If you’re an entrepreneur or businessperson, you probably know all about keeping your eye on the bottom line. But even if your podcast is a passion project rather than a significant income stream, you still likely want to boost your return on investment.
Convenience of Podcasting
What makes a podcast a great way to showcase your service or company? Number one, it is so convenient for your potential audience. How many people do you know who don’t have a smartphone? Every single person who has one can access their favorite podcast with a few taps on the screen at a moment’s notice. At home, at the gym, while driving… That’s a lot of potential listeners.
Broad Listener Base
The number two reason that podcasts are a fantastic tool for spreading your message or building your business is that it provides an alternative form of content to those people who don’t enjoy reading articles or blog posts. Audio is a great medium for today’s time-starved generation as it provides the opportunity to multitask. Not to mention the rise of the smart speaker and the opportunities they bring for new audiences to find your podcast.
Balanced Cost
The third reason is that starting a podcast doesn’t have to be expensive. You can get good-sounding equipment to record with at a very reasonable cost. Add the help of a professional podcast editor, and the costs come in much lower than expensive marketing campaigns. Making this investment and putting in the work will pay dividends to you over time in the form of a growing audience, sales, or whatever it is you hope to achieve by podcasting.
Promote Your Offerings
To further maximize the ROI of your podcast, you can use your show to promote your products and services, partner programs, or even a Patreon link. Your podcast sets you up as an expert in your niche, and you have built a relationship and created a rapport with your audience. Your listeners trust you. Even if you’re not selling anything, your podcast could, at the very least, pay for itself with sponsorships. A home security alarm company could be the perfect fit for your true-crime podcast. If your show focuses on entrepreneurs, you could partner with a calendar or productivity app.
Keep the adage that podcasting is a marathon, not a sprint when considering the ROI you see from your shows. Maximize your effort, make a long term plan, and stick to it. If you understand your goal, you can keep putting strategies into place to get where you want to be. Building your reputation takes time and consistent, quality content. Your audience will hear your passion when they listen to your show.
Take time to plan how to maximize the return on investment, be sensitive to what your listeners need, understand it, and act on it. Give your listeners unbeatable value with your content, and you will end up seeing great returns on your investment.
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