Many businesses would benefit from creating podcasts as part of their content marketing strategy. But they don’t realize the value that podcasts have for listeners or how beneficial they can be for their business. In this post, we will explain the benefits of having a podcast and how it can be helpful for both you and your listening audience.
There’s Less Competition
There are approximately 80 million Facebook business pages, but only 750,000 podcasts currently airing. The number decreases when you search for podcasts based on their topic. This means that when you’re trying to promote content relevant to your business, if you do this through a podcast, you will have an easier time standing out and having your content found by your target audience.
It’s Convenient & Requires Little Engagement
It doesn’t take a lot for a listener to engage with a podcast. They simply search for a podcast they want to listen to, hit play, and listen. It also frees them up to do something else while they are listening. They can listen at work, in the car, or at home while doing other activities such as chores, cooking, crafting, etc.
It’s Mobile-Friendly Content
It’s super easy to find podcasts to listen to on most (if not all) mobile devices. Podcast creators know who their audience is and understand that they’re most likely listening from mobile devices. According to a 2017 Edison Research study, 69% of all podcasts listeners are on mobile. This is what helps facilitate listening at work, at home while multitasking, or while on the go.
It Can Grow Your Audience
According to data from Statista, the total number of weekly podcast listeners will grow from 48 million in 2018 to 115 million in 2021. That’s more than double the audience in a span of 3 years. This is why right now is the best time to begin your podcast series and grow your audience. Podcasting will become more and more competitive as the audience for it grows.
You’ll Create Loyal Podcast Listeners
A second reason to develop and establish your podcast audience before your competition does is that listeners are very loyal. This means that they will revisit your program repeatedly, which also means they will expect to see new episodes on a routine basis. Once they’ve become loyal to your podcast programming, it will be difficult for your competitors to pull them away to view their podcasts. This also helpful for your other marketing channels.
Make It an Interactive Experience
Podcasts creators/hosts can engage their audience beyond listening by creating polls, taking calls, and answering questions. This makes podcast content interactive and draws in listeners even further.
Establish Your Business as an Industry Thought Leader
One major reason for creating podcasts and other content should always be to set up your business as a credible, reputable thought leader. You can create podcast content that shows your business’s passion and knowledge of the industry, as well as knowledge from other industry experts. Interview industry experts to further establish your business as a thought leader in your industry.
Tap into Demographics With Expendable Income
Based on a 2016 podcast consumer report from Edison Research, the average podcast listener has an income of $10,000 higher than the average consumer. This suggests that podcast listeners have more expendable incomes available to spend, meaning they have money to spend on your business’s products and services.
Create Brand Awareness
Continue writing blog posts and other pieces of content, but keep in mind that your written content likely won’t garner the same attention as a podcast would. If you plan for your podcasts to come out on a predictable schedule (i.e. same day weekly or same time daily), your listening audience will become accustomed to that schedule and will expect and look forward to the release of each of your podcast episodes. This helps build excitement and interest around your podcasts and provides top-of-mind awareness for your brand.
Podcast creation costs are entirely controllable and scalable depending upon your budget and the quality you wish to achieve. If you can’t afford to purchase higher-end equipment, start on the lower end and swap out or add on better video equipment as your budget grows. You can use anything from a smartphone or inexpensive video equipment all the way up to the most high-end video equipment.
Now that you understand what the marketing benefits are of having a podcast, don’t hesitate to get started. However, if you need more assistance, you can contact our digital marketing experts at Barge Marketing. We’ll help you with anything from brainstorming podcast ideas to knowing which social media platforms your podcasts will perform best on. Give us a call at 614-401-8800, or visit our Contact Us page to submit your podcast question.