Your Overall Content Strategy
A podcast is an audio file that is available for download or streaming to a desktop or mobile device. Typically, it consists of a series of episodes released on instalments as part of a show. You can listen in free or via subscription.
Among the most popular podcasts include The Joe Rogan Experience, The Ben Shapiro Show, This American Life, and TED Talks Daily.
Here are some important statistics you should know about podcasts:
➔ As of April 2020, there are 20 million podcast episodes online.
➔ More than 500,000 of them are active shows on Apple with content available in 100 languages.
➔ Nearly 8 in 10 people are familiar with podcasts.
➔ Half of the American homes listen to audio content.
➔ Nearly 70 million Americans listen to at least one podcast a week.
➔ Almost half of the podcast listeners have buying power as their mean annual income is $75,000.
➔ 8 in 10 podcast listeners belong to the 12-54 age demographic.
When people think of content marketing, oftentimes, they only consider video and text. One reason that scares people away is the length of an episode. According to data, the average podcast lasts 43 minutes. With videos, for example, you can add fillers to keep the viewers interested. Meanwhile, the standard blog length is about 2,000 words. For the average reader, it will only take between 7-10 minutes to finish the whole piece.
But you have no such luxury with podcasts.
Understandably, it is intimidating to fill all that dead air, if you have a boring topic or you have nothing to say. Here are seven reasons why you should include podcast in your overall digital content plan:
Value for money -- Podcasts do not demand much in terms of production cost. You only need a soundproofed room (which you can DIY on our own using YouTube videos), decent audio technology, and a microphone. Most of the expenses are also spent during the initial preparation and launch.
It is mobile-friendly -- Podcasts are designed to reach out to people who are on the go. Most of the listeners consume their favourite podcasts while in their car or public transportation, as well as outdoor activities. Edison Research says about 7 in 10 listen to podcasts on their mobile gadgets.
It gives you a platform to showcase your expertise -- For companies, podcasts offer an opportunity for them to share their message with minimal interruption. They can also engage their customers and address their concerns on the fly. You can also leverage this interaction to solicit suggestions and recommendations from your customers on how to further improve your products and services. In the same vein, you can also connect with the experts in the industry to ping-pong ideas with the ultimate goal of educating your audience.
You can piggyback on a growing industry -- The number of podcasts is rapidly expanding. Technology has finally caught up with the demand. New pieces of audio equipment now are cheaper than ever, allowing the average person to invest in them and start their own show.
Edge out your competition -- You can get an edge over your competition by offering podcasts as one of your value-added services. Another benefit is that podcast listeners are quite possessive of their shows. It would be easy to gain loyal listeners if you have something substantial to share.
Conclusion
There is money to be made in podcasts if you can launch a successful product. You can earn revenues through sponsorships, partnerships, and ads. Joe Rogan pulls in $800,000 per episode for his thrice-a-week show. Of course, that is one extreme example.
Nevertheless, if the podcast will allow you to reach your customers and provide them with a platform to engage with you, then your investment into this type of content strategy is well worth the effort.