There are over 2 million podcasts and more than 48 million podcast episodes on the internet where branded or business podcasts hold a majority. Research says that consumers garner more engagement during the branded parts of a podcast than the rest of the content. That leads to 16% more overall audience engagement vis-a-vis non branded ones. This also explains why businesses/brands from various sectors are increasingly adopting it to increase audience engagement, boost their brand awareness and conversion. ‘Open for Business’ by eBay, ‘.Future’ by Microsoft, and ‘The Sauce’ by McDonald’s are some of the vivid examples of impactful business podcasts.
Irrespective of the type/sector/industry your business operates in, podcasts can be a great way to benefit in terms of reaching out to more audience and creating an impactful brand image. That’s not it, there are innumerable other benefits too. In this blog we will discuss why you should start a business podcast.
Top Reasons to Start a Business Podcast
1. Increases the User Engagement
Podcasts are quite effective in keeping the user engagement high. Your business can leverage this medium to drive promotions for your premium products and services. Statistics says that the number of monthly podcast listeners has grown 61.5% in the last three years (2018 to 2021) in America itself. So, by starting a business podcast you can target even more audience than what you are already targeting at the moment.
2. Boosts Website Traffic
Yes, business podcasts help you draw more traffic to your blogs/website. You simply need to add the respective CTA at the most suitable timestamp of your podcast based on the duration. For instance, if the podcast duration is of 30 minutes, then your blog or website link can be added after a 15 minutes time stamp.
3. Drives Sales
Most of the businesses invest heavily to market their products and increase sales. The good news here is that business podcasting can serve this purpose at a much lower cost. A recent survey of 300,000 listeners found that 63% of the listeners bought something recommended during a podcast. No doubt that hosting regular business podcasts can significantly help you boost your sales at almost no additional cost at all!
Successful Podcasts from Brands- At a Glance
4. Repurposes Content
Content plays an important role for any business and it often becomes challenging to come up with new and unique content regularly. Furthermore, with time, content like blogs, infographics, videos etc. start lacking relevance. In such cases, podcasts are helpful in repurposing the content with more relevant and engaging elements.
5. Works as an Additional Marketing Channel
Business podcasts are a means of reaching out to that part/segment of audience which otherwise wouldn’t have been possible. As per the statistics, there are more than 380 million podcast listeners globally as of 2021 and the number is set to surpass 420 million by 2022. This clearly indicates the potential podcasting holds to help you reach out to such a wide audience base.
6. Creates Long-lasting Relationship with Customers
Regular podcasting plays a significant role in making customers more aware about your brand, how your brand values them and helps in creating a long-lasting relationship with them. For any sector, be it SaaS, IT, gaming, e-commerce, or others, there is a high probability that customers forget your brand or products after a certain period, especially when there are a lot of new companies and businesses trying to catch attention everyday. Business podcasts can work wonders in this case by holding your audience attention as well as maintaining a positive, and purposeful relationship with them.
- 18% of the U.K adults listen to podcasts including the branded ones every week as of 2020 and is likely to grow further
- 80% of the podcast listeners tend to listen the full or most of each of the episodes
- The podcast advertising revenue tends to surpass US $1.1 billion in 2022 around the world
- 38% of the listeners tend to purchase products/services/subscriptions mentioned in a podcast
- Every podcast listeners are subscribed to 5-7 different podcast shows on an average
Podcasting is one of the new trends which is likely to be high on demand in the near future as well. With people getting more interested in enjoying different forms of content like listening/watching instead of consuming it by reading alone, podcasts tend to remain a lucrative option to be explored. Most importantly, there is almost no additional cost involved! A win-win! All you need to do is launch your own podcast platform that is a one-time process and you don’t even need any additional resources/heavy investment.
Muvi, the audio/video streaming platform provider, lets you launch your very own brand-defining platform like Spotify just through a few clicks. The perks are unlimited- having your own branded podcasting platform, seamless streaming experience for your listeners, multiple device compatibilities, monetization and unlimited customization options to keep up with the changing trends and many more. If you are yet to stream with Muvi, today is the best day to start your journey and host your first free podcast by taking a 14-day free trial (no credit card needed). If you like it, we will set it up for you!