So you may be wondering: how can I make money from a podcast? Is it really possible?
Let’s flip that: can you use your podcast to help grow your business? Podcasts are a great way to build meaningful relationships with your audience and gain trust. The more passionate you are about your business and what you stand for, the greater your support is likely to be.
You can start by showing your audience that you’re a real human being, and then by creating content to address their needs and concerns, as well as your own.
Podcasts establish stronger, more powerful connections than posting a photo on social media. People are craving a connection to where they’re spending their money. Studies have shown that conversion rates are higher when your audience feels as if they know you and trust you. Read on to learn a couple more tips about growing your business through a podcast.
How Can I Use a Podcast to Grow My Business?
The first thing you need to start with is the goal of your podcast. Sure, you're looking to grow your business, but how? Are you looking to attract enterprise clients? Or maybe you're trying to grow share of mind. Are there charitable efforts in your organization you're trying to highlight? Do you want to network with your guests? Or do you want to recruit top talent by highlighting your company culture? It's okay if this changes as you spend some time with your podcast, but by starting off with a firm idea of what you want to accomplish, you can make firm decisions about what your show looks like.
Next, think about your audience. The more specific you can get, the better–in fact, we encourage people to create audience personas for their show. Who's your ideal audience? This might not be your ideal customer, especially if you're trying to expand into new demographics. What's their age? Income level? Where do they live? How familiar are they with your business? What do they do for fun? What brands do they already love? By combining your goal with your audience, you'll be able to think really strategically about the content of your show.
Next, introduce your audience to your brand: what is it? What is your vision? What are your long-term goals with this product?
Abandon the need for more–more listeners, more followers, more money. Begin your podcast with the intention of getting to know the best way to serve your audience before focusing on getting them to buy.
Present yourself as your own advertiser. It shows that you take yourself seriously and forces your listeners to take you seriously, too. Consider using a discount code that’s uniquely created for your listeners to track the effectiveness of an ad.
Upgrade Your Content
You can merge new-school marketing techniques (like podcasting) with some old-school marketing techniques. For instance, provide your audience with a downloadable PDF with a guide for the day’s episode. This funnels the listener into becoming an email subscriber, which brings them into your brand’s ecosystem. Always come from a point of value. What are you providing that makes someone want to subscribe to your email list?
Also: How are you training your audience to listen to your show? Always try to take your audience beyond your show. In between episodes, you should be connecting with them, engaging with them, and providing them with the opportunity to receive additional content, whether that's buy subscribing to your newsletter, following you on social, or joining a Facebook group.
Don’t assume that people are going to look at the show notes or write down vital information. Remind them of your call-to-action during the beginning, middle, and end of the episode.
Lots of brands and businesses are just faceless entities to their customers, who only think about them when they need something. Podcasts are a great tool for making your brand approachable and reaching new audiences, especially when you've got a strong concept that offers potential customers something they can't get anywhere else.