Why You Should Start a Podcast for Your Business

Podcasting may be the missing link in your branding efforts!

The one thing Microsoft and Michelle Obama have in common is that they both run their own successful podcasts. Podcasting has grown exponentially during the pandemic, with the number of podcast listeners rising from 274.8 million in 2019 to 383.7 million in July 2021.

The growth of the podcasting industry provides businesses with a new space to market themselves and reach a wider audience. In fact, podcasts have a 47% higher engagement rate on radio and 27% higher on TV, making them a great advertising tool. Need more conviction? Here are some of the top reasons why you should start a podcast for your business and some tips on how to do it:

Benefits of starting a podcast for your business

To build deeper connections with customers

Podcasting is an intimate form Communication. People love to listen to podcasts not only for the content, but also for the usability. After listening to episode after episode of a podcast, people learn more about the host(s). Podcasts make listeners feel like they know about jokes or events mentioned in other episodes. This helps you build personal connections with listeners and build trust. The greater the trust, the higher the chances of someone buying a product or service you offer.

Easy content consumption for your customers

Unlike other forms of content, like videos or blog posts where the consumer should give 100% of their attention to what you’re trying to discuss, people can listen to podcasts while doing something else. Also, since the average time a user spends on a webpage is less than a minute, you need to be brief with your blog content. Most podcasts, on the other hand, are at least 20-40 minutes long, giving you plenty of time to incorporate everything you want to tell your potential customers.

Cheap to produce

You might think that adding a new marketing feed is going to put a dent in your business’ wallet, but that couldn’t be further from the truth. All you really need to start a podcast is a microphone and a host. You don’t need a professional studio to record; a quiet room would do just fine. If you record and edit everything yourself, it will cost you no more than 20 US dollars per month. You can also outsource your podcast production to a productive service for as little as $500 if you want to avoid the extra work.

Content can be reused

Another advantage of producing podcasts is that you don’t have to put your finished content only on streaming platforms. You can also use clips from the episode as content for your company’s social media handles. These clips could be the most interesting snippets of the episodes or the fun parts that make people want to go back and listen to the entire episode.

If you use multiple content formats to reach your customer base, you can simply convert one form to another. Let’s say you published a blog post that turned out to be a big hit, you can take a fresh look at the same topic by creating a podcast episode about it.

How to create a podcast?

If all the benefits of having a podcast have convinced you to embark on a podcasting journey, here are the steps to take:

Find a concept that fits your business

To reach the right audience, you need to come up with an overall theme for your podcast that reminds your listeners of your business. To understand this, let’s take a look at Slack’s messaging program podcast, Slack’s Variety Pack. The podcast is about stories of successful businesses and the teams behind them. This is very similar to what Slack actually does: connect teams through an email program. Say you’re leading a recruiting committee, your podcast might have tips on how to help people get their dream job.

Find the right size

There are several ways to create podcasts. These include interview podcasts, stand-up podcasts, co-hosted podcasts, panel podcasts (single host with multiple guests), and non-fiction storytelling podcasts, to name a few.

Different businesses can benefit from different types of podcast formats. Let’s take a look at McDonald’s podcast, The Sauce. This podcast chronicled how customers rioted over Szechuan sauce at McDonald’s locations in the United States in 2017. Exploring the issues caused by the lack of this sauce and how it was brought back to the menu, the podcast was made in a investigator containing snippets of interviews with a single host. Using this as a reference, if you run a fashion e-commerce website, perhaps a podcast co-hosted by fashion influencers discussing the latest trends could be the way to go.

Once you understand these two steps, you’ll be better equipped to work out other details, like cover art, a name, and description for the podcast, to make it recognizable. Yet, given the popularity of podcasting, know that you will have to compete with many other podcasts. In December 2021, there were 3.2 million podcasts on Spotify. This should tell you that you will have to fight for your audience’s attention and try to create content that stands out.

To do this, try talking about unique themes and adding music to make the episodes sound good. Also, make sure you have a strict release schedule so your audience knows when to expect the next episode. Ultimately, it’s a trial and error process, and you’ll learn more about what kind of content your audience likes as you start posting episodes.

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Header image courtesy of Unsplash.

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