Podcast Marketing has emerged as a powerful way to build trust and authority and more and more marketers are turning to podcasting as an informative way of brand building.
Several companies create podcasts now. These podcasts largely focus on product explainers, customer experiences, industry trends or case studies.
The goal is to create audio stories that can lead to an emotional connect with customers, build authority, and encourage word-of-mouth marketing.
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Ernst & Young, which is among the top consultancy firms in the world, runs a podcast series where it educates its clients on the implications of government policy, industrial changes, new laws etc.
Companies can listen to the podcast or browse the transcript which is available on the E&Y website. They can also connect with E&Y team to get more detailed information.
Screenshot of a podcast announcement on Digital Personal Data Protection Act, 2023: Impact on telcos available on the E&Y website.
Advantages of Podcast Marketing
There are several reasons why marketers are turning to Podcast Marketing. These include:
#1. Lead Generation: Customers don’t have to be prodded to share their personal details such as name and email address. They happily share these details because they realise that these are required to get podcast links for streaming the podcast. The company is able to build a much-needed database to market its products.
#2. Engagement and Loyalty: Podcasts can be used to build loyalty. Popular podcasts encourage customers to build strong connections with their favourite shows. They make it a point to log in when a podcast is being broadcast. Companies can turn these connections into loyal followers.
#3. Reach and accessibility: Podcast Marketing takes company messages to new geographies making it possible for businesses to reach niche audiences that align with their products or services. High quality podcasts that share valuable and relevant content can generate referrals and create a community of interested listeners, some of whom can turn into customers.
#4. Thought leadership: When business leaders are invited as guests to share their expertise podcasts build thought leadership. They clear doubts and answer customer queries. In the process, they build trust and credibility and pull in new listeners.
#5. Search engine ranking: Content created to describe and promote podcasts is search engine optimised. It improves rankings and leads to an increased flow of organic traffic.
#6. Cost-effective: Podcast Marketing is highly cost-effective and delivers a high return on investment. The investment of companies is limited to purchasing broadcast equipment and renting server space. In terms of manpower, a single, dedicated resource is enough. The only other expenditure for the company is the guest fee.
#7. Content Repurposing: Podcast content can be repurposed as blog posts, social media posts, videos and quote posts which can then be published on the social media handles of companies. Such repurposed content can generate buzz and reinforce the overall content marketing strategy of the company.
How to build Podcast Marketing Strategy
Podcasts may be easy to launch but for them to deliver results companies need to plan carefully. The following points need to be discussed threadbare and decisions taken before companies launch Podcast Marketing:
#1. Define Goals: The first question to ask is: what is the purpose of such an exercise? Is it to build brand awareness, generate leads, build thought leadership, supplement existing content marketing efforts or is it a combination of all these?
#2. Select the right niche: Companies must define the target audience. A music label can invite well known singers but an academic institution must get career planners as its guests. The niche must align with the business interests of the company.
#3. Budgeting: The seriousness of the exercise depends upon the budget. Podcasting can start on a shoe-string budget but it will not produce the desired results. Companies must allocate budgets in keeping with their requirements and expected results. High-quality professional episodes will require substantial investment in microphones, recording equipment, and audio editing software. Allocation will also have to be made towards guest fees. The more prominent the guest the higher will be the fee.
#4. Podcast promotion: Considerable thought needs to be given as to how the company will promote the podcast. Will it be through its existing content marketing channels? Or will it take the route of paid advertising? A budget will be required if it opts for the latter.
#5. Consistency: It is important to plan a schedule. Should the podcast be once a week or once a fortnight? Should it be random depending upon the availability of the guests? For any Podcast Marketing strategy to succeed it is essential that there is consistency. Theis can only happen if there is a publishing schedule, and it is followed religiously.
#6. Getting started: When it comes to execution, the first step is to build a landing page where details about upcoming podcasts can be published.
The second step is to bring visitors to the landing page to obtain leads and build a following. This is where companies can use their existing database to promote podcasts. Announcements of upcoming podcasts can be included in newsletters and published on social media handles. They can also be released as paid advertisements.
The leads obtained through different sources need to be nurtured. For this, marketers must share replay links to all users. Further, a transcript of the podcast must be published on the website of the company.
Key statements made by the guests should be converted into social media posts and published on social media platforms once the podcast is over.
#7. Build partnerships: Companies can partner with other podcasters and influencers. They can invite them to be guests on their podcasts. In return, they can request the influencers to promote the podcasts of the company. This will build reach.
#8. SEO Optimization: Podcast titles, descriptions, and show notes must be optimised for search engines. Also, the transcripts of all podcasts must be published prominently on the website. This will help the podcasts appear prominently in search results and be discovered by more listeners.
#9. Monitor podcast metrics: It is important to keep a close track of listenership metrics because they tell marketers as to what the audience wants. The number of downloads tells marketers about the reach and popularity of podcasts. More registrations reflect subscriber growth, while listener demographics helps the podcast team to tailor podcasts to meet the audience requirements. Engagement metrics is another good indicator. Positive feedback is a sign of popularity while negative feedback must lead to deliberation and course correction.
Summary: Podcast Marketing presents a great opportunity for businesses to connect with their audiences, establish brand authority, and achieve tangible results.
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