5 Reasons Why Your Business Needs a Podcast
How do business owners establish authority in their niche and gain customers in this overly competitive time? Podcasts are a new and trending way for businesses to go where potential customers are and win their hearts, as well as provide service to the community and establish their brand. Here are 8 ways podcasts can take your business to the next level.
Development of new technologies has made it incredibly easy to create, manage, and advertise businesses, but we are all facing new challenges today. How do business owners establish authority in their niche and gain customers in this overly competitive time? How do people find the service/product they want from this world of information overload? Podcasts are a new and trending way for businesses to go where potential customers are and win their hearts, as well as provide service to the community and establish their brand. Here are 8 ways podcasts can take your business to the next level.
You and your business have something unique to offer. Whether it is your knowledge about frugal living or a team of hilarious comedians, there are people who want and need what you have. They are waiting for it and looking for it. Think about all the resources you have, the things you have been taking for granted. Are there things you can share to help others? What can you do to give back and contribute to the conversation? Building authority and thought leadership within your realm can be the fastest way to become #1 in your field. Asking the following questions might help.
Think of podcasts as another way to fulfill your business brand awareness or thought leadership. Maybe your podcast listeners will never use your service, and your sales may not immediately skyrocket, but there will be a sense of achievement, and more people will be attracted to your show, which will benefit your business in the long run. A great example of this is SEO, Your business’s search engine optimization isn’t done in one blog post, and doesn’t make your content go viral. What it does though is build authority and show your expertise in your field. Not to mention Google is going to start adding podcasts to their search results, so that helps.
Building your brand is much more than picking a motto, a logo, a web design, etc. When people search online, they can find countless companies offering seemingly identical things. How are they supposed to know which one is the best for them? Your podcast can show them how your company is different from the rest of the competitors. They can see that you really know and care about what you are doing, and will come to trust your knowledge and personality.
There is a reason IKEA, Trader Joes, and even Mark Zuckerburg thinks podcasts are a great idea. Podcasting is the last true subscription service with super high open rates (85%+) and crazy listen rates (90%+) and can truly connect you to that audience.
People care about your passion, your cause. Talk about what your personal goals and company’s goals are. More importantly, show them how you are working toward those goals. It is easy to state the mission of your business, but showing them you mean it by having a weekly podcast show about the cause, takes another level of commitment. Make sure you are sharing good, helpful information (or if you have a comedy venue and a comedy podcast, something really funny) so that you are establishing your authority in the field. We consistently tell our clients and Show hosts that it is always better to go deep then to go wide. If you are adding your voice, your brand becomes 3D, not 2D, and that will be something that captures people.
Remember that your competitors are not only other businesses in the same field but anything that people find attractive and worth their time and money. For example, if your company’s mission is to strengthen family relationships by providing relationship education courses is super native to the platform. Find what your business can add to the ongoing conversation and actually lend your masterful voice to it.
Gaining and retaining clients and customers is crucial to businesses, and especially important in industries where churn (attrition or turnover of customers of a business or users of a service) is expensive. In other words, if your business benefits more from long-term, or more preferably lifelong, clients, rather than people who come and go, you want to invest more in building a strong relationship with current and potential customers. You don’t want them to go anywhere else. However, the time you can spend with those people one-on-one is limited. If you want to keep in regular touch with them and educate them about your field in a more personal way, that’s where podcasts come in.
The number of people listening to podcasts has been growing continually. Years ago, some people wrongly predicted that podcasts will die away soon because videos will take over, but people keep listening to podcasts for the same reason people still listen to radio shows: multitask-ability. People are busy. They are often too busy to sit down and read a 700-word article or to watch a full 30-minute video, but they are willing to listen to something they are interested in as they drive, do chores, or exercise. It is like listening to a radio show, but with a wider variety and easier curation. When you have a podcast, your ideal customer will come to you. Much better than spending tons on a marketing budget for people with zero interest only to annoy them.
When people find a good blog post or a video, they might see related ones, but they don’t see the list of everything and listen to everything. However, when it comes to podcasts, the list of shows is right there, from the first episode to the most recent episode, and people tend to binge watch what they like. That’s how you get one-on-one time with your current and potential clients. Not to mention there is a huge pool of podcast listeners, or potential clients, scattered all over the world.
Podcasts are perfect for interviews. Your solo show might be great and all, but conversations will make your podcast more lively and engaging. A lot of successful podcasts have guests from related fields to provide valuable content for the listeners. Your guests can be gurus or well-known experts in your field, or someone outside of your expertise, who can offer a new and fresh perspective on the market sector. Listeners will surely enjoy listening to their stories, and so will you. You have the bonus of actually getting to know the guests, and letting them know a little about you and your business. It is a great excuse for you to build connections with people inside and outside of your expertise, and that bond will be priceless for your future business.
You don’t know anyone who would come to your show as a guest? Never fear! There are many people who are looking for a place to share their knowledge and stories, so people (more than you might think) are open to the opportunity. And remember, asking never hurts. Even if they will not be able to make it to your show, most of them take your invitation as a compliment. On your show, let your guests talk about what they are doing and let them advertise their business or project as well. This makes a win-win relationship.
There are some agencies that will book guests for you (Interview Vallet is amazing!) or you can ask an employee to do that for you. However, if you see someone in a conference or a meeting, asking face-to-face might be the best option. Also, ask your guests for referrals for future guests, and expand your network even further.
We have found that asking perspective B2B clients to come on to our show is often one of the most fun and easiest ways to sell to them after recording. It is a super easy transition after taking off the headset to ask just how much fun the podcast was, what they linked and take the next step with them in our sales funnel. Moreover, when you find one episode with this one guest expands your audience you will quickly see the benefit of leveraging different audiences.
Podcasts are a cost-effective investment. Let’s compare podcasts to two other competing media forms: blogs and videos. Even though blogging sounds like the cheapest and the easiest to start, it requires good writing skills and lots of time for rigorous revision, and it is hard to turn it into different media forms like podcasts or video. If you want to make videos, you have to dress well, find a nice-looking quiet place, purchase expensive equipment; such as a camera, mics, lights, etc. Video editing also takes time, skill, and data storage.
On the other hand, you can start your podcast for less than $100, using a mic, any quiet place, free audio editing software, and an easy-to-navigate hosting service. Once you get used to it, recording and editing will take no time. The audio resources you create can be easily repurposed. You can ask your employee or an agency to transcribe or write summaries of your podcast and publish it on your blog. You can upload your show with some still pictures to YouTube and other video sharing platforms (which might sound a little sketchy, but many popular podcast shows do that and get traffic). You can see how your podcast show will enable you to place your content everywhere for the minimum cost, each of them bringing more people to your business.
You don’t know much about technology? No idea how podcast hosting or monetization work? This is a great opportunity to learn, and the things you learn will help you be a better marketer, business owner, and influencer. Or, you can have your team do it or even outsource it, learning more about collaboration and communication. If you host your show, that will help you feel more comfortable and confident when speaking in front of people. All these skills are great assets to have.
Did you know some popular podcasters earn six figures from their podcasts? There are many ways you can monetize your podcast. You can get sponsors, add audio ads, sell merch, get donations, and the list goes on. Stop spending money on marketing and make money while marketing.
People are always looking for something fun. You won’t watch movies, travel overseas, or play laser tag if they don’t provide some kind of fun. Whether it is an “inspirational” or “exciting” or “laugh out loud” kind of fun, it needs to be there. Having this goal in mind will help you to have fun and grow your business as well.
As always, we at LaunchPod Media are here to help and answer any questions you may have about podcasting. As the podcasting experts, we are more than happy to help your show grow and rank for its particular niche and help your brand figure out what it sounds like.