Podcasting has been around since 2004 but has recently gained a lot more popularity, and with good reason. Podcasting is the new talk radio. It’s where many people go for news, entertainment, and education on a long drive, a slow morning, or even a walk.
For a while, making podcasts seemed to be reserved for the few and famous voices in certain fields, but over the last year or so we’ve seen a rise in local, micro-podcasters. (Is that a term? If not, we’re inventing it.) Think of it in a similar way to how famous influencers opened the door for local, micro-influencers working with brands.
All that said, have you thought about starting a podcast as an off-shoot of your business? Not only is it a good tool to increase your following & therefore your customer base, but it’s also a way to supplement your income.
Why You Should Podcast
For both small and large businesses, podcasts can be a great opportunity to tap into an untapped market and reach an even larger audience, one that seems to be constantly ready for fresh content.
So, why should you start a podcast?
1. It’s Another Way to Reach your Target Audience – If you have educational or even entertaining content related to your field of business that would be useful to people, podcasts are a good way to deliver that content. If you want to reach more of your target audience in addition to social media or on your own blog, tapping into the podcast market is a great way to do that.
2. It’s Cost Effective – There is of course the initial cost of some audio equipment and software, but after that, podcasts are pretty inexpensive to produce. The biggest factor is usually time. So, if you have the margin to add podcasting to your monthly or weekly to-do list, the low cost associated with recording them means they could definitely have a good return on investment.
3. It Increases Your Name Recognition – We tell our clients all the time, the more you can get your company’s name out into the community, the better. Name recognition is a great way to grow your business organically. The more of a following your podcast gains, the more people will know about you and your business. Even if people don’t listen to your podcast, maybe they’ll have heard about it and think of you if there comes a time they need someone in your industry.
4. It Can Increase Your Income – Your podcast most likely won’t make tons of money right away, so make sure at first you think of it as an investment or passion project. However, if you’re patient, you can eventually earn a side income from your podcast through avenues like Patreon or even sponsored ads during your episodes once you have a solid base of listeners.
Why You Shouldn’t Podcast
1. It Would Stress You Out – It’s no secret that business owners are busy. So, if you’re already working 60 hours a week and adding another thing to your plate would stress you out, it’s not worth it!
2. You Are Too Shy – Podcasting won’t be for everyone. It takes a certain personality and skill to deliver content verbally in an engaging way. Some business owners won’t feel comfortable making the switch, and that is completely okay!
If you feel comfortable with your blog as a means to educate and connect with your audience, by all means, keep that up!
However, if you have the margin and personality to take your business to the next level through podcasting, we think it could be a great avenue to grow your name recognition and ultimately your income.