When you hear the word “podcast”, chances are the first thing that comes to mind is Joe Rogan. And that’s no surprise because “The Joe Rogan Experience” is the most popular podcast in the world with more than 12.6 million subscribers on its YouTube channel.
Since Spotify acquired Rogan’s podcast, the company’s shares increased in value by 7%. But you don’t have to be as successful or popular as the comedian/fight commentator to start a podcast that can do wonders for your business.
What Is A Podcast?
Before the podcast, we had Talk Radio. For many of you, Talk Radio is the equivalent of the fax machine when compared to e-mail.
Listeners would tune in to their favorite radio stations on the way to work and listen to 2 or more participants in a radio show engage in a lively conversation about the most compelling events at the time.
A podcast is Talk Radio on the Internet. Instead of turning on the car radio, you open an app or access a website on your smartphone. You’ll listen – or watch – the podcast host engage guests in lively, compelling, and sometimes controversial discussions.
Why Are Podcasts So Popular?
According to statistics published by BuzzSprout, the podcast audience has increased by 29.5% over the past 3 years, and there are an estimated 120 million podcast listeners in the United States alone.
The growing popularity of podcasts has become a global phenomenon. The media is quickly gaining popularity in countries such as Chile, Argentina, Peru, Mexico, and China.
So why are podcasts getting popular around the world?
The answer is simple.
Unlike Talk Radio where the choices are limited, podcasts cover a wide range of topics. You can download podcasts that touch on anything and everything; from the most relevant issues to the most mundane.
And for many of these podcast shows, nothing is off limits until they’re sanctioned by the Federal Trade Commission (FTC).
5 Benefits Of Having A Podcast For Your Business
The podcast is no longer considered a passing fad but a way of life. Having a podcast is a proven way of building your business. Here are 5 of the known benefits of starting a business podcast.
1. Give Your Business a Voice
The first step in producing a business podcast is to find out what topics or subject matters interest your audience. Listening to a podcast that addresses these issues makes your audience feel like you’re talking to them directly.
With a podcast, you’re no longer just an image on a website or on your social media pages. Not only can your audience hear you but they’re more engaged. In many podcasts, the host invites listeners to get involved by phoning in or texting their questions to the show.
Converse with your audience in real-time. Show them that you’re an expert in your field by providing them with solutions or proposed courses of action to their problems.
This high level of engagement helps build stronger, long-lasting relationships with your audience. They finally got to interact with you and develop a better understanding of who you are. Listeners who are tuned in to your podcast will have a good idea of your approach to business and how you deal with customers.
Likewise, a podcast will do wonders for your brand. Your audience will view you as someone who’s approachable, real, and authentic. You don’t hide behind some paid manager and you’re willing to talk to anyone who’s interested in your business.
2. Talk About What Matters to Your Business
Hearing you articulate your thoughts, ideas, and opinions about your business or the industry in a podcast has a more powerful impact than reading them on social media.
Your diction, the way you drive more emphasis on certain words or terms, even the “uh’s and um’s” plus your interactions with guests make podcast discussions more compelling and engaging than social media posts.
The podcast will help you connect with your target audience; those who agree with your statements and find your opinions and ideas relevant to their needs and interests.
And you control the discussion. You can talk about the issues, problems, and concerns that matter to your business and the industry.
When talking about the issues that interest your listeners, as the podcast host, you build the narrative from your perspective. A podcast gives you a platform to speak what’s on your mind.
3. Gain Fresh Insights
Inviting the most respected resource persons on your podcast will not only drive more listeners to your show but will also help you gain fresh insights about your business and the current state of the industry.
You might feel like “class is in session” every time you have a podcast. Industry experts will openly share with you their ideas about trends and key issues before these opinions hit social media.
The interview process gives you opportunities to navigate the discussions so you can dig deeper and gain a more comprehensive understanding of the industry.
And it’s not just from resource persons you have onboard as guests on your podcast that you gain insights. Your audience – the ones who call in or text their opinions – are rich sources of insights as well.
Remember, that no one has a monopoly on the answers to the toughest questions. Differences in perspectives allow people to view situations from different filters.
A podcast creates this type of open forum on the Internet where ideas can be freely shared. Think of a podcast as an Internet-based brainstorming session with your followers and guests.
4. Expand Your Reach
Hosting a podcast will give you another platform to build an audience from. People listen to podcasts on the way to work, while walking around the park or on the treadmill at the gym, or with their coffee. They find listening to podcasts a relaxing way to while away the time.
If your podcast is good and people enjoy listening to you, they will share it with their respective communities. They will talk about your podcast as the latest “Internet discovery” or recommend it as “must hear” programming.
Social media is a proven way of expanding your reach. Including a podcast will provide you with a new type of content to share on your social media pages.
Announce the date of your next podcast on Facebook, Twitter, and your other platforms. Include important details about the podcast such as the time, your guests, the topics of discussion, and of course, the link to the show.
You can also upload episodes of your podcast to your YouTube channel and embed the link to a page on your website. This way, site visitors will get to see and hear you first-hand.
Listening to your podcast and discovering how you articulate ideas and present solutions to your audience might convince the website visitors to hire your services right away.
5. Create a New Stream of Income
Joe Rogan didn’t get paid US$200 million overnight. He spent years nurturing his podcast and building his audience before Spotify felt his show was worth making Rogan the US$200 million man.
You might not make Rogan-type money but your podcast can still become a good, viable new source of income for your business.
- Become an affiliate marketer and get paid by companies for every sale of their product generated by your podcast.
- Entice companies to buy ad space on your podcast.
- Have resource people pay you to be guests on your podcast.
- Promote and sell your products and services.
Again, these streams of income won’t materialize right away. You have to constantly work on your podcast and make it bigger and better. With dedication and consistency, you’ll find more people tuning in to your podcast.
When should you start a podcast?
There’s no time frame on when you should start a podcast for your business. If you feel you can set one up and gain traction – go for it!
However, we recommend that you start a podcast after you’ve built a solid customer base and/or a big social media following. Having either one of these conditions exist will make it easier for your podcast to find success.
Make no mistake about it – while a podcast can make your business grow – it takes time and plenty of work to get a regular audience tuned in to your show.
While a podcast isn’t expensive to set up, be prepared to shell out some money to buy good audio/video equipment, podcast and video editing software, lighting, and perhaps a podcast set background.
In a future article, we’ll discuss how to start your first podcast for your business. As mentioned, you’ll get a wider audience for your podcast if you have a website. Give us a call or an email and we’ll help you get started on your business website.
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