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8 Reasons Why Starting a Podcast is Good for Business

Scaling your business is hard work in any industry, especially with the constant change in customer needs and new market entries. Working to stay on top isn’t the easiest job but luckily with everything else changing so fast, you can count on the fact that there will constantly be new tools developed for you to use to make your life easier. 

One of these amazing tools is podcasting. The first podcast was created back in 2004 but didn’t gain popularity until a few years ago and now its popularity is still growing daily. The New York Times posted on March 6, 2019, stating that “More than half of the people in the United States have listened to one, and nearly one out of three people listen to at least one podcast every month.”

Starting your own podcast will take effort on your part but it won’t break your monthly budget. You can structure your podcast any way you like, with short, 5-minute episodes or longer, 1-hour episodes, educational or just conversational. It’s all up to you how you want the world to see your business and what kind of energy you want them to connect your business with. 

With your podcast, you will be able to reach a wider audience and get your message out to more people. It’s also a great way to market your business in an informative and engaging way. Many people have found great success using their podcasts to bring in new clients for their business, boosting company revenue like never before!

To give you even more insight, here are 8 reasons why starting a podcast is good for business.

1.  Easy To Get Started

Starting a podcast can be quite easy to get started and there are a ton of great resources out there to help get you off the ground, quickly. The key is to keep going once you get started – that is often the hard part. This low barrier to entry is the perfect opportunity for your business. There is no need to “qualify” to be allowed to start a podcast; as long as you meet the criteria to be submitted to Apple Podcasts and other major podcast directories, your podcast will hit the ears of eager listeners in no time. Don’t be afraid to make an initial investment in equipment and an editing team, as this will make it a lot easier to consistently create new content that your audience will appreciate. 

The great thing about creating a podcast for your already established business is that you most likely already have an arsenal of content at your disposal that you can reuse to create content for your listeners. Over the years of running your business, you will have created a knowledge base of best practices that you can readily share with your listeners and show them why you are a trusted source in the industry. Plus, relying on your existing knowledge content help save you time and provide you with more than enough content to share with your customers, both on your website and on your podcast.

Related read: Best Tools for Your Podcast Recording Process

2. Increases Website Traffic

As you’re growing your business, one of your strategies to drive website traffic will, of course, be to use social media channels to draw new eyes onto your business or product. Well, why not add podcasting to the list of drivers as well? Having a podcast will allow you to connect more deeply with people, fostering true relationships with your potential clients, who will trust your referrals and your recommendations to check out products or resources on your website. 

Not only will your audience be more inclined to head over to your website, but they will eventually also buy from you simply because they trust you. Once your podcast takes off and gains a loyal audience you’ll become the leading authority on everything to do with your topic. Listeners will visit your website to gain more knowledge about the business and if you have a blog then even your blog will have more readers. They will know you as the trusted source in the industry and will more likely to be converted into paying customers as well. 

Related read: 10 Things You Can Learn From Surveying Your Podcast Audience

3. Inexpensive Marketing

Since you are in control of your podcast, the channel is yours to use as you please. As you grow your audience, more ears will hear your content and more listeners will be ready to receive your business promotions. Releasing ads after ads can become quite expensive, especially if you want to get a big response back. When it comes to podcasting there’s no need for you to spend a fortune to get your ads straight to people’s phones or laptops because podcasting is all about providing content straight to your customer’s preferred listening place. 

So instead of spending endless marketing dollars on social media ads and more, invest in growing your podcast and use it as a marketing platform for your business. Of course, don’t lose sight of the core content – providing your audience with value, which draws them back. But don’t miss the opportunity to promote your product or services to your loyal fans either. Especially not if growing your business was the main reason you started your podcast in the first place!

Related read: Email Marketing Basics for Podcasters

4. New Investments Options

Podcasting can be another great source of income if you start monetizing your it correctly. However, keep in mind that not all podcaster monetize their show simply because they don’t need it – but it is possible! As your show grows, you can start seeking out show sponsors or even ask listeners for donations to support the podcast. There are many ways to turn your podcast into a successful revenue stream for your business, which is always great to see your investment paying off. 

In addition to providing you with new leads and sales, your podcast can also provide you with opportunities to create new partnerships and sponsorships. More and more businesses are starting to partner with podcasters by sponsoring products for them to sell and in turn providing them with free marketing. So build up your podcast audience and reputation, and seek out those partners to help grow your business even more.

5. Includes Everyone

If your business has a few people that work from home, then what better way to keep them connected to your company than by having them tune in to your show? No matter where in the world they are, if they have access to a podcast player then they will be able to listen to the show. This is a great way to share internal information with your staff and contractors to make sure that everyone is up to date and operating on the same page. It can also become a very useful knowledge base to help new employees get successfully on-boarded to the company. 

On top fo that, your podcast will also give your remote workers the ability to be a part of the business culture you have at the office, so they won’t feel left out of anything. You set the tone for your business on the podcast, and how you communicate and engage with your team is key. This also applies to all of your customers, because no matter where they are or how busy they are they can always connect with your business through your podcast. This will keep them up-to-date with new product releases and allow them to be the first to get in on product sales. 

6. Promotes Business Culture

Most businesses want the world to know just how amazing their business is, how smoothly everyone works together, and unique their culture is. Well, the perfect way to share this amazing culture you have is by starting a podcast. Use your podcast as a sort of window into the company, so customers can see what your company is really like and what you stand for. Make your business culture apparent to your audience by sharing company success stories, discussing your company’s social responsibility, and more. 

Interview third parties to give their opinion about your business, or have a day where the podcast gets run by a few employees where they can just sit down and have a fun conversation about working for the company. Share the incredible stories of how your company is making a difference, whether locally or globally, and really highlight company values and culture through informative conversations to pull on more than just the core functions of your business, but actually gets to the heart of it.

Related read: Top 8 Ways to Create Buzz Around Your Podcast

7. Helps Build Relationships

Building relationships with your customers is one of the most important parts of running a successful business. It can be very hard building relationships in today’s modern age where writing emails can sound impersonal or giving them a call can be annoying. Luckily, as technology is changing it’s also providing new and innovative ways to build relationships with your customers. 

Podcasting is one of these amazing methods at your disposal! It’s a great platform to help you start new relationships and foster existing ones. Your listeners will be able to form a deeper connection to you than through any other platform. As we mentioned, they will come to trust you and will consider themselves part of the “community” that you’ve created with the podcast. 

Related read: 7 Strategies for Building a Strong Podcast Community

8. Reaches a Larger Audience

As a business owner, growing your customer base will always be something that you are working towards. Being able to market to a larger audience is one of the greatest benefits of building a successful podcasting platform. You will have the ability to connect to a larger audience, including potential customers. 

When you use popular podcast directories hosting sites like Apple Podcasts, Google Podcasts, or Stitcher then your podcast will be available to a very large audience base. As podcast directory searchability and categories improve, it will also act as the perfect search engine for anyone looking for a podcast about your topic. Be sure to also add your podcast to your main website, including show notes or a blog post to increase discoverability. 

Related read: The 10 Must Do’s for Successful Podcasting

Final Thoughts

There are a ton of ways to use a podcast to grow your business. It just requires a bit of hard work, consistent content creation, and initial investment into growing your audience. As your podcast grows and you establish yourself as an expert in your field or industry, so your opportunities for business growth will also expand.

Don’t miss out on the chance to get your company message into the hands of more people and don’t forget to provide your new audience with as much value as possible, to gain those loyal podcast listeners who could potentially turn into paying customers down the line. Put your best business foot forward, invite listeners behind the scenes of your company, and build those lasting relationships that will pay off in the long run. 

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