The buzz around podcasts is loud, and it’s only getting louder.
70% of the US population is familiar with the term “podcasting” (up from 64% in 2018), and 51% (144 million) of the US population has listened to at least one podcast (up from 44% in 2018). With the rise of massively successful podcasts like the groundbreaking Serial, the number of available podcasts has increased exponentially, whether for informational or entertainment purposes. Audiences love them because they can be listened to anywhere, at any moment, and are a great way to pass the time.
But podcasts are also a great way for audiences to learn about any given subject. Podcasts can be published according to theme (e.g., technology or productivity) and can be released by well-known or even relatively unknown hosts. Even brands and businesses have begun publishing informative podcasts as a way to communicate with customers.
If you are looking to sell a service or product, launching a podcast may be the perfect way to do so, because a quality podcast can reel in more business than you might imagine.
If you haven’t considered podcasting just yet, consider this: you won’t need a lot to start a podcast. You can set your own production schedule, create your own show format, select your own guests, and even set up your own studio. Plus, podcasts are ideal for telling stories — and as we know, storytelling is the foundation of any highly successful marketing strategy. The more quality content you put out about a topic relevant to you or your industry, the more likely it is that you will become known as an industry expert. With this perceived expertise comes trust and, ultimately, customer loyalty.
Your podcast can bring in money in other ways as well. You may sell sponsorships and advertising if you have many regular listeners. Or, you can work to sell your own product by giving a pitch at the beginning, middle, or end of your podcast.
17% of marketers plan to add podcasting to their marketing efforts in the next 12 months, and for good reason: research predicts strong returns in the years ahead, forecasting that podcast revenue will surge to $659 million by 2020, a 110% hike from 2017.