Podcasts are hot now. I’m sure you heard that Joe Rogan got paid more than $100,000,000 by Spotify for the distribution rights of his podcast! I’m not telling you that you’ll get 9 digits for your podcast, but it’s inspiring nonetheless.
Though podcasts are in no way new, in the last two years, streaming platforms have been transferring so much energy and attention into the podcasting space. So much so, that we may be entering a new era of media. In fact, I just got an email from Amazon announcing that they are about to start distributing podcasts!
If you do it correctly and consistently, you can quickly increase your audience for your business. Don’t get it twisted though. Starting and maintaining a podcast will take hard work and planning. You shouldn’t start one unless you have figured out your differentiator. But if you’re ready to commit to the process, then keep reading…this article is for you.
In 2020, digital content has seen a surge in viewership. Growth forecasts predict revenue of $659 million in 2020 for digital content, as a result of employees working from home, being on state-mandated social distancing, and by creators having to transition their content to the digital space. Reach people where they are by launching a podcast of your own.
Here are 17 reasons to start a podcast in 2020. If this list doesn’t inspire you to start your pod, then I don’t know what will.
Don’t know how to start a podcast? No worries. I have you covered. Here’s the why, what, and how to launch your own podcast today.
Logistical Benefits for Starting a Podcast
You don’t need much to get started. All you need is a podcasting laptop, a cardioid condenser microphone, a solid pair of headphones, and Skype or an Anchor account to get started. If you want to self-host your podcast, then you’ll need a Libsyn podcast hosting account and a WordPress website.
You can record a podcast from anywhere in the world. I find it interesting when podcasters record from a remote setting. It can add a new flavor or angle to the show.
Podcasts are more portable than written text. People can multitask better when listening to a podcast. They can drive, cook, or exercise at the same time.
Most people listen to a good chunk of a podcast. The content is more engaging than reading a blog post text. Blog readers usually scan an article and leave in a minute or less. According to 99 Firms, people spend an average of 37 seconds on a single blog post. I can eat a hamburger in 37 seconds! (Don’t judge me.)
Most blog posts are written in English and non-native English speakers can have issues writing in English. There are no language barriers for podcasting. Podcast in your native language for your audience without worry.
How Podcasts Help Your Brand Win in 2020
2020 has been an unusual eight months, to say the least. There is a lot going on in the world right now, and many of these circumstances are causing people to want more information. As a result, podcasters have benefited, whether they’re informational, entertaining, or inspirational. This gives you an opportunity to serve wanting ears.
Podcasts are great for personal branding. If you’re someone who leans on your reputation for success, then it can be a platform to share your expertise. And your speaking and interview skills exhibited on your podcast can lead to speaking engagements and appearances on other podcasts.
Podcasts also help you grow in knowledge. If you want to learn more about a subject, go find an expert to interview. That was one of my motivations for starting the InspireFirst Podcast. I genuinely wanted to learn more about blogging, SEO, and publishing from experienced experts.
Podcasting isn’t a saturated market yet. The number of podcasts globally hasn’t hit 1 million (800,000 podcasts existed at the end of 2019). Compare that number to over 600 million blogs. According to WordPress, there are over 10 million WordPress blog posts published every day! A podcast can help your brand stand out simply because there isn’t as much podcast content out there as competition.
When podcasters are more active on social media, people are more likely to follow along with the podcast and support the brand. This makes a podcast a perfect partner for social media engagement.
Sales Benefits of Starting a Podcast
Once your downloads and listeners increase, you can start to run ads on your podcast. Just make sure that your advertisers align with your listeners. According to Statista, businesses spent $480 million on podcast ads in 2018. Income can be typically generated by selling ad-time. According to IAB, U.S. podcast advertising revenue is expected to grow more than 110% by 2020, to $659.0 million. People, the bag is growing. In-podcast ad revenue is expected to hit $1 billion by 2021! Get started now so that you can get a piece of the action.
For B2B business owners, podcasts are a dream for business leads. Interview the people who you want to do business with. But be genuine in your approach. You don’t want your guest to feel like they’re being hustled into a sales pitch.
Podcast episodes can become passive income assets. When podcasters give those coupon codes and discounts, they often get affiliate revenue from purchased products and services.
Music Oomph also wrote recently that those who do get a chance to ‘skip’ an ad at the beginning or in the middle of a podcast, generally resume listening to the episode right after they skip the ad. This means that if you believed that advertisements were maybe pushing listeners away, that’s not necessarily correct.
Why Podcasts are a Marketer’s Dream
According to Infinite Dial, U.S. podcast listeners listen to an average of seven podcasts per week. Why not add your podcast to the list?
Here are some marketing benefits for podcasting.
Podcasts are great for repurposing. Many podcasters record live streams on YouTube and other streaming platforms and use the audio from the video stream as a podcast. You’re killing three birds with one stone by doing that–live engagement, video engagement, and podcast. My friend Doug Cunnington from Niche Site Project does this for his YouTube channel and Doug Show podcast.
Another note about repurposing…your podcast can be cut into smaller chunks and the clips can be used to market your show and brand on Instagram, Twitter, and Facebook.
One of the coolest parts of interview-style podcasting is that the potential for building your audience is grand (and it’s easy-peasy). You have the opportunity to tap into the attention of your guest’s following while promoting your podcast. From there, your audience naturally snowballs into a bigger and bigger base. Every guest that you interview connects you to new people. You cast a wider net on the internet this way because it is, for lack of a better word, literally a web!
When will your brand put together a show and engage your ideal listener/reader/client/customer with consistent podcast content? There are likely many supporters of your brand that would likely be interested in audio content. All we’re suggesting is to just start.
Now is the time to jump in because the water’s only getting warmer. Your friends have been telling you to start a podcast. Now you have all of the reasons to get it done.
This post was proofread by Grammarly Premium.