How to Use Podcasting in Your Marketing Strategy
What is podcasting?
The word "podcast" was coined in 2004 by Ben Hammersley merging both "iPod" and "broadcast." Podcasting is the simply the process of creating a podcast, a digital audio file made available to listeners by streaming or downloading directly to mobile device or computer. Think of Podcasts like niche radio stations that anyone can create and are generally available as a series. New installments can be received by subscribers immediately in the form of a notification.
Popular podcast listening services include Apple Podcasts, Spotify, and Luminary. Most of these services are available for free with the exception of Luminary, which offers “exclusive programming” and requires users to pay a monthly subscription fee for ad-free listening.
The golden age of podcasts
Podcasting has been around since the mid 2000’s, but it really didn’t start taking off until the rise of smartphone popularity, although the podcast industry itself has remained relatively decentralized and open to anyone. Today we’re seeing what’s been commonly referred to as “the golden age of podcasts,” similar to what video streaming services were just a few years ago - lots of content in one central location.
As podcasts with larger audiences grow in popularity, podcasters might see the subscription-based model from service providers as an enticing option to generate more revenue. It’s not uncommon for podcasters to rely on paid advertisers, patrons or donations from their listeners to fund and continually produce new content. In fact, not only is podcast advertising growing year over year, it is also an effective tool for marketers to reach niche groups in their campaign efforts.
How can businesses use podcasts for marketing?
It seems as though everyone has a podcast nowadays, but that’s definitely not a bad thing; listeners are given so many options and subsequent choices within a genre. This makes segmenting those podcast listeners easier for advertisers trying to reach a specific audience. If you’re trying to promote a product, business or idea through podcasting, the marketing potential for podcasts is huge.
Below are three simple ways to go about it:
1. Start your own podcast
This might sound easier than done, but one of the most effective ways to promote yourself is by starting your own podcast. If you’re a beginner, all you really need to get started is the motivation to produce quality content, a decent microphone and some audio editing software. Finding the right audience for your product is the difficult part.
2. Become a guest speaker on a podcast
If starting a new podcast isn’t right for you, speaking as a guest on someone else’s might be the best solution. Let’s say the podcast itself is within your category or genre, already established and has a large enough audience. Being that it’s already a niche group of listeners, generating leads could produce a better ROI than traditional methods.
2. Advertise on a podcast
Becoming a podcast sponsor isn’t new by any means, but it’s a phenomenal way to use your marketing budget wisely. 45% listen to most of an episode, and only 12% listen to less than half of a podcast episode. 69% of podcast listeners agreed that podcast ads make them aware of new products and services.
Both small and larger enterprise businesses need some form of content marketing strategy. Knowing that podcast listeners contain a very segmented audience and with statistics showing that podcast advertising is only set to rise, it seems like a no-brainer to utilize podcasting in your marketing efforts. Planning your strategy ensures your target market will find your message when they start looking for answers.