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Have you noticed the sharp rise in the popularity of podcasts? There were 8.9 million podcast listeners in 2017, which has skyrocketed to 23.3 million in 2023. It is now estimated that there will be 28.1 million podcast listeners by 2026. This will pique the interest of marketers as it is clearly a platform that brands can use to engage their target market. A growing number of businesses across all industries are starting podcasts, which can be a highly effective marketing tool. This post will examine why you should start a podcast in 2024.
Reach A Large Audience
Of course, the primary reason is to reach a large audience. With a growing number of people listening to podcasts both domestically and overseas, it is an excellent opportunity to increase brand awareness. When you create a high-quality podcast, you can attract listeners and benefit from word-of-mouth marketing. This should help you to attract new customers and increase your market share.
Demonstrate Expertise
A podcast provides a platform for you to demonstrate your expertise. You need to position your brand as a thought leader to attract customers and stand out from the crowd. When your content contains insightful information and helpful advice for your target market, addressing their concerns and needs, you can build a positive reputation for your brand. A few ways to do this via podcast include:
Expert opinions
Solutions to common problems
Industry news
Interviews with key figures
Case studies
How-to guides
Q&A sessions
Engage With Long-Form Content
A lot of content these days is short-form, such as TikTok videos and Instagram Reels. While this is undoubtedly a trend that you want to capitalise on, you can also go against the grain by creating long-form content. There is a growing demand for in-depth, quality content that people can get stuck into. Podcasts are also ideal for this, as people can listen to your podcast while completing another task, such as driving, cleaning, or exercising.
Humanise The Brand
A podcast also provides the opportunity to humanise the brand, which is not always easy. By hosting a podcast, listeners will get to know the host(s) and create a bond with them. This is useful because it can create an emotional connection to the brand that can retain customers and improve your reputation. A few effective ways to humanise the brand via podcast content include sharing personal experiences, light humour, and behind-the-scenes insights.
Monetisation
It should not be the primary focus of the podcast, but you can also monetise your podcast. Sponsorships, affiliate marketing, subscription models, and selling products can all help you raise some extra funds and boost your bottom line.
Easy To Start
Finally, podcasts are relatively quick and easy to start. You will need high-quality audio recording equipment, microphones, and headphones, and you will be good to go. It is essential to carefully plan out your episodes to ensure they have purpose and will be entertaining.
Podcasts are rising in popularity, which all business owners and marketers should be aware of. Starting your own podcast in the new year could help you engage your target market, improve your brand credibility, form stronger connections, and reach new levels of success.
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