This post originally appeared on tBL member Joshua Lyon's blog Joshua Lyons Marketing Blog and is republished with permission. Find out how to syndicate your content with theBrokerList.
The concept of podcasting began back in 2004, but it didn’t get much attention until more recently. Currently, however, there are over one million podcasts (according to www.PodcastInsights.com) and that number is growing every day. If podcasts are gaining popularity so rapidly there must be a good reason, right? Well, in fact, there are several good reasons to start a podcast for your business. Before we dive right in and learn about them, let’s first take a look at the common reasons you might have been avoiding doing so thus far.
Common Reasons You May Not Start a Podcast For Your Business
Whenever you want to start a podcast for your business, it can create a sense of daunting and, dare we say, even panic. Entering into unfamiliar territory might feel super uncomfortable for you, and that’s understandable. Some businesses may worry that they don’t have the bandwidth to create a successful podcast.
After all, no audience, no traction, right? Other businesses might be concerned about a lack of space available to devote to podcasting. Others yet might convince themselves that purchasing the equipment necessary to create a podcast will break the bank and leave them high and dry. We’re here to tell you to stop talking yourself out of it! While these reasons might hold a small amount of merit, they are relatively simple to navigate. So, now that we’ve acknowledged some of your possible fears, let’s create some possibility by looking at all of the awesome reasons you should absolutely consider podcasting.
Why Start a Podcast For Your Business?
It’s Super Easy
Contrary to popular belief, starting a podcast for your business does not require a ton of time, equipment or space. In fact, compared to video, it’s really quite simple! Episodes can be anywhere from two minutes to two hours, meaning that anybody can find the time to do it. You also, most likely, already have a ton of content at your fingertips just from running your business as long as you have, which means you don’t have to spend a lot of time or energy creating new stuff to share with your audience. A tiny bit of research can have you up and running in no time.
It does not take a million dollars to start your podcast. As far as equipment goes, you’ll need to purchase a quality microphone and headphones, as well as a secure and stable WiFi connection. There is a ton of free editing software available on the internet that will help you to make your podcast the best quality it can be. There are also plenty of online resources to help you find affordable music for your introduction. You can always expand and grow as your podcast does, but your initial investment does not have to be over the top.
Podcasting is Fun
Starting a podcast for your business offers you a platform where you can speak up about the things you are already passionate and knowledgeable about, making it a relatively enjoyable experience. If you choose to co-host, it can also be a great place to enjoy banter and quality conversation with the person or people who make up your inner circle. Podcasts can literally be about anything that you want them to be, so get creative!
Helps to Build Brand Awareness
A podcast also gives you a space to educate your audience about your products(s) and/or service(s). The more familiar your audience becomes with your brand name and message, the more they will trust you and, hence, the more your business will grow.
Helps to Reach Qualified Prospects
It truly doesn’t matter whether you have a million followers or not. Starting a podcast does not require an audience. By joining platforms such as Apple Podcasts, Spotify and Google Podcasts, to name a few, you are allowing your audience to find you. Determine quality keywords that will help your prospects to understand what your podcast is all about. Then, write informative descriptions so search engines can direct the right people your way.
In the same vein, a podcast doesn’t limit you to a certain niche audience. Although you likely have some marketing personas created for your business, there may be others that you haven’t identified that would be interested in what you do. Podcasts allow those people to locate you, too.
Engages Your Audience
Podcasts are a great way to get your audience to engage with you in different ways, as well. Redirect them to your website, your social media pages and more by telling them about great deals you have going on or contests and promotions you are running. The more engaged they become, the more brand loyal they become.
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Showcases Your Expertise
Podcasts are also a wonderful way of making yourself an expert in your field. A series of podcasts devoted to a certain subject will allow you to stand out among your competitors. Additionally, it will also help your audience to get to know a bit about you personally and why you are intrigued by the subject matter.
Creates Reusable Content
The content you create in your podcasts can be beneficial to your business for years to come. Each episode you create has the opportunity to later be converted to an article, blog post, video, infographic or more. You may also choose to take a series of your podcasts to create an e-book or traditional format book that you can sell to your audience.
Opportunities for Passive Income
Books of any kind are a source of passive income that can arise from podcasts, but they aren’t the only ones. You can also make money off of your podcast through affiliate marketing. This means recommending other company’s products and/or services. Also, you can make an income by promoting your own products and through advertising and sponsorships.
Because podcasts are recorded content, your listeners don’t have to show up exactly when you do. When you create a time-sensitive offering (a live workshop, product demo or class) you limit your ability to access your entire audience. With podcasts, they can easily and effortlessly go back and listen at their own pace in their own time.
Podcasts are also a great way to create networking opportunities with like-minded individuals. Not all podcasts will have guests. But, if you do choose to host other people, you can create lasting relationships that will work for both parties down the line. Maybe, for example, hosting another podcaster who is in a similar industry (but not a direct competitor). This can create the opportunity for them to host you back, exponentially expanding your reach.
Improves Your Public Speaking Skills
Lastly, who doesn’t benefit from improved public speaking skills? The way you present yourself to your audience is a big key to growing your business in a positive light. Podcasting will help you feel much more comfortable speaking in front of an audience.
Should You Start a Podcast For Your Business?
As you can see, there are many great reasons to start a podcast for your business. Many more, in fact, than there are fear-based reasons for not starting a podcast. Anytime you try something new, there is likely to be a bit of hesitation. But, the benefits of podcasting far outweigh any detriments you could possibly come up with. Podcasting is simple, inexpensive and extremely effective in helping you to expand awareness of your brand and what it means to you. So, what are you waiting for? Create that first episode today, but remember that consistency is key! Don’t get discouraged if you don’t have a million listeners after your first few episodes. Keep going and trust that your audience will find you when the time is right!