Audio content has incredible power in a quickly changing digital landscape! In fact, research shows that around 424 million people listen to podcasts, and that number is only on the rise.
As the podcasting format soars in popularity, new opportunities are developing for creators who want to make an impact. The podcast market is estimated to reach a $4 billion market value in 2024. There’s never been a better time to get involved!
If you want to explore new pathways for brand building through audio content, it might be time to start a podcast of your own. Luckily, we’ve put together this comprehensive guide of everything you need to know, from designing your podcast cover art to growing an audience on Apple podcasts and even how to hook in listening from your first podcast episode.
Why Podcasting for Small Businesses?
Wondering why you should start a podcast? These are just a few of the benefits for small business owners.
Accessibility and Cost-Effectiveness
Becoming a podcast creator is possible for everyone, no matter your budget or technical skills. This medium is cost-effective, with many creators starting with only a minimal investment.
All you need is a microphone and an idea (as well as the willingness to learn how to edit and market your show) and you’ll be off and racing in no time.
The accessibility of podcasting makes the format a great choice for business owners looking to expand. You can get to work immediately on brand promotion and help your content reach new listeners who care about what you have to say.
Audience Building Potential
A podcast can also mean great things for your audience and growth potential! You can advertise your show and target more potential listeners who are strongly interested in your business and what it can offer.
Think of podcasting as a top-of-funnel marketing strategy, sitting alongside your blog content and social media posts. Each episode is designed to educate, entertain and inform audiences, building trust and brand awareness with potential customers.
A popular podcast is often a first step in further business development opportunities. Your audio content could help you build a loyal, engaged community and even drive sales conversions.
Establishing Strong Credibility
Want to highlight your credibility and establish yourself as an industry leader? Great podcast content can showcase your expertise and deliver value for audiences while demonstrating what you can do.
Over time, new episodes of a value-packed podcast will help you earn loyalty, making you the go-to within your niche. This can help you position yourself as a first point of contact when customers need a business like yours.
Steps to Leverage Podcasting
Wondering how to start a podcast and leverage it for the best results? Follow these simple steps!
1. Identify a Niche and Target Audience
First, it’s important to identify the niche your podcast episodes will serve and understand the audience your content will speak to. Who will be interested in a podcast like yours?
As a podcast host, knowing who your podcast is for can be empowering. You’ll know more about the goals you need to strive towards, and you’ll be able to plan for content that satisfies audiences. This allows you to stay on track to a successful podcast.
Hot tip: By creating a podcast show that targets your ideal customers, you can grow an audience filled with users who are most likely to buy from your brand in the future!
2. Craft Compelling Branded Content
Next, think about the content you will create and how you can align this with your brand identity. Are you staying true to an identity that will make your brand recognizable?
From your podcast title to podcast artwork and even the intro music or language you use, everything matters. Be sure to harness your existing brand fonts, colors and visual identity when designing your podcast’s artwork (as this will ensure your show is recognizable in users’ favorite podcast app).
3. Choose the Right Podcast Format and Structure
You need to select formatting options for your podcast. This will influence the quality and accessibility of your content. What formats will you use? How often will you update? Will you use a podcast website or common podcast directories? How long will an episode be?
Whether you opt for Q&A style interviews, daily mini-episodes or longer topic deep dives, be considered with both your podcast topic and the format of your show.
By thinking about these things ahead of time, you can start as you mean to continue and develop a strong sense of consistency. This can make podcast recording easier while also providing continuity for your brand and your audience.
4. Select Your Technology and Equipment
Finally, you should evaluate your technology and podcasting equipment. Will you use podcast microphones (such as a USB mic) or a camera to capture a video feed? How will you prioritize audio quality? Which options will you choose for podcast hosting? What about podcast editing software?
Think carefully about which technologies to invest in so that you can be sure you’re making the right choice now and in the future.
Plus, when it comes to audio editing, be sure to work with a professional in this space. While it is possible to edit your own show and publish it to your preferred podcast hosting platform, it’s always best to get a sound engineer or expert to edit and prepare your show for publishing.
Promoting Your Podcast
Once you know how to create a podcast, you’ll need to begin exploring options for promoting it. Here are some of your options for podcast advertising!
Using Social Media and Other Digital Channels
Currently, 17% of podcast listeners rely on social media to find new shows. A strong social strategy can help you reach your audience and make an impact. Explore various social media channels and platforms to target different audience segments.
Not sure how to keep up with social media content while maintaining your podcasting schedule? Use a helpful tool like Plann to share great posts ahead of time and track the performance of your content.
Exploring Industry and Influencer Opportunities
Influencer marketing can be a great option for growing your audience. You can reach new people within your niche or industry and benefit from the power of social proof. This can help you establish brand awareness and loyalty quickly.
Look for opportunities to collaborate with people who command respect in your niche. You might even consider hosting an interview show that allows someone new to guest star on your latest podcast episode.
Hot tip: Make sure to encourage podcast guests to reshare your episode content to their audience to instantly boost the reach of your show!
Leveraging Email Marketing and Other Traditional Channels
Good marketing doesn’t have to stop there. You can also explore more traditional advertising pathways, including email marketing and website ads. Send a notice to your subscribers when you have new audio content to share, or write a blog post about your show.
When in doubt, it’s important to remember that word of mouth is often the most effective marketing tool. Talk about your podcast as often as you can, and share it with people who you think would be interested in tuning in.
Measuring Success
You’ve made a podcast you can be proud of! So, how do you measure its success?
Key Performance Indicators (KPIs) for Podcasting Success
There are a few key performance indicators to keep in mind when it comes to podcasting. These mostly relate to valued metrics, including:
• Subscriptions
• Listens per episode
• Average listen time
• Downloads per episode
• Audience demographics
Make sure to review your stats on a regularly basis, such as each week or month to pin point which shows and topics are most popular with your audience.
Case Studies
Sometimes, you need to learn from the best! Check out these great branded podcasting case studies.
Case 1: TGIM
This Shopify podcast is made for entrepreneurs who can’t wait to get to work! The show highlights tips, insights, and success stories to help people achieve their professional successes. It also includes well-known hosts and guests to boost credibility.
What you can learn: There is power in serving a specific audience niche relevant to your brand and its offer, all while advertising your business.
Case 2: Inside Trader Joe’s
This Trader Joe’s podcast shares everything from staff picks to shopping lists and even inventory stacking processes. The behind-the-scenes show is designed to connect with their audience and humanize one of the world’s biggest brands.
What you can learn: People value other people and stories they can connect to, so authenticity can make your podcast successful.
Future Trends in Podcasting
New trends are on their way! Experts predict that 2024 will bring increased competition among podcasts and podcast apps, along with $2.56 million growth in podcast advertising.
As recording and editing software becomes more readily available, more people will begin to explore podcasting, leading to further market growth and even new monetization opportunities.
Ready to Promote Your Own Podcast?
With the right skills to help you, it’s easy to produce a podcast that launches your business into a whole new era!
If you need help automating social posts and embarking on a successful podcasting journey in 2024, you’ve come to the right place. Sign up for a FREE 7-day trial of Plann, and begin today.
