How a podcast can help your small business

One such powerful tool that has gained significant traction in recent years is podcasting, with 66% of today’s consumers preferring podcasts over traditional television. A series of audio episodes that listeners can stream or download; podcasts have grown in popularity by showcasing valuable and educational content on various topics, experiencing an average of 32% of UK adults listening monthly. 

To discover exactly how starting a podcast could help your small business, continue reading our article as we explore the top ten benefits. 

Benefits of podcasts 

Podcasting offers a wealth of potential benefits for small businesses looking to enhance their marketing efforts, engage their audience, and drive growth. From building brand authority and increasing traffic to creating additional revenue streams, a well-executed podcast can be a game-changer for your small business. Embrace audio content and unlock new opportunities for your business's success. 

Create and spread brand awareness 

Podcasting is a great way for your business to develop a unique brand voice and provides an opportunity to resonate with your existing audience, as well as any new prospective listeners.

The tone, style, and personality of your podcast is what will differentiate you from industry competitors, making your brand more memorable to listeners. This frequent form of communication with your audience is an excellent way to build up brand recognition and familiarity, in addition to enhancing your position in podcast hosting sites and placing you higher up within their search results. Avidly shares how amplifying the presence of your podcast in their directories will also help to micro-target new customers who may be interested in your products or services. 

Grow authority 

Podcasts are an excellent platform for sharing your expertise in your particular field. By discussing insights, industry trends, and professional knowledge, you’re able to position your business as a thought leader, helping to build credibility and trust with your audience, which Media Training supports is vital for small businesses. Showcasing your business and raising your standing within your industry will aim to attract customers who value your thoughts; building authority and making your audience more likely to turn to your business for products or services related to your podcast content. 

Becoming a known expert and recognised as a trustworthy source in your industry should offer you a competitive edge, as well as allow more ease within potential partnership and recruitment processes. 

Accessibility to start-ups 

One of the best cost-effective marketing methods; starting a podcast is relatively inexpensive in comparison to paying for advertising and promotion. It’s simple to get started, with the primary costs including purchasing a microphone, editing software and a hosting platform, where applicable. Cost-effective ways of marketing your products or services are greatly beneficial, especially when you’re a small business or self-employed operating on a smaller budget. An article by Story Ninety-Four shared how the inexpensive marketing stream produces evergreen marketing assets – an invaluable insight which will help small businesses invest their money into materials that will last. So, once you’ve got your equipment, found a quiet place to record, and decided on a theme for your content, you can get started. 

Convenient listen 

In addition to accessing a new audience of podcast listeners and providing more ways for your brand content to be consumed, the audio format makes your content much more accessible for those who aren’t able to consume traditional media, such as blogs and social sites. Having access to downloadable content is ideal for those always on the go, with the ability to listen wherever they are and consume much quicker than reading. Allowing your content to be consumed whenever the audience chooses is a key benefit which will help to set you apart from competitors.  

A personal touch 

Unlike written content, podcasts offer a more intimate and engaging way to connect with your audience. The typical conversational and informal tone that we hear across podcasting is suggested to lead listeners to foster a connection and sense of familiarity with your brand. When someone listens to your podcast, whether it’s once or weekly, it gives them a personal insight into you and your brand. This type of engagement with your audience and potential customers is essential for building a loyal base and community, particularly by keeping up with their questions and even featuring their stories or reviews. This community-driven approach can lead to higher customer retention, ultimately leading to more sales. 

Sharing content which shows you as personal and approachable, and how passionate you are about your brand, can give you an edge over competitors who use traditional marketing methods, for example paid ads. Always make sure to introduce the wider team too – the more people your listeners meet, the more your audience can feel involved. 

Additional revenue 

Reported to grow at an annual rate of 27.6% from 2023 to 2030, there is a clear opportunity within the podcast market to aid in the growth of your brand and become a potential revenue stream. ConvertKit shared that, once your podcast has gained enough traction and an engaged audience, you can begin to explore monetary avenues. Sponsorships, advertisements, and affiliate marketing are some options to look at, generating additional revenue to support your business's growth, and potentially fund more marketing efforts. To help even further your sales efforts, make sure to always include links to any discussed or related products in the show notes. 

It’s important to note, the more podcasts you publish, the higher chance they’ll have of being successful and monetized. This growth can lead to a wider reach of potential stakeholders, benefiting your business prospects. 

Repurpose 

Podcasts provide a versatile content format that can be repurposed across various platforms. For example, transcripts of podcast episodes can be turned into blogs, or quotes and advice can be turned into posts to grow your social media presence. Repurposing helps you to save time on your marketing efforts, and not only maximizes the value of your content but also ensures consistency throughout your marketing strategy.  

Increase traffic generation 

By mentioning your site during episodes and including links to your website in the show notes, your podcast can be an effective tool for driving traffic to your website. An article reported that this increased website traffic can produce higher engagement rates, more leads and potentially more conversions. However, you must release episodes regularly in order to tap into existing podcast listeners, and grow your reach to a larger number of people who wouldn’t usually access your brand through alternative channels.  

Making your podcast available on various platforms such as Apple Podcasts, Spotify, and Google Podcasts should help you to extend to potential customers far beyond your immediate locality. This expanded reach can significantly increase your brand's visibility and attract a broader audience. 

Helps with networking 

Starting a podcast can open doors to valuable networking opportunities. Inviting industry experts, influencers, or fellow entrepreneurs to be guests can help you build relationships within your industry, an in-turn, foster connections which may eventually lead to collaborations, partnerships, and even referrals, all of which can benefit your business. This gives you the perfect chance to associate your brand with bigger names in your industry, working to enhance your authority and trust. A blog post from Ross Media Solutions revealed that guests are likely to feel valued and appreciate invitations to contribute, helping you to strengthen those important connections. 

Grow professional skills 

Hosting a podcast is an excellent tactic for improving your communication skills, boosting your confidence, and improving your ability to articulate ideas clearly. Learning to speak about your brand and expressing your passion is invaluable for any business owner and can positively impact other areas of your business too, such as pitching and collaborating. The more episodes you host and publish, the more time you can spend on your personal development and building confidence.  

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