In the last few years, the growth of podcasts has skyrocketed. Most people using digital devices get their news and other information from podcasts. It has also become mainstream. Millions of people from around the world listen to podcasts every day.Â
From a consumer point of view, this audio platform is a great tool for acquiring new knowledge and as a form of entertainment. According to recent statistics, the ideal environment for listening to a podcast is at home. However, a bigger portion of podcasts is also consumed while stuck in traffic, on the move walking around, or comminuting. But why else are podcasts popular?
- There is content for any topic.
- They are readily accessible
- They are multitasking friendly
- They build communities to engage
- Easy to make and can be launched cheaply
- They are adaptable and intimate
Like other forms of well-crafted content, podcasts can assist a business in reaching the target audience and attract new consumers. Listeners can use word of mouth to discuss the podcasts they love and even subscribe, which leads to a loyal audience. With the rising demand for audio content and the numerous advantages that podcasts offer, how can you use it to grow a business?
It Gives You an Authority in the Industry
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For a business, a podcast can be a great way to showcase you are a subject expert, which in turn builds your brand’s credibility. Authority building can also open up partnership and collaboration opportunities which translate to more revenue for your business. Besides, if people see you as an industry expert, they are more likely to be swayed by your opinion if you recommend a product. Hence consumers will be more willing to make purchases from your business.Â
Increases a Business Revenue
While there are several ways to monetize a podcast, such as through affiliate marketing, sponsors, paid interviews, ads, offering courses and services, a subscription is another great way to grow your business and make money. Free audios are ideal when you are just starting a podcast. However, it’s best to offer some audio shows accessible only through a paid subscription after gaining a huge audience.
Instead of relying on advertisers, as a business owner, you can use podcasts subscriptions. This can involve an ad-free subscription or exclusive podcast content. Overall, premium podcast content can grow revenue for a business and expand its brands.Â
Boost Traffic to Your Website
A podcast can grow your business by increasing traffic to your website or blog. Once you have built brand credibility, people will want to know more about your business, motivating them to visit your website. As a result, it becomes easier to convert listeners into customers. For this strategy to work, you can use the podcast as a platform to let listeners know about the discounts your business offers and promote your products or services.Â
You can also creatively use a call to action to direct listeners to the website to give their opinion on the episode. Once the listeners visit your website and see the products or services you offer, it will lead to sales.Â
Ideal for Networking
Podcasting is great for building referrals and networking, which contributes to the growth and success of your business. You can invite specific guests or be a guest on another popular show, but it has to be in the same niche or industry that your business is in; otherwise, you will be providing irrelevant content to your listeners. Additionally, the more people you can connect with, the more successful your podcast will be, the easier it will be to network and build referrals that increase money-making opportunities for your business.Â
Helps to Grow Your Business Social Media Presence
Did you know that you can leverage your podcast to gain more followers on socials as a business owner? Social media is a popular marketing tool for a business because it helps create brand awareness and bring new clients. By sharing your episodes or giving a snippet on an upcoming episode on your business social media platforms, you will be increasing the number of people who view your brand. You will also capture the attention of visual consumers, market your brand to a larger audience and grow your business.
