THE PODCAST BOOM: Why Persons in Business Should Pay Attention
Podcast stats for 2018 report that over 50% of all US homes are podcast fans, with a whopping 73 million Americans listening to podcasts at least once a month. On average a listener listens to 7 different shows per week. The recent growth in podcast popularity is astounding considering that just a few years back the majority of people hadn't ever heard of the term “podcast”.
With listener figures continuing to significantly rise year after year, it's fair to say that we're in the midst of a podcast popularity boom. But why should that be of interest to you and why should you particularly take notice if you're in business?
Firstly, let's look at why podcasts are doing so well and have become so popular.
Podcasts: why so popular?
Everyone’s Connected: Who of us doesn’t own a smartphone, tablet, iPod or laptop nowadays? Take a look around you next time you're in a restaurant, shopping-line or walking down a busy street...everyone is connected, ALL the time. On top of that, we love online entertainment, just look at Netflix, YouTube and Amazon Prime. Podcasts are another brilliant source of free online entertainment and education.
Never Been Easier: Downloading and listening to podcasts has never been more simple or convenient. People tend to opt for listening or visual experiences over reading, and there is no end to the subjects of interest in the extraordinarily diverse world of podcasting.
Ever Growing Demand: The more shows and great content being produced, the more listener numbers are growing...and this isn’t a cycle that looks to end anytime soon.
Podcast Guesting: why a marketing must for professionals and entrepreneurs
Audience Type: Reports show a particular pattern of the type of people who are listening to podcasts. These facts and figures have become more revealing with each year and business owners should take note. For example, the latest figures for 2018 show:
- 45% of listeners have household incomes over $75K
- 27% of US podcast listeners have a 4-year college degree
- 65% of monthly podcast listeners have been listening for less than 3 years
- 16 million people in the US are “avid podcast fans”
So podcast listeners are loyal, affluent and educated...is that the type of client you want? Knowing this type of detailed information helps business owners, professionals, entrepreneurs etc strategize as to whether being a guest on a podcast will give them the exposure they desire, reach the type of audiences they're interested in as potential clients/customers, and hone their message.
(If you're interested in seeing the full report where the above stats are from, take a look at Edison Research Infinite Dial 2018 )
Cost Effective Marketing: Think of the cost of having a social media expert on the regular payroll, what's involved in seeking the advice of an SEO guru or the price for advertising in magazines, on the web, TV and so on. In comparison, doing a podcast interview is ridiculously cost effective. Whichever end of the spectrum you opt for - contacting show hosts yourself, costing you nothing but research/interview time, or paying a professional interview booking service saving you time and legwork - the cost is amazingly low compared to other marketing strategies, and will potentially bring you massive returns if done correctly.
It’s Good To Share: In addition to the usual podcast platforms such as iTunes, SoundCloud etc, all good podcast hosts will post their episodes/interviews on their website and social media platforms. Soon after recording and once live, usually, the show host will send you a link to your episode giving you the opportunity to also post to your site and channels. This allows for tremendous exposure and has a massively positive effect on your search engine ranking! But it doesn’t stop there...
Latest studies show that 94% of podcast listeners are active on social media. And, listeners are more likely to follow companies and brands on social media. By doing a simple podcast interview, you're opening yourself and your business to far-reaching exposure and creating the opportunity of attracting loyal followers.
Marketing with No Shelf Life: Unlike many other forms of marketing, podcast episodes are evergreen. This is one of the greatest advantages of using podcasts as a marketing tool. As long as you deliver content of value intended to last, your interview/episode never has to have a shelf life. Your one-time creation of that particular interview, an hour or so of your time, will be searchable and available for download long into the future.
We have mentioned a few great reasons here for getting involved in podcasts, especially if you're in business. There are many other advantages. Podcasts are a trend worth taking note of! We are in the midst of a boom that doesn't look to end anytime soon. Experts of all fields are distinguishing themselves as thought-leaders, getting greater exposure, acquiring new business, selling more books, significantly increasing their SEO, driving more traffic to their sites and paying-it-forward to listeners by providing valuable lasting content...All this by simply stepping up to the mic!
Statistics from: Edison Research Infinite Dial 2018 released March 8th, 2018. Q1 2018 report from Nielsen released March 20, 2018.