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Should You Start a Podcast for Your Business?

start a podcast for your business

While podcasting has only recently gained in popularity, it’s not as new as you think. With it’s basis in the radio shows that started in the 1960s, podcasting is only the continuation of an existing medium.

Today, podcasts are about more than entertainment. They’re also a way to learn more about business and even promote your brand. With so many popular business podcasts, should you start a podcast for your business?

A podcast is a fairly large time commitment, but it could pay off in a big way by connecting you with your niche. Before you start a podcast for yourself, read this guide closely.

Podcasting Statistics

Before we begin, let’s discuss why podcasting is so powerful. In 2020, 55% of Americans have listened to some kind of podcast. Many people actually listen to podcasts on a weekly or even daily basis, so this is a powerful way to connect with your ideal user.

Those who actively listen to podcasts listen to an average of 7 different shows each week. This number is on the rise, and it just proves there’s a huge audience for this medium.

As a podcaster, you build trust in your brand. You position yourself as an expert in your field, and you create content that resonates with your audience. This translates to a higher conversion rate for your business, whether you’re a digital content creator or you have your own side hustle.

Is a Podcast Right for Your Business?

Before you start your podcast, you’ll want to answer a few key questions. While podcasting sounds great on paper, it’s not always right fit depending on a few situations. Because there is an upfront time and money investment, you want to make sure you know what you’re getting into before you start a podcast.

Ask yourself these questions:

  • Do you have the time to put into getting your podcast set up? (5+ hours)
  • Can you stick to a regular schedule for creating podcast episodes? (Weekly, biweekly, monthly, quarterly, etc.)
  • How much can you invest in equipment and tech tools?
  • Do you have a niche you’re targeting?
  • Who is your ideal listener?
  • What goals do you have for your podcast? (More leads, traffic, etc.)
  • What ideas do you have for episodes (10+ to start)

If you can answer all of the questions above confidently and feel good about moving forward, a podcast is likely right for you. This is a low-risk way to make content in a way that appeals to your audience. While there is a time and technical commitment, it’s minor compared to other forms of marketing.

How to Start a Podcast

Now that you know whether this is a good fit for you, let’s explore how to actually get started. You’ll need these key things before you begin promoting your episodes:

  • Microphone: There are a number of affordable and higher-end microphones available, but it’s a good idea to use something specifically designed for podcasting and recording audio (ie: not your phone or headphones). Expect to spend $25 – $300+ on this.
  • Editing software: You’ll also need a way to edit your podcast. There are a number of free tools and more advanced, paid tools depending on your needs. You can also hire someone to edit for you.
  • Branding and artwork: Like all other elements of your business, you’ll need strong branding like podcast cover art and possibly even a website.
  • Hosting: Finally, you’ll need somewhere to host your podcast audio to stream on the popular listening platforms. Common hosts are Libsyn and Buzzsprout. Expect to spend between $5 – $15 per month.

Like most parts of creating content, there’s a lot to learn about podcasting. Don’t feel intimidated to get started. It’s always acceptable to learn as you go. The fear of getting started get in the way of your productivity mindset.

Promote Your Business with a Podcast

If you’re a business owner in 2020 or beyond, it’s important to find new ways to stand out. Promoting your business with a podcast can be a powerful way to reach your audience and build trust.

However, before you start, make sure it’s right for you. While it’s easy to start a podcast, you want to make sure this makes sense for your brand.

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