Podcasts have been around for a while. It’s like a radio talk show about relevant topics that you can download on your device. Most podcasts follow a topic where each episode is connected with the other.
Podcasts are a fun way to educate people or share your story with the world. It has the same warm feeling as someone talking to you but without the pressure of having to focus on their face. You can just turn it on, do what you’re doing, and learn at the same time.
Since a lot of people don’t exactly enjoy reading, podcasts are a great alternative. It’s also great for people who are auditory learners. People who like to multi-task or just have white noise in the background will also enjoy this.
But how can you start one for your business?
Think of a topic that you’re knowledgeable or passionate about. Make sure that the topic is related to your business.
Next is a platform. Tons of platforms are good for podcasts. But why not hit two birds with one stone? Record your podcast on video and upload it on YouTube as a vlog and you’ll be having two contents for two platforms.
Finally, you’ll be needing the best microphones for podcasts and YouTube. Investing in good microphones will benefit you in the long run. Having one for you and one for a co-host is important so you don’t have to share. Finally, have a few in stock just in case you have guests.
Will it be good for your business? Let’s find out together.
Market Engagement
Podcasts can open up lots of conversations with your audience. You can ensure that people engage with you through your podcast in many ways.
One way would be using an official hashtag for your podcast and a tailored hashtag for your episodes. Encourage them to use these hashtags when they talk about your podcast online. This boosts your visibility online and gets more people interested in your podcast.
Another would be encouraging them to suggest future content that they would like to see. This one is especially powerful because they get to be a part of the decision-making process. They get to have a voice and they know that their voice gets heard. This reinforces the idea that the brand wants to connect with them
What these interactions get you is the interest of your audience. They become immersed with your content. They’ll start sharing it without needing to be prompted.
More interactions mean more visibility. More visibility means more interested customers. More interested customers mean more ROI.
Sponsorships and Ads
This is the quickest way to get revenue from your podcast.
Once your audience has grown, you’ll be attracting sponsors for your podcasts. They’ll be partnering up with you on your podcast. Their support can be monetary or they’re going to give you free stuff. In return, you’ll be promoting their product or service in your podcast.
Another way would be garnering enough listeners and being qualified to have ads on your podcast. It’s important to note though that this is a double-edged sword. Ads can bring in fast revenue but be reminded that a lot of people don’t like ads. Either your content is so good they’ll keep listening anyways or they won’t because there are too many ads.
Networking
Inviting guests over for your podcast is a great way to meet new people. You can invite over experts in the niche you specialize in and interview them in your podcast. You’ll be learning something new along with your viewers.
If things go well, you’ll be earning a new contact through this small interaction. You can also ask them for referrals on who they think can also guest in your next episode. As your podcast grows, you’ll be able to attract more experts that you can interview.
Another noteworthy benefit from this is your audience will slowly think that you’re an authority in your field. Why? Because you’re able to invite all these experts on your podcast! That makes them think that you know what you’re doing and you’re an expert in your field as well. They will start associating the authority you invite with your podcast.
Value Added to Customers
Having a podcast that discusses topics outside of your business is added value for your customer. Nobody would tune in on your podcast if it’s just promotion after promotion in every episode. It’ll bore them to the point that they won’t be interested in your podcast anymore. They’re more interested in what can they learn from you aside from your products.
But if you branch out from just talking about your business with topics that pique their interest, then they’ll keep coming back for more.
For example, your business is about pillows and mattresses. If you keep talking about how your product can help them get a good night’s sleep, they’ll get bored. You’re just like any other commercial out there. But if you talk more about sleeping patterns and how they can have a decent sleep schedule again, then they’ll come back for more.
Make sure that the content you release can always be traced back to who your brand is. This way, your audience won’t get confused about who you are.
In the long run, the customers will learn to love your brand. That kind of brand loyalty will turn into ROI in no time.
Social Proof
Do you know what can be equally powerful as having brand ambassadors? Customers that swear by your brand.
This is what we call social proof. People’s decisions become influenced by others in an attempt to copy or imitate them.
How can we use this in our podcast?
We can invite people who have tried and tested the product or service and ask them to be guests on the podcast. These people have their own stories to tell. Stories that other people will surely be able to connect and identify with. If they can hear that others are satisfied with the product or service, they’ll be convinced to try it for themselves.
Think of it as a Word-of-Mouth marketing strategy but giving the voice a megaphone to broadcast the message.
Brand Awareness
Out of all the mentioned ways to get more ROI on this list, this may be the slowest.
Brand awareness focuses more on introducing who you are to your audience. It’s the getting to know phase. You start telling them more about what you do, what you can offer, and how can it help them.
This can be a bit boring at first because they may not be into who you are at the start. Make sure to have promotions or small contests as incentives for your audience.
If your budget doesn’t permit that, then make sure it’s fun and exciting! Have games that your audience can interact with if it’s a live stream of your podcast. Or you can make sure that the topic you’ll be discussing is trending or relevant to your viewers.
What’s important is at the end of the podcast, they know who you are, what you can offer, and that they want to come back for more.
This first step will jumpstart your ROI. It’s going to be slow but it’s also going to be worth it.
Key Takeaway
Statistics show that there are more than 600 million blogs out there. And other statistics also show that there are only 850,000 active podcasts.
The slow growth of podcasts over the years suggests that there is still room to claim in the industry. There’s still room and time for growing your brand. This can be an awesome way to grow your ROI while providing more value to your customers.
“A brand for a company is like a reputation for a person. You earn reputation by trying to do hard things well.” – Jeff Bezos.
