Opinions expressed by Entrepreneur contributors are their own.
If you’ve got a business to promote, podcasts are one of the most excellent tools to do it. Sure, blogging is easier. However, not everyone has the time to read over a few thousand-word blog posts to find the valuable information they need.
Entrepreneurs should come to peace with the fact that people have unique needs. So, it would be best to think about the types of content that suit a variety of different people. When it comes to the benefits of podcasting in pursuing this goal, they are immense.
Related: Why Every Entrepreneur Needs a Podcast
Mindblowing podcasting statistics to remember
On-demand listening, including podcasts, has steadily risen for years and isn’t going away. It’s no surprise since they are easy to listen to while you’re going about your business.
Still not convinced? Check out these impressive stats:
- According to research by Podcast Insights, there are more than 2 million active podcasts and counting.
- The most commonly used app for listening to podcasts in the US in 2020 was Spotify, with 25 percent of listeners saying they used it to listen to podcasts.
- Marketers in the US are predicted to spend approximately $1.74 billion on podcasts ads, according to eMarketer.
So, how can podcasts get you a piece of that delicious revenue cake?
Podcasts increase traffic generation
If you wish to send your brand’s message to people, you need to expand your reach. Podcasts are an excellent tool to do that because they help you reach new audiences and build familiarity.
The simple truth is, people are likely to subscribe to a podcast they like and become regular listeners. Try to be consistent, and you will soon notice the side-effect of having a loyal audience — a recommendation to a new audience.
This precisely is what will boost your reach and lead to new traffic victories and lead generation.
Podcasts build relationships and improve conversion
Once again, consistency is critical. You will build relationships with your audience by podcasting regularly, hitting that familiarity factor needed for engagement.
Typically people listen to podcasts because they feel they share values and traits of the brand. Build trust, and people are likely to go from engaged listeners to loyal customers.
Related: Top 25 Business Podcasts for Entrepreneurs
Podcasts are highly motivating
Several surveys have shown that people are more likely to buy the products podcast hosts promote. Therefore, it’s clear that podcasting could influence buying decisions in listeners.
Podcasts are great for building networks
This is especially important for entrepreneurs. Podcasting is one of the most effective communication tools to build networks with other entrepreneurs and thus expand your business in some new areas.
Uniqueness and personality are the two strengths to use here since podcasts are all about the good ol’ human connection.
Podcasts are fantastic for brand awareness
Podcasting has this magical quality that it does not seem like selling something. Therefore, it’s a fantastic channel to build brand awareness in an authentic, meaningful way.
If you manage to create the kind of podcast people search for, you already did a lot. Just remember to be subtle in your branding when podcasting.
Podcasts are a highly interactive platform
Podcasting is fantastic because it gives listeners the chance to get involved. And you want them engaged since engagement leads to higher revenue.
Podcasts are compelling and offer much more flexibility when conveying a message to the public. Moreover, it’s way less overwhelming.
Podcasts are not that complicated to create
For starters, all you need is a solid microphone and some headphones. In addition, there is a well of free editing software available online, with tutorials to help beginners on their podcasting journey.
And with time, who knows? You might like podcasting and decide to really dive in.
The Bottom Line
However big or small of a business you run, you should know podcasts are one of the most compelling ways to build your own loyal and engaged audience.
After all, real connection leads to engagement and engagement to revenue. So, don’t take way too long to hop on the train to higher sales.
Related: Podcast Advertising: Is Programmatic the Next Big Thing?