Can Podcasting Be Profitable For Your Business?
Podcasting has become increasingly popular throughout the years and many businesses are looking towards online streaming to promote their business. Although this seems like a foolproof plan with never-ending content to use, it may not be the best decision for everyone. Understanding how podcasts can help your business and why you should be using it will be far more beneficial in the long run than shooting into the dark.
Why Is Podcasting Used?
Podcasting can be used for many different things. Some use it for true crime reporting, learning languages, being current on world events, or expanding their knowledge about entrepreneurship. Whatever the case may be, it’s clear that podcasting is becoming the way of the future.
“Very few people start the ‘should I have a podcast?’ thinking process with ‘what’s a podcast going to do for my business?’” - Megan Doughtery
If you’ve decided that you want to start a podcast for your business to promote your products and grow your clientele, it’s important to first decide what the podcast will do for your business. Determine the main goal behind starting it and what areas you’ll see it improve for you. When we spoke with Megan Doughtery in our last Entrepods episode, this was one thing she made clear.
“The best way to approach the ‘how to get found issue’ is going to be ‘Why am I podcasting in the first place?”
The most common choice for businesses to select podcasting is to promote themselves through it. Though, you could run into several problems if you end up doing this incorrectly. Podcasting and streaming can be difficult platforms to break into, so having extra knowledge is essential in making it work for you.
Podcasting to Promote
You’ve decided you want to use your podcast to promote your business and have determined that it will help get your name out there and reinforce your brand. This is a great start! But how do you go about growing your podcast audience?
“The best way to get traffic on a podcast is not to host your own but to be a guest on someone else’s” - Megan Doughtery
Megan gave us the advice that being on someone else’s podcast can be more beneficial than solely hosting your own all the time. By being a guest on a different podcast, you’re able to talk about your business more and spread your expertise across multiple outlets. This, in turn, will give you a wider audience that will be attracted to your podcast and perhaps even your business as well.
“If you want to be making waves and creating conversations and becoming a source of news and information in your industry you can’t spend all your time talking to a guest who are at or below your professional level” - Megan Doughtery
The second best thing you can do for your new podcast is to bring on guests that have a specific niche and are experts in their field. If you bring in someone who has lesser knowledge or is in the same place as you in their career, the conversation can be less meaningful and not as full of substance as you would like it to be.
“Start with a season. Don’t commit to starting a whole podcast that’s going to go on forever and be a weekly show. Just try a season” - Megan Doughtery
Podcasting can be made simple if you learn the key fundamentals of podcast advertising. Start with a season and see how you do, don’t let yourself become overwhelmed with the thought of continuing this podcast for years and years. Happy podcasting entrepreneurs!