Marketing and its techniques are constantly being updated. Today, the trend that you can and should have time to jump into is podcasts. Podcasts are both a tool and a communication channel and a new platform for business and advertising. In the US, podcast ad spending will be in the region of $ 534 million in 2020, according to Statista.
A podcast is a digital audio recording that is usually uploaded to music platforms, blogs, or private sites. Podcasts are often compared to radio broadcasts, but one of the main advantages of podcasts is that they remain on the recording. Just like radio, a podcast can have a host, interviewed guests, and a specific topic. Podcasts are budget-friendly and versatile. And most importantly, they are always about a close connection with your audience.
Podcasts and Marketing: How It Works
From a marketing perspective, a podcast is a great way to showcase your brand and differentiate yourself from competitors who haven’t started making podcasts yet. Plus the audio format takes effort, but not as much as producing video content. At the same time, in its podcast, any business can not only talk about itself, its products, values and strategies, but also attract new listeners, expanding the list of topics and touching on similar topics.
With podcasts, you can test whether your business is worth expanding into new areas. If you provide useful content to your listener, you will get new customers and strengthen the loyalty of existing ones, and increase brand awareness.
There are about 800,000 active podcasts. And, for example, there are already more than 600 million blogs. The difference between opportunities and free niches is obvious.
According to Voxnest (an audio technology provider), global podcast consumption increased 42% during the onset of COVID from March to April.
Benefits of podcasts
- In audio, you have an additional tool of influence over the text format. This is the voice and delivery, intonation. People read much more meaning from mannerisms, intonations than from a direct verbal message.
- A podcast is a more personal and humanized contact with your prospect.
- You can declare yourself as an expert. Cover topics that you are well versed in, position your brand as an expert in your niche.
- Podcasts build brand awareness and help you stand out from the crowd.
- The podcast format is great for expanding your networking, gradually joining new niches. Invite interesting specialists from related businesses.
- Creating podcasts is quite budgetary. All you need for production is a quiet room, a good microphone, and audio editing software.
- Podcasts flow seamlessly into the listener’s life. Audio keeps listeners longer, because you can combine listening with everyday tasks.
- You create value for your audience, and they will thank you for it.
- The competition is much less, you can be a trendsetter in your niche or easily find new vacant ones.
- A podcast will help you attract an audience similar to yours, and often this audience will already be warmed up.
- This is a relatively new and not boring content format for marketing.
- Podcasts and product advertisements in them are often not perceived by the listener as advertising (with competent content, of course).
- Podcasts create a loyal audience and communities of like-minded people, deeper communication with the audience.
How to create a quality podcast
The first thing to start with is define a goal and an approximate run-up of topics. List valuable content you could give. Decide on the format of the podcasts, is it an interview or a first-person narration?
Work out qualitatively the image of your target audienceto know what to offer her. Work out tone of voice specifically for the audio format. Will it be a serious presentation or, on the contrary, a lot of humor and slang?
A prerequisite for creating podcasts is to create quality original content… Try different types of content: answers to subscribers’ questions, expert opinions, interviews, offer relevant comments on different topics, but only in the context of your business. Feel free to experiment and give room for creativity.
It is important to collect regularly feedback from your listeners to see if you are moving in the right direction. Adjust your programs based on the collected feedback. Give your audience what they are asking for.
To expand your audience and reach, invite other experts as guests and co-hosts. Take advantage of omnichannel benefits by sharing your podcast across multiple sites and across your other marketing channels.
Add to podcasts personality: You can promote not only your business, but also your personal brand. Share the missions, values and social responsibility of your business.
Important points to remember when creating audio content
Although the production of podcasts is not expensive, it is impossible to save on the purchase or rent of the right audio equipment and a good audio editor. If you don’t use a recording studio, take the extra time to test different locations and find the one that sounds the best for your recording.
If you want your podcasts to become an integral part of the listener’s life, it is important to do podcasts regularly so that the client forms a habit of listening to your podcast, for example, every week. Determine the number of podcasts by your time and content resources, but be sure to record podcasts systematically.
Track the number of regular subscribers and the total number of listeners. Analyze which podcasts are interesting to the audience, which topics are collecting more comments – so you can grasp what your audience needs and develop your channel faster.
Think carefully about your podcast description, don’t make it boring by listing topics and episodes. Create such a description after reading which you will want to listen to the first episode.
Mix platforms and create interactions across all of your marketing channels. Engage your social media subscribers to listen to podcasts. Plus, audio podcasts integrate nicely with YouTube channels if you want to focus more on video content.
How to make money on podcasts
A podcast, like other marketing channels, is also interesting in terms of advertising and revenue generation. That is, a podcast can work not only for the overall strategy of promoting your brand, but also be an additional source of income.
This is a site with a fairly large coverage. If your content is interesting to the audience and you have engaging programs, then advertisers will find you themselves and start offering collaborations or direct advertising.
Your podcast can be not only a great way to communicate with your audience, but also an additional source of income that you can use to grow your business. A key rule of thumb is to carefully select your ads and recommend only those that fit the overall vision of your brand.
On your podcast, of course, you can sell your own service / product directly. Or focus on affiliate sales and get a commission.
Another option for making money on a podcast is a paid subscription and premium access. This option is worth considering after you’ve verified the success of your podcast and audience loyalty.