Podcasts are a marketer’s dream. Yet, so many businesses haven’t discovered the joys of podcasting. They’re missing out on a chance to meet new business owners through interviews and cement relationships with prospects and existing clients for years to come. Here are five reasons you and your business need a podcast.
Over a third of SME owners are listening to podcasts. Nearly two-thirds of those people are listening to at least one podcast a week. You’re not trying to pitch something people don’t value – they’re already there, wondering why you’re not?
It’s impossible for you to engage personally with hundreds of clients each week. But a podcast is the next best thing. They can hear you and appreciate your expertise. Then your prospects can reach out to you when they’re ready to engage and you can get things moving.
Think about it. If someone had offered you a radio show each week back in the 1980s – you’d have grabbed the chance with both hands. This is the same thing but where you control the station and can present your best face, each and every time to your clients.
A podcast allows you to stay in constant contact with existing clients. If they’re tuning in to hear you speak each week, you can bet they’re not thinking of taking their money elsewhere.
Thus podcasting reduces the costs of churn and while this may not be a big deal in some industries where client turnover is freakishly low, in the vast majority of businesses – this is huge. Customer retention costs less than customer acquisition but a podcast lets you do both.
If you want to get to the ultra-polished daily podcast of major celebrities – that’s hard. But the majority of business podcasts are nothing like those and that’s part of their charm.
For your average business podcast, you’re talking about the requirement to put aside 20-30 minutes of your time each week to talk to a microphone. You can buy a portable microphone and do this anywhere (there are many podcasts recorded on the way to work in the car). Then, you outsource the production (cyou don’t need to spend huge amounts on this but it ensures the sound quality is good while you can edit out any mistakes you made at this point).
Not only is it cheap to create a podcast but hosting is usually free (as long as you have a business website and you can also upload to iTunes, Google Play, etc. which are all free dissemination services) which means that people can listen to it for nothing.
Your only start-up cost is a microphone and while you may want to buy a top-notch microphone as your podcast grows, less than $100 will get you a, more than good enough, mic to get started with.
It’s quite incredible how many businesses are missing out on the benefits of podcasting. As marketing efforts go, there are no other more personal ways for a business owner to connect with the public without spending a lot more money.
It’s also worth bearing in mind this one last thing – podcasting can become very profitable in its own right. As podcasts grow, other businesses in your niche may for advertising or to appear on it. Which means you can get even more bang for your very small marketing buck spent on podcasting.
Angela Henderson, business consultant and founder, Angela Henderson Consulting