The Insane Impact Starting a Podcast Can Have on Your Business
There is no denying podcasts are huge right now.
Available when people want them — and where people want them, it’s no surprise this easily consumable form of content is so popular. And marketers are taking notice. In fact, 17% of marketers plan to add podcasting to their content marketing mix this year.
As the number of podcasts available continues to grow exponentially, it is still possible to thrive in the industry. There are shows tailored to just about every niche interest out there. More and more platforms are now streaming podcasts as well, increasing access for listeners. Just this year, 43% of monthly podcast listeners say they have listened to a podcast on Spotify, and 35% on Pandora, two platforms which were traditionally just for music. More people are listening to podcasts than ever before and it doesn't look like this upward trend will be losing steam anytime soon.
So why should you create a podcast for your business?
Diversifying the content mediums available to your target audience is the best way to get on the fast track to becoming a key leader in your industry. Create a podcast specifically for you or your brand, and you will see a the following powerful things happen.
A podcast will help you get closer to your customers.
A well-crafted podcast can nurture your relationship with your customers. Podcasting is a great way to speak directly to users so they can become more familiar with your brand, business, and product offerings.
Did you know that 54% of podcast consumers say that they are more likely to consider the brands they hear advertised on podcasts? Great relationships are built on trust, and with podcasts, the access you get to your audience will help you better reach them to explain your mission and values. When you provide educational, informative and valuable content to your audience, they will feel a closer connection to your brand.
Podcasts help compel individual buyers.
With a podcast, you will get to speak directly to your current and prospective clients. What sets podcasts apart from other media is that they are able to speak directly to a single person.
Listeners typically consume podcasts alone — perhaps in their car while they're commuting or when running errands with headphones in. Although your podcast may have thousands of listeners, you will have a powerful opportunity to speak to the listener one-on-one, inspiring an emotional reaction to your brand and fostering a stronger relationship with your customer. Plus, you're able to reach your audience in a different setting outside of the office. In this way, podcasting helps cultivate brand loyalty and provides an experience that encourages customers to evangelize your brand.
It's a chance to hone in on your messaging.
Having trouble communicating a clear and concise brand story? Use podcasting as a chance to take the time to sit down and define your brand story and value proposition.
Employ more cost-effective marketing.
Podcast production is likely quicker and more affordable than you would think. Plus, podcasts are an excellent way to utilize content you've already invested time and resources into creating. Smart marketers can repurpose their top blog posts and popular case studies into podcasts to both create new content and reach your audience in a new way with their favorite stories.
Podcasts are also a growing source of revenue for businesses. Most podcasts are evergreen, meaning they are designed to stay relevant long after they are created, According to IAB, podcast revenue will surge to $659 million by 2020 and will continue to grow year over year. With podcasting, you will have access to a new audience and the chance to share your brand story in a new way.