Do you have a favorite podcast? If you’re like the estimated 57 million Americans who regularly listened to podcasts in 2016 alone, you probably have a few. The medium has exploded in popularity in recent years—and is on track to continue to rise.
It’s not surprising that some savvy business owners are using podcasts to better establish their brand, market their services and even explore a new revenue stream. Most American podcast listeners earn an average of $10,000 more than the average person, so it’s a captive audience with deep pockets.
Is a podcast in your future? We’ll show you why you should consider starting one—and how to do it the right way.
Most American podcast listeners earn an average of $10,000 more than the average person.
If you listen to popular podcasts you’re familiar with the ubiquitous MailChimp and Squarespace ads. These brands, among others, appear to have gone all in on sponsoring a wide variety of podcasts. Sponsorships have the potential to open up a new revenue stream for your business, but it’s definitely not a get rich quick opportunity.
Eventual Millionaire podcast host told Entrepreneur that it’s a long road before you can even consider generating any income from your podcast. “While many podcasters are doing well with sponsorships, like Entrepreneur on Fire and Startup, if the plan is to monetize the podcast, you’re going to need to invest significant time into building your audience. Typically, sponsors are looking for shows with more than 10,000 downloads per month.”
Before you even think about podcasting, it’s important to consider who your target audience is.
Just like learning any new skill, taking your time to prepare will mean you’ll produce a better-quality product. Remember, you want your podcast to represent your brand in the best way possible. Cutting corners isn’t an option.
While early podcasters spoke into any old microphone and recording device, the medium has become infinitely more sophisticated. You don’t necessarily need your own sound studio for a basic podcast, but you do need:
For more information on the technical side of podcasting, visit:
Hosting an unfocused, boring or—even worse—offensive podcast will do more harm than good. Before you even think about podcasting, it’s important to consider who your target audience is (hint: potential clients) and what kind of information or entertainment they want. Then you’ll consider how your value proposition can fulfill their desires. Be sure to revisit the intersection where your business and your ideal client’s needs meet as you brainstorm podcast topics.
Unless you are infinitely entertaining or endlessly informative, it’s not a great idea to pick a topic and speak about it for 30 minutes. Listeners need to feel like you’re actively working to engage them with every podcast. Try a few different formats and see which ones resonate best with your business and your audience. Consider covering:
Nothing alienates a potentially loyal listener more than big gaps between podcasts. Podcasts gain the most traction with listeners when they are released regularly. To make sure you stay on track, create a content strategy and maintain a content calendar. You’ll be more focused, efficient and produce better-quality podcasts for your listeners.
Need inspiration? Check out these popular podcasts designed for entrepreneurs. Not only will you learn something about the art of podcasting, but you might pick up some great business tips in your research.