We all have heard them--podcasts, recordings of a conversation between two or more experts, centered around a specific topic. We also know that radio is dying a slow and painful death, though its offspring, the podcast, is alive and thriving. Typically, structured as if they, themselves, are a radio talk show. Why have podcasts gained such traction in the last decade? Many companies are turning to podcasts to get traction in saturated, niche markets. Should your company use them to build your brand?
Here, we will explore Nesbit Marketing's top seven reasons why podcasts are a viable option for delivering a stronger message:
Moving With Your Target Clients:
Picture, trying to read an article--white paper, blog post, or social media post, while driving. Just thinking about it, raises those little hairs on the back of your neck, right? Generally, it is flat-out dangerous to even consider such a ridiculous act. How else can we be in potential client's cars or on the plane with them? Podcasts are a great way to reach people, that matter, while they are on the move. 22% of podcast listeners do so while driving. This, coupled with the fact that many decision makers are always on the move and tend to listen to podcasts while doing so. This statistic gives us a great reason to engage with customers, in a time that would otherwise be out of reach.
Higher Content Turnover:
Podcasts are like videos, in the sense that they are evergreen, recyclable, and take less time to create vs traditional written word, all while delivering more information. Podcasts are generally around 30 minutes long, meaning a standard podcast should only take about an hour or two to be ready for posting after recording, minor editing, and formatting. The average spoken word is 140 words a minute, meaning that you generate around 4,200 words of content in that 30-minute window. If you were to write, proof, and format that many words into a blog post or any other form of content, it could take up to a week to complete. Podcasts are a fast and efficient way to add additional content to your marketing channels.
Developing Thought Leadership:
If you regularly follow our blog, then you know we are always talking about thought leadership. Thought leadership is one of the modern marketing strategy pillars. It's an opportunity to instill the idea that your company, or a member of your organization, is a leader in the industry. Podcasts hold a special ability to convince a listener that you are knowledgeable in a certain area or industry. Especially, if you start to bring in other experts from related fields, clients will certainly see a major boost in your credibility.
Higher Conversion rates:
One of the most coveted ROI metrics, is conversion. Did someone ultimately make the decision to buy a product from your company after engaging with a marketing medium? Podcasts have exceptionally high rates of conversion. 63% of podcast listeners bought something the host promoted (Inc. magazine). When the host is your company, you are in the driver seat of how and when to promote your company, product, or service. Very few other mediums can boast such a high conversion rate.
Target Specific Niches:
Recorded conversations have the uncanny ability to penetrate deep into niche communities. Individuals actively seek out niche content when listening to podcasts. Once they find relevant niche content, they refer it to communities that they belong to, as well as, other individuals that follow the same interests. Companies can use this to their advantage, to reach people matching to their company's "perfect customer profile". This is especially true for business owners. 70 to 72% of businesses owners with 100 to 500 employees listen to podcasts (Forbes magazine).
Your company's visibility is increased every time an additional channel of communication is added, such as, a social media platform, blog, email campaign, or in this case, a podcast. Most companies have the major channels in place. This typically leaves them looking for additional outlets to showcase their brand. Podcasting is an additional way for your potential customers to stumble upon your company's content, beginning their discovery cycle. Adding a podcast is relatively easy, with the demands on time, relatively low. Many podcasts publish once a week and are available forever. Over time, that is a very substantial offering to prove your dedication to a customer, with relatively small investment--boosting ROI.
Fiercely Loyal Listeners:
Many podcast listeners plan out their listening habits during the week, based on the release of new content from established hosts. If they enjoy what they hear, they will be back for more. Loyalty in brands is one of the key components for long term marketing--the heart of all successful industrial marketing. A company that strictly adheres to a podcasts' posting schedule, creates the opportunity to develop a fiercely loyal follower and realistically, a potential client.
This all presents a strong case for why companies should consider podcasts as an additional channel for their thought leadership campaigns. A well developed and consistently, published podcast can do wonders for your exposure and brand loyalty. If your company is looking for new opportunities to market your company, podcasts may be the answer.
If you are thinking about starting a podcast series, please contact Nesbit Marketing with questions: