In case you missed it, podcasting is all the rage and one of the most popular ways of promoting your business, whether it’s new or well-established.
One of the primary reasons podcasts are so popular is because of their convenience — and in today’s world, convenience is as valuable as gold. This being said, how do you know if podcasting is right for your business and whether it’s something worth spending your time, energy, and money on?
This blog highlights the benefits of setting up and launching a podcast for your business, so just keep on reading for all the inspiration you need.
How Does a Podcast Add Value to Your Business?
It’s a no-brainer that most people are going to choose convenience over anything else. In other words, most people would probably choose to listen or watch something, rather than read it. In the case of podcasts, there’s nothing simpler and more convenient for your audience to digest.
Your podcast ideas don’t have to be long and complicated, either. It’s as simple as converting your business blogs into podcast form so your audience can listen to them on a daily commute if they don’t feel like reading. Check out Motion for more on how to start a podcast in a few simple steps.
Convenience, ease-of-use, and time is the value that a business podcast offers your customers. But how does a podcast serve you, as a business?
In short, a podcast is a great way of opening up another avenue of communication between you and your clientele. It also creates more opportunities to promote your products/services and increase sales.
The 7 Major Benefits of Business Podcasting
Podcasting creates a sense of rapport between you and your audience with access to live streaming podcasts and live commenting, allowing them to get involved in your discussions.
You can establish a meaningful connection with the people that support your business, which will encourage their support and loyalty. What business wouldn’t want that? Here are a few other perks:
1. It’s a Dynamic Way to Drive Traffic
Your customers are always looking for unique, and fun-filled ways to engage with the brand they love. Marketing and advertising have come a long way in recent years, and podcasting is a way to stay ahead of the curve by keeping it interesting.
Podcasts are also a great way to hook in a new type of audience and keep them engaged over time, thanks to the subscriber format of most business podcasts. This creates an unbeatable sense of community between you and your customers, which could lead to a range of new revenue streams and opportunities.
Podcasting can also generate an increase in referral traffic to your other platforms, such as your website and social accounts.
2. It’s a Great Way to Create New Streams of Revenue
Here’s a tip: most businesses don’t begin a podcast just for the fun of it. While it’s a good way to market your business, it’s also a money-making opportunity, plain and simple.
According to statistics, the podcasting industry was worth over $300 million in 2017. Today, it’s estimated to be worth $659 million. As your podcast grows in popularity, this is a prime opportunity to monetize it with sponsored content, affiliate marketing, host-read advertisements, and more.
3. Expand and Define Your Brand
If your business is not quite hitting the mark in terms of its presentation and public perception, podcasting could be your answer. Podcasting is a brilliant way of boosting your business reputation, building brand recognition, and brand trust.
It gives you the opportunity to get a little more personal with your customers, helping to bridge the gap between a brand that they aren’t sure about and a brand they whole-heartedly rely on.
4. It’s Simple to Establish and Inexpensive
In terms of podcast setup, you don’t need much to get started. The initial set up is inexpensive, depending on the equipment you invest in. All you need is a laptop with the ability to record. You’ll also need a microphone and a basic script about what you’re discussing. You may also need to invest in editing software to tidy up the structure of your podcast.
Whatever you choose to invest initially can be recouped thanks to the new revenue streams that a podcast can generate. To add to this, the process of establishing a podcast is quick. You could have your podcast setup in less than a day!
5. Podcasts Offer a Single Point-of-Focus
The internet can be a completely overwhelming place for many people. Websites, blogs, Facebook pages, social accounts, and a barrage of advertising can often be distracting in the world of marketing. Ultimately, this poses a challenge for your audience to stay focused on your content.
A podcast, however, is designed to hook your audience in and keep them focused on one single point — your voice and your podcast content. This is a game-changer for single-point focused marketing.
6. Podcasts Are More Personal
The overall sentiment behind podcasting is that it’s far more personal than just reading a blog. Your voice is in the ear of a customer or a potential new client, what is more personal than that?
Podcasts offer you the opportunity to reveal more about your own personality and your business personality, as well as its ethos. This is a great way to bring your target audience into the fold and make them feel like they really know you.
7. Podcasting Boosts Brand Authority
By creating a strong and meaningful sense of community with your audience, this has a way of boosting the authority, or reliability of your brand. The more your audience has access to your content and the voices of the people on your team, the more your business becomes their go-to brand.
Get Your Big Break as an Entrepreneur, Here
Starting up a business podcast is probably one of the smartest moves you can make for your business going into 2021. It’s just about understanding your audience niche and discussing topics they want to hear about! So do your research before you dive in and it could make all the difference in your podcasting success.
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