Maximizing the ROI of Your Business Podcast

If you have a problem, what do you do? You seek solutions.

If you want to learn something new, you search for knowledge and wisdom.

They are two of the primary ‘pain points’ that businesses resolve and address for their clients and customers.

The question of whether ‘how’ and ‘when’ you, as entrepreneurs, enjoy the rewards of your investment lie mainly on your marketing efforts.

How far is your reach? Are you reaching your target audience? How are you establishing your authority in your industry? Are you getting impatient about your returns?

If you’re looking for a way to maximize the Return on Investment (ROI) of your marketing efforts, you shouldn’t need to look too far.

Take advantage of what you already have - your podcast.

The business genre has been identified as one of the most popular categories in the podcasting industry. With business podcasts readily available to anyone and everyone, it makes learning accessible and solutions to problems convenient to find.

Today, I share four tips on how you can maximize your time, efforts, and investments through podcasting and why this marketing method is so appealing to the entrepreneur on-the-go.

 
 
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#1: Add podcasting to your content marketing strategy.

What makes podcasting a fantastic content marketing strategy?

First, it’s convenient for consumers.

They don’t need any other equipment to listen to your show aside from that small yet fascinating gadget everyone can’t get enough of (toddlers and children included) - mobile phones.

According to an article published in 2017 by Business Insider, mobile phone users across the globe have reached its 5-billion mark.

Imagine how many people can access your content through your podcast!

Second, you broaden your reach and reach out to a broader range of your target audience’s demographics.

Not everyone enjoys reading blog posts and articles. Likewise, despite the growing numbers of YouTube viewers, there are some who do not prefer watching videos to gather information. As the podcast industry continues to grow, more people are enjoying the audio-first era of content marketing. And as more tech devices, like smart cars and voice assistants, become increasingly more mainstream - your opportunity to reach new listeners continues to grow.

Third, since you’re in this for the long haul, it’s a good thing that you can start a podcast and record each episode using the best podcast equipment package that doesn’t need to break the bank.

Once you have invested in the production equipment and a team to support your endeavor, podcasting costs much lower than your usual marketing and advertising campaigns.

 

#2: Put your podcast as the #1 sales funnel.

A successful sales funnel starts with the “Getting-to-Know-You” stage.

As you launch more episodes, your audience not only has a chance to grow, but you also give them an avenue to get to know you better.

The more they know you, the more they will trust you.

The more they trust you, it becomes easier for them to decide that you and your products or services are worth their time and - yes, their money.

Take advantage of the fact that listening to a podcast is a passive activity. You build a relationship with your listeners while they drive to work, go for a run, or even do the laundry.

So, be consistent. Continue to give your listeners great value through your remarkable content, and you will see great returns on your investment.

 

#3: Use your show to promote your products, services, and affiliate programs.

Do you struggle to look for an avenue where you can consistently and cost-efficiently promote your offerings?

Look no more! You have already created one - your podcast.

Once you have positioned yourself as the go-to authority in your field, more people would want a piece of your mind - to avail of your services or buy your products.

Not only that, if you have a big following, it’s only a matter of time before sponsors and advertisers come knocking on your door (or your inbox).

Is your podcast about agriculture? An agricultural software company could come looking for you. You can help people in the agricultural industry make better decisions through their data.

Do you talk about leadership and women in business? Create course offerings that will address the primary needs and common struggles of women entrepreneurs and promote these on your show.

If you want to maximize your ROI, be sensitive to what your listeners need and act on it.

 

#4: Remember: Podcasting is a marathon - not a sprint.

The statement above is a vital truth stated by Kate Astrakhan, a technical podcast producer and the founder of Podcast Network Solutions - a company that produces over 1,300 episodes each month, when asked during her interview on Podcast Rockstars about one piece of advice she could give those who wish to launch their podcast.

So what does this mean?

If you’re a sprinter, you maximize your time to run one sprint after the other. You move fast and run as quickly as you can.

If you’re a marathon runner, you maximize your effort. You plan and make sure you run until the end - until you’ve finished the race.

Podcasting is not a sprint - it takes time and effort. It’s not a quick, one-time planning and - Boom! You instantly get the results you want. No. It doesn’t work that way.

With every guest you interview and every bold opinion you put out there, you establish yourself as an expert in your subject area and a thought leader in your industry, just like a runner who makes sure every effort is maximized as he or she runs a marathon.

Building this reputation and credibility takes time. Like any other marketing strategy, it requires research and planning, experimentation and exploration until you find the right fit for you, your business, and your audience.

Stop worrying about the ‘when’ of your ROI and start planning for the ‘how.’

As you dive into the action items above, remember that to acquire the most gain in your business, you need to regularly and consistently have the desire to help and lift others, to honestly and sincerely want to make this world a better place.

 

Your turn!

How did you use your podcast to maximize the ROI of your business? We’re excited to hear your story. Share them with us in the comments below.