How to build a profitable podcast.
Let us welcome our guest writer Brijesh Vadukiya!
Technology is evolving day by day, and new concepts and technology trends are creating their ways in the market every day. The transformation of digital media has been fruitful, and audio concepts like podcasts are giving great opportunities to aspiring content creators and marketers. Content creation has been at its peak, and people are fond of a variety of content in the internet world.
Podcasts being one of them which has gained rapid popularity in recent times. The audio content is creating a good impact, and people are consuming content like never before. The marketers are trying their luck in the latest marketing concepts like Podcast marketing and moving on from the traditional methods.
Podcast marketing is a brilliant concept and before we elaborate this marketing concept let us know more about podcasts.
The podcast is a conversational series of episodes that are recorded and uploaded on the podcast platforms on the internet. The conversations have a host and a guest where a host asks questions and interviews the guests. The podcasts are generally informative, entertaining and motivational. People can gain a lot of knowledge, experiences, information by listening to podcasts and are somehow attached to them. Hence, podcasts are the radio of the internet world.
There are amazing platforms that give opportunities to release podcasts, and business people are trying these methods to promote their services and give information to people about the products.
Podcast marketing is the new way of generating content for marketing. The audio content is created to promote the business model, its services, products, and much more. Digital marketers have focused on content marketing over the years, and they are aware of the concept of generating the content and integrating it with the marketing.
In podcast marketing, the only difference is to generate the audio content and not the blogs for marketing. The informative and knowledgeable audios need to be created and focused on so that the maximum people consume, which will give healthy traffic to your business.
The audio conversation will create a bigger impact, and people are enjoying the podcasts already, and there are some of the points that people would consume and won't forget which is a good advantage. The blogs or articles cannot create as big an impact as podcasts can, which is why podcast marketing will be the next big thing in the marketing world.
The modern world is dominated by technology and the internet. The internet world is full of content which fascinates people. The internet has a lot to offer, and the response from the people has been phenomenal. The podcasts platform has gained enormous popularity, and businesses have started taking advantage of it.
The streaming platforms for podcasts like Apple Podcast and Spotify have become so popular for their informative, storytelling, and interviewing approach in the podcast category. Businesses can also stream podcasts on their personal sites or platforms. Business marketers can create podcasts for storytelling about their journey, their innovation, products, motivations, success, etc., in whatever ways which can create awareness about their venture.
There has been a positive response and growth of the podcast market since its inception. The number of podcast listeners is increasing day by day, and more and more business marketers are integrating podcast marketing to strategize and boost their business.
According to Hubspot, nearly 20% of marketers are willing to integrate podcast marketing.
The stats suggest that more than 50% of podcast audiences are likely to buy things from the advertisement or products promoted in podcasts. (eMarketer)
The advertising and promoting the products through business podcasts upscale customers' purchase intent by 14%, which is good from the business point of view. (Grow Your Business)
According to Forbes, almost 40% of the MSME business owners are podcast users.
According to Statista, the podcast listeners will reach more than 130 million in the US alone by next year, which means the worldwide users will be massive, and the overall impact will be huge. Hence it proves that business people have a lot of scope and opportunities with podcast marketing as the listeners are increasing rapidly.
More than 60% of the podcasters believe that building networks and gaining audiences are the most formidable challenge initially when starting podcasting.
The podcast market has grown a lot, especially in the US region, which is considered the pioneer of the podcast concept. According to Statista, more than half of the US population have listened to podcasts, and their popularity is increasing rapidly. Their reports also say that every 2 out of 4 podcast listeners tend to learn more listening to podcasts.
Apple and Spotify are the major streaming platform podcasts, and they are very popular among listeners. Apple is the most popular, getting tough competition in the market from Spotify in recent times.
According to Oberlo, more than 30 million podcast episodes are available in the internet world, which is increasing at a rapid rate. Also, more than 60% of listeners are using either mobile phones or tablets for listening to podcasts.
These statistics have certainly lightened you up and now may be keen on starting your podcast marketing. Hence, we will discuss some of the reasons why marketers should leverage the power of podcasts for marketing which will be beneficial for their business model.
Looking at the current pandemic situation, people are finding ways to find some entertainment and a medium to pass their free time. Podcasts are for sure one of the things they tilt towards in such a situation as most people choose to stay at home, avoiding unnecessary outings due to the covid pandemic. The scope and opportunities are suggesting that marketers should leverage the power of podcasts for their business growth right now.
Just like blog marketing, the podcast is the audio content marketing that will drive traffic to your websites with your marketing efforts. The podcast that is very informative and engaging will create more interest in the listeners' minds, and they would like to engage more with you; in such scenarios, they will find your website that you can easily link with the podcast. Hence, the podcast can increase website traffic, which means the higher the chances of conversion.
The podcast market is growing and getting popular, and considering the fact that more and more people are getting influenced by it, marketers should be keen about it. Business people need to take advantage of such aspects to leverage their awareness, and their business will be more visible to the audiences.
Podcasts can certainly be a winning digital marketing strategy as they can give you organic business growth in the internet world. The digital marketing using the podcasts will give growth to the business once your podcast starts influencing and inspiring people. Your business will be more accessible to the targeted audiences as you are more focused on creating good audio content. Thus, the verticals that the podcast can be claimed as winning digital marketing strategies.
Podcast marketing will boost and expand the business reach as it can go viral in the internet world, which is open to all. The capability to expand reach is the significance of podcast marketing. The traffic of genuine and relevant customers will be created, and more engagement with the users is done with the help of podcast marketing.
Podcasts do create an impact, and hence modern marketers are also focusing on it for nurturing the loyal base of customers. To keep people interested in your business, you need to craft a podcast focusing on them and increasing the customer retention ratio. The audio content will keep them interested in your services and products.
Hence, there are various benefits of podcast marketing that inspire modern marketers to leverage its power. Don't be late, and kickstart your marketing campaign by launching your podcast for business. You need to learn the basic art, which generally consists of storytelling, creativity, fun, humor, inspiring, etc.
The other important things like recording software and digital tools are important to set up for your podcast marketing. You can easily find cost-effective solutions in this tech world. The good thing about podcasts is that you can also earn from them through ad revenues generated from your podcast. All you need to focus on is to create and make more engaging audio content that will allow more people to listen to it.
There are numerous business podcast episodes available that will give you the inspiration to start your podcast, and you can also learn the etiquettes of running a business podcast. If I would like to name a few of them, it would be Entrepreneurs On Fire, Smart Passive Income, and Youpreneur. These are the top business podcasts that can certainly inspire you and help you in sharpening your marketing efforts.
Entrepreneurs On Fire
Entrepreneurs On Fire is a well-known business podcast that inspires many aspiring entrepreneurs and guides them on the path of glory. It consists of more than 3k episodes and has been gaining more and more popularity recently. If you want to get some inspiration and know the hook and crook of the business world, you must listen to this podcast.
Smart Passive Income
Modern marketers looking for strategies for empowering their businesses should listen to this well-known podcast named Smart Passive Income. There are numerous episodes that guide marketers with exceptional marketing tips and ways to generate income in different ways. The out of the box strategies described in it can be very helpful for modern marketers.
Youpreneur is a popular business podcast run by Chris Ducker who is a serial entrepreneur who guides his podcast listeners for empowering their business. His podcasts cover business launching to marketing and generating sales. It is the podcast that modern marketers should listen to for great inspiration.
Podcast marketing will change the way marketers do their marketing as the audio content will be more focused on in the coming years. The podcast growth is unstoppable, and that will give the modern marketers the cushion to implement podcast marketing in their venture. Hence, podcast marketing is a remarkable concept that will add value to the business, and one should surely put their weight on it.