There is a reason podcasting is witnessing a boom – it fits into people’s lives.
It is the only online content platform that allows for passive, or indirect consumption.
In other words, people can actively listen to your podcast while Jogging, doing the laundry, going on a school run, getting on the bus to work or whatever task that makes up their day.
Would you try to read a blog post while driving? This is not a dare, please don’t try it.
Podcasts have been around since 2004, but they haven’t always been popular. Somewhere along the line, people realized the potential which explains why more podcasts have popped up so far.
Libsyn, a podcast hosting service found that podcast downloads increased to 3.3 billion requests in 2015 from the 1.2 billion requests in 2012. The study also shows a 75% growth in content providers within 2 years.
This is even better. Over 50% of marketers & agencies are considering advertising on podcasts within the next 6 months. That is huge! Ad spends on podcasts was estimated to be around $34million dollars.
Marketers are finding that people do not mind ads within podcasts because they are read by hosts and because they are naturally woven into the content. And here’s proof:
There’s a steady increase in the number of podcast listeners from 2013 to 2017 and from all indications, 2018 will not be an exception.
In this blog post, we will demonstrate beyond a shadow of doubt why your audience needs you to start a podcast. But before that, we should look at reasons people avoid podcasts and why you shouldn’t be bothered.
Reason No #1: I don’t have an audience
If we are being honest, this is a valid reason.
Why start a podcast if you have no audience? Who is going to listen to what you have to say? But on the other hands, this is a perfect opportunity for you to build an audience.
We have established above that people really do listen to podcasts. The smartphone penetration is at an all-time high – There’s just one key element left. Your podcast has to be something you are knowledgeable about.
Because podcasts are easily consumed, and because you command a lot of knowledge in your area of interest, you have a huge chance of building a loyal audience that trusts and engages with your content.
Reason No #2: I don’t have a studio
Do you have enough room for a desk?
Then you’ve all you need. Dotun once held a podcast with a guest in a hotel lobby. It all comes down to your equipment (we’ll get into that later).
Reason No #3: I can’t afford those fancy equipment
Sometimes, our assumptions are far from reality.
The basic types of equipment you need (to get started) are a computer, microphone, if you have a Mac, it comes with Garageband already built into its applications and of course, you need to discuss a good topic that will keep people hooked.
And now, let’s get into the why you need a podcast for yourself or for your business:
1. People consume podcasts for longer periods of time
This blog post will probably take 10 to 15 minutes of your full concentration to read through.
As a marketer, you are competing the most for someone’s attention. There is an overwhelming amount of information available to be consumed, on the other hand, there is a lot of distraction and noise, so much so that focusing all your attention on one blog post is quite difficult.
A podcast meets people in their comfort zone. They can listen to you for up to an hour or longer while they do something else. The Building the Future podcast varies in length from between 40 minutes to sometimes as long as an hour and a half.
2. You don’t have much competition as a podcaster
Podcasts are growing rapidly, but you cannot compare the number of podcasts present today to the number of blogs and YouTube channels.
The difference is huge. There are 200,000 active podcasts, 19 million active blogs and about 1 billion YouTube users!
Podcasting allows you to compete with big businesses who dominate certain industries. If you were to go the normal route of blogging or vlogging, it would be a struggle to be seen amidst all their strong SEO dominance. Trying out podcasting gives you an edge.
3. You can build a community of loyal listeners fast
Nothing sells faster than a loyal community willing to purchase everything product or service you bring forward. We all know that. But the crux of the matter is, how do you build that loyal following?
By scaling intimacy, interaction and engagement. Running a podcast allows you to build a strong relationship with your audience within a remarkably short time.
A person who listens to your voice in his head every day or every week, will one day come to trust your opinions and your authority on whatever you choose to speak about. Why?
Because it’s real. They listen to your voice, they can pick up nuances, they can understand your fluctuating emotions, and you need them to, they can empathize with your story.
When you are able to find a common ground with your listeners, you’ve hit the jackpot. Literarily.
4. Increase the size and value of your network.
Never underestimate the power, influence, and reach of a solid network.
If your podcast is largely about you interviewing various guests for your show, the most obvious benefit of that is that you get to expand your network.
And when you need to reach out to people you might not have have been able to reach previously, your podcast is a great leverage for you.
This goes one step further, every person you have as a guest on your show has the potential to become a valuable contact for life. As at when this article was written, the BTF Podcast has had 39 published interviews. That’s a sizeable number to add to your network of players in the African ecosystem.
5. You can make money from your show
Just like blogging has stopped being a hobby, podcasting has huge potentials of being a money maker. There a few ways you can monetize your podcast.
If you’ve got high download numbers, you can reach out to brands, businesses, and people generally to sponsor your episodes.
If you have your own products and services? Even better. You can promote your books, courses, consulting services on your podcast.
Affiliate links also work. You can include a recommended resources section on your website (It could be books read by your guests) and include affiliate links in each of the recommendations. It means when someone clicks on that link or takes an action as a result of clicking that link, you get paid.
6. Position yourself as an authority in your industry
When you consistently share helpful advice on a specific topic or niche, it cements your position as an authority.
Despite the differences hosting a podcast has a similar effect as running a blog or writing a book. It builds your reputation. Becoming an authority in any field attracts other opportunities to you: you can get invites to speak at events and conference, host trainings, co-write a book among others.
If people truly believe you be a leader, it is only a matter of time before they come to you for consulting or coaching advice.
Our Podcast training with 15 smart people launches this May 17
We will be hosting 2-days Podcast Training Workshop in Lagos on 18 – 19th May. We will want to work with 15 smart people who want to invest and commit to launching their podcast.
The workshop is ideal for brands, bloggers, thought leaders and others who want to launch their own podcast within 60 days.
This is not a free workshop. There are lots of ‘free’ information on the internet about how to start a podcast. It’s ok to go for those. But this is not one of them. This workshop is for those are willing and can afford to invest money and time to attend.
We’ve had significant interests so far. However, not everyone that applied will be invited. If you’d like to be considered for this, fill this short form to see if you qualify.