How To Grow Your Business Through Podcasting
Podcasting is an excellent way to grow your business. The average podcast listener listens to nearly 7 shows per week which is up 40% from 2017. Podcast listeners are educated and nearly 56% of them have a undergraduate degree and 68% are graduates. Nearly 37% of podcast listeners have a household income of 100k annually and 45% have an annual income of 250K. Podcast listeners are also more likely to subscribe to amazon prime and / or netflix. They are educated and have money to spend so if you ideal client calls inside that audience it is time to consider podcasting if you haven’t already. You can see more about the current podcast data by clicking here.
If you don’t have a podcast yet, now, is the time to get started with podcasting as it is still a rapidly growing platform you can leverage to grow your business. So get on it!
Create a funnel specifically for your podcast
When you create a funnel specifically for your podcast it becomes really easy to one track the data and two (and more importantly) customize the experience specifically for your podcast listeners. This will get them out of the podcast ecosystem and into your email marketing or facebook group ecosystem which is important to market to them long term. This provides you with another way to connect with them outside of the podcast listening experience.
The podcast specific funnel should include a freebie which leads to your email list, a 1-time offer, a nurture sequence, a call to action at the end of the nurture sequence leading them to a call or your signature offer. This is key and a great way to personalize the experience for podcast listeners. This personalized experience will increase listenership and make the user feel a connection to your podcast and brand.
Call to Action During the Podcast
If you want to use podcasting to grow your business it is important to have a call to action within the episode. This call to action should drive people to get on a list, join your facebook group or leave a review on the podcast. I recommend rotating through different calls to action during different podcast episodes.
Ads and Podcasting to Grow Your Business
Running ads during the podcast episodes is incredibly popular especially if you have longer episodes. There are three different options for running ads during a podcast.
(1) You can run ad through a service like spotify or I heart radio. This means you will have to qualify to do so and usually means you have a popular podcast with a large number of downloads. The service such as spotify will run the ads for you and you will get paid a percentage based on what runs during your podcast.
(2) You can create your own commercials and run during you own podcast. This is most effective for people who have a smaller following and is a great way to promote anything you have going on in you business that you want your listeners to take action on.
(3) You can sell advertising on your podcast to others. Again, this typically means that you have a fairly engaged audience. An example of this would be the NPR podcasts. You will hear them stop throughout their 45 minute episodes 3 to 4 times and play commercials or reference their sponsors.
Guests and Podcasting as a way to grow your business.
Inviting guests onto my podcast is one my favorite ways I’ve leverage the podcast to grow my business. This is hands down the fastest and most effective approach to tie an ROI to your podcast efforts. There are two approaches for guests on your podcast which are:
- Inviting Your Ideal Client to be a guest on the Podcast
- Inviting Interviewees who have your ideal client in their audience on your podcast
These two different approaches still help you achieve business growth and here’s how. When you invite your ideal client onto the podcast you connect with them and quickly establish a relationship. I have had clients who have used this as their entire strategy to build their business and gain new clients.
The second approach which involves inviting guests who have potential clients in their audience (also known as the dream 100 strategy used in part by Russell Brunson) works because of the share factor. Meaning when you are a guest you typically share the episode with your audience, email list, on social media while tagging the other person and they subsequently do the same thing as well. This gets you in front of that person’s audience and can work incredibly well to earn traffic to your social media channels, website and more. Then you employ a retargeting strategy and things work amazingly well.
These are all my ninja tips for growing your business with podcasting. Let me know which tip you plan to implement.
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