5 Reasons Why You Should Start a Podcast
Nov 19, 2019
Podcasting continues to grow in popularity, but is it right for you and your business? If you’re looking to create a meaningful connection with your audience and you’ve got a passion for sharing your message, you need to start a podcast. Here’s why.
It’s A Growing Media
By 2022, it’s estimated that podcast listening will grow to 132 million people in the United States. Podcasting has grown as a traditional media, with 61.2% of listeners spending more time listening to podcasts than they do consuming TV shows. Podcasting advertising revenue in 2016 totaled $169 million in the United States. In 2018, it grew to over $400 million. By 2020, podcast advertising revenue is predicted to reach $659 million, and $1.6 billion by 2022.
Longer Format, Deeper Dive, Improved Brand Trust
With a blog post or social media, the best you can hope for is a few minutes of your audience’s attention. The average length for a podcast is 43 minutes. With that kind of time, you can get far more in-depth on a subject than a blog post could, and cover subject matter that’s too complex for social media. Covering educational topics establishes you as an authority on the subject and builds valuable trust in your brand.
Podcasting Builds Personal Connection With Audience
Podcasts are on-demand audio, typically listened to while going about daily activities such as commuting on doing housework. Because listeners have already opted-in to listen to your podcast at all, you’re starting with a more engaged audience than traditional media. Podcasting formats, including panel discussions, narrative storytelling, and two-host talk shows, mimic small group or one-on-one conversations. This leads listeners to feel as though the host is speaking directly to them and creates an intimacy that other mediums lack.
Provides Repeat Touch Point With Audience
Those of us in marketing will tell you it takes an average of seven touches before a lead converts. Podcasts provide a repeat touch point, and a powerful one at that, given the personal connection podcasters build with their audience. Regularly posting podcast episodes provides highly shareable, perennial content for your brand while checking in with your podcast subscribers. It’s a great way to keep your brand top-of-mind.
Podcast listeners are incredibly loyal and committed to hearing out the full episode. 44% percent of monthly listeners enjoy most of the podcast; 42% check out the entire episode. But does that loyalty translate to sales? It sure does! 38% of people who listen to podcasts state that they have purchased products or services mentioned on those podcasts, and 54% say that they are more likely to consider the brands they hear advertised on podcasts.