We’ve officially entered the age of the podcast.
From investing to NFTs, sports betting to fashion, reality television, fitness and beyond, there is no shortage of podcasts to pique your interest. According to Statista.com, 41% of Americans have listened to a podcast in the past month — that number’s up three times compared to a decade ago. And, it’s only expected to grow — from 120 million in 2021 to 160 million in 2023. The reality is that podcasts are becoming a clear fixture in any successful media plan. But, should your business join in on the podcasting boom?
The experts say yes. So, what does it take for a B2B organization — specifically one with a niche audience — to do it successfully? Let’s dive in.
Five key elements to a successful podcast
Any business thinking about starting a podcast should consider the following: audience, time, employee resources, consistency, and content.
1. Audience: Start with who you most want to reach.
Your audience is the most important consideration to nail down, and will vary depending on the intent of your podcast.
Your goal may be to showcase success and generate demand for your product or service, to demonstrate thought leadership, to recruit new employees, or a combination of these. Once you know your intent, the key is to keep it simple, and let your audience be the guiding force behind your content.
2. Time: Be realistic about the investment.
Like most content, podcasting is a long-term play. In addition to the time it takes to build an audience, it takes time to create content.
You need to identify whether your team has the time and internal buy-in to make podcasting happen. From there you can begin to build your community and generate content that appeals to them.
3. Internal resources: Secure buy-in and set up the team to make it happen.
Internal resources are a must. Who on the team has the time and ability to support a podcast? Is there an appropriate host who understands the podcast’s goals and can create the engagement you’ll need? Do you have the right leadership backing? If your CEO isn’t invested in the idea, you can almost guarantee it won’t become a priority for anyone else. Podcasts can build credibility, trust, and reputation for your business, but the foundation must be built internally first.
4. Content: Define your subject matter.
Do you have enough to talk about? You’ll need to ensure a continuous cadence of content as you build up your audience. If your business is locked in on one specific topic without much room to tap into new ideas, podcasting might not be for you. On the other hand, if you’re putting out new products, innovating in new industries, working with interesting people and exploring new ideas, it might be time to consider a podcast.
Remember: if you don’t talk about it, someone else will.
5. Consistency: Plan for the long term, and commit.
Consistency is key. Don’t underestimate the need for a steady stream of material to engage your listeners. Consistently putting out content will give listeners something to look forward to each week or month, building your audience along the way.
And of course, content production isn’t easy. Having a podcast calendar, a dedicated content writer, an SEO analyst, or even a trend researcher involved can take on some of the lift — and so can the right tools.
Offering a newer, digital avenue for storytelling, podcasting allows you to give your brand a voice and engage your audience in new ways. If you’re able to identify your niche, win the internal support you need, and keep high-quality content flowing, podcasting provides a platform to share the insights and expertise of your team and partners — and cement your brand’s position in the market — while creating a valuable resource for those you want to reach.