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Embracing the authorized magic of podcasting is a marketing tool that business owners cannot afford to ignore. Relegating this powerful medium to the corner limits your brand identity. Not only does podcasting offer a monetization opportunity, but podcasting also opens up a global audience hungry for your message.
As an entrepreneur, visibility is critical to your overall success. Although social media has democratized marketing by being the lowest entry point in a marketing strategy, it is essential to create a comprehensive online presence. A dynamic and diversified online presence is critical when courting Google and other search engines.
This is where podcasting makes its big entrance. The dance of marketing strategy is strengthened when brand messaging is curated into an engaging platform like podcasting. With more than 2 million worldwide, the rate of consumption is on a rapid ascent of growth.
Advertising dollars in the US exceeds $1.7 billion, and advertisers are hungry for content that represents their overall mission. Not only does the number of podcasts and listeners increase, but so does advertising revenue. It is expected that US sellers will spend more than $1.3 billion in podcast ads by 2021. Furthermore, it is expected to surpass the $2 billion mark within two years, and by 2025 will approach $3 billion.
While the statistics are staggering, with the podcast pool reaching 2 million, there are approximately only 850.000 active podcasts. That means advertisers are hungry for your voice and point of view. Just select unique content and streamline your broadcast with your brand.
Related: Why Every Business Owner Needs a Podcast
Why podcast?
Podcasting is a powerful marketing arm for your brand and its power is second to none. While followers and downloads are important, the secret sauce of podcasting starts with a conversation. As a podcaster, you have the forum to engage in conversations with thought leaders and experts in your field. Without a podcast, the door may very well be closed. The global reach of a podcast is mind-boggling. And as an entrepreneur, you have the power to launch your brand into the universe and ultimately attract a new consumer base.
1. SEO
Podcasting strengthens search engine optimization (SEO). The more online content is created, the more likely it is to be found online. Online content includes blogs, videos, social media, websites, and of course podcasts. SEO improves your digital marketing strategy and consolidates your online positioning. If distributed correctly, podcasting directly increases searchability, brand identity awareness, and hyperlinks that will drive traffic to your website.
Google itself. Does your online presence properly reflect your brand identity? You can increase your visibility and reinforce your brand message as a podcast host or guest.
2. Monetization
Podcasting is not the silver bullet to get rich or famous. However, it is an anchor that can support a new revenue stream. The road to monetization is a slow and steady effort, which means podcasting isn’t the answer if you’re hungry for instant gratification.
With a steady cadence, a little determination and a little creativity, podcasting can attract sponsors who will pay for a host to promote their brand, attracting the attention of a potential sponsor.
Creative attempts at monetization can be fruitful if you offer a niche podcast and understand the needs of your audience. Whether you’re a life coach or CEO of a Fortune 500 company, the path to optimizing profits is an equitable search.
Monetization looks different for every podcaster. Podcasters can reap the rewards by pursuing donations, referral sponsorships, traditional sponsorships, paid membership tiers, and premium paid episodes. Ad networks like Advertisecast and Podcorn are great examples of websites that connect podcasters with potential advertisers.
Related: Podcasting for Profit: How to Turn Your Podcast into a Full-Time Job
3. Strategic collaborations
Podcasting opens the door to conversations you may never have had the opportunity to engage with. For example, if you are chomping at the bit to have a conversation Brene Brown, chances are this icon in personal and professional development has a schedule that won’t allow for a quick chat on the phone. As a podcaster, you have the platform to build and promote the messaging of gurus like Brown.
Providing your audience with well-known celebrities and influencers creates a ripple effect on your digital reputation. The strategic partnership created will be inextricably linked online until the end of time. Taking this approach a step further, building a relationship with your guest can lead to opportunities and collaborations. Building any business starts with building relationships, and podcasting is the perfect way to start a fruitful collaboration.
4. Brand message
Shaping your brand identity takes time. Podcasting is a vehicle for shaping a more powerful brand story. It allows you to curate a space that represents an intimate view behind the brand curtain. Even more dynamic is podcasting will allow you to create your value proposition. Podcasting, in turn, through analytics, gives you a different perspective on who is consuming your content. Branding is an evolving art, but the consistency of your voice solidifies the call to action that sets your brand apart from the rest.
5. Intimacy
Podcasting creates intimacy. References recognize that the connection made through podcasting is more powerful than a social media post or a paid ad in the local paper. A bond is created between host and listener when a powerful lesson, message or interview is shared that speaks directly to the heart. The overall experience of isolation calls for intimate connections, and podcasting fulfills that need.
Podcasting is a storytelling journey. Podcasting is a path to innovative marketing. Podcasting is a platform that, when leveraged intentionally, has the power to change the trajectory of entrepreneurial life.
Related: Top Benefits of Podcasting for Entrepreneurs
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