Podcasts are the new hot commodity. Whether that’s simply choosing to consume content via listening to podcasts and a medium, creators are utilizing it to share their content. With their increasing popularity, many people want to join this growing field and make money from either a hobby or business venture. If you have an interest that others might be interested in hearing about, then why not start your podcast? You could end up being rich!
Podcasts can offer you the power of persuasion without spending a fortune. With growing popularity, more and more entrepreneurs and organizations are looking for ways to capitalize on this new medium.
You may be an industry expert, but could still be unsure when it comes to creating a podcast for your business. Don't worry! To help you out, we will be sharing some tips to help you in making your business profitable with your podcast.
Top 5 tips to grow your business through a podcast
1. Position yourself as a thought leader
There is no better way than to position yourself as a thought leader within your industry - and it's completely free with Hubhopper Studio. Podcasts are a great way to reach out and build a connection with your community and customers. Establish your business brand as a leader in your niche. This will give you the leverage of building trust and loyalty among customers through effective use of content marketing.
2. Attract new customer segments
Podcasting is a great way to get your mission, vision, and values across to the audience. This is especially true for niche businesses because listeners can spend hours getting one-on-one time with what it's like behind the scenes of your company or learn about industry specifics.
All in an environment where they know their opinion matters and isn't just being ignored. That is why, podcasts help businesses win the war for attention. The passive consumption nature of podcasts allows users to consume what they demand, without having the requirement to spare additional time to add this to their daily routine. This flexibility and effectiveness of podcast consumption pattern allow you to reach a larger pool of your target audience.
3. Build a list of subscribers
A good podcast is much more than just a one-time thing. The process of getting subscribers to your show can be an art form unto itself. It's essential for making sure that you're going to have the same audience every time you release new content.
Add your podcast onto your business website and social media handles, and allow users to subscribe to your email list to get notified of future episodes, exclusive premium content, exclusive business deals, and many more. You can also have your podcast listeners subscribe to your email list to receive similar benefits.
Getting more people to join your line of communication can allow you to identify your loyal customers, but as well as have a channel with a very high conversion rate for your business deal prospects.
4. Increase your social followers and engagement rates
It's time to start looking at podcasting as a way of bringing in followers for your social media handles. Not only will you save money, but will also acquire quality followers who will be more willing to interact with your business.
Podcasts are also a free-way for you to build loyal followers by providing them with high-quality, engaging material that they can't find anywhere else on the web.
5. Sell your services
Have you ever considered offering services to go along with the content of your podcast?
For suppose, you used to analyze and critique online ads on a show, which meant that you were an expert in Google AdWords and Facebook Ads management. By showing that your knowledge went far beyond discussing advertising methods during podcasts, people knew they were getting top-level treatment from you and will trust your expertise. This will in return offer you more opportunities like hosting numerous online paid workshops as well as help you score leads for your business.
This would work well if you're providing information about any industry-related topic as long as there are opportunities for service providers within the field (which is likely). Don't be afraid: just because listeners know what's up doesn’t mean they'll hold back their money!
You could do something similar in many different industries.
Income alternatives to building audience
The additional ways to bring in revenue from your podcast without having a large number of followers. Here are a few things to consider:
- If you have a dedicated following, selling branded merchandise could be worth your while.
- You could gain a new revenue stream by offering tickets to listen live or throw podcast-related events.
- It’s a well-known fact that humor and wit are powerful marketing tools. Your podcast is a great way to promote your company and increase sales, so be sure that you do this often on the show.
- Podcasts are a great way to promote your company’s goods and services. Using them as an advertisement for your organization will drive up traffic, sales, and conversions on the website!
Similarly, you could create a course to sell, either on podcast-related topics or about material connected to your show.
- Podcasts are the perfect way to get your voice out there and share what you know. Once people hear how knowledgeable you are, they'll start hiring you for all sorts of public speaking gigs!
How much money do average podcasts make?
Whenever someone talks about, "How much money can podcasters make?" or “Can you really make a living from podcasting?”, they're actually asking the age-old question: How much does an average podcaster earn?
You may have your sights on becoming popular and earning 10 million downloads per episode but it'll take time. Let's talk about some realistic numbers!
- 20% of the audience will become loyal listeners
- 25% will download free content
- 2% will buy products from you using an affiliate link or subscribe to one of our paid services we offer every month with
- 1%. and 0.05%, well they'll follow on social channels but only if it's worth their time
It's a numbers game. But there are still some things that you can do to maximize your results and make sure people stick around for more.
The podcasting industry is emerging as a more credible and trusted source for information. It's not only an important voice in the media but can be your personal microphone to share with listeners what you find most interesting about topics that affect them on their current journey of life.
It is a great way to establish yourself as an expert and trusted voice in your chosen area or field because of how much you delve deep into relevant issues during each episode.