If you’re just starting out with your small business, or are looking for effective ways to grow and expand your business in every way possible, how about considering starting a podcast as your next step? How exactly can a podcast help your business? Well, for one thing, podcasting is a pretty impressive industry! According to data courtesy of the My Podcast Reviews service by Daniel J. Lewis, there were over 99,000 new podcasts added to cyberspace in May alone! Now imagine being able to leverage even a small portion of those figures as potential customers for your small business? And while those numbers are pretty incredible, they may also be a little intimidating, but remember, you and your podcast are not looking to compete against every show out there. Your aim is to shine within your niche. You also may be under the impression that podcasts are only effective for by big brand businesses or those with celebrity endorsements, but that is, thankfully, not the case. The truth is that starting a podcast and regularly putting out valuable content is a great way to build trust and increase the brand awareness of your small business. Still not certain your business needs a podcast? Well, then keep reading for seven more reasons why starting a podcast would be a great addition to the marketing strategy of your small business.
Let’s dive right in…
1. The Increasing Popularity of the Medium
Okay, I know that sounds like a biased opinion rather than facts, but I’m about to back this statement up with some pretty impressive figures. You’ve seen the staggering statistics above regarding the incredible number of podcasts launched in May 2020 alone, but are you ready for some more crazy figures? Podcast statistics gathered and compiled by the site Convince & Convert show that in 2020, more than 100 million Americans listen to podcasts at least once a month! Their data also shows that in America alone, monthly podcast listening has experienced a sharp increase of 54% in just three short years. But I’m sure you don’t need all these facts and figures to tell you that podcasts have experienced a surge in popularity over recent years. More and more people, celebrities and well-respected industry leaders included, are turning to podcasts for information as well as entertainment By starting a podcast for your small business within the right niche, you’ll be able to leverage the popularity of the medium into an opportunity to convert a whole host of avid podcast listeners into potential customers.
Related read: How To Find Your Podcast Topic: 8 Unique Topic Ideas
2. Low Barrier To Entry
Another “pro” in the column for why starting a podcast is a great move for your small business is the fact that it’s relatively easy to get a podcast up and running and to start publishing episodes full of valuable content. This is not to say that podcasting is easy, per se, but it does mean that podcasting is certainly a more accessible form of media communication to use for business marketing when compared to other channels, such as television, or even radio. With some basic know-how, it really is possible for anyone to start a podcast. And thanks to the above-mentioned popularity of podcasts, there are so many amazing resources available to help you through the process. There are plenty of helpful how-to blogs, informative YouTube videos, and even podcasts that are aimed at helping you start a podcast. Again, we are not saying that creating high-quality episodes is easy. On the contrary, as it is with anything worthwhile, it will take significant time and effort – especially in the beginning – to ensure that your episodes sound great and are full of valuable content that engages your listeners. But what we are saying is that once you’ve got the basics sorted, entry into the podcasting medium can be easily achieved by anyone desiring to do so.
Related read: Top 10 Podcasts About Podcasting
3. Effective Low-Cost Marketing
Besides the easy barrier to entry, podcasting is also a great option for effective, low-cost marketing. Again, this does not mean that there are no costs involved. You’ll need to invest in podcasting equipment, such as a quality microphone and headphones, and there may be certain costs involved depending on your hosting platform and the plan you choose, as well as costs related to whether or not you use a company to edit your episodes for you. You’ll also need to invest your time and energy into crafting exceptional, relevant content. But as opposed to launching print or audio advertising campaigns or buying up physical or virtual advertising space, a podcast is comparatively a very low-cost form of marketing when it comes to your business. In essence, each episode you launch, whether it is directly advertising your products or whether you are establishing your brand and cementing your authority by sharing your expert knowledge, can be seen as yet another facet to your marketing strategy. Each episode can be viewed as a focused, high-quality advertisement tailored to your customers’ needs, all of which can be achieved without the massive outlay of cash usually associated with advertising campaigns
Related read: Top Tools For The New Podcaster
4. Expansion of Your Reach
Another really compelling reason to start a podcast for your small business is that a podcast is an incredibly effective way to expand your reach and branch out to an entirely new audience. You may have a thriving Instagram community and an active Facebook following, but starting a podcast for your small business opens up a whole new avenue for customer growth by enabling you to share your brand across yet another platform. If you align your podcast with the right niches, you’ll connect your business with a plethora of new, like-minded people who are just waiting to connect with you, engage with your content, and ultimately, support your business.
Related read: How To Improve The Discoverability Of Your Podcast
Pro Tip: Once you’ve dipped your toe in the podcasting pond, a whole new opportunity of expanding your reach will open up to you – podcast advertising. When your show is up and running, you can start reaching out to other podcasts within your niche or aligned niches with guest spot requests. By featuring on other podcasts, as well as by drawing other hosts to your show, you’ll be able to increase your show’s audience and reach, which will, in turn, connect more people with your business. That’s a definite “win” in our books!
Related read: How To Land A Guest Spot On A Top Podcast
5. Enhances Your Authority
Whether you’re posting on social media, sharing blog posts, or buying up ad space, the end goal is not only to increase sales, but it is also to enhance your authority within your niche, and starting a podcast for your small business is an excellent way to do just that within your industry. Just as a new platform opens you up to a whole other level of reach, so finding your business presence on another medium strengthens your authority within your niche in the minds of your potential customers. Sharing your expertise and passion across a variety of mediums also shows confidence, not only in yourself but in your business, which helps stack authority behind your name and your brand. Podcasting also allows your customers to really hear your connection to your niche, your genuine passion for your industry, as well as your knowledge, further cementing your authority in your field and enabling you to develop a greater level of trust between you and your customers.
Related read: 8 Strategies To Build Authority In Your Podcast Niche
6. Helps Establish Your Brand
Along the same lines of enhancing your authority, starting a podcast for your small business can also help you establish and enhance your brand. Through your podcast episodes, you will be able to share your business vision, your goals, and your idealogy. Your customers will truly get to hear your voice and be better able to connect with you and your brand via your podcast. Through generously sharing your knowledge, your passion, and even your unique point of view, your listeners begin to understand more about you, and consequently, they learn more about the type of brand you are aiming to build. More so than sporadic advertisements, regular podcast episodes constantly communicate who you and your business are and what you stand for. If your listeners are able to connect with you and your brand resonates with them, they will become loyal supporters of you and your business.
7. Strong Relationships With Your Customers Are Developed
Lastly, starting a podcast for your business provides you with the unique opportunity of developing strong relationships with your customers. One of the most incredible aspects of podcasting is the connection and relationship that the medium cultivates between podcast host and his or her listeners. Thinking about this in relation to a business podcast, through getting to speak almost personally to your customers via your show, you’ll be able to develop really strong relationships with your listeners and potential customers, which can then translate to brand loyalty and support of your business. Through consistently sharing valuable content, your connection to your customers will be strengthened as you become a trusted and reliable voice in your industry. Through the medium of podcasting, your customers will begin to feel as though they know you personally, and this will help establish trust between them and you, which can then translate into loyal support of all that you represent, your business included.
So there you have it. Our seven solid reasons why starting a podcast could be a great move for your small business. Whether you’re just starting out in your entrepreneurial adventure or you’re looking for ways to usher in a growth spurt for your small business, podcasts might be just the strategy to do all this and so much more. Not only do they enable you to reach a whole new audience, but through the special medium that is podcasting, you’ll be able to form strong, personal, relationships with your customers that are not possible through any other type of medium. Proving, at least in our book, that starting a podcast might be just the step to take you and your small business to the big time!