I recently celebrated the one-year anniversary of having started the Make Money Your Honey Podcast. Since then, I've begun interviewing very cool guests, my engagement on social media has increased and my downloads keep climbing steadily every month.
While my podcast isn't a runaway success or anything, I have noticed how this project I decided to start on a whim has now turned into a marketing staple for my business.
I've also started getting asked lots of questions about it from other business owners who are considering podcasting for their own marketing plans. If you happen to be one of them, here's what you need to know.
Podcasting Is a Money-Making Opportunity
There are several advantages to having a podcast that makes them an appealing asset to any marketing strategy.
First, let's talk numbers. Mediakix gathered data from across the web to show just how popular podcasts actually are and what kinds of people listen to them. Here's what they found:
- There were 3.3 billion download requests in 2015.
- U.S. podcast listeners on average earn about $10,000 more than the average American. (A.K.A. They likely have the budget to pay for your products and services.)
- Over 35 million people listened to podcasts weekly in 2016
- Over 50% of marketers and agencies are considering advertising on podcasts within the next six months. (Can you say "another source of income"?)
As you can see, podcasting is clearly popular and there's opportunity to grow your business. Why not take advantage of a growing audience by starting a podcast of your own?
It's Not That Hard to Set Up
Although I knew podcasting was a great way to market my business, I put it off for a long time because I thought it would be difficult to set up. I'd tried many years ago and I couldn't get passed figuring out how to add my podcast feed to iTunes.
Fortunately, we now have companies like Libsyn which host podcast episodes and automatically send new episodes out to iTunes and Stitcher.
You also don't need a ton of gear. I simply record interviews via Skype and use an Audio-Technica ATR2100 as my mic. That's it.
People Love to Be Guests on Podcasts
About two months after starting my podcast I started getting requests from colleagues to come on the show. Shortly after that, I started getting requests from complete strangers who wanted to come on.
So yeah, I didn't even go out looking for my first few guests because they came to me as a result of already following me on social media or finding the podcast on iTunes.
Now that I've got more of a groove going and I've noticed that interviews perform well, I'm actually going out and asking specific people to come on as guests.
Again, I was kind of scared to do this at first because I was afraid of being rejected. After all, it's not like my podcast was a raging success.
To my surprise, tons of people, including those who I consider idols and influencers in my field, were more than happy to come on the show and share their incredible stories!
They Make It Easier to Blog
Here is what I absolutely love about podcasts: I don't have to write blog posts anymore unless I want to.
I simply get a transcript of the audio, send it to a writer I contract and she turns the transcript into an SEO friendly blog post for each show.
This has saved me a ton of time while still being able to come up with fresh content for my audience and connecting with them in a whole new way.
Quite frankly, I now believe that a podcast is more personable because they can actually hear my voice whereas before it was just text on a screen.
They Are A Lot of Fun
I saved the best for last.
Being the host of a podcast is a lot of fun. I don't have to worry so much about stuff like SEO, I can share fun stories and I get to pick the brains of really smart people for free.
Above all, I get to have really insightful conversations with amazing people that usually end in wonderful connections and lots of laughs.
As someone who spends a lot of time working from behind a computer screen, that human connection has made this all worth it for me.
Aside from it being a smart business move based on the numbers, podcasts are also a really fun and easy way to invigorate your marketing strategy with new life. If you've been considering starting one, don't wait any longer.