The Power of Podcasts: Why You Should Start a Podcast
Although podcasts are super popular right now, this hasn’t always been the case. Podcasts became a thing in early 2004 when they were available only on iTunes. They then grew to other platforms and became an attractive way to consume content. Podcasts are widely accepted because they are short and people can listen to them while commuting or getting other things done. Listeners find them engaging and more personal than other forms of media causing marketers to cash-in on the trend. Over $90 million was spent on podcast ads amidst COVID in 2020 and up to 63% of listeners say they purchase products recommended, or at the very least, mentioned on their favorite shows. In this post, we’ll explore how a podcast could be great for your business or organization and why you should consider starting one.
How Podcasting Can Change Your Business
In our digital world of today, content creation is at the heart of online business success. Podcasting provides businesses with a medium to create content for readied listeners. Through podcasting, you can build a brand within your community of loyal listeners that could become paying customers. Podcasting puts your brand out there. By creating value for listeners, you can build trust, visibility, become and expert in your industry and create awareness about your business or brand.
Just like businesses, nonprofits and other organizations can also benefit from podcasting. Creating content and episodes around what your organization stands for creates awareness and lets you build solid relationships with individuals who resonate with your organization’s message.
Podcasting in Figures
As of June 2022, the number of podcast listeners globally was 383.7 million. By the end of 2022, this is predicted to reach 424 million, and by the end of 2023 and 2024, this number is predicted to reach 464.7 million and 504.9 million respectively.
Furthermore, the podcast industry is currently worth about $2 billion. By 2024, this number is predicted to be doubled taking the industry to a staggering $4 billion.
What does this mean for your business?
Podcasting provides your business an unmatched opportunity. Imagine the possibility of even having 10% of 504.9 million people who are aware of your brand. Podcasting gives you the opportunity to reach as many people as you can. The opportunities seem endless. This also means your business or organization can get its share of the $4 billion circulating in the industry. This can become a new source of revenue for your business. For nonprofits, podcasting can become a source to increase donor ship to help the organization pursue its cause.
There are about 2 million podcasts worldwide but this should not frighten you. With over 300 million podcast listeners out there looking for content, there is more than enough room for your podcast to thrive. Podcasts are easy and even fun to create.
To get started, you just need to determine your target audience. Who would want to listen to your podcast? This would traditionally be your prospects. Don’t be afraid to shake things up and try targeting a new group of people who will appreciate your podcast topics. Strategizing your content to know what your audience will tune into is even more important than the production quality of your podcast. While recording quality is important, great content that keeps your audience engaged is paramount. This doesn’t mean you should not consider a good mic for your podcast. Having your audience understand you clearly is also something you need to consider. Not only the quality of the mic but the room you record in should not have a lot of ambient noises, echo in room, planes or helicopters flying by. Podcasting can provide you an avenue to generate content that speaks about your brand and attracts customers. Make sure they can hear you and your guests loud and clear.
If you’re still second guessing why you should start a podcast, here are some great reasons you shouldn’t underestimate the power of podcasts.
10 Reasons Why You Should Start a Podcast
Podcasts are free, easy and accessible on all kinds of devices. They are a great way to get in front of an audience of interested buyers no matter if an audience is in front of a computer or running on a treadmill. With over 90,000 podcasts streaming everyday, and millions of listeners, podcasts can become a powerful tool for your business.
Here are 10 reasons we love podcasts and how they can help increase visibility for your business.
- Accessibility and Fun
Podcasts are the most ubiquitous content available. Listeners can enjoy them across all devices and with the popularity of mobile devices, podcasts can be enjoyed pretty much anywhere at any given time. Podcasts have also proven to be fun for listeners and helps build your tribe. You can listen to them regardless if it’s just with the audio or your can watch them like The Joe Rogan Experience show. Many people find this fascinating and love to tune in while they go about their day. Listeners find their favorite shows intriguing causing them to continue come back for more. All you need to do is give them a show that they love, and its accessibility can put you in front of millions of potential listeners on several podcasting platforms. Just give it a go and stay consistent with your content creation.
- Easy to Create
Podcasting can be done anywhere and at any time. They are easy to create and what you really need is quality content. Of course, you need an internet connection but you most-like have this already. If you don’t, your local library will have a connection for you to use. Look into a decent mic (we have some recommendations) and you’re good to go. You don’t need industry standard recording gear as there are software you can run on your computer to record yourself. Get your content right, record yourself, and you have your podcast. This is how easy it is. Of course, creating a video version of your podcast takes more technical prowess, there are agencies like Seal Media who have “do it for you” services that make it a no-brainer to start.
With over 383.7 podcast listeners globally, creating your own podcast is a great way to open your business or organization to a new audience. They are also a great way to create brand awareness. Apart from your own organic audience, some ways to get new ears on your shows include being a guest on someone else’s podcast, inviting guests to yours, and getting recommendations and mentions from other podcasters who you’ve built trust with over time. Whichever route you choose, a podcast can raise your business stats and help grow your network.
- Great for SEO
If you do everything well, a business podcast can be great for SEO. An optimized podcast can drive traffic to your website. Going Live can increase more viewers on your social platforms. It can also build credibility for your business that earns you respect from the search engines and from potential customers. To leverage SEO from the power of podcast, ensure each podcast episode you host has an automatically generated transcript. This way, you can throw in keywords into your content that drives you traffic. Connect your podcast to your website and every time you launch another podcast, the new content gets triggered and picked up by the search engines like Google or Bing.
- Engagement & Storytelling
Podcasts are a great way through which listeners get their daily dose of the world with minimal effort. They don’t need to scroll or watch. Instead, they can carry on with their daily activities as they listen to the great content you are producing. The right podcast will tell a story about a brand or business and the people who enjoy your services or products. You can become a storyteller instead of recanting facts and figures about your business. People will remember a story before they remember some arbitrary fact. The story will resonate with them more than any statistic would. This can lead to increased engagement that can eventually bring in new leads. In a study, 63% of listeners confessed to buying a product because it was mentioned in a podcast that they trust. 71% confessed to visiting the website after listening. So, this makes podcasts a great way to get your name out there and advertise your products and services to an audience willing to take action.
- Become an Industry Expert
No matter the industry your business belongs, there is always an untapped opportunity in podcasting. Delivering high-quality content that your audience desires positions you as a thought leader and a go-to source for information. Identifying as an expert establishes trust between you and your audience and this makes it easier for them to do business with you. It helps build your K.L.T. If your customers Know, Like & Trust you, they are more likely to purchase from you.
With podcasting, you can make it clear the things you know and how well you know them by talking about them. You can can share stories. You can also show your connections by featuring people who you know. By discussing important aspects of an industry and featuring notable individuals in that space, you are establishing yourself as an authority in your field.
- Features and Collaboration
Podcasting possibilities are endless. Featuring customers for testimonials and collaborating with fellow podcasters allows you to engage with your audience better by doing something different. It is possible to invite a client to your show and have them discuss problems they faced and how your business helped them solve it. Notable people in the industry can also be featured to talk about important topics in that space.
Your business or organization can collaborate with another podcaster in the industry. This can open your podcast to a readied audience in your niche that you’ve not previously explored. Having them air your podcast or featuring them lets their own audience know about what you are up to.
- Becomes a Source of Revenue
At a time when businesses need to diversify their income, starting a podcast is an effective way to do this. For organizations like non-profits who rely on donations, placing ads on your shows is indeed a good way to generate more money for the good cause you’re spearheading.
Unlike other advertising mediums, podcast ads are less intrusive. It isn’t a pop-up or a video ad. Instead, it is you the podcaster promoting a product in your natural tone that flows with the rest of your podcast. This gives the promotional material a personal feel that’s different from video ads which viewers are only waiting patiently to skip.
- Leverage Your Content
As a business, chances are you have a website where you run a blog to engage your audience. A great way to recycle all the content you’ve invested time to create is to turn them into a podcast. Yes, you can do this. Turning blogs and video content in a podcast series or episode is a way to target a new audience with a piece of content that is proven to deliver results. Content repurposing or leveraging content also saves you time while quickly giving you fresh content for new episodes. Before turning an old piece of content such as a blog into a podcast episode, go through it and make necessary edits to ensure you maintain your flow and tone. You can also take long form podcasts and make small bite sized snippets of the content. Then, post those smaller clips to bring awareness to your podcast. There may be interests in listening to your podcast but might not have time to listen to a full episode. Give them reminders with small snippets of your content.
- The Audience is There, Attract Their Attention
From social media posts to YouTube videos, users are on the internet for a single purpose – to consume content. What really makes a difference is how this content is consumed and what type of content it is. With over 300 million podcast listeners, there is a large chunk of people out there that will gracefully consume your content, and these people can end up buying your product once they trust you. Again, the K.LT. marketing principal. A podcast can help you build that trust. All you need to do is create valuable content that your audience loves and continues to come back to you for more.
If you have been thinking of starting a podcast, there’s no better time than right now to do so. You can enhance your business results through the right podcast techniques. Podcasts are an opportunity for you to reach new audiences and promote your business. The returns are huge and that’s an opportunity you should certainly take. At Seal Media, we can help you get started on your podcast creation journey. We have done it for you podcasting services with studios in LA and OC. Reach out to us and let’s explore the amazing opportunities out there for podcasting.
Anderson Seal is an award-winning filmmaker & business owner since 2007. A graduate of Cal State University Long Beach, community advocate, father, & husband.