Benefits Of Podcasts For Business: Why Entrepreneurs Should Start One
Published Mar 26, 2024
Podcasting is a great way for business owners to grow. It helps people know your brand, connect with customers, and find new chances. But why is it so helpful? This post explains how podcasts can help your business.
Table of contents
1. Building your personal brand
A podcast helps you share your knowledge and show people you are an expert. When you start a podcast, you get to share your ideas and knowledge with others. This helps people trust you and your business more.
For example, The Marie Forleo Podcast an entrepreneur and author – she uses her podcast to talk about business, personal growth, and lifestyle. Her show makes her a trusted expert in these areas.
If you are just starting, podcasting is one of the best ways to introduce yourself. You can talk about anything that interests you, like business, health, or personal growth. Every time you release a new episode, people will learn more about you and your ideas. The more you share, the more people will think of you as an expert.
Your podcast will also give your business a voice. It’s not just words on a website. With a podcast, people hear your tone and excitement. They can hear how passionate you are. This helps people remember you and feel like they know you. When people trust you, they are more likely to choose your business over someone else’s.
2. Connecting with your audience
Podcasts are a great way to connect with your audience. Unlike other types of content, a podcast lets you talk directly to your listeners. It’s like having a conversation with them, which helps build trust.
When listeners hear your voice often, they start to feel like they know you. This makes them more likely to keep coming back to your podcast and trust your advice.
For example, Tim Ferriss, a famous author and entrepreneur who hosts The Tim Ferriss Show podcast, interviews successful people on "The Tim Ferriss Show." His listeners keep coming back because they enjoy his insights and guests. You can do the same by talking about what matters to your audience and answering their questions.
You can do the same thing. By talking about what matters to your audience, you’ll build a connection with them. You can also answer their questions, which helps them feel heard. Here are some tips to connect with your audience through your podcast:
• Know your audience: Understand their needs and interests.
• Be yourself: Share personal stories and insights.
• Get listeners involved: Ask for feedback, answer questions, or take suggestions.
• Invite guests: Experts or influencers can add value to your show.
• Stay consistent: Release new episodes regularly so your audience knows when to expect them
Building a strong relationship with your listeners is one of the best reasons to start a podcast for your business. The more they connect with you, the more they will trust you and want to hear from you.
3. Creating more marketing content
Podcasts can be turned into many different types of content. This helps you get your message out to more people.
For example, after recording an episode, you can:
• Turn episodes into blog posts: And even better, turn them into SEO-optimized blog posts.
• Share short audio or video clips on social media: You can take the best parts of your podcast and share them on Instagram, YouTube, TikTok, Facebook or Twitter.
• Post key takeaways on LinkedIn: Write a summary of your podcast and share it on LinkedIn.
• Use podcast transcripts for SEO: A transcript is a written version of your podcast. You can use it, and turn it into an SEO-optimized blog post to help your website show up in Google search results.
• Repurpose content into email newsletters: If you send out email newsletters, you can use your podcast episodes to create content for your emails.
All of this means your podcast content can work harder for you. Instead of creating lots of new content, you can repurpose your podcast episodes to reach more people across different platforms. This will help grow your audience and get your message out to even more people.\
4. Growing your network
Starting a podcast opens doors to new relationships. When you invite guests to be on your show, you build valuable connections. Your guests could be industry experts, influencers, or potential business partners. Having guests on your podcast is also a great way to grow your audience.
According to a survey conducted by Edison Research, a large number of podcasters have reported increased engagement with their audience after featuring guests on their shows. Also, Rephonic’s stats say that podcasts with guests have slightly more listeners than average.
These facts can be easily explained.
When your guests share their episodes with their followers, they are helping you reach more people. This can give your business more exposure and help you connect with a wider audience.
Over time, the connections you make through your podcast can also lead to new opportunities. These could include partnerships, collaborations, and even business deals. By growing your network through your podcast, you create new ways for your business to grow.
5. Making money with your podcast
Another great benefit of podcasting is that it can help you make money.
Here are some ways you can earn money through your podcast:
• Sponsorships: Companies will pay you to mention their products or services in your podcast.
• Affiliate marketing: You can promote other products and earn money when people buy them using your special link.
• Paid memberships: You can offer exclusive content to people who pay to listen to your podcast.
• Selling your own products or services: You can use your podcast to promote and sell your own business products or services.
The great thing about podcasting is that you don’t need a huge audience to start making money. Even if you have a small group of loyal listeners, you can still earn money by offering them value. The key is to give your audience something they want and are willing to pay for.
Take the The Influencer Podcast hosted by Julie Solomon. You can notice that she often includes affiliate links in her podcast episodes, promoting products and services that she believes in and earning commissions on sales made through those links.
Many podcasters nowadays offer premium content to monetize their podcast. This can be exclusive episodes and membership programs that listeners can access for a fee. This subscription-based model provides listeners with added value and a sense of belonging while providing podcasters with a steady stream of revenue.
Some podcasters choose to monetize their shows through merchandise sales, live events, or crowdfunding platforms.
Overall, the podcasting industry offers a wealth of opportunities for creators to monetize their content and generate income.
6. Increasing customer engagement
Podcasts help keep your customers engaged. Unlike short posts on social media, podcasts let you have deeper conversations with your listeners. People listen to your podcast for longer periods, which helps you build a stronger connection with them.
When you use your podcast to answer questions or solve problems for your customers, they feel like you are really helping them. This makes them more likely to stay loyal to your brand.
People enjoy podcasts because they can listen while doing other things, like driving, cleaning, or exercising. This means they have more time to connect with your business, and the more they listen, the more they trust you. Keeping your customers engaged through podcasting will help you build a loyal following.
7. Improving your communication skills
Podcasting helps you improve your communication skills. The more you podcast, the better you will become at explaining your ideas clearly and simply. This is a skill that will help you in many areas of business.
For example, when you have meetings, you will be better at explaining your ideas. When you talk to customers or partners, you’ll be able to communicate more effectively. If you do any public speaking, podcasting will also help you become a better speaker.
If you invite guests to your podcast, you will also improve your interviewing skills. You’ll learn how to ask better questions and keep the conversation going. These skills are important for building relationships and growing your business.
8. Staying ahead of competitors
Podcasting can also help you stay ahead of your competitors. Not every business uses podcasts, so starting one gives you an advantage. If you start a podcast, you have a unique way to connect with your audience that many of your competitors may not be using.
By sharing your knowledge and insights through podcasting, you can become a leader in your field. People will start to trust you more because they know you share useful information. This helps you build credibility and stand out from the competition.
When you provide value through your podcast, you show your audience that you know what you’re talking about. This helps you earn their trust and makes them more likely to choose your business over others.
Conclusion
Podcasting is a powerful tool for business owners.
It helps you build your personal brand, connect with your audience, and create content that works harder for you. With podcasting, you can grow your network, make money, increase customer engagement, and improve your communication skills. Most importantly, it can help you stay ahead of your competitors.
So, if you haven’t started a podcast yet, now is the perfect time to begin. It’s easier than you might think, and the benefits are huge. Start your podcast today and take your business to the next level!
Still hesitating? If you're a business owner or entrepreneur, don't miss out, take action today and launch your podcast with us. Book a discovery call with us.
Check out our additional resources for more tips and guides on podcasting:
