If you’ve been brainstorming creative ways to tap into digital marketing and explore new growth opportunities, you might want to consider a podcast. Simply put, audio content is very convenient for the consumer, no matter who they are. While it might not be everyone’s cup of tea, it may be worth investing in. And no matter what type of industry you’re in, chances are there’s a podcast you can start to cater to it.
For instance, if you’re a blogger, you might start a podcast that explores the power of language, some of the best tips and tricks a newbie blogger can use to monetize their writing, or bonus content that is related to your niche but not covered on the blog itself. There are endless different ways you can build a podcast.
Here’s why you should consider it:
Leverage the Benefits of Experts and Guests
Has your favorite nonfiction podcast ever featured a guest appearance or interview with an expert? This can be a great way to get some fresh perspective, while still feeling confident that you’re offering knowledgeable, high-quality content. Reaching out to someone for a podcast interview can help spread awareness.
Furthermore, chances are the expert or guest you’re interviewing will also promote your podcast episode because they’re featured in it. This way, you’re reaching new market segments and benefiting from free, value-adding promotion. Building connections and networking isn’t just for MBAs; it’s a great way to publicize your game, your YouTube channel, your blog, your reputation as an influencer — whatever it is you do!
Monetize Your Podcast
A podcast can not only help lead new fans to your social platforms, but can also act as an additional revenue stream. There are several ways you can monetize your podcast, but each of them require a certain degree of patience. For instance, once you’ve amassed a decent number of subscribers, you can start pulling in sponsors and getting paid for mentions. You can also make recommendations to other products and services, and link to affiliate products that you can earn a commission from (however, it’s important that you always disclose that you make a commission).
One of the biggest issues speakers have is with connecting to their audience. Today, transparency isn’t just nice to have; it’s essential. If a consumer feels as though you’re pitching them too hard, or that all you care about is taking their dollars, they don’t feel valued as a customer and are less likely to want to do business with you.
One way to connect with your audience is to humanize your brand. And hearing your voice on a podcast is an excellent way to bridge the gap between producer and consumer. When a potential follower or connection can listen to your voice as they drive to work, it makes the interaction much more personal. And as they listen to more and more episodes, it can easily start to feel as if they know you. They recognize your syntax and personality, enjoy your humor and your knowledge, and are more likely to trust you and feel loyal towards you.
Multiple Forms of Content
There are many ways to reach your target market, and with so many individuals tuning into podcasts, this is a particular niche that you don’t want to miss out on. Fortunately, if you maintain a blog or video channel you’ve already got content to work with. And if you don’t, you can repurpose your content in order to benefit from both touch points. Many videos can easily be converted into podcasts, and vice versa.
In today’s digital age, it’s more important than ever to reach your potential customers in different ways. After all some folks prefer reading over listening; others really like to hear content delivered creatively while they’re also viewing visuals.
Low Startup and Recurring Costs
One of the biggest barriers for any new marketing venture is cost. Fortunately, starting a podcast has a very low barrier to entry in terms of finance needed and skill required. Expect to spend around $100 to $200 for quality equipment wants including a decent microphone, headset, and possibly a monthly subscription for editing software (and of course you’ll want to launch a small site to host episodes independently, and there are cost related to hosting and web design of course). These monthly costs, however, are minimal, usually totaling less than $100 per month.