Do you know that more Americans know what a podcast is than who is their Vice President? Podcast marketing is gaining more traction, and business owners need to be more educated about its benefits.
Content Marketing is fast becoming an integral part of a business marketing strategy. Many more businesses are recognizing the importance of content as a marketing strategy.
However, content marketing is also changing. For example, visual elements in content are proving to be more important. Content with visuals can produce 94% more views on social media and a 37% higher user engagement.
One of the changes in content marketing is the increased interest in podcast marketing; an increase that started in 2015. Podcast marketing is fast becoming a great platform for brands to communicate with their target audience and establish authority.
The Rising Importance of Podcast marketing
In the United States, there are now about 630,000 podcasts.
Statistics from the Infinite Dial 2018 Report shows:
64% of Americans have heard of a Podcast, and 44% of Americans (124 million) have listened to a podcast. That is an increase of 12 million over the past 12 months.
73 million Americans now listen to a podcast monthly (an increase from 24%). 48 million listen weekly, and 16 million consider themselves avid fans.
On the average, podcast listeners tune in to seven shows in a week (an increase from 5).
But it is not just the number that makes it an interesting prospect. The demographics of podcast listeners are also exciting for marketers. 32% of people aged 25-54 listen monthly. 44% of podcast listeners are between the ages of 18 and 34. According to statistics from Statista, 45% of podcast listeners earn household income over $75,000 (the figure is 35% for the whole population).
Similarly, 27% of podcast listeners have a 4 year degree (the figure is 19% for the population). More significantly, 94% of podcast listeners are active on at least one social media platform (it is 89% for the population)
However, the growth is not only limited to the United States. In a research conducted by Statista, they realized that 58% of respondents in South Korea are monthly podcast listeners. The figure is 33% in Australia, 28% in Canada and 18% in the United Kingdom.
Advertisers have begun to key into the growth of podcast marketing. Advertising revenue went up from $69m in 2015 to $220 million in 2017.
Why People love Podcast marketing
There are many substantial reasons for the increase in the growth of podcast marketing.
One of the reasons is that people can listen to podcasts while commuting. 23% of active podcast listeners listen from their cars. Podcasts are a great way to consumer information while driving to work or from one location to the other.
Another significant reason is the rise of the smartphone. 69% of podcast listeners use a smartphone. The convenience of subscribing and listening on a smartphone or mobile device is also a huge factor in the increased popularity of podcasts.
The nature of podcast marketing itself has been responsible for its growth. People love to get information in an orderly and consistent way. Podcast moves from episode and episode and follows a logical path that makes it more convenient for information consumers. Similarly, many podcasts feature interviews with industry experts and popular people who are mentor and role models. The possibility of listening and interacting with such people is also a big factor in the growth of podcasts.
Why you should use Podcast marketing
The demographics of podcasts listeners offer immense opportunities for marketers. It is therefore not surprising that 69% of podcast listeners say that podcast ads have made them aware of new products and services. 63% of respondents in a particular survey purchase what the host of the podcast was selling. Also, 80% of podcast listeners listen on an episode by episode basis.
Podcast marketing can be a very effective way to communicate your brand and establish yourself as an authority.
Podcast marketing is an alternative to video marketing. Producing videos is more expensive and requires more technical expertise. Small business owners can, however, use podcast marketing an alternative to the more tedious and more expensive video marketing.
Another advantage is that podcast marketing is not yet cluttered like blogging. There are still opportunities to be an early adopter and reap the benefits.
Two ways to use Podcast marketing
One way to do this is by featuring on a popular podcast in your industry.
Look for an influencer in your industry and feature on the podcast. Podcast marketing is a platform for massive targeting. Whatever product or service you offer; there is probably a podcast that is dedicated to your target audience. This means that every effort you put into podcast marketing is targeted and directed to the very target audience for your product.
Secondly, according to Seth Greene (quoted by Kate Harrison), featuring on a popular podcast also offers SEO benefits. “ITunes is a Page Rank One website, and every episode usually links back to both the show’s website and the guest’s website,” Greene adds. “Get booked on a handful of shows, with links back to your website for the right keywords, and watch what happens. Using the earlier example, if you Google ‘Kevin Harrington Sharkprenuer’, his show is 5 out of 10 listings on the first page.”
How then do you get such interviews on popular podcasts?
Getting podcast interviews works like guest blogging. Many of the best practices of guest posting apply to podcast interviews.
This article from Sumo is the most important on the subject. It is very comprehensive and explanatory. It details for you all the steps you need to take to research popular and relevant podcasts, pitch the podcast, get invited and create the actual podcast.
Create a podcast
The second way is to create your podcast and get your own audience.
Creating your podcast establishes you as an authority in your industry. Secondly, it is a great way of communicating your brand to your audience and increasing their confidence in you. In this regards, it is more like your email list. There is a sense in which you “own” your audience, and this can be a great opportunity to sell, up-sell, cross-sell and introduce new products or services.
Furthermore, establishing a popular podcast can also be a way to generate ad revenues from advertisers who are willing to pay to get their products or services featured on your podcast.
Podcast marketing will also improve your communication skills. Consistent production of relevant audio content will make you a better public speaker for the more significant occasions.
Recommended Resources on starting your podcast
Podcasts are growing in number. Globally and in the United States, the interest in podcast marketing is increasing.
Smart business owners should begin to explore the benefits of podcasting before the space gets cluttered. You can take advantage of podcasting by featuring on another person’s podcast or starting your podcast.
Whatever you decide, it is essential you start formulating and implementing a podcast marketing strategy for business success and growth.