Podcasts have rapidly grown in popularity over the last couple of years, becoming an effective and cost-efficient marketing tool for businesses. But why are podcasts so popular, and is appearing on a podcast free?
With a highly engaged and targeted audience, appearing on podcasts can help increase visibility, build relationships, and drive sales.
Here are five reasons why appearing on a podcast can drive long-lasting benefits for both you and your business.
1. Targeted Audience
Podcasts have become an increasingly popular medium for businesses to reach their target audience. The growth of podcasts has been driven by a number of factors, including the ease of access through mobile devices and the rise of streaming services such as Spotify and Apple Podcasts. Podcasts often cater to specific niches or interests, allowing businesses to reach a highly targeted audience.
For example, maybe you've launched a sportswear business aimed at women. It could be hard for you to niche down to one particular segment of women in the market. Instead, you could search on Google or Facebook groups for podcast for women and you'll get thousands of podcast recommendations. Depending on the size of your audience and the wisdom you can share, you're likely to have a number of podcast hosts who would be interested in having you as a podcast guest.
This is a significant advantage compared to other marketing channels that may have a wider reach but also a more general audience that may not be as interested in a particular product or service.
Studies have shown that podcast listeners are highly engaged and often take action as a result of hearing an advertisement or brand mention. A 2019 survey conducted by the Interactive Advertising Bureau found that 60% of podcast listeners have made a purchase as a result of hearing an advertisement on a podcast. This demonstrates the power of podcasts as a marketing tool, as they provide businesses with the opportunity to reach a highly engaged and interested audience.
Podcasts also offer a unique opportunity for businesses to build a relationship with their target audience. Unlike traditional advertising, which can often be viewed as intrusive or annoying, podcasts provide a more personal and intimate setting for businesses to connect with their audience. This allows businesses to build a deeper relationship with their target audience, creating brand loyalty and increasing the likelihood of repeat purchases.
Are podcasts free? The answer is - in nearly all cases - yes.
Appearing on podcasts has become an attractive option for businesses looking for cost-effective marketing strategies. Traditional advertising methods, such as television and print advertisements, can be expensive and may not reach the desired target audience effectively. In contrast, podcasts provide a more affordable option for businesses to reach their target audience.
Podcasts offer a significant advantage compared to other marketing channels that may have a wider reach
According to a study conducted by the Interactive Advertising Bureau (IAB), podcast advertising costs are significantly lower than traditional advertising methods. The average cost per thousand impressions (CPM) for a podcast advertisement is around $25, compared to $35 for radio and $45 for television. This demonstrates the cost-effectiveness of podcast advertising, making it an accessible option for small and medium-sized businesses.
Moreover, podcast advertising provides a more intimate and personal experience for listeners compared to traditional advertising methods. Podcast listeners are highly engaged and often take action as a result of hearing an advertisement or brand mention. The 2019 IAB survey found that 60% of podcast listeners have made a purchase as a result of hearing an advertisement on a podcast. This highlights the effectiveness of podcasts as a marketing tool, providing a cost-effective and high-impact marketing strategy for businesses.
3. Increased Visibility
Podcasts have the potential to significantly impact a business's online visibility, credibility and reputation among potential customers. By appearing on podcasts, businesses can build their online presence and increase their exposure to a wider audience. This can help establish the business as a thought leader in their industry and establish their brand as trustworthy and credible.
According to a study by Edison Research, over 70% of podcast listeners have taken some form of action after hearing a brand mentioned on a podcast
One of the key ways that podcasts can impact a business's online presence is through domain authority. Domain authority is a metric used by search engines to rank websites based on their relevance, credibility and authority within a particular niche or industry. The higher a website's domain authority score, the more likely it is to rank higher in search engine results pages (SERPs).
Appearing on podcasts can help increase a business's domain authority by generating backlinks to their website. Backlinks are links from other websites that point to a particular website. Often these backlinks to your website will be included in the podcast transcript or show notes.
The more high-quality backlinks a website has, the higher its domain authority score will be. By appearing on podcasts, particularly those that feature high in podcast rankings, and having links to their website included in the show notes, businesses can generate valuable backlinks, helping to increase their domain authority score.
4. Human Connection
Podcasts provide a unique and intimate way for businesses to connect with their audience, creating a more personal and human connection compared to other forms of marketing. This allows businesses to foster a stronger relationship with their customers, building trust and loyalty over time.
This is powerful for any business-owning podcast guest.
According to a study by the Interactive Advertising Bureau (IAB), podcast listeners have a deeper connection to the hosts and sponsors of their favorite shows. This connection is driven by the personal and conversational nature of podcasts, which creates a more authentic and relatable experience for listeners. In turn, this can help build a stronger relationship between businesses and their customers, establishing the business as a trusted and reliable brand. And the best podcast guests earn trust from the opening introduction.
Appearing on podcasts can help increase a business's domain authority by generating backlinks to their website.
Podcasts also provide businesses with the opportunity to reach a highly engaged audience. Podcast listeners are actively choosing to listen to the content they consume, making them more likely to take action as a result of hearing an advertisement or brand mention. This level of engagement and attention is difficult to replicate with other forms of marketing, making podcasts an effective way to connect with customers and drive sales.
Furthermore, podcasts provide businesses with the opportunity to showcase their expertise and knowledge in their industry. By delivering valuable and informative content, businesses can establish themselves as thought leaders and build credibility with their target audience. This can help attract new customers and improve customer satisfaction, leading to increased customer loyalty and long-term business growth.
5. Measurable Impact
Podcasts offer businesses the unique advantage of being able to measure the audience reach and engagement of their marketing efforts. This allows businesses to track the impact and success of their marketing strategies, making it easier to adjust and improve their approach over time.
According to a study by Edison Research, over 70% of podcast listeners have taken some form of action after hearing a brand mentioned on a podcast, including visiting the brand's website or making a purchase. This level of engagement and conversion can be easily measured and tracked, allowing businesses to see the direct impact of their podcast appearance on their bottom line.
In addition, podcast hosting platforms often provide metrics and analytics on the number of downloads, plays, and engagement of each episode. This data can provide valuable insights into the reach and impact of a podcast appearance, helping businesses to determine the success of their marketing efforts and make informed decisions about future advertising strategies.
Moreover, businesses can also track the impact of their podcast appearance on their website traffic and search engine rankings. By appearing on podcasts and having links to their website included in the show notes, businesses can generate valuable backlinks, which can help improve their search engine rankings and drive organic traffic to their website.
Rob Barratt is the Co-Founder of The Industry Leaders and passionate about helping first-time entrepreneurs get the attention their business needs while learning from industry leaders in their field. After creating and selling his first business (a restaurant) Rob found out just how hard it is for small business owners to get the word out about their businesses on a budget. This lead him to create The Industry Leaders and offer opportunities for entrepreneurs to get published alongside industry leaders and appear on podcasts in their niche. You can find out more about publishing and podcast opportunities here.