“Most People That I Know Are Interested in On-Demand Stuff, Podcasts is Essentially Audio Netflix.”
– Jordan Harbinger
Just when we thought that we had left radio time behind us, the world was introduced to podcasts, the digital radio of the contemporary world. It took podcasts time to stand out among others but it surely outshined other digital mediums such as Instagram, Facebook, and Snapchat in terms of reaching audiences.
If we look at the annual joint report, the global market of podcasts will round up to $4 Billion by the end of 2024. Moreover, another predictive report from The Insider report states that podcasting will become a $94.88 Billion Industry by the end of 2028. Now that’s something huge, right? Now, imagine what you are missing when a medium has such huge growth potential and your business is still not using this medium of marketing to reach out to the audience.
When it comes to small or medium businesses, all they need at their beginning stage is the medium that can directly pitch their business to their target audience. That is where podcasts have the ability to enter the picture and steal the show.
That being the case, this blog will effectively highlight the benefits podcast marketing will bring to the growth and success of your business. So, let us dive right into the blog and discover the benefits of a secret ingredient that is currently missing in your marketing strategy which is podcasts.
5 Essential Advantages of Podcasts Marketing For SMBs
- Low Cost, High Conversation
As we all know when we start a business, the financial circumstances are quite constrained. All we look at this stage is how we can save the cost and still make the effort in an efficient manner. This brings us to the very first and the most notable benefit of podcast marketing for your business: it’s a cost-effective medium that can make a huge impact.
Let me explain, what is the ultimate goal you think of whenever you do marketing on any medium? The answer is simple, to have higher conversion rates that means you expect that if you invest an amount of effort in something, it should lead to some profit for your business. And this is what podcasts have to offer on the table they will definitely result in better conversion rates than any other medium
To substantiate, as per statistics, the conversation rate of TV is 3.1%, print is 2.4%and digital mediums are at 1.1% whereas all of the above podcasts offer a whopping 34% conversion rate on average. Still not convinced? Let’s have a look at the return on investment rate of podcast campaigns
By giving the validation, the same statistics also state that for every dollar you invest in creating a successful podcast campaign, you will get 242% ROI on every single dollar spent.
Moreover, remember this, whenever you choose a cost-effective medium for your marketing, it not only saves you money but also prepares your business for future scalability. This way, you will be effectively able to get your business scalable in no time, if you choose the right medium.
- Podcasts Offer High SEO Benefits
Not many people know it but if done effectively, podcasting can bring many SEO benefits that you can leverage to rank higher on Google. Let me explain how. We all know that effective keyword placement can make your business’ website rank higher, what we don’t know is that the case is the same for podcasting.
Just like blogs, if you optimize your podcast with the relevant keywords, it will assist you in optimizing your podcast and making it rank higher on search engines. Similarly, you can also add high-volume keywords of your niche in the title or meta description to optimize your website for the better.
Another way you can utilize podcasting is to have a strong link-building strategy for your website. A strong link-building strategy will take you one step closer to proving your authoritativeness to Google which will result in a better ranking on the search engine.
When your podcast will rank higher on Google, you will be able to reach greater target audiences which increases your chance to convert them for enhancing the growth and fulfillment of your business objectives.
This way, you will be able to enjoy the SEO benefits of the podcasts as well which will assist you in enhancing the growth of your business.
- Less Time Investment Required
Being a small or medium-sized business, you really do not have a big team of digital marketers that can invest their whole and soul into planning the marketing campaigns. What you need over here is a medium that requires a little effort and time investment, so that you can focus on other significant tasks.
Seeing the desires of SMBs, here comes another tremendous benefit of podcast marketing that requires minimal effort compared to other digital marketing mediums such as creating engaging videos to deliver brands’ messages.
All you need to do is get an engaging idea, and a good voice, and you are ready to record. The content of your podcast can be related to anything such as
- Tell stories of your brand or anything other.
- Conduct celebrity interviews
- Hold individual shows
It will not take you more time to record a podcast if you have everything strategically planned beforehand. You can use the effective knowledge of the Pareto Principle to plan out the whole recording process beforehand to save time.
- Keeps On-the-go Audience Engaged
We all know that people are getting busier and busier day by day. They are always on the go. This is why podcasts can be a perfect medium for you to interact with your always-on-the-go audience. As people are getting busier but they are also getting bored while performing their daily errands in the office, at home, or even while traveling and this gap of being bored can be filled with your engaging podcasts.
In fact, if we look at the statistics, 52% of podcast enthusiasts are listening to podcasts while commuting to work or while they are working. This is where podcasts can be your hidden gem, create content that is engaging enough for your target audience and increase your online presence rapidly.
If you successfully engage your audience, your brand will get retained in their subconscious minds in one way or another. This will give you a wide opportunity to convert your audience into leads and take your business to the next level.
Additionally, this anywhere and anytime listening feature of your podcast will even make it easier for you to engage your audience effectively. Once you get successful in catching the attention of your target audience, there is no way of going backward on the ladder of success.
- Encourages Better Collaboration
Collaborations are always a great way to enhance the audience base but collaboration through podcasts is even better. Via this, we have come to our last but not the least benefit of podcasting that it encourages better collaboration amplification of your brand.
As we all know that influencer marketing is on the rise all over the world, you can collaborate with others who have their own personal podcasts and get your businesses promoted through them.
As an alternative, if you think you are low on budget, you can also collaborate with different businesses with the mutual benefit of promotions to get the opportunity to tap each other’s audience. This will assist in enhancing your audience base without much monetary investment.
This way you will be able to expand your audience which will ultimately result in better growth and success of your business. To encapsulate, whether we accept it or not, a huge portion of future marketing will be occupied by podcast marketing. Moreover, looking at the benefits it is pretty clear that podcast marketing can be one of the cornerstones that can assist you in enhancing the growth of your business. So what are you waiting for? Pick up your audio sets and start podcasting today to enjoy its incredible benefits for your business