Although podcasting stands as the freshest entrant in the realm of marketing channels, its remarkable growth over the past half-decade has seized the attention of a substantial percentage of business proprietors.
Whether it’s for personal enrichment, entertainment, or merely optimizing your daily routine, podcasting has ascended as the preferred medium for 48 million Americans. This figure reflects an increase of 6 million since 2017. To put this in perspective, around 20 million Americans tune in to NFL Sunday Night Football, the highest-rated television program.
Why You Should Ponder Podcasting
Creating your podcast can prove instrumental in expanding your audience reach, and with a well-devised strategy, it can potentially double your monthly lead count. Here are seven compelling reasons to contemplate launching your podcast for lead generation.
1. Podcasts Surpass Blogs in Popularity
Based on Google trends data, podcasts have eclipsed blogs in popularity and demand. This assessment stems from the volume of monthly searches for each term, indicating a greater preference for podcasts over blogs.
The blue line represents the demand for podcasts while the red line represents blogs
2. Google Favors Podcasts Over Blogs
Whenever you input a keyword into Google’s search bar, the search engine attempts to anticipate your intent by suggesting the most commonly used terms related to your keyword.
The screenshots below provide concrete proof of Google consistently favoring podcasts over blogs across a wide array of industries.
In the first screenshot, we conducted a search for “best parenting…” and it is evident that Google is endorsing “best parenting podcasts” over blogs.
For further confirmation, we selected a couple of other random terms to observe Google’s recommendations. When we entered “best personal finance…”, once again, Google prioritized podcasts over blogs.
In our final attempt, we searched for “best marketing…” and yet again, podcasts took precedence over blogs in Google’s recommendations.
3. Podcast Listeners Possess Strong Purchasing Power
Podcast analytics reveal that regular podcast listeners typically boast an annual household income of $150,000 or more. This is attributable to the fact that 30% of podcast listeners have pursued graduate education, while 27% hold a bachelor’s degree, attracting individuals with greater purchasing capacity and generating higher-quality leads for your products and services.
4. Podcasts Yield 61 Times More Leads Than Other Channels
While the figure 61x might seem astonishing, a recent survey of 168,000 podcast listeners found that 61% of respondents were inclined to purchase a product or service advertised on their favorite podcast. This is a remarkable conversion rate, especially when compared to the meager 1% conversion rate of traditional advertising and the single-digit conversions often seen with blogs. Thus, podcasting emerges as one of the most potent marketing channels for lead generation, potentially saving thousands of dollars in missed opportunities.
5. Cultivate a Devoted Community
Since your podcast often serves as the initial point of contact with potential leads, it can establish your authority and trustworthiness even before direct communication. Most podcast-derived leads have already engaged with your content, hearing your stories and regarding you as an authority figure. Podcasting fosters genuine relationships with your audience, transforming them into a loyal community ready to support your brand. By the time you engage with them personally, they’ll be primed to make a purchase, effectively turning your podcast into your top-performing “salesperson” operating round the clock while you focus on nurturing your newfound community.
6. A Cost-Efficient Marketing Approach
Podcasting ranks among the most cost-effective marketing strategies. Despite the availability of high-end equipment, you can initiate your podcast for less than $50. Its success hinges more on creativity and innovative thinking than exorbitant investments. An authentic and sincere podcast often outperforms productions with faux hosts.
Here’s a list of the fundamental tools required to launch your podcast:
- A USB microphone for professional-quality sound ($20-$50)
- Audacity, a free recording and editing software compatible with both Windows and Mac
- A podcast hosting account, with free options like Libsyn and Podbean available
- Royalty-free background music to enhance your podcast’s professionalism
- Promotion of your podcast on your website and via social media to attract initial subscribers
7. Reach Thousands of Individuals with Every Episode
Consider how many people you would need to meet and personally discuss your business with in an hour to reach thousands of potential clients each week. The logistics behind such an endeavor would likely prove insurmountable without technological aid. Podcasting offers an efficient solution, allowing you to reach thousands with minimal effort.
Imagine this scenario: You allocate 20 minutes to record an episode addressing a problem your services solve. Then, you invest an additional 10-20 minutes in editing and uploading the episode to your hosting platform. In total, you’ve dedicated 40 minutes of your day to release an episode that will remain accessible to listeners for years. During this time, it has the potential to reach thousands of individuals who may have never encountered your brand, all stemming from a one-time investment of 40 minutes.
That’s the influential impact of podcasting in the realm of business!
While you might be concerned about the time and technical expertise required for podcasting, rest assured that we can assist you. We’ve aided numerous clients in expanding their podcasts through a comprehensive digital marketing strategy. Visit our website today to learn more about our services!