How Much Does it Really Cost to Produce Your Own Podcast?

How Much Does it Really Cost to Produce Your Own Podcast?

Over the years, podcasting has become more than just another source of information and entertainment. Nowadays, more and more businesses are integrating podcasting in their marketing arsenal in order to generate more leads and increase revenue significantly.

Surprisingly, not everyone is completely convinced it's one of the best marketing tools they can tap into. If you need convincing yourself, the following reasons can surely win you over:

1. It can help your provide valuable information

Did you know that the average person speaks between 125 and 150 words per minute? That means in a 10-minute podcast, you’ll be able to share between 1,250 and 1,500 words to your listeners. In other words, you can really go more in-depth with your discussions without having to worry about boring your audience to the point where they stop listening.

2. It can help dramatically improve your reach

As a business owner, your goal is to get word out about your product or service to as many people in your niche as possible. However, it is also important to remember that people consume content differently. Not too many people have the time (and patience) to sit down and consume a piece of written material because it requires a lot more focus and attention on their part.

On the other hand, it’s far easier to consume content from a podcast because there’s hardly any visual distractions competing for their attention. Also, listeners are not obligated to stop what they're doing just to listen to a podcast. They can listen to it while driving, working at the office, or exercising in the gym. In other words, it allows you to cast your net further and more extensively than you could with a blog.

3. It can help establish your credibility and expertise

If you’re running a service-oriented business, launching a podcast channel is an excellent way for you to promote and establish yourself as an expert in your niche. For example, if you run a financial consulting firm, you can use a podcast as a medium to share budgeting and getting out of debt tips. Or if you’re an online marketing expert like Amy Porterfield, you can use your podcast to share tips on how to use social media and other online marketing channels to your advantage.

4. It can help you build a loyal following

Customer buying behavior has significantly changed in recent years. Nowadays, people are looking for more than quality products and services. They are searching for companies that genuinely understand their wants and needs. When they do find these businesses, they become incredibly loyal to these brands, and it's tough to get them to look the other way unless you're able to offer something better.

Podcasting helps by giving you a channel to connect with your target customer on a personal level. This is what financial expert Dave Ramsey does on his podcast, The Dave Ramsey Show. Instead of merely dishing out random financial advice to people to help them get out of debt, he lets his audience call in with specific questions he will answer. He also invites those who have used the principles he taught to become debt-free to share their testimonies.

5. It helps you stay accountable and on track

Competition in today's marketplace is more fierce than ever. That being said, companies are now looking for creative ways to get ahead of the pack. Often, their strategy includes using their podcast as a means to generate more leads they can convert to customers.

The future of podcasting is looking very promising that has become relatively easy to find a podcast for nearly every industry. That means there's an excellent chance that one or more of your competitors are already podcasting,

Podcasting as a marketing tool

As you can see, podcasting can be a potent marketing tool for your business. It can help you break down barriers and reach out to a broader audience at a more personal level. At the same time, it gives you the opportunity to provide extremely valuable content to your customers to position your business to scale and grow.

Have you tried podcasting for your business? If not, what's holding you back? We'd love to hear your story in the comments below!

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