3 Benefits of Launching a Podcast for Your Business
The medium has been called the 'next marketing frontier.'
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Podcasting was once regarded as a self-indulgent hobby for individuals who relish the sound of their own voice — and to an extent, it still is. But in the current media landscape, producing one of these digital talk shows has proven to be an ultra-effective marketing tactic. (Some experts have gone so far as to deem it "the next marketing frontier.")
Here are three reasons why you should consider making a podcast part of your business or organization's marketing strategy:
1. It's a fun, value-filled way to drive traffic
Hosting a podcast can help you both find a new audience and keep it engaged over time, as the subscriber-based format inherently contributes to a sense of community and familiarity among your listeners. You can use these relationships to build a loyal following, which can lead to all sorts of revenue opportunities. You may even see a spike in your site's traffic, as devoted listeners oftentimes seek out podcasts' website for more content or information related to the broadcasts.
2. It could turn into an additional revenue stream
People don't get into podcasting just for the fun of it. Well, some do, but that's not the medium's only purpose: It's also a fantastic way to make some extra cash. According to the Interactive Advertising Bureau, the podcasting industry reached a record $314 million in revenue in 2017, an 86 percent increase from 2016's numbers. Things are only expected to grow even further from here on out, with the industry's revenue projected to reach $659 million by 2020.
As your own podcast grows, you'll likely receive more and more opportunities to monetize the show in the form of sponsored content, branded merch, affiliate marketing, and/or traditional host-read ads.
3. It's a great way to better your brand
If you're struggling to close that gap between your business' presentation and its public image, give podcasting a try. It's a legitimate means to build stronger brand foundation among those who aren't familiar with your organization, and bridge that gap for those who know you already.
Those are the "whys" of starting a business podcast; now, for the "how": If you venture over to the Entrepreneur Store at some point within the next few days, you can enroll in the How To Start A Podcast Bundle for less than $30. Its education has been divided into four different courses spanning more than 20 hours of content, which is taught by industry pros like EntrepreneurOnFire's John Lee Dumas, This American Life's Alex Blumberg, and Snap Judgment's Julia Dewitt. They'll walk you through a wide range of topics, from storytelling techniques to buying the right equipment.
For a limited time, Entrepreneur readers can sign up for lifetime access to "How To Start A Podcast Bundle Feat. John Lee Dumas" for just $29 — an 89 pecent discount on the original retail price of $266.