Streaming platforms have been shifting a lot of energy and concentration into the podcasting world. Many companies, brands, social media influencers, and journalists alike are all hosting podcasts about their respective fields. If done so correctly, you can easily expand your audience and build your business. However, there’s a few things that you should know first and foremost.
Starting your own podcast will require a lot of effort, but it won’t ruin you financially. You can build and host your podcast to any extent you want, be it short 5-minute episodes, 1-hour episodes, interview podcasts, conversational or educational, etc. It’s within your discretion how you want everyone to perceive and connect with your company.
If you’re uncertain about creating a podcast, here are some reasons you should consider it and some important facts you should know.
12 Reasons To Build Your Own Podcast Today
1. Easy To Create
Starting a podcast can be pretty easy to get rolling and there are plenty of excellent resources to help launch it quickly. You don’t need to be a computer expert to set up a podcast channel. All you need is a smartphone or computer, software to record your podcast, and an internet connection. If you want to be heard by the general public, there are several sites that make podcasts accessible to audiences. You can also purchase software packages that allow you to edit presentations, add sound effects, or save past podcasts for you to utilize later.
The first step is to determine your podcast’s specific topics or niche. Once you specify that, you will be able to develop a content program and timetable. It’s okay if you’re a one-person team – you can still present an incredible solo production. It all comes down to constantly constructing interesting and valuable content at least once a week.
2. Develop New Skill Sets
One advantage of gaining new hobbies is that we also discover new skills. From brainstorming and writing a script to recording, interviewing, and editing podcasts, all these require various skill sets.
It’s always rewarding to tackle new undertakings, develop new skills, and grow. As podcasting will train you how to build and manage the show, you’ll also indirectly master other serviceable skills.
3. Less Competition Compared To Other Media Forms
There are over 500 hours of video uploaded to YouTube every minute of every day and at least 500 million blogs launched daily. That’s a lot of competition! Plus, an estimation of more than 90% of these videos and blogs are easily searchable, making it considerably more challenging to engage with than podcasting.
Recent estimates indicate there are around 500,000 podcasts and only about 250,000 are in the iTunes directory. Podcasting is still a relatively new media platform regardless of being launched in 2004; thus, it makes it possible to get found by your new listeners and help you establish your brand.
4. Not As Expensive As It Used To Be
Many people assume that podcasting is a costly pursuit, however, it’s the contrary – podcasting is not an exceedingly pricey medium for marketers or podcasters. You don’t even need high-end audio equipment because Smartphone audio recorders will provide you with good enough audio quality that you can remedy using the podcasting app.
The setup and cost of making podcast episodes are more affordable. The power of a podcast to reach a broad listener at little expense makes it a convenient communication medium.
5. Build Brand Awareness
Building brand awareness is vital for a company to thrive in today’s world which is where podcasts can be used to elevate your brand identity and gain recognition.
Podcasting lays the foundation for your business to have a considerable influence. With your appointed content, you can present your organization’s commitment, identity, reputation and demonstrate your company as an expert in its industry. As a result, you can earn more clients and naturally expand your sales objectives. You can advertise your products and services directly or indirectly by emerging as a market leader and interview successful individuals in your area.
After a while, your communication and interviewing skills demonstrated on your podcast can result in speaking engagements and participation in other podcasts.
6. Audio Content Is More Convenient For Consumers
It can be challenging for consumers to disregard everything in order to turn their attention to reading and dissecting a blog or watching a YouTube video, but with a podcast, your content is audio-focused and readily consumable for consumers in motion or while multitasking.
They can still fulfill tasks like exercising and travelling while grasping your content. Doing so doesn’t obscure them from their current exercise, but rather, it educates them.
7. Increase Website Traffic
As you’re evolving your business, you’ll want to drive website traffic to your social media channels to attract new audiences to your product or service. A podcast is a great platform to help you build rapport with new audiences for your business as it establishes familiarity. Audiences are likely to subscribe to a podcast they enjoy so they can continuously listen while, in turn, finding and following you on social media.
Once your podcast launches and earns a loyal following, you’ll become the leading expert in your line of work. Listeners will visit your website to acquire more information regarding your business.
8. Produce long-form content
We’re already flooded with short-form content through social media and blog posts. However, long-form content, such as a podcast, offers followers quick bursts of knowledge and fulfills a crucial part in building continued common ground between businesses and their audiences. Likewise, a podcast lets you delve deeper into your content, which thoroughly expresses your product and services. Furthermore, it allows you to develop a deeper bond with your listener and simultaneously expand your reach to a new audience.
For businesses with complex products, long-form content may enable clients to decide more efficiently.
9. Promotes Business Culture
Most businesses wish everyone perceived just how great their business is, how efficiently their team works together, and how particular their culture is. A podcast allows you to market your company’s individuality while building authority in your field. This platform can express that your company and its team are professionals who take their roles sincerely but are also amicable which can resonate with your listener.
Maneuver your podcast like a window into your organization so customers can peep at what your company is truly like and what you promote. Share the amazing stories of how your company has the upper hand, whether locally or globally, and emphasize company values and culture through informative conversations.
10. Repurpose Blog Posts & Video Content
If you have a YouTube channel or a website, you still have to consider some alternative ways to attract attention besides those mediums. You can repurpose your existing blog posts and video content to start a podcast.
Add some more advanced information and concrete examples, but, above all, display your brand’s distinctiveness. This will enable you to benefit from your current content to connect to listeners who like audio vs. text and video.
A podcast can transform even the most ordinary subjects into interesting learning experiences that people would like to know more about. The more you can repurpose your content, the more value you provide listeners.
11. Monetize Your Content
Most people have been able to earn money from their podcasts. Real estate agent turned entrepreneur and host of Entrepreneur On Fire, John Lee Dumas, managed to raise the revenue from his podcast to $46,000 per month.
There are some ways you can monetize your podcast. If your subscribers and download numbers are high enough, you can charge sponsors to be featured in your podcast to gain exposure. You can also work your show to advertise your own products or services. Regardless, if you don’t earn enough living from the show alone, you could add the additional revenue together with your business ownership.
Just remember that making money through podcasts takes years of dedication until people choose to listen to you.
12. Build Connections
Another benefit of starting a podcast is that it enables you to engage with and build a connection with some highly influential individuals. A podcast is a great tool to expose your audience to different industry experts, get their impressive viewpoints, and treat your listeners to new standpoints to keep them attentive.
These guest speakers will value the fact that you appreciate their contribution. They will be thankful for the publicity you may be offering to them and their industries. This mutually valuable connection provides a priceless networking gateway and partnership building.
When your guests announce the podcast episode to their supporters, you also tap into their followers and reach a more comprehensive group of people.
Start Your Podcast Today
Now is the time to take the plunge and start a podcast. It can be very beneficial for your business, especially as you reach more and more visitors.
If you’re interested in learning more about how to start your own podcast, need help with a marketing strategy, or want to work together on a podcast, contact our Merged Media team today. Let us help make your podcasting venture an easy and fun ride!