile, and contain a lot of information. With the number of hosting platforms in existence right now, the level of brand awareness you can get is high.
Podcasting has such a vast potential that you have to question marketers that are yet to explore the medium.
Suppose you are in doubt about the potential of podcast marketing. In that case, this article will open your eyes to the many possibilities that lie there.
Here are some statistics to show you how popular podcasts have become within the last five years.
There are tens of millions of the population that listen to a minimum of one podcast per month.
That’s a massive pool of potential audience for marketing. Statistics from Podcast Insights show that over half of the United States population has listened to a podcast show at least once.
Marketing podcasts are not so much as they should be yet, so there is a lot of room to explore in that regard.
As of 2020, only about 3 percent of marketers in the US make podcasts. This number includes expert marketers and marketing companies.
Less than 1 percent of podcasts on iTunes are under the Marketing category.
This implies a growing gap that needs to be filled by podcast marketing, as millions of listeners need audio content.
All you have to do is fulfil their needs by giving them excellent marketing content. There is also the option of advertising on other podcast shows if you own a business.
Businesses reach their target audience through podcast marketing by buying ads on podcast recordings.
The ads are played in the podcast episode. The more downloads that the podcast episode gets, the more the reach of the ad. And this where podcast ad spends comes in.
You might want to know just how much has gone into podcast advertising within the past few years.
About $90 million was sent on podcast ads in 2014. In 2015, it grew significantly to over $105 million, and went up further in 2017, to $313 million.
For at least a year, over $500 million went into podcast ads.
This level of spending on podcast ads results from the audio content value within the last five years.
The potential of podcasts for marketing is yet to be fulfilled, but it has grown significantly.
Marketers have now recognized the power of podcasts, and the value will keep increasing as people are hungry for content.
Let’s find out how deploying a podcast marketing strategy can help your brand grow:
Most podcast shows have a specific topic that they cover. Like a target...
Podcast marketing gives you the liberty to get your services and products to a niche audience that is more likely to show interest in your offer.
With this level of specificity in audience targeting, podcast marketing ensures that your adverts are effective, delivering significant ROI.
It is also an opportunity to reach your customers online in their zone, which allows for one-on-one conversations that increase your value.
Marketing is all about getting yourself out there in the face of your audience.
To do this, you have to create conversations between you and your audience.
Podcasts might not allow a back and forth conversation on the spot.
Still, it gives the listeners the opportunity to know the host on a personal level.
This way, there is a connection established, which in time turns to trust and shows authenticity.
You might write so well about why your business is the best option for a customer, but showing it takes it to another level.
By the end of a podcast show, listeners will feel that they now know you, which creates the eagerness to associate with you and your brand.
A report by Forbes shows that iTunes is a page-one-ranked website, and there is always a link to the show’s website for every episode.
When sponsoring or advertising on a podcast show, there is usually a link that takes the listener back to your website. It might be a link to your products and services, and they are generally in the show notes which get published on the website.
This way, SEO goodies transfer to your business, and this is an affordable method of boosting your SEO struggles. It is a great way to increase your SEO, as podcasts are tagged as evergreen content. This means they can stay relevant and gain traffic organically for months and years in some cases. Podcast marketing gets you these benefits.
Building solid relationships is the essence of marketing.
There are several relationships you could create, from business to business relationships to business to customer relationships.
Podcasting allows you to take the conversation even further, as you can invite customers on your show to give reviews.
This way, you are making them feel like family, and they can trust you to always offer them the best.
The partnerships you build will go a long way in selling your products.
If you are into business marketing, podcasting is also a great way to connect to other businesses.
You speak as an authority as you share valuable knowledge, and they can trust every word you say.
Podcasts have been proven as a sure means to drive sales and increase business revenues.
As of 2019, podcast revenue was predicted to exceed $514 million, which tells how effective it is.
Podcasts have also been established as a purchase intent driver.
This varies across different categories—a 9 percent lift for podcast ads on culture and society shows.
In comparison, it increases to 14 percent for podcast ads that focus on business podcasts.
The knowledge shared on marketing podcasts creates a high level of trust that drives sales.
Customers need to trust you to buy from you, and that is what podcast marketing offers you.
People go out every day.
They use different means of commuting, podcast shows can easily be their companion on this everyday journey.
Also, people who have smartphones can easily listen to podcast shows during an activity.
Podcast content is audio, and it doesn’t require visual attention, which makes it a convenient form of entertainment and education.
Podcasting allows small businesses to access a market that only a few have access to.
Podcasts give the consumer a comfortable experience and help them make the best use of their time without carrying extra stuff.
Podcasts are highly engaging, and this is because it is easier to consume audio than text.
Listeners have a longer attention span for audio for this reason.
Statistics show that as of mid-2019, about 80 percent of podcast listeners listen to most episodes of a show, and they average about seven shows every week.
Also, listeners who subscribe to a podcast do not need to be targeted anymore with PPC advisements.
New episodes automatically download to their smartphones, making it easier for marketers to reach old listeners.
Your consumers want quality content, if you keep delivering rich content, they will keep listening and engaging.
Companies can target a new market through podcasting.
The type of market that they might not have reached ordinarily.
Podcasting isn’t all there is to marketing, instead is the only tool for marketing, but there is an enormous market waiting to be tapped.
A demographic is always on the lookout for fresh podcast shows to listen to, and your show might be the first time they learn about your type of business.
The higher your level of awareness, the higher the conversion rate.
You must always include a clear Call to Action after each episode to increase traffic and help the consumer access your product or service.
Podcasting is still a growing marketing tool, and there is still little competition for companies that use it.
Podcasting is a marketing tool that helps businesses establish themselves as an authority in their industry.
Podcasting slows you to speak, and you can use this to demonstrate why your company is the best option for the consumers.
Podcasting can help you create a unique image for your brand as it allows for a lot of creativity.
Producing a podcast show doesn’t have to be cost-intensive, as there is the right equipment for every budget.
Once you have the necessary tools like the microphone and software for recording and editing, you can create podcast content.
In summary, a podcast can become a powerful part of your marketing arsenal... just ensure you get your positioning right, are consistent and choose the right podcast hosting platform ;)