By Julia Hood

1 Million Downloads

After being a podcast host for one year, 1 million downloads describes how much the podcast has grown. I work with my cousin, and after we were asked to start our short content, entertainment podcast we were very excited. We thought it would be a fun way to pass the workday and enjoy time together; however, it has turned into a Top 20 Fiction Podcast on Spotify and a source of substantial income for the company I work at. By simply allowing ads on the podcast, my cousin and I bring in enough ad revenue that equate to one, almost two clients at our marketing agency. Never did I think such a project could be so lucrative and fun. I’ve become a podcaster and it is helping to pay the bills.

Current Trends

Most marketing agencies and companies know that ads are a powerful way to bring in revenue. Ads are an established marketing tool among an array of ideas companies use to try to get their name out there. I experienced the power of podcast ads on the show that I cohost.

Podcast Potential

As companies become more popular and trending, more people will use them for their products and services. In my experience as a podcaster and at my job at a podcast marketing firm, I have come to see the potential of podcasts to become a new marketing tool. The content form allows for a strong content bank to answer customer and product questions, the episodes help establish the company as a thought leader in the space, the interviews create networking opportunities, and the specific content strategy allows companies to reach their niche audiences.

Why Podcasts?

Having a strong content bank, being an established leader, networking opportunities, and using a specific content strategy are why businesses should be using podcasting as a marketing tool. With this competitive edge, companies can expect its customer base and profits to grow. While podcasts are just now being used as a marketing tool for businesses, those companies that start early will be even more established for when the podcasting trend becomes an expectation for companies.

“Audiences listening to podcasts are more loyal and are 20[%] more likely to connect with the brand on other social media. Hence podcasts can be an effective tool to channelize more traffic towards other social media channels that the brand has.”¹ What started out as a niche media outlet to listen to recorded audio from other sources has become an essential part of millions of individuals’ everyday routines. Adam Sternbergh notes the ancestor of podcasts was the good ole fashioned radio. In 2004, Adam Curry and Dave Winer made the first podcasting software called iPodder.² Now, 55% of people in the U.S. listen to podcasts.³ What was once a very obscure medium has become a way to reach over half the people in the US.

Provo Health: The Gusty Health Podcast

Many businesses are starting to incorporate podcasting into their marketing budget. A local Provo company, Provo Health, started a health podcast to publish content and build their customer base. Their business plan includes revenue growth through more consultations, but their businesses were struggling throughout the previous years. Tristin and Juanique, the owners of Provo Health, caught wind of a local podcasting company and decided to give them a try. After a year of working with the company and publishing weekly content on a podcast, they saw incredible results.

In an interview about the success of the podcast Tristin stated, “‘The total number of consultations coming through their clinic has almost tripled.’ While their clients have often found them through Instagram and other forms of social media, Tristin said that the clients have specifically mentioned the podcast as a reason for trusting them with their health. By developing authority through podcasting, their clinic has been busier than ever.”⁴

Creating a Content Bank

Podcasts have a unique format for a marketing tool. Most of the time, hosts interview experts on topics that the podcast aims to cover, while some podcasts focus only on original content. A successful strategy has proven to be a mixture of both. By having original content and interviews, shows can expand the topics they can cover to benefit the audience.

A more recent trend in the business world has been to write blogs to post on the company website. These blogs are used to answer customer questions and publish information relevant to the industry. Podcasts are a way for companies to publish answers to customer questions in a more engaging way. Listening to content is an easier way for customers to absorb information than reading an article on a website. By putting industry content in a form the audience can engage with more, businesses build a stronger relationship with their customers.

Thought-Leader Status

With the rise of social media, customer expectations of companies have changed. The customer is empowered, they make their voice heard, and they are more informed. If they are to consider using a company’s products, customers demand that companies are credible and informed. Corporate Social Responsibility has been on the rise since social media, and now, so has the demand for credible companies. The rising generation has more tech abilities than its predecessors.

With these new tech abilities, individuals can find the information they are looking for with greater speed and efficiency. Podcasts have become a popular means for individuals to access niche information which is why they are becoming a more respected information source.⁵

Podcasting Fulfills Customer Expectations

As mentioned above, some podcasts have only original content. This strategy is a powerful way to establish credibility. If podcast hosts don’t require the interviewing of other experts to cover relevant industry content, they are more likely to position themselves as thought leaders. To be considered a thought leader is another way for companies to occupy the top position in any industry. To be considered the best is one of the best ways to gain favor in the public eye and grow a customer base.

Expanded Niche Reach

There are millions of individuals that choose to listen to podcasts every single day. The following 12 of the main podcast categories and often have several subcategories in them.

• News
• Comedy
• Society & Culture
• Business
• Health & Fitness
• Arts
• Education
• History
• Science
• Technology
• Sports

(Source: Apple Podcasts)

This list helps showcase the infinite niche subjects that podcasts can cover. Podcasts can be personalized to a company and the desired customer very easily. Most businesses already have a marketing persona defined to be used in their marketing strategy. This same persona can be used to establish a content strategy for a company podcast. As podcasts have grown and continue to grow in popularity, so does a company’s ability to reach more of its unique customer persona.

Statista recently gathered the following data on just how many people are listening to podcasts.

(Source: Statistia)

This figure helps illustrate the need for companies to start podcasting. Each year, millions of more people are deciding to tune into a podcast. Yes, companies can simply run ads on these shows, but by having their own show, companies can tailor the content to meet the needs and expectations of their customers. Having a percentage of the millions of listeners that are already groomed to listen to niche industry content is a powerful way business can help drive profits.

 Networking Opportunities

Having original content helps establish a show as a thought leader, but podcasts can also be used to create strong business connections.

For some companies, their target customer isn’t the every-day-Joe with a smaller budget. Consulting firms might be looking for larger companies in need of their products and expertise. With this objective in mind, a podcast can now become a way to build connections with larger companies and other experts in the field. While they might not always become clients, networking is everything in business. Building brand awareness among other experts is an important business strategy.

How To Start

As a podcaster, I can confidently say it is no simple task. The show I cohost is a short form show, but we publish content every single day. Three to four hours of my week are dedicated to the podcast. For already busy company executives, four hours can seem like too big of a time commitment. While the above information clearly states the need for a podcast, the time commitment and planning required can’t be ignored.

Forbes recently published an article dictating some questions companies should ask themselves to determine if now is the best time to start a podcast. The frequency and length of episodes will be a big factor in determining if a company has the time to start a podcast.⁶

Most businesses post once a week or once a month. The consistency in the schedule is important for listeners so they know when to expect content and that the company is reliable. Without a team or specific individuals dedicated to the podcast, it wouldn’t be wise for a company to start right away. Companies that want to start podcasting should first evaluate how much time they can dedicate to a podcast, create a recording plan, and format from there.

Provo Health, BuyBoxer, Brilliant, and Alice Lane are all successful companies currently using podcasting as a marketing tool. These businesses have seen their customer bases grow in addition to their revenue.

While the podcasting industry still has room for growth and exploration, research is already showing the potential it has to become a marketing essential. Podcasts are not only an effective marketing tool, but a creative one with the means to fulfill changing customer needs and expectations. As a podcaster, I have seen their potential and power in action, and I look forward to seeing how podcasts will continue to change the marketing strategy of companies. Be smart, be a thought leader, build network connections, build a more engaging content bank, and be a business podcast.

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Notes:

1. Bubna, Vidhi. “Podcast as Marketing Tool: It creates value forlisteners.” Entrepreneur, 2020. https://www.entrepreneur.com/article/358877.
2. Adam Sternbergh, “How Podcasts Learned to Speak: The once useless medium that became essential,” March 19, 2019, in Vulture, produced by New York, podcast,  https://www.vulture.com/2019/03/the-great-podcast-rush.html.
3. org. 2021. “2021 Global Podcast Statistics, Demographics &Habits.” https://podcasthosting.org/podcast-statistics/
4. Sorensen, John. LaunchPod Media Gutsy Health Case Study, 2020. https://launchpod.media/casestudies/.
5. Välimäki, Ville Mikael. “Increasing brand awareness with podcasting: Case: The YesFinland Podcast.” (2018).
6. Golodner, Lynne. How to Decide if a Podcast is the Right Marketing Tool for You. Forbes, 2020. https://www.forbes.com/sites/forbesagencycouncil/2020/03/03/how-todecide-if-a-podcast-is-the-right-marketing-tool-for-you/?sh=7e0f89d73dce.