Currently, there are over 2 million active podcasts worldwide. The number of podcasts is growing exponentially with each passing year. As you can expect, the range of topics people are creating shows around is limitless. The audience base is matching the supply as well. At least 70% of the American population knows about at least one podcast.
The intersection of brands and podcasts is an interesting one. Now more than ever brands are leveraging the popularity of podcasts through advertising opportunities. Popular podcasts can hold audiences of millions and a direct advertisement to them can do wonders for a business.
However, as the advertising machine rolls on, more and more brands are pursuing podcasts of their own as a way to create content around their business. By 2028 experts project that podcasting will become a 95 billion dollar industry. It is proven that business-centric podcasts drive sales.
This begs the question, does your business need a podcast? We break down the value in having a podcast for your business below. Check it out and see if it is right for your brand.
Podcasts: Creative Marketing Control
The value in a business pursuing podcasts is that you have complete control over the subject matter, messaging, frequency and dissemination of the show. Being able to specifically dictate what your show is about and for how long is extremely enticing to a business looking to get their name out there.
Often, successful brands will make sure their podcasts are about the industry they serve. Instead of pushing a hard sell about their product or services, great brands will provide value coming from a place of knowledge that helps educate their potential customer base.
Being able to navigate the subject matter of your choice allows you to dictate that kind of information your audience needs to know. This can shape the way you sell your products with the right information that your audience might not receive anywhere else.
Podcasts: Creating A Content Machine
Content creation is one of the most challenging aspects for a business as they try to grow. With so many other day to day tasks a business completes, creating content for a potential audience can be overwhelming. Podcasts, in reality, actually help solve this issue. The idea of content repurposing is becoming extremely popular for brands. The concept is to essentially take long form content and break it down into smaller pieces of content for a variety of social media outlets.
Let’s take a one hour podcast episode for instance. That one hour podcast episode will live on Spotify, iTunes and other platforms. However, the complete transcript of that episode can also serve as a valuable blog post. Even further, you are able to take 15-30 second clips of the episode explaining something valuable and create videos around them to post onto social media platforms.
Sometimes, it is easily attainable to create 10 smaller pieces of content out of one podcast episode. This allows your brand to keep the content fresh and engaging while building a library of valuable assets that people can share and reference.
Podcasts: Where The Customers Are
The projection is that by the end of 2022, podcast listeners will account for 20.3% of all internet users. This translates to 424.2 million listeners across the world. Podcasts are a cost effective method that can help you reach millions of potential customers.
In fact, the average person spends 7+ hours a week listening to podcasts. The data that is currently available is extremely valuable for brands to carve out their potential content strategy. Being able to build an audience that consistently consumes your content and trusts your opinion can result in a significant increase in sales.
People will always continue to buy from people. Therefore, if there is an opportunity to build a community around your brand, then you are able to effectively sell your products/services and grow exponentially. Creating a sense of credibility while providing immense value to your audience will motivate them to help be a part of your overall success.
Does Your Brand Need A Podcast?
The answer, truthfully is no, your brand does not need a podcast in order to succeed. If you are extremely confident in your content and your overall strategy that yields results, you do not need to add a podcast.
However, if you are looking for a pioneering way to reach your potential audience while having fun with it along the way then a podcast is definitely the answer. With the right amount of commitment and charisma, podcasts can be extremely rewarding and enjoyable to create.