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Of the many marketing and other growth tactics that can help your business turn out to be profitable, podcasts will not be the first that involves mind. However, even a cursory glance at the numbers shows that it can be a driver of very real growth.
After all, as an entrepreneur/owner, you are more likely to bring real-world expertise to your area of interest – you’ll have unique knowledge and perspectives that can provide your audience with each entertainment and helpful insights – and subsequently generate additional awareness and sales.
A big and engaged audience
2023 Pew Research discovers that a remarkable 43% of Americans aged 12 and older take heed to podcasts every month. Meanwhile, Statista estimates the variety of monthly listeners in the US exceed 100 million by the end of 2024 and 110 million by 2029. Perhaps even more necessary than the size of this audience is the level of engagement that this media sector is characterised by – especially when it involves responses to promoting. Spotify’s research shows that this is staggering 81% of podcast listeners take motion after hearing an ad read by a host, and 52% say they trust advertisers beneficial by a podcast host more.
And if you are not comfortable with the idea of starting your own program, being a sponsor also pays off. By promoting on a podcast, you gain access to a highly engaged audience that is more more likely to take motion than if they were exposed to your marketing through other channels.
Connections that result in motion
While podcasts can significantly increase the amount of content advertised on them, their impact is much greater when the company actually produces the show, in part because hosts can be some of the most influential figures in listeners’ lives. According to tests Marketing Charts shows that 68% of listeners feel they have a deep connection with their preferred podcast hosts. They are also more more likely to say that podcasters (versus, for example, social media influencers) have modified their minds on a given topic. In fact, 75% of listeners say hosts do their most influential media personalities (significantly ahead of stars from other media sectors).
Sharing your voice and experiences in this fashion – week after week – helps viewers feel connected on a personal level in a way that simply is not possible with other types of promoting. For example, in response to A case study from Tamra Andress, whose Messenger Movement the podcast currently has over 450 episodes and ranks in the top 0.3% of the world’s top business and religious programs in this sector, and the leads generated in this fashion provided her company with six-figure revenues in 2021, and double then every 12 months. He also cites his loyal listeners as a contributing factor to his book: The Joyful Entrepreneur: Rules, Power, Presence: Insider Secrets to Combining Faith with Business(FIT Press, 2022), which topped the Amazon and Barnes & Noble bestseller lists.
Using the platform successfully
One of the best advantages of a podcast is that it offers many opportunities to increase your profits, but to attain maximum results, a sound strategy is mandatory, including careful consideration of what style of content will likely be most interesting and priceless. Use your contacts to seek out experts you can interview and bring unique insights to the table, and at all times remember the forms of perspectives and knowledge that only you can share.
Then you should create content consistently. The once-a-week cadence works for many brands because it allows time to arrange between each show while still becoming a regular a part of listeners’ routines.
By combining consistency and commitment, you build authority in your area of interest – you can go from a relative unknown to someone considered a legitimate expert – often simply by interacting with the right visitors. Ideally, these people will bring their very own audience, many of whom will stay and take heed to future episodes. Statistics amply prove that these latest listeners are more more likely to share your podcast with others in their circle.
Getting behind a microphone to share your story, advice, or thoughts on industry trends can seem intimidating at first. But as many other entrepreneurs have found, a strong podcast can be a gateway to introducing your brand to latest audiences who might otherwise never discover it.
Put in the time and effort to make sure quality and the results will come!