Although podcasting is the newest kid in the block among marketing channels, its notable growth in the past 5 years has drawn the attention of a big percentage of business owners.
Whether it is for personal development, entertainment, or simply to get the most out of your day, podcasting has become the favorite channel of 48 million Americans, an increase of 6 million from 2017. By the way of comparison, approximately 20 million Americans watch NFL Sunday Night Football, the highest rated television program.
Why You Should Consider Podcasting
Hosting your own podcast can help you reach a new audience and with the right strategy, it can help you double the leads you get on a monthly basis. So here are seven reasons why you might want to launch your own podcast for lead generation.
#1 Podcasts Are More Popular Than Blogs
According to Google trends, podcasts have surpassed blogs in popularity and demand. This was measured by the amount of search that each term get on a monthly basis. This means that fewer people are searching for blogs than they are for podcasts.
This graph represents the interest in both keywords in the last 12 months in the U.S. The blue line represents podcasts and the red line represents blogs.
#2 Google Recommends Podcasts Over Blogs
Every time you enter a keyword into Google’s search bar, Google will try to guess what you’re looking for by recommending the most utilized terms around your keyword.
The following screenshots are evidence of Google recommending podcasts over blogs to every user in a great variety of industries.
On the following screenshot we were searching for “best parenting…” and we can clearly see that Google is recommending “best parenting podcasts” over blogs.
We wanted to have more evidence of this theory, so we picked a couple other random terms to see what Google would recommend for each case and this is what we found. We typed “best personal finance…” and one more time, Google recommended us podcasts over blogs.
And just in case that was still not enough evidence to support our theory, we tried one last time: “best marketing…” and one more time, we saw podcasts way higher than blogs!
#3 Podcast Listeners Have Higher Purchasing Power
Thanks to all the advanced analytics that most podcasts share online we know that regular podcast listeners have an annual household income of $150K or more.
This is due mainly to the fact that 30% of podcast listeners have some grad school while 27% of them have a four-year college degree. This means that you attract people with higher purchasing power and generate higher quality leads from people who can afford your products and services.
#4 61x Times More Leads From Podcasts Than Other Channels
I know 61x sounds like a very high number but a recent podcast that surveyed 168,000 podcasts listeners and discovered that 61% of their audience would buy a product or a service from an ad they originally listened on their favorite podcast.
This is pretty astounding because most traditional advertising converts at 1%. On the other hand, channels like a blog still convert in single digits, making podcast one of the most powerful marketing channels for lead generation. So it could actually be costing you thousands of dollars on missed opportunities from not having a podcast to promote your business.
#5 Build a Loyal Tribe
Since your podcast will likely become the first interaction with your prospects, this tool can help you build the authority and trust even before you ever talk to a lead.
Most leads that come from podcasts have already been listening to your voice for a while, they’ve heard your stories and see you as an authority. Podcasting can help you build a genuine relationship with all your audience turning them into a loyal tribe that supports your brand. Without forgetting that by the time you get on the phone with them they will be ready to buy from you. By then, your podcast might become your #1 “salesperson” working for you 24/7 while you focus on taking care of your new tribe.
#6 It’s A Cost-Effective Marketing Strategy
Podcasting is one of the most cost-effective marketing strategies in 2018. Although there is expensive equipment out there, you can start your own podcast for less than $50.
This amazing tool relies more on your creativity and imagination to think outside the box than having to invest thousands of dollars in development. A genuine and honest podcast show will go farther than the most expensive production that has a fake host.
Here’s a list of the bare essential tools you will need to launch your own podcast:
- You will need a USB microphone that can make you sound like a pro ($20-$50)
- Audacity: a recording and editing software that works both on Windows and Mac (Free)
- You’ll also need a podcast hosting account to upload your podcast episodes. There are platforms like Libsyn and Podbean which offer a free version. (Free)
- Background music to make your podcast sound professional. Make sure that the music is royalty-free and that you have a commercial use for the songs. (Free)
- Promote your podcast on your website and on social media to get your first subscribers (Free)
By now you should be able to launch your own podcast and start generating highly targeted leads for your business. The key now is to be consistent with your episodes. Stick to a schedule so your listeners become used to listening to you on a set schedule.
#7 You Can Reach Thousands Of People With Every Episode
Let’s be real; how many people would you have to meet per hour and talk about your business to reach thousands of potential clients every week? The answer is probably a pretty big number that is nearly impossible to achieve without technology.
A podcast can help you reach thousands of people from the least amount of effort. Picture this: you spend 20 minutes recording an episode talking about a problem you solve with your services. You spend another 10-20 minutes to edit your episode and upload it to your hosting company.
By now, you’ve invested 40 minutes of your day to release a new episode. This new episode will be available for people to listen to for years to come. At the same time, it will reach thousands of people that might have never heard of you all from the same 40 minutes you invested once.
That’s the power of podcasting for business!
I know you’re probably thinking that having a podcast takes a lot of time or that you’re not tech-savvy enough to have one… But that’s where we come in!
We have helped many clients grow their podcast with a cohesive digital marketing strategy. Contact us today to learn more about our services!