If there is any topic you are interested in, odds are that somewhere on the internet there is a podcast that covers it. In fact, according to Music Oomph, there are more than 700,000 active podcasts, 29 million episodes, in over 100 languages. Many of these are created and published by small businesses.
Small businesses and startups are always on the lookout for new, inexpensive ways to market their business.
Casting a wider net
51% of the population has listened to a podcast, with 32% of the population listening to a podcast at least once a month, and 22% listening in at least once a week. The largest age demographic of podcast listeners is 25-34 years old, followed by the 35-44-year-old group. The most popular podcast genres are:
- Society & Culture
- News & Politics
Music Oomph also states, “Podcast listeners are 68% more likely to be post-graduates” and “Podcast listeners are 45% more likely to have a $250,000+ annual income.”
Podcasts for business growth
Podcasts have become a valuable aspect of business growth for a number of important reasons. See below to learn more about why adding a podcast to your marketing strategy might be the next best step for your small business.
The right audience is listening.
Forbes states, “More than one-third (39%) of owners of SMBs listen to podcasts, and 65% listen at least weekly.” This means that those people you are trying to target are listening. Leads cultivated from podcasts tend to be more lucrative and higher value. Podcasts have the unique ability to reach a wider, more valuable audience that you might otherwise miss in your typical marketing efforts.
Podcasts fit most budgets.
Beyond the cost of a microphone and a subscription to sound editing software, podcasts are almost free. Of course, your time is valuable, so we recommend following some helpful how-to guides until you get the hang of it. Buffer has an excellent guide that can help you get started.
Easily shareable content.
Podcasts are pretty much interactive blog posts. They are full of personality, brand narrative, and enthusiasm, a perfect blend for social media success. Podcasts can quickly be shared on Twitter, Facebook, or LinkedIn for an added marketing bonus.
You might make extra cash.
Many podcasts start out as a fun marketing activity, but they can transform into a lucrative exercise. The podcasting industry is now worth $659 million. Many of the hit money makers began as humble startup podcasts looking to expand their brand reach and audience engagement.
Podcasts are fun!
If you happen to tune into Dax Shepard’s podcast “Armchair Expert”, you may notice that hosting your own podcast can be a blast. Talking about your passions with others who share the same interests shouldn’t be considered work. Yet, just a few hours can go a long way towards boosting your business opportunities.
Little risk, large reward.
In the end, if a podcast isn’t right for you, very little is lost. You will only have invested a few hours of your time and a small monetary loss for a microphone and software. However, giving podcasts a shot will have shown you what does and doesn’t work for your organisation.