7 Reasons Your Business Needs a Podcast
Updated: Jul 19
Podcasting has becoming one of the leading marketing trends around the world. But does your business really need one? We’ve compiled seven reasons why we feel any business can benefit from podcasting and that it’s an absolutely necessity for your marketing plan.
A quick look into the history of podcasting
Podcasts have come a long way. In 2005, the buzz around podcasts started to gain traction and there was steady growth up until 2014, when Serial – an investigative journalism podcast about a man that was potentially falsely imprisoned for a 1999 murder – came into play. This caused a snowball effect, where podcast listenership nearly doubled from 2014 to 2019.
We all know what occurred in 2020. Enter COVID-19 and the era of quarantine, where most of us were cooped up in our homes, finding new podcasts to follow and listen to on an almost daily basis.
We are truly in the era of podcasting, and there’s never been a better time to incorporate this aspect of marketing into your business plan. But here’s a breakdown of our main reasons to hop on the podcasting train:
1. Tell your story and educate your listeners
Podcasting is personal. Unlike other forms of media, when someone listens to a podcast they’re getting an inside look at your business. This type of media allows for a more personal connection with your customers, which can result in trust and loyalty.
In addition, podcasts are a great way to educate your customers on what you do and how you do it. Many times, potential customers have questions about a business – its services, its philosophy – and podcasting is a medium that can provide those answers in an easily consumable format.
2. Stand out from the competition
There is a lot of noise on the internet. With millions of websites and social media posts, it can be tough to stand out from the pack. But a well executed podcast can do just that.
By providing valuable and engaging content, you’ll not only set yourself apart from your competition, but you’ll also attract new customers that are looking for what you have to offer.
3. Reach a wider audience and potential customers
A global pandemic has forced many of us indoors, giving us more time to catch up on things we’ve been meaning to do – like starting that podcast we’ve always wanted. Because of this, there are more people tuning in to podcasts than ever before. This provides businesses with a unique opportunity to reach a wider audience and attract potential customers that may have never heard of them before.
The reality is that podcasts are only growing in popularity, which means there's always an opportunity to grow your audience and build your business.
4. It’s cost effective
Podcasting is one of the most cost effective ways to reach your target audience. For a fraction of the cost of other forms of advertising, you can produce a high quality podcast that will engage and educate your listeners.
When compared with other forms of advertising - such as paid ads, like Paid Search or TV commercials - podcasts are incredibly inexpensive.
Recommended Read: 4 Ways to Start Monetizing Your Podcast
5. It’s a great alternative and / or complement to your video marketing strategy
Many businesses are turning to video marketing as a way to reach their target audience. And that’s a great thing! Video marketing is an extremely effective way to connect with potential customers.
But what if you could use podcasting to complement your video marketing strategy? Podcasting can be used to provide more in-depth information about your business, products, or services. It can also be used to share behind-the-scenes information, like interviews with key members of your team.
Additionally, if you currently do not have the bandwidth and resources for a video marketing strategy, then podcasting is an excellent alternative. It require far less time and since it's entirely audio, you don't need to worry about other factors, such as lights, background scenery, camera equipment or even personal attire.
6. You can be creative with your content
Podcasting is a great way to get creative with your content. Unlike other forms of marketing, there are no real limitations on what you can do with a podcast. You can tell stories, share interviews, conduct round table discussions, the sky is the limit!
Plus, by providing valuable, engaging and creative content on a regular basis, you'll keep your listeners coming back for more.
7. Meet and network with other leaders in your industry
Have you ever listened to a podcast and enjoyed the guest so much that you researched more about them afterwards, or followed them on social media? Case in point. Podcasting is an excellent way to connect with other businesses and industry thought leaders.
By conducting interviews or participating in round table discussions, you can build relationships with other businesses that can help you expand your reach and grow your business. You'll also build your own following and personal network in the process.
To summarize the above, there are plenty of reasons why your business should start podcasting, ranging from reaching a wider audience, to growing your network, to standing out from your competitors. Podcasting can be an extremely powerful tool for your business when you have realistic expectations, clear goals and a strong strategy in place.
If you're thinking about starting a podcast, reach out to us about our podcast production services. We have years of experience in podcast creation, and understand what it takes for a podcast to be successful. Get in touch with us today and we can discuss bringing your business podcast to life.
Related Post: What Makes a Great Podcast?